Sprott-backed Independence Contract Drilling registers for IPO
Independence Contract Drilling Inc, a portfolio company of Canadian private equity firm Sprott Resource Corp, has submitted a confidential registration to the U.S. Securities and Exchange Commission for a possible initial public offering of common shares. Based in Houston, Independence Contract Drilling is a vertically integrated premium land-drilling service provider. Sprott invested in the company in 2012 and currently owns a 31.7% interest. Sprott last month commenced a $67.7 million secondary offering for another portfolio company, Calgary-based Long Run Exploration Ltd (TSX: LRE).
13 May 2014•3 mins read
