Sentinel Energy Services Inc.’s $300 Million Initial Public Offering


Vinson & Elkins advised Sentinel Energy Services Inc. in its initial public offering of 30,000,000 units at a price of $10.00 per unit.

Sentinel Energy Services Inc. (the “Company”), led by Chairman Andrew Gould and Chief Executive Officer Krishna Shivram, today announced the pricing of its initial public offering (“IPO”) of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market and trade under the ticker symbol “STNLU” beginning November 3, 2017. Each unit consists of one of the Company’s Class A ordinary shares and one-third of one warrant, with each whole warrant enabling the holder thereof to purchase one whole Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NASDAQ Stock Market under the symbols “STNL” and “STNLW,” respectively.

The Company intends to use the net proceeds from the IPO, and a simultaneous private placement of warrants, to consummate the Company’s initial business combination.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC are serving as the underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

The V&E corporate team was led by partners Doug McWilliams (Picture) and Ramey Layne with assistance from associates Terry Bokosha, Mariam Boxwala and Jordan Fossee. Also advising were partners Judy Blissard and John Lynch and associate Christine Mainguy.

Involved fees earner: Douglas McWilliams – Vinson & Elkins LLP; Ramey Layne – Vinson & Elkins LLP; Mariam Boxwala – Vinson & Elkins LLP; Terry Bokosha – Vinson & Elkins LLP; John Edward Lynch – Vinson & Elkins LLP; Christine Mainguy – Vinson & Elkins LLP; Judith Blissard – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Sentinel Energy Services Inc.;

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Author: Ambrogio Visconti