ProPetro Holding Corp. (NYSE: PUMP) details 16,600,000-share secondary sale
ProPetro Holding Corp. is registering 16,600,000 shares of its common stock for potential resale by a single selling stockholder under a Form S-3 shelf registration. These shares were originally issued to Pioneer Natural Resources Pumping Services LLC, now an Exxon Mobil subsidiary, as consideration for an asset acquisition, and any sale proceeds will go to that holder rather than to ProPetro. The filing also establishes an automatic shelf that allows the company, as a well-known seasoned issuer, to offer primary issuances of common stock, preferred stock and warrants over time, with specific terms to be set in future supplements. If used, primary offering proceeds are expected to fund general corporate purposes, including overhead, capital expenditures, debt repayment and working capital. ProPetro had 104,310,266 shares of common stock outstanding as of December 8, 2025.
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SECURITIES AND EXCHANGE COMMISSION
UNDER
THE SECURITIES ACT OF 1933
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Delaware
(State or other jurisdiction of
incorporation or organization) |
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26-3685382
(I.R.S. Employer
Identification No.) |
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110 N. Marienfeld Street, Suite 300
Midland, Texas 79701
(432) 688-0012
General Counsel and Corporate Secretary
One Marienfeld Place
110 N. Marienfeld Street, Suite 300
Midland, Texas 79701
(432) 688-0012
Alexandra M. Lewis
Vinson & Elkins L.L.P.
845 Texas Avenue, Suite 4700
Houston, Texas 77002
(713) 758-2222
From time to time after the effective date of this registration statement.
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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Smaller reporting company
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Emerging growth company
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Preferred Stock
Warrants
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ABOUT THIS PROSPECTUS
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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RISK FACTORS
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WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE
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THE COMPANY
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USE OF PROCEEDS
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DESCRIPTION OF CAPITAL STOCK
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DESCRIPTION OF WARRANTS
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PLAN OF DISTRIBUTION
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LEGAL MATTERS
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EXPERTS
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One Marienfeld Place
110 N. Marienfeld Street, Suite 300
Midland, Texas 79701
(432) 688-0012
Preferred Stock
Warrants
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ABOUT THIS PROSPECTUS
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
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RISK FACTORS
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WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE
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THE COMPANY
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USE OF PROCEEDS
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SELLING STOCKHOLDER
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DESCRIPTION OF CAPITAL STOCK
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PLAN OF DISTRIBUTION
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LEGAL MATTERS
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EXPERTS
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One Marienfeld Place
110 N. Marienfeld Street, Suite 300
Midland, Texas 79701
(432) 688-0012
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Name of Selling Stockholder
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Shares of
Common Stock Owned Prior to this Offering |
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Number of Shares of
Common Stock Being Sold (Assuming All Shares Registered Hereunder Are Sold) |
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Shares of
Common Stock Owned After this Offering |
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Percentage of
Common Stock Owned |
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Before
Offering |
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After Offering
(Assuming All Shares Registered Hereunder Are Sold) |
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Pioneer Natural Resources Pumping Services LLC(1)
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| | | | 16,600,000 | | | | | | 16,600,000 | | | | | | — | | | | | | 15.91% | | | | | | — | | |
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Total
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| | | | 16,600,000 | | | | | | 16,600,000 | | | | | | — | | | | | | 15.91% | | | | | | — | | |
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SEC registration fee
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FINRA filing fee
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Accounting fees and expenses
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Legal fees and expenses
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Printing and engraving expenses
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Transfer agent and registrar fees
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Miscellaneous
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Total
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Exhibit
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Description
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| 1.1** | | | Form of Underwriting Agreement for each of the securities registered hereby. | |
| 4.1 | | | Specimen Stock Certificate (incorporated by reference herein to Exhibit 4.1 to ProPetro Holding Corp.’s Registration Statement on Form S-1, dated February 23, 2017 (Registration No. 333-215940)). | |
| 4.2 | | | Investor Rights Agreement, dated as of December 31, 2018, by and between Pioneer Natural Resources Pumping Services LLC and ProPetro Holding Corp. (incorporated by reference herein to Exhibit 4.1 to ProPetro Holding Corp.’s Current Report on Form 8-K dated December 31, 2018). | |
| 4.3 | | | Registration Rights Agreement, dated as of December 31, 2018, by and between Pioneer Natural Resources Pumping Services LLC and ProPetro Holding Corp. (incorporated by reference herein to Exhibit 4.2 to ProPetro Holding Corp.’s Current Report on Form 8-K dated December 31, 2018). | |
| 4.4** | | | Form of Certificate of Designation for the Preferred Stock. | |
| 4.5** | | | Specimen Preferred Stock Certificate. | |
| 4.6** | | | Form of Common Stock Warrant Agreement (including form of Common Stock Warrant Certificate). | |
| 4.7** | | | Form of Preferred Stock Warrant Agreement (including form of Preferred Stock Warrant Certificate). | |
| 5.1* | | |
Opinion of Vinson & Elkins L.L.P.
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| 23.1* | | |
Consent of Vinson & Elkins L.L.P. (included in Exhibit 5.1).
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| 23.2* | | |
Consent of RSM US LLP, independent registered public accounting firm.
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| 23.3* | | |
Consent of Deloitte & Touche LLP, independent registered public accounting firm.
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| 24.1* | | |
Powers of Attorney (incorporated by reference to the signature page hereto).
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| 107* | | |
Filing Fee Table
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SIGNATURE
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TITLE
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/s/ Samuel D. Sledge
Samuel D. Sledge
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Chief Executive Officer and Director
(Principal Executive Officer) |
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/s/ Caleb Weatherl
Caleb Weatherl
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Chief Financial Officer
(Principal Financial Officer) |
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/s/ Celina A. Davila
Celina A. Davila
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Chief Accounting Officer
(Principal Accounting Officer) |
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/s/ Phillip A. Gobe
Phillip A. Gobe
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Chairman of the Board
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/s/ Spencer D. Armour III
Spencer D. Armour III
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Director
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/s/ Mark S. Berg
Mark S. Berg
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Director
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/s/ Anthony J. Best
Anthony J. Best
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Director
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SIGNATURE
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TITLE
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/s/ G. Larry Lawrence
G. Larry Lawrence
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Director
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/s/ Mary Ricciardello
Mary Ricciardello
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Director
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/s/ Michele Vion
Michele Vion
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Director
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/s/ Alex V. Volkov
Alex V. Volkov
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Director
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FAQ
What is ProPetro (PUMP) registering in this Form S-3?
ProPetro is using a Form S-3 shelf registration as a well-known seasoned issuer to cover potential future primary offerings of common stock, preferred stock and warrants, and to register 16,600,000 shares of existing common stock for resale by a selling stockholder.
Who is the selling stockholder for the 16,600,000 ProPetro shares?
The selling stockholder is Pioneer Natural Resources Pumping Services LLC, a Delaware limited liability company that is ultimately a wholly owned subsidiary of Exxon Mobil Corporation.
Will ProPetro receive any proceeds from the sale of the 16,600,000 shares?
No. The document states that ProPetro will not receive any of the proceeds from sales of these 16,600,000 shares; all proceeds from those resales will go to the selling stockholder.
How did the selling stockholder obtain the 16,600,000 ProPetro shares?
The 16,600,000 shares of common stock were issued to Pioneer in connection with ProPetro's acquisition of certain assets and real property from the selling stockholder under agreements dated December 31, 2018.
How might ProPetro use proceeds from any future primary offerings under the S-3 shelf?
Except as specified in a prospectus supplement, ProPetro intends to use any net proceeds it receives from primary offerings for general corporate purposes, including corporate and project overhead, capital expenditures, repayment of indebtedness and working capital.
How large is the selling stockholder's stake in ProPetro before any resale?
As of December 8, 2025, ProPetro had 104,310,266 shares of common stock outstanding. The table shows Pioneer beneficially owning 16,600,000 shares, representing 15.91% of the outstanding common stock before any sales under this prospectus.