09:58 AM EDT, 07/23/2024 (MT Newswires) -- Archrock ( AROC ) said Tuesday it has priced an underwritten public offering of 11 million of its common shares at $21 per share, for total net proceeds of roughly $223 million.

The company has offered the underwriters a 30-day option to buy up to another 1.7 million of its common stock, Archrock ( AROC ) added.

The energy infrastructure firm said it intends to use the net proceeds to finance the cash part of a previously announced purchase price to acquire issued and outstanding membership interests of Total Operations and Production Services.

The offering is expected to close Wednesday.

Archrock's ( AROC ) stock was down 5.1% in recent Tuesday trading.

Price: 22.16, Change: -1.20, Percent Change: -5.12