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Superior Drilling shares climb in first day of NYSE trading
First Published May 23 2014 12:25 pm • Last Updated May 23 2014 04:18 pm

Shares of Superior Drilling Products Inc. climbed 12.25 percent to $4.49 Friday on the company’s first day of trading on the New York Stock Exchange.

The Vernal-based provider of drilling products for the oil, natural gas and mining industries priced its initial public offering of 6.75 million shares at $4 per share.

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Superior now trades on the NYSE under the ticker symbol SDPI.

The company said it will use $12.5 million of the proceeds from the stock sale toward the acquisition of Hard Rock Solutions LLC.

It will use the remaining proceeds to repay debt and for working capital.

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