LEXPERT MAGAZINE
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JULY/AUGUST 2017 25
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CORPORATE TRANSACTIONS OF IMPORTANCE
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Skadden, Arps, Slate, Meagher & Flom
LLP acted as US counsel to the Company
with a team that included Christopher Mor-
gan and Annabelle Gardere (M&A/securi-
ties) and Eric Sensenbrenner, Jared Binstock
and Brooke Johnson (tax).
Baker & McKenzie LLP acted as Cana-
dian counsel to the agents in connection with
the public offering with a team that included
Sonia Yung, Ora Wexler and Ashley Staley.
Oil & Gas Oil & Gas
STEP ENERGY SERVICES LTD.
COMPLETES $100M IPO
CLOSING DATE: MAY 2, 2017
On May 2, 2017, STEP Energy Services Ltd.
(STEP) completed an initial public offering
of 10 million common shares at $10 per com-
mon share for aggregate gross proceeds of
$100 million. e common shares of STEP
are listed on the Toronto Stock Exchange un-
der the symbol "STEP."
e offering was made through a syndi-
cate of underwriters co-led by CIBC World
Markets Inc. and Raymond James Ltd. e
syndicate also including BMO Nesbitt
Burns Inc., Peters & Co. Limited, RBC
Dominion Securities Inc., GMP Securities
L.P., National Bank Financial Inc., Scotia
Capital Inc. and AltaCorp Capital Inc.
(collectively, the Underwriters).
e limited partnerships comprising ARC
Energy Fund 6 and ARC Energy Fund (col-
lectively, the Selling Shareholders) have
granted to the Underwriters an over-allot-
ment option, exercisable in whole or in part
for a period of 30 days following the closing
of the Offering, to purchase up to an aggre-
gate of an additional 1.5 million common
shares of STEP from the Selling Sharehold-
ers at a price of $10.00 per common share.
STEP Energy Services is an oilfield ser-
vice company that provides specialized and
fully integrated coiled tubing and fracturing
solutions. STEP's corporate headquarters is
located in Calgary. e company has coiled
tubing and fracturing operations spanning
across Western Canada, along with coiled
tubing operations in Texas.
STEP was represented in-house by Joshua
Kane, General Counsel. STEP was represent-
ed externally by Stikeman Elliott LLP as to
matters of Canadian law, with a team that
included Craig Story, Benjamin Hudy, Janel
Young and Rhonda Ferguson (corporate and
securities) and Julie D'Avignon (tax); and by
ompson & Knight LLP as to matters of
US law, with a team that included Jeremiah
Mayfield, Stephen Grant and Alan Baden
(corporate and securities).
e Underwriters were represented by
Dentons Canada LLP as to matters of Ca-
nadian law, with a team that included Tim
Haney, Dan Shea, Adam Hassan and Rich-
ard Steed (corporate and securities). Den-
tons US LLP represented the Underwriters
as to matters of US law, with a team that in-
cluded Steve Berson and John Griffee (corpo-
rate and securities).
e Selling Shareholders were represented
by Bennett Jones LLP. e team from Ben-
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