Montauk Renewables (MNTK) IPO Opens 53% Higher

Today's IPO for Montauk Renewables, Inc. (NASDAQ: MNTK) opened for trading at $13 after pricing 3,047,015 shares at a price of $8.50 per share. 2,350,000 of the shares are being offered by the Company and 697,015 of the shares are being offered by Montauk Holdings Limited, the selling stockholder.

Roth Capital Partners is acting as sole manager of the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 352,500 shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

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