It’s the billion-dollar deal that wasn’t. FMSA Holdings Inc. sold far fewer shares than planned late Thursday and priced them far below the expectations for the producer of sand used in oil and gas exploration and production. More Reading The company, which is owned by private-equity firm American Securities LLC, intended to sell 44.5 million shares for between $21 and $24 a share, according to regulatory filings. At the high end of the range, the deal would have been worth $1.07 billion . Instead the Chesterland, Ohio, company sold 25 million shares for $16 apiece. The downsized deal raised $400 million. A spokeswoman for FMSA said the company chose to reduce the offering given “challenging market conditions.” In Thursday trading, U.S. oil prices fell below $90 a barrel for the first time in 17 months before recovering to end slightly above $91. Futures have been tumbling for months on […]