Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Archrock, Inc. completed an acquisition involving Total Operations and Production Services, LLC (TOPS) for cash equal to $820 million, 6,873,650 newly issued shares of Archrock common stock, and up to $6 million in deferred cash payments (closed 2024-08-30).
- Action
- acquisition
- Counterparty
- Total Operations and Production Services, LLC (TOPS)
- Consideration
- cash equal to $820 million, 6,873,650 newly issued shares of Archrock common stock, and up to $6 million in deferred cash payments
- Closing
- 2024-08-30
Exact text from the filing
On the Closing Date, Archrock and Archrock ELT LLC, an indirect, wholly owned subsidiary of Archrock (“Archrock ELT”), completed the previously announced acquisition (the “Transaction”) of all the issued and outstanding equity interests in Total Operations and Production Services, LLC (“TOPS”), pursuant to the terms of that certain Purchase and Sale Agreement, dated July 22, 2024 (the “Purchase and Sale Agreement”), by and among Archrock, Archrock ELT, the Sellers, and, solely with respect to Section 6.25 of the Purchase and Sale Agreement, TOPS Holdings, LLC, a Delaware limited liability company. The total consideration for the Transaction consisted of: (i) cash equal to $820 million (the “Cash Consideration”), (ii) 6,873,650 newly issued shares of Archrock’s common stock, par value $0.01 per share (“Archrock Common Stock” and such shares of Archrock Common Stock, the “Stock Consideration”), and (iii) up to $6 million in deferred cash payments payable pursuant and subject to the terms
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