ProPetro proposes $500M convertible notes due 2031; amends ABL credit facility to $350M

ProPetro Holding Corp.

Proposes $500M convertible senior notes due Nov 2031; initial purchasers may buy additional $75M.
Net proceeds to fund capped call transactions (reduce dilution) and growth capital for power generation.
Amends ABL credit facility: maturity extended to May 2031, commitments increased to $350M, adds power equipment to borrowing base.
As of May 1, 2026: cash $154M; ABL borrowing base ~$150.8M; amendment includes $690M convertible debt basket.
Capped calls cover initial shares; if stock exceeds cap price, dilution may still occur.

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