Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ProFrac Holding Corp. incurred revolving credit of approximately $164 million with JPMorgan Chase Bank, N.A., as agent, and the lenders.
- Instrument
- revolving credit
- Principal
- approximately $164 million
- Counterparty
- JPMorgan Chase Bank, N.A., as agent, and the lenders
- Event
- incurrence
Exact text from the filing
In connection with the Merger, the ABL Borrower borrowed approximately $164 million under the Amended Credit Facility.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
ProFrac Holding Corp. completed an acquisition involving U.S. Well Services, Inc. for approximately $270 million (closed 2022-11-01).
- Action
- acquisition
- Counterparty
- U.S. Well Services, Inc.
- Consideration
- approximately $270 million
- Closing
- 2022-11-01
Exact text from the filing
Material Relationship The value of the aggregate equity issued in connection with the Merger, based on the PFHC Common Stock 10-day VWAP as of October 31, 2022, is approximately $270 million. In addition, ProFrac is using cash to retire approximately $170 million of USWS debt, leaving approximately $35 million of various forms of equipment related financing
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
ProFrac Holding Corp. amended amendment to each warrant agreement governing Rollover Warrants.
- Action
- amendment
- Agreement
- merger
Exact text from the filing
Prior to the Effective Time, ProFrac executed an amendment to each warrant agreement that governed each SPAC Warrant, Series A Warrant, Placement Agent Warrant and RDO Warrant (as such terms are defined in the Merger Agreement) (collectively, the “Rollover Warrants ”) to assume each Rollover Warrant as of the Effective Time in accordance with the terms thereof and the Merger Agreement.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ProFrac Holding Corp. amended Second Amendment, Consent and Limited Waiver to Term Loan Credit Agreement with Piper Sandler Finance LLC, as agent and collateral agent for the lenders (effective 2022-11-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Piper Sandler Finance LLC, as agent and collateral agent for the lenders
- Effective
- 2022-11-01
Exact text from the filing
On November 1, 2022, ProFrac entered into the Second Amendment, Consent and Limited Waiver to Term Loan Credit Agreement (the Term Loan Agreement as amended by the Second Amendment, Consent and Limited Waiver to Term Loan Credit Agreement, the “ Amended Term Loan Agreement ”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ProFrac Holding Corp. amended Second Amendment to the ABL Credit Facility with JPMorgan Chase Bank, N.A., as the agent, the collateral agent and the swingline lender valued at $200,000,000 to $280,000,000 (effective 2022-11-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., as the agent, the collateral agent and the swingline lender
- Value
- $200,000,000 to $280,000,000
- Effective
- 2022-11-01
Exact text from the filing
On November 1, 2022, ProFrac entered into the Second Amendment to the ABL Credit Facility (the ABL Credit Facility as amended by the Second Amendment to the ABL Credit Facility, the “ Amended Credit Facility ”).
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