ProFrac Holding Corp. (ACDC): debt financing — ProFrac draws $80M of $150M delayed term loan; consents to Producers and REV acquisitions

ProFrac Holding Corp.

Funded $80M of delayed draw Term B Loans on Jan 4, 2023; up to $150M available through Dec 31, 2023.
Third Term Loan Amendment consents to acquisitions of Producers Service Holdings and REV Energy Holdings.
Also amended ABL Credit Facility to allow REV Energy seller financing and the same acquisitions.
Total term loan outstanding after funding approximately $599.2 million.
Amendments dated December 30, 2022; $80M draw completed by certain existing and new lenders.

item 1.01 item 2.03 item 9.01

Key facts

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 term loan of $80.0 million with the lenders.

Instrument: term loan
Principal: $80.0 million
Counterparty: the lenders
Event: incurrence

Exact text from the filing

On January 4, 2023, certain of the existing and certain new term lenders under the Amended Term Loan Agreement funded ProFrac II LLC’s request for $80.0 million of Delayed Draw Term B Loans

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ProFrac Holding Corp. amended term loan of up to $150.0 million with Piper Sandler Finance LLC.

Instrument: term loan
Principal: up to $150.0 million
Counterparty: Piper Sandler Finance LLC
Event: amendment

Exact text from the filing

in each case, subject to the terms and conditions set forth therein, to: (i) allow ProFrac II LLC to request Delayed Draw Term B Loans in an aggregate principal amount of up to $150.0 million, (ii) the consummation of the previously disclosed acquisition of each of Producers Service Holdings LLC (“ Producers ”) and REV Energy Holdings, LLC (“ REV ”) by ProFrac II LLC,

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ProFrac Holding Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-003551

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