secwatch.observer — SEC 8-K summary
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Issuer:     ProFrac Holding Corp. (ACDC)
CIK:        0001881487
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0001193125-23-052415
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProFrac completes $475M acquisition of Performance Proppants, upsizes ABL to $400M
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- Acquired Performance Proppants for $475M ($469M cash + $6M stock) – largest in-basin proppant producer in Haynesville.
- ABL credit facility upsized from $280M to $400M; borrowed $298M for acquisition, leaving $79M available.
- Acquisition adds 10.4M tons/year proppant capacity; total capacity now 22.6M tons/year across Permian, Eagle Ford, Haynesville.
- ProFrac issued 312,826 shares of Class A common stock as part of consideration.
- Piper Sandler served as financial advisor; Winston & Strawn and Lowenstein Sandler as legal advisors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1881487/000119312523052415/0001193125-23-052415-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1881487/000119312523052415/d423318d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-052415

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer