U.S. Silica to be acquired by Apollo Funds for $15.50 per share in cash

U.S. SILICA HOLDINGS, INC.

All-cash deal valued at $15.50 per share; Board unanimously approved and recommends adoption.
Go-shop period allows U.S. Silica to solicit alternative proposals until June 10, 2024.
Termination fees: $41.75M (Company) or $87.3M (Parent) under certain conditions.
Apollo Funds commit $1.15B equity; $1.275B debt financing committed by financial institutions.
Merger expected to close in Q3 2024, subject to stockholder approval and HSR clearance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

U.S. SILICA HOLDINGS, INC. entered into Merger Agreement with Star Holding LLC and Star Merger Co. valued at $15.50 in cash (effective 2024-04-26).

Action: entry
Agreement: merger
Counterparty: Star Holding LLC and Star Merger Co.
Value: $15.50 in cash
Effective: 2024-04-26

Exact text from the filing

On April 26, 2024, U.S. Silica Holdings, Inc., a Delaware corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Star Holding LLC, a Delaware limited liability company (“ Parent ”), and Star Merger Co., a Delaware corporation and a wholly owned subsidiary of Parent (“ Merger Sub ”).

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Source: SEC EDGAR

accession 0001193125-24-115933

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