secwatch.observer — SEC 8-K summary
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Issuer:     MAMMOTH ENERGY SERVICES, INC. (TUSK)
CIK:        0001679268
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001679268-23-000063
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mammoth sells $54.4M PREPA receivable at 88% for $46.3M net, repays revolver
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- Cobra sold $54.4M net PREPA claim to SPCP Group at 88% of face; net proceeds $46.3M.
- Proceeds used $26.9M to fully repay revolving credit facility, now undrawn; remainder for dual fuel upgrades.
- If PREPA claim is disallowed below transferred amount, Cobra must repurchase unpaid portion at purchase rate plus 6% interest.
- Wexford waived 50% mandatory PREPA proceeds remittance to term loan, preserving cash.
- Unpaid balance after March 31, 2024 accrues 1% compounded monthly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679268/000167926823000063/0001679268-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679268/000167926823000063/tusk-20231201.htm
  HTML page:      https://secwatch.observer/filing/0001679268-23-000063

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