Mammoth Energy sells Aquawolf engineering unit to Qualus for $30M; net cash $23.5M

MAMMOTH ENERGY SERVICES, INC.

Sale price $30.0M; closing cash proceeds $23.5M, $2.5M escrow for post-closing adjustments and indemnities.
Aquawolf 2024 revenue $17.3M (up from $12.1M in 2022), net income $1.8M (up from $1.1M).
CFO states monetization reinforces belief that underlying value is disconnected from current share price.
Fifth Third Bank consented to transaction and released collateral; borrowing base unchanged.
Pro forma financials reflect discontinued ops for engineering, T&D, and pressure pumping transactions.

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