secwatch.observer — SEC 8-K summary
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Issuer:     ProPetro Holding Corp. (PUMP)
CIK:        0001680247
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001680247-22-000028
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.02, 3.02, 3.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProPetro acquires Silvertip for $150M; Q3 revenue $333M, net income $10M
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- Acquired Silvertip for $150M (10.1M shares + $30M cash + $7M debt) on Nov 1, 2022.
- Q3 revenue $333M (+6% QoQ), net income $10M ($0.10/sh), vs net loss of $33M in Q2.
- Adjusted EBITDA $90M (27% of revenue) up 18% QoQ.
- Entered two pressure pumping service agreements with Pioneer for two fleets starting Jan 1, 2023.
- Silvertip expected to add $65-75M to 2023 Adjusted EBITDA with ~80% conversion to FCF.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1680247/000168024722000028/0001680247-22-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1680247/000168024722000028/pump-20221031.htm
  HTML page:      https://secwatch.observer/filing/0001680247-22-000028

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