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ProFrac Holding Corp. (NASDAQ:ACDC) ("ProFrac" or the "Company") today announced that it has commenced an underwritten public offering of $75,000,000 of its Class A common stock (the "Offering"). The Company intends to grant the underwriters a 30-day option to purchase up to an additional $11,250,000 of its Class A common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering to repay borrowings outstanding under the Company's senior secured asset-based revolving credit agreement, to pursue potential investment opportunities and for working capital and other general corporate purposes.
J.P. Morgan Securities LLC and Piper Sandler & Co. are acting as joint book-running managers for the Offering.
The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which were filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission ("SEC") on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC's website at www.sec.gov or by contacting J.P. Morgan Securities LLC, attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com or postsalemanualrequests@broadridge.com; or Piper Sandler & Co., by mail at attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Posted In: ACDC
