PFHC - ProFrac closes on U.S. Well Services acquisition
ProFrac Holding ( NASDAQ: PFHC ) said Tuesday it closed on its acquisition of U.S. Well Services ( NASDAQ: USWS ) in a stock-for-stock merger transaction , in which ProFrac issued ~12.9M common shares to holders of U.S. Well shareholders.
The company said it is retiring $170M of U.S. Well debt, leaving $35M of various forms of equipment related financing outstanding.
ProFrac ( PFHC ) said its common shares will begin trading on NASDAQ under the ACDC ticker symbol prior to the market open on November 2.
ProFrac's ( PFHC ) Q2 EBITDA and revenues handily beat Wall Street estimates .
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ProFrac closes on U.S. Well Services acquisition