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Atlas Energy Solutions (AESI) just unveiled an update.
On March 5, 2024, the Company solidified its financial strategy through key agreements and amendments. They secured the cooperation of Hi-Crush Stockholders by entering a Registration Rights and Lock-Up Agreement, which outlines the resale registration of stock and a 90-day lock-up period post-Closing, with certain exceptions. Additionally, a Deferred Cash Consideration Note promising $111.8 million was issued, maturing in 2026 with variable interest rates based on payment method. Moreover, the Company expanded its borrowing capacity by amending the ABL Credit Agreement, increasing the credit line to $125 million and extending its maturity, while also negotiating a new Term Loan Amendment that allows an additional $150 million facility at a competitive interest rate. These strategic financial moves are expected to foster growth and stability, positioning the Company favorably in the market.
Learn more about AESI stock on TipRanks’ Stock Analysis page.