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Atlas Energy Solutions (AESI) has provided an update.
Atlas Energy Solutions Inc. has announced a strategic acquisition of Hi-Crush Inc., expanding their foothold in the Permian Basin proppant production and logistics industries. This deal, approved by Atlas’s board and encompassing a $150 million cash payment, 9.7 million shares of Atlas stock, and a secured seller note, signifies a notable consolidation in the energy sector. Upon completion, Hi-Crush shareholders will own about 8.8% of Atlas’s outstanding common stock, with closing conditions including stockholder approval and organizational restructuring. This transaction showcases Atlas’s commitment to growth and operational enhancement in the competitive energy market.
Learn more about AESI stock on TipRanks’ Stock Analysis page.