ProFrac Holding evaluating strategic options for Proppant Production segment

ProFrac Holding announces that it is evaluating strategic options to maximize and realize the full value of its Proppant Production segment, which operates through its wholly-owned Alpine Silica subsidiary. A variety of options are under strategic review, including a public offering, a sale or merger of Alpine Silica and/or a potential recapitalization. In connection with its strategic review, the company also announces that entities affiliated with its largest shareholders, the Wilks Family, have invested $50M in perpetual convertible preferred equity securities issued by the company at a conversion price of $20.00 per share. Proceeds of the investment will primarily be used to reduce the company’s indebtedness. No specific timeline has been established for the completion of the evaluation of strategic alternatives for Alpine Silica.