Smart Sand repurchases 5.18M shares from Clearlake Capital Partners for $8.85M

Smart Sand announced that it has repurchased 5.18M shares of the company’s common stock from Clearlake Capital Partners II, an affiliate of Clearlake Capital Group, for approximately $8.85M, of which $4.42M was paid in cash and the remainder was financed through an unsecured promissory note issued to Clearlake. The promissory note will mature on December 15. The Shares represent all of the common stock owned by Clearlake and approximately 11.3% of the outstanding shares of the company’s common stock immediately prior to the purchase.