Atlas Energy Solutions Inc. to Acquire Hi-Crush Inc., Creating the Largest Proppant Producer in the Country and an Industry Leading Logistics Provider
Atlas Energy Solutions Inc. (AESI)
Company Research
Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today announced that it has entered into a definitive agreement with Hi Crush Inc. ("Hi-Crush") to acquire all of Hi-Crush’s Permian Basin proppant production assets and North American logistics operations in a transaction valued at $450 million (1).The transaction consideration includes $150 million in up-front cash, $175 million in shares of common stock of AESI and $125 million in deferred cash payments in the form of a Seller’s Note. Both the up-front cash consideration and the principal amount of the Seller's Note are subject to revision for customary post-closing adjustments.Acquisition HighlightsCombination brings together two of the leading innovators in the Permian proppant space, and two of the largest holders of premium giant open dune sand reserves and resources in the PermianPro forma production capacity expected to be ~28 million tons, with ~80% of pro forma 2024 produ
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AESI
News
- Kermit Facility Operational Update [Yahoo! Finance]Yahoo! Finance
- Kermit Facility Operational UpdateBusiness Wire
- Atlas Energy Solutions Inc. (NYSE: AESI) had its price target raised by analysts at Raymond James from $26.00 to $27.00. They now have a "strong-buy" rating on the stock.MarketBeat
- Atlas Announces Timing of First Quarter 2024 Earnings Release and Conference Call [Yahoo! Finance]Yahoo! Finance
- Atlas Announces Timing of First Quarter 2024 Earnings Release and Conference CallBusiness Wire
AESI
Earnings
- 2/27/24 - Miss
AESI
Sec Filings
- 4/19/24 - Form 4/A
- 4/19/24 - Form 4/A
- 4/19/24 - Form 4
- AESI's page on the SEC website