ProFrac Holding announces $75M Class A common stock offering

ProFrac Holding (ACDC) Corp. announced that it has commenced an underwritten public offering of $75M of its Class A common stock. The company intends to use the net proceeds from the offering to repay borrowings outstanding under the company’s senior secured asset-based revolving credit agreement, to pursue potential investment opportunities and for working capital and other general corporate purposes. J.P. Morgan Securities LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.