Atlas Energy Solutions (AESI) to Acquire Hi-Crush
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Atlas Energy Solutions Inc. to Acquire Hi-Crush Inc., Creating the Largest Proppant Producer in the Country and an Industry Leading Logistics Provider
February 27, 2024 6:00 AM ESTAUSTIN, 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-Crushs 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 Sellers Note. Both the up-front cash consideration and the principal amount of the Seller's... More
