Form 4: THRC Holdings Increases Stake in ProFrac Holding Corp. (ACDC) with Recent Stock Purchases

THRC Holdings, LP, along with related entities and Dan Wilks, reported purchasing additional shares of ProFrac Holding Corp. (ACDC) Class A common stock, increasing their beneficial ownership.

Summary

• THRC Holdings, LP, a significant shareholder of ProFrac Holding Corp. (ACDC), has reported purchasing additional shares of Class A common stock.
• On August 30, 2024, THRC Holdings acquired 6,136 shares at a weighted average price of $6.99 per share, in prices ranging from $6.69 to $6.70.
• On September 3, 2024, the entity purchased 786,193 shares at a weighted average price of $6.49 per share, in prices ranging from $6.37 to $6.60.
• Following these transactions, THRC Holdings' beneficial ownership increased to 78,197,549 shares of Class A common stock.
• The filing also clarifies the roles of THRC Management, LLC, as the General Partner of THRC Holdings, and Dan Wilks, as the sole manager of THRC Management, in exercising voting and investment control over the shares.
• The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The increased stake by a major shareholder could be seen as a vote of confidence, but it's a routine filing and doesn't necessarily indicate a major shift in the company's prospects.

Positives

• Increased investment by a major shareholder could be interpreted as a positive signal about the company's prospects.

Management Comments

• Each Reporting Person disclaims beneficial ownership of all equity securities reported herein except to the extent of its respective pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any equity securities covered by this Form 4.

Industry Context

Form 4 filings are routine disclosures required by the SEC when insiders or major shareholders of a publicly traded company buy or sell the company's stock; this filing indicates increased ownership by a significant shareholder.

Stakeholder Impact

• The increased stake by a major shareholder could increase investor confidence.

Key Dates