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

THRC Holdings, LP, along with related entities and Dan Wilks, have increased their holdings in ProFrac Holding Corp. through multiple open market purchases of Class A common stock.

Summary

• THRC Holdings, LP, a significant shareholder in ProFrac Holding Corp. [ACDC], has reported the purchase of additional shares of Class A common stock.
• On May 28, 2024, THRC Holdings acquired 440,217 shares at a weighted average price of $9.49 per share, with individual prices ranging from $9.40 to $9.50.
• Following this transaction, THRC Holdings directly held 75,640,762 shares.
• On May 29, 2024, THRC Holdings acquired another 559,783 shares at a weighted average price of $9.32 per share, with individual prices ranging from $9.29 to $9.40.
• After the second transaction, THRC Holdings directly held 76,200,545 shares.
• These transactions were reported on Form 4 filings with the SEC.
• THRC Management, LLC, as the General Partner of THRC Holdings, and Dan Wilks, as the sole manager of THRC Management, may be deemed to beneficially own these shares due to their control over THRC Holdings' investment decisions.
• However, each reporting person disclaims beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects routine stock purchases by a major shareholder, indicating continued investment but without explicit positive or negative commentary.

Positives

• The increased stake by THRC Holdings could be interpreted as a sign of confidence in ProFrac Holding Corp.'s future prospects.

Industry Context

This activity is typical for major shareholders and investment firms, reflecting their ongoing investment strategies and views on the company's potential. Monitoring such transactions provides insights into investor sentiment and potential future actions.

Comparison to Industry Standards

• It is common for major shareholders to periodically adjust their positions in publicly traded companies.
• Similar transactions can be observed with other energy service companies where large shareholders increase or decrease their stakes based on their assessment of the company's performance and market conditions.
• For example, major shareholders in companies like Halliburton or Schlumberger often make similar adjustments to their holdings, which are closely watched by investors.

Stakeholder Impact

• The increased stake by THRC Holdings could reassure shareholders about the company's direction.
• The transactions may have a minor positive impact on the stock price in the short term.

Key Dates