Form 4: THRC Holdings, LP Increases Stake in ProFrac Holding Corp. (ACDC) with Recent Stock Purchases
SEC Form 4 Filing
THRC Holdings, LP, a significant shareholder in ProFrac Holding Corp. (ACDC), has increased its holdings through open market purchases of Class A common stock.
Summary
- THRC Holdings, LP, along with related entities THRC Management, LLC and Dan Wilks, filed a Form 4 disclosing changes in beneficial ownership of ProFrac Holding Corp. (ACDC) stock.
- On August 15, 2024, THRC Holdings purchased 130,000 shares of Class A common stock at a weighted average price of $6.49 per share, with individual prices ranging from $6.36 to $6.50.
- On August 16, 2024, an additional 19,871 shares were purchased at a weighted average price of $6.48 per share, with individual prices ranging from $6.42 to $6.50.
- Following these transactions, THRC Holdings, LP directly holds 76,820,416 shares of ProFrac Holding Corp.'s Class A common stock.
- The filing clarifies that the reported amount of securities beneficially owned does not include the 30,000 Series A Redeemable Convertible Preferred Stock as reported on 10/3/23.
- THRC Management, LLC, as the General Partner of THRC Holdings, has voting and investment control over the shares.
- Dan Wilks, as the sole manager of THRC Management, is also deemed to have voting and investment power over the shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. The increased stake suggests confidence, but it's a routine transaction.
Positives
- Increased investment by a major shareholder could be interpreted as a positive signal about the company's prospects.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the trading activities of company insiders and major shareholders. These filings are closely watched by investors for insights into management's and major shareholders' perspectives on the company's value and future prospects.
Stakeholder Impact
- The increased stake by THRC Holdings could reassure shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/03/2023 | Date of previous report regarding 30,000 Series A Redeemable Convertible Preferred Stock. |
| 08/15/2024 | Date of first reported transaction: purchase of 130,000 shares. |
| 08/16/2024 | Date of second reported transaction: purchase of 19,871 shares. |
| 08/19/2024 | Date of filing of the Form 4. |
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