Atlas Energy Solutions Announces Refinancing of Term Loan Facility
22 February 2025 - 9:05AM
Business Wire
Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the
“Company”) today announced that it has entered into an agreement
with Stonebriar Commercial Finance, LLC ("Stonebriar") to refinance
its existing term loan facility with a new $540.0 million single
advance term loan (the “Term Loan”). Proceeds from the Term Loan
will be used to repay the existing facility from Stonebriar and for
general corporate purposes. The Term Loan matures in seven years
with a final maturity date of March 1, 2032, will bear an interest
rate of 9.51%, and features mandatory amortization at a rate of
4.00% per annum until March 1, 2029, after which there is no
mandatory amortization.
About Atlas Energy Solutions
Founded in 2017, Atlas Energy Solutions Inc. (NYSE: AESI) is a
leading energy solutions provider, primarily serving the Permian
Basin of West Texas and New Mexico. Atlas operates 14 proppant
production facilities across the Permian Basin, including both
large-scale in-basin facilities and smaller distributed mining
units, making Atlas the largest Permian proppant provider. In
addition, we manage a portfolio of leading-edge logistics assets,
which includes our 42-mile Dune Express conveyor system, the only
proppant conveyor system in the world and the longest conveyor in
the United States. We also manage a fleet of over 120 trucks,
including early autonomous delivery systems, which are capable of
delivering expanded payloads due to our custom-manufactured
trailers and patented drop-depot process. Our approach to managing
proppant production and logistics is intently focused on leveraging
technology, automation, and remote operations to drive
efficiencies. We have a relentless mission to improve human beings’
access to the hydrocarbons that power our lives, and by doing so we
maximize value creation for our stockholders.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). Statements
that are predictive or prospective in nature, that depend upon or
refer to future events or conditions or that include the words
“may,” “assume,” “forecast,” “position,” “strategy,” “potential,”
“continue,” “could,” “will,” “plan,” “project,” “budget,”
“predict,” “pursue,” “target,” “seek,” “objective,” “believe,”
“expect,” “anticipate,” “intend,” “estimate” and other expressions
that are predictions of or indicate future events and trends and
that do not relate to historical matters identify forward-looking
statements. Examples of forward-looking statements include, but are
not limited to, statements regarding the entry into the Term Loan
and the anticipated use of proceeds therefrom; our business
strategy, industry, future operations and profitability; expected
capital expenditures and the impact of such expenditures on our
performance; statements about our financial position, production,
revenues and losses; our capital programs; management changes;
current and potential future long-term contracts; and our future
business and financial performance.
Although forward-looking statements reflect our good faith
beliefs at the time they are made, we caution you that these
forward-looking statements are subject to a number of risks and
uncertainties, most of which are difficult to predict and many of
which are beyond our control. These risks include but are not
limited to: uncertainties as to whether the transaction will
achieve its anticipated benefits and projected synergies within the
expected time period or at all; Atlas’s ability to integrate Moser
Energy Service, Inc.’s (d/b/a Moser Energy Systems) (“Moser”)
operations in a successful manner and in the expected time period;
risks that the anticipated tax treatment of Atlas’s acquisition of
Moser (the “Moser Acquisition”) is not obtained; unforeseen or
unknown liabilities; potential litigation relating to the Moser
Acquisition; unexpected future capital expenditures; the effect of
the completion of the Moser Acquisition on the parties’ business
relationships and businesses generally; potential difficulties in
retaining employees as a result of the Moser Acquisition; risks
related to future investments in our new distributed power
platform; potential negative effects of the completion of the Moser
Acquisition on the market price of Atlas’s common stock or
operating results; our ability to successfully execute our stock
repurchase program or implement future stock repurchase programs;
commodity price volatility, including volatility stemming from the
ongoing armed conflicts between Russia and Ukraine and Israel and
Hamas; increasing hostilities and instability in the Middle East;
adverse developments affecting the financial services industry; our
ability to complete growth projects on time and on budget; the risk
that stockholder litigation in connection with our recent corporate
reorganization may result in significant costs of defense,
indemnification and liability; changes in general economic,
business and political conditions, including changes in the
financial markets; transaction costs; actions of OPEC+ to set and
maintain oil production levels; the level of production of crude
oil, natural gas and other hydrocarbons and the resultant market
prices of crude oil; inflation; environmental risks; operating
risks; regulatory changes; lack of demand; market share growth; the
uncertainty inherent in projecting future rates of reserves;
production; cash flow; access to capital; the timing of development
expenditures; the ability of our customers to meet their
obligations to us; our ability to maintain effective internal
controls; and other factors discussed or referenced in our filings
made from time to time with the U.S. Securities and Exchange
Commission (“SEC”), including those discussed under the heading
“Risk Factors” in Annual Report on Form 10-K, filed with the SEC on
February 27, 2024, and any subsequently filed Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K. Readers are cautioned
not to place undue reliance on forward-looking statements, which
speak only as of the date hereof. Factors or events that could
cause our actual results to differ may emerge from time to time,
and it is not possible for us to predict all of them. We undertake
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
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Investor Contact Kyle Turlington 5918 W Courtyard Drive,
Suite #500 Austin, Texas 78730 United States T: 512-220-1200
IR@atlas.energy
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