ProFrac to acquire US Well Services by expanding the fleet of fracturing solutions (NASDAQ: USWS)

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US Well Services (NASDAQ:USWS) + 33.6% after placing on the market after ProFrac Holdings (NASDAQ:PFHC) agreed to acquire the company in a share transaction with an exchange rate of 0.0561 ProFrac ordinary shares for each ordinary share of US Well.

ProFrac (PFHC) said that the combined company will be the largest provider of electric breaking services, with 12 electric fleets and will expand its total active fleet to 44 by the end of 2022.

The company expects the deal to lead to $ 35 million in annual cost synergies and eliminate expected US Well license fees (USWS) of $ 22.5 million per year over the next four years.

Earlier on Tuesday, ProFrac (PFHC) announcements purchase of two subsidiaries of Permian Basin from Signal Peak Silica for ~ 90 million dollars.

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