US Well Services Shares Up 34%; ProFrac Agrees to Acquire Company

Dow Jones2022-06-22

By Stephen Nakrosis

Shares of U.S. Well Services. Inc. were trading higher in Tuesday's after-hours market, following news that ProFrac Holding Corp. agreed to acquire the company in an all-stock transaction.

The deal will see U.S. Well shareholders receive 0.0561 share of ProFrac Class A common stock for each U.S. Well share held, the companies said. The acquisition is expected to be completed in the fourth quarter of this year.

At 6:19 p.m. ET, shares of U.S. Well Services were trading 34.14% higher at 95 cents a share. The stock finished the day's regular session with a 5.54% gain, closing at 71 cents a share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

$(END)$ Dow Jones Newswires

June 21, 2022 18:24 ET (22:24 GMT)

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