ProFrac Holding Corp. Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

Indebtedness (Tables)

Indebtedness (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Debt Disclosure [Abstract]

Components of Debt

The following table summarizes the components of our debt as of June 30, 2022 and December 31, 2021:


(In thousands)	June 30, 2022			December 31, 2021
Old ABL Credit Facility	$	—		$	69,000
Old Term Loan		—			171,355
First Financial Loan		23,950			30,000
New ABL Credit Facility		143,350			—
New Term Loan Credit Facility		302,380			—
Best Flow Credit Facility (1)		—			7,101
Best Flow Note (1)		—			10,827
Alpine Promissory Note (1)		—			16,717
Flotek Convertible Notes		12,739			—
Other		12,626			1,695

Total gross debt		495,045			306,695
Less: unamortized debt issuance costs		(15,755	)		(5,129	)
Less: current portion of long-term debt		(51,329	)		(31,793	)

Total long-term debt	$	427,961		$	269,773

(1)	Related party debt agreements

The following table summarizes the components of our debt as of December 31, 2021 and December 31, 2020:


	December 31,			December 31,
	2021			2020
ABL Credit Facility	$	69,000		$	41,000
Term Loan		171,355			137,355
First Financial loan		30,000			—
Main Street loan		—			35,000
Tractor notes		—			3,911
Best Flow Credit Facility (1)		7,101			37,303
Best Flow notes payable (1)		—			—
Best Flow Note (1)		10,827			—
Alpine Promissory Note (1)		16,717			—
Alpine Credit Facility (1)		—			21,135
Other		1,695			5,829

Total gross debt		306,695			281,533
Less: unamortized debt issuance costs		(5,129	)		(5,820	)
Less: current portion of long-term debt		(31,793	)		(15,484	)

Total long-term debt	$	269,773		$	260,229

(1)	Related party debt agreements.

Summary of Principal Maturity Schedule

The following table summarizes the principal maturity schedule for our long-term debt outstanding as of June 30, 2022:


	2022		2023		2024		2025		2026		Thereafter		Total
First Financial loan	$	8,659	$	15,291	$	—	$	—	$	—	$	—	$	23,950
New ABL Credit Facility		—		—		—		—		—		143,350		143,350
New Term Loan Credit Facility		7,560		15,120		15,120		264,580		—		—		302,380
Flotek Convertible Notes		—		12,739		—		—		—		—		12,739
Other.		7,803		1,908		1,907		543		79		386		12,626

Total	$	24,022	$	45,058	$	17,027	$	265,123	$	79	$	143,736	$	495,045

The following table summarizes the principal maturity schedule for our long-term debt outstanding as of December 31, 2021:


	2022		2023		2024		2025		2026		Thereafter		Total
ABL Credit Facility (1)	$	—	$	—	$	—	$	—	$	—	$	69,000	$	69,000
Term Loan (1)		16,875		22,500		22,500		109,480		—		—		171,355
First Financial loan		14,110		15,890		—		—		—		—		30,000
Best Flow Credit Facility (1)		—		—		—		—		—		7,101		7,101
Best Flow Note (1)		—		—		—		—		—		10,827		10,827
Alpine Promissory Note (1)		—		—		—		—		—		16,717		16,717
Other indebtedness		808		173		152		101		75		386		1,695

Total	$	31,793	$	38,563	$	22,652	$	109,581	$	75	$	104,031	$	306,695

(1)

Principal maturity for these facilities reflect the terms of the New ABL Credit Facility, the New Term Loan Credit Facility and the Equify Bridge Note which refinanced these facilities subsequent to December 31, 2021, however the presented amounts due at maturity in the schedule above are limited by the balances outstanding as of December 31, 2021. See Note 11 - Subsequent Events for additional detail and a schedule of the full principal repayment obligations as of March 30, 2022.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details