ProFrac Holding Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Dec. 31, 2023


	December 31,
	2023			2022
ProFrac Holding Corp.:
2022 Term Loan (1)	$	—		$	519.2
2029 Senior Notes (1)		520.0			—
2022 ABL Credit Facility		117.4			234.3
First Financial Loan (1)		—			16.6
REV Note (1)(2)		—			39.0
Equify Notes (2)		18.6			23.8
Finance lease obligations		8.6			9.3
Other		13.8			11.8
ProFrac Holding Corp. principal amount		678.4			854.0
Less: unamortized debt discounts, premiums, and issuance costs		(17.4	)		(23.6	)
Less: current portion of long-term debt		(47.2	)		(79.6	)
ProFrac Holding Corp. long-term debt, net		613.8			750.8

Alpine Subsidiary:
Alpine 2023 Term Loan (1)		365.0			—
Monarch Note		54.7			87.5
Finance lease obligations		2.1			—
Alpine principal amount		421.8			87.5
Less: unamortized debt discounts, premiums, and issuance costs		(22.0	)		(10.4	)
Less: current portion of long-term debt		(71.6	)		(32.8	)
Alpine long-term debt, net		328.2			44.3

Flotek Subsidiary:
Flotek Convertible Notes		—			12.7
Flotek Paycheck Protection Program		—			4.8
Flotek ABL credit facility		7.5			—
Flotek other		0.2			0.4
Flotek principal amount		7.7			17.9
Less: current portion of long-term debt		(7.6	)		(15.2	)
Flotek long-term debt, net		0.1			2.7

Consolidated:
Total principal amount		1,107.9			959.4
Less: unamortized debt discounts, premiums, and issuance costs		(39.4	)		(34.0	)
Less: current portion of long-term debt		(126.4	)		(127.6	)
Total long-term debt	$	942.1		$	797.8

(1)

In December 2023, the Company refinanced all of the outstanding principal amount of 2022 Term Loan, the REV Note, and the First Financial Loan with a new issuance of 2029 Secured Notes and the 2023 Alpine Term Loan.

(2)

Related party debt agreements.

Summary of Principal Maturity Schedule

principal maturity schedule for our debt outstanding is as follows:


	2024		2025		2026		2027		2028		Thereafter		Total
ProFrac Holding Corp.:
2029 Senior Notes		30.0		60.0		60.0		60.0		60.0		250.0		520.0
2022 ABL Credit Facility		—		—		—		117.4		—		—		117.4
Equify Notes		5.0		5.0		5.0		3.6		—		—		18.6
Finance lease obligations		2.3		2.2		2.0		1.8		0.3		—		8.6
Other		9.9		2.6		0.6		0.6		0.1		—		13.8
ProFrac Holding Corp. principal amount		47.2		69.8		67.6		183.4		60.4		250.0		678.4

Alpine Subsidiary:
Alpine 2023 Term Loan		15.0		60.0		60.0		60.0		60.0		110.0		365.0
Monarch Note		54.7		—		—		—		—		—		54.7
Finance lease obligations		1.9		0.2		—		—		—		—		2.1
Alpine principal amount		71.6		60.2		60.0		60.0		60.0		110.0		421.8

Flotek Subsidiary:
Flotek ABL credit facility		7.5		—		—		—		—		—		7.5
Flotek other		0.1		0.1		—		—		—		—		0.2
Flotek principal amount		7.6		0.1		—		—		—		—		7.7

Total principal amount	$	126.4	$	130.1	$	127.6	$	243.4	$	120.4	$	360.0	$	1,107.9

- 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.

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+ Details