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ProFrac Holding (NASDAQ:ACDC) +8.7% in trading Thursday after it said its Alpine Silica proppant manufacturing segment had confidentially filed a draft registration with the SEC for a proposed initial public offering.
Alpine Silica operates frac sand reserves and produces a total of five different sand products Louisiana in the Haynesville area and the Permian Basin of West Texas.
ProFrac (ACDC) said in October it was exploring options for the segment and believed at the time that “Alpine Silica can support a different leverage profile and significantly lower cost of capital compared to the rest of ProFrac.”
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