The latest news from ProFrac Holding (NASDAQ:ACDC) proved to be a shot in the arm for its stock, with an 8.7% surge in Thursday’s trading after revealing that its Alpine Silica proppant production segment has filed a draft registration for an initial public offering (IPO) with the SEC.
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Alpine Silica, known for its frac sand reserves and production of five different sand products, operates in the Haynesville play in Louisiana and the Permian Basin of west Texas.
Notably, ProFrac (ACDC) had hinted at this move back in October, expressing its confidence in Alpine Silica’s ability to establish a distinct leverage profile and achieve significantly lower capital costs compared to the rest of the company.
