ProFrac Sells $105M Power Assets and Plans $75M Equity Offering as Shares Plunge
By ATTN Desk · Editorial oversight: Sean Han
Introduction
ProFrac Holding Corp. (NASDAQ: ACDC; Korean: 프로프렙 홀딩) is a technology‐focused, vertically integrated energy services company. Founded in 2016 and headquartered in Willow Park, Texas, ProFrac provides hydraulic fracturing, proppant production, and complementary completion services to upstream oil and natural gas operators across North America. The company integrates equipment design with a sustainability-oriented approach to optimize well productivity and mitigate environmental impact.
Corporate Structure and Workforce
ProFrac operates within PF Holdings’ portfolio, utilizing shared supply-chain capabilities and strategic support. The company employs between 5,001 and 10,000 professionals, including engineers, operations staff, and safety specialists. Its manufacturing complex spans over 20 acres, allowing for in-house design and custom fabrication of fracturing fleets. The senior leadership team includes:
- Ladd Wilks, Chief Executive Officer and co-founder (2016)
- Austin Harbour, Chief Financial Officer, formerly Managing Director at Piper Sandler
- Matthew Greenwood, Chief Commercial Officer
- Paul Kaster, Senior Vice President, HSE, Compliance & Training
- Jeremy Spriggs, Senior Vice President of Operations
ProFrac Energy by Kamesh Vedula
Developments and News
- May 5, 2025: ProFrac, represented by Brown Rudnick, completed the $105 million sale of its mobile power generation assets and related intellectual property from subsidiary ProFrac GDM to Flotek Industries. A six-year dry lease covers 30 units—22 placed into service immediately and eight to follow in the second half of 2025.
- August 7, 2025: The company filed its Quarterly Report on Form 10-Q and a Current Report on Form 8-K with the SEC, covering the quarter ended June 30, 2025.
- August 12, 2025: ProFrac filed a prospectus supplement (Form 424B5) to offer $75 million of Class A common stock, with an underwriters’ option to purchase up to $11.25 million more. Controlling stockholders Dan Wilks and Farris C. Wilks indicated interest in acquiring approximately $20 million of shares.
Financial and Strategic Analysis
As of August 13, 2025, ProFrac shares closed at $3.8250, reflecting a decrease of 39.48% over the past 52 weeks, with a volume of 3,739,633 shares traded on NASDAQ (ACDC). Key trading metrics from Yahoo Finance include:
| Metric | Value |
|---|---|
| Closing Price (Aug 13) | $3.8250 |
| 52-Week Range | $3.67 – $10.70 |
| Intraday Market Cap | $607.46 M |
| Average Volume (3 mos) | 759,790 |
| 1-Year Target Estimate | $6.70 |
In Q3 2024 (ended September 30), ProFrac reported:
- Revenue of $575.3 million
- Net loss of $43.5 million
- Adjusted EBITDA of $134.8 million
- Free cash flow of $30.9 million
Management noted anticipated declines in activity across stimulation and proppant segments for Q4 2024 but projected a recovery in 2025. Approximately 72% of active fleets currently include electric or Tier 4 dual-fuel equipment, aligning with the company’s sustainability initiatives.
Market Position and Industry Context
ProFrac operates in the pressure‐pumping sector alongside major oilfield service providers. Its integrated model—covering project design, chemical and sand supply, logistics coordination, automation, and emissions reduction—aims to streamline customers’ completions programs and manage costs. While proppant volumes in West Texas were subdued toward the end of 2024, ProFrac’s focus on technology upgrades and cost management positions the company to manage industry cyclicality effectively. Increased demand for electric and natural gas-capable fleets is a critical component of its strategy to maintain operational utilization and enhance market share.
TL;DR
On May 5, 2025, ProFrac sold $105 million of power generation assets to Flotek under a six-year dry lease. The company’s stock closed at $3.8250 on August 13, 2025, reflecting a decline of 39.48% year-over-year. Filings on August 7 (10-Q and 8-K) included Q2 2025 results, and on August 12, ProFrac registered a $75 million Class A stock offering with major insiders expressing interest in acquiring $20 million. Management anticipates activity growth in 2025 driven by demand for electric and Tier 4 dual‐fuel frac fleets.