Atlas plans $300 million convertible notes offering and gives preliminary Q1 results
Atlas Energy Solutions plans a private offering of $300 million of Convertible Senior Notes due 2031, subject to market conditions, with proceeds for capped call transactions, debt repayment and Caterpillar power equipment. The filing also gives unaudited, preliminary first-quarter 2026 estimates showing a net loss of $40.0 million to $43.3 million and adjusted EBITDA of $26 million to $30 million, which may change after review.
- Offering of $300 million of Convertible Senior Notes due April 15, 2031, with an option for up to an additional $45 million; interest rate and conversion terms to be set at pricing.
- Planned uses include about $66 million to repay Stonebriar advances (including a $5 million termination fee) and about $75 million to repay the 2023 ABL Credit Facility, with the remainder for general corporate purposes, including Caterpill
- Preliminary, unaudited Q1 2026 estimates: net loss of $40.0 million to $43.3 million and adjusted EBITDA of $26 million to $30 million; Ernst & Young has not reviewed these figures, and adjustments could be material.