ProFrac amends Alpine term loan; Wilks affiliates take $60 million of loans
On September 11, 2026, ProFrac and the parties to its Alpine term loan signed Amendment No. 5, which cuts required quarterly principal payments to $0 through March 31, 2028 and extends maturity to February 15, 2030. The same day, $60 million of term loans was assigned to THRC Holdings and Farris C. Wilks, a co-founder and principal stockholder, and was repaid through the transfer of 2,306,806 Flotek shares owned by a ProFrac subsidiary, which gives the company near-term repayment relief but also a related-party transaction and tighter cash-flow and distribution terms.
Key points
- Quarterly amortization reduced from $15 million to $0 for quarters ending September 30, 2026 through March 31, 2028, then $10 million per quarter.
- Maturity extended from January 26, 2029 to February 15, 2030; PFP Holding may pay 675 basis points of interest in kind for 12 months from September 1, 2026.
- $60 million of 2026 Term Loans assigned to THRC Holdings ($34.32 million) and Farris C. Wilks ($25.68 million) and cancelled in exchange for 2,306,806 Flotek shares.
- Borrower must prepay 100% of excess cash flow each quarter, and company distributions are restricted to a $1 million annual basket.
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 16, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.