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AI brief of an SEC Form 8-K · RPC (RES)

RPC Acquires Pintail Completions for $245 million in Permian Wireline Deal

Neutral Impact 4 of 5 m&a Written later

RPC, Inc. completed its purchase of Pintail Alternative Energy, a Permian Basin wireline services provider, on April 1, 2025, for a purchase price of $245 million. The cash portion came from RPC's cash on hand, and the rest was paid in restricted RPC stock and a $50 million seller note, which adds a future debt obligation for shareholders to track.

Key points

  • Purchase price of $245 million: about $170 million cash, $25 million in restricted RPC stock (4,545,454 shares), and a $50 million secured seller note
  • Seller note repayments: $20 million on the first anniversary, $10 million on the second, and the remaining principal on the third; interest is SOFR plus 2.0%
  • Pintail's full-year 2024 revenue was approximately $409 million, according to RPC's press release
  • Approximately $2 million of the cash payment is in escrow, pending final closing adjustments

The filing

CompanyRPC (RES)
Form8-K, current report
Filed with the SECApr 4, 2025, 6:27 PM ET
Accession number0001558370-25-004495

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 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 April 04, 2025.

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.