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FTS International To Be Taken Private By ProFrac Holdings For $26.52/share Cash - Quick Facts

FTS International, Inc. (FTSI) announced Friday that it has entered into a definitive agreement to be acquired by oilfield services company ProFrac Holdings, LLC in an all-cash transaction that values FTS at approximately $407.5 million, including payments to outstanding warrants.

Under the terms of the agreement, which has been unanimously approved by FTS' Board of Directors, FTS stockholders will receive $26.52 per share of FTS common stock in cash.

The transaction will create one of the largest completions focused service companies in the U.S. oil and gas industry.

The agreement includes a 45-day "go-shop" period expiring December 5, 2021. This allows the Board and its advisors to solicit alternative acquisition proposals from third parties.

The transaction with ProFrac is expected to close in the first quarter of 2022, subject to customary closing conditions, including approval by FTS stockholders and receipt of regulatory approvals. Upon closing of the transaction, the Company's common stock will no longer be listed on any public market.

FTS' Board recommends that FTS stockholders vote in favor of the transaction at the Special Meeting of Stockholders to be called in connection with the transaction.

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