ProFrac Holding Corp. To Change Ticker Symbol To "ACDC" On November 2

Author: Benzinga Newsdesk | November 01, 2022 11:16am

ProFrac Holding Corp. (NASDAQ:PFHC) ("ProFrac" or the "Company") today announced that its Class A Common Stock will begin trading on NASDAQ under the ticker symbol "ACDC" prior to market open on November 2, 2022. This will replace the Company's current ticker symbol, "PFHC," which has been used since its initial public offering in May 2022. No action by the Company's shareholders is required with respect to the ticker symbol change. The Company's Class A Common Stock will continue to be listed on NASDAQ and its CUSIP number will remain unchanged.

Matt Wilks, ProFrac's Executive Chairman, commented, "Our acquisition of U.S. Well Services announced earlier today solidifies ProFrac's position as the industry leader in electric hydraulic fracturing, which we believe represents the future of the industry. By changing our ticker symbol to "ACDC," we want to commemorate our market leadership so investors can recognize that we own the industry's leading intellectual property portfolio that gave rise to electric frac technology with the market's first e-fleet deployment in 2014, which includes over 110 patents. Importantly, our ESG strategy will be greatly enhanced by reducing fuel costs and minimizing our emissions footprint. In today's environment, we believe electric frac fleets provide improved efficiency, lower R&M costs, greater value, and a lower overall cost of completion to our customer. We believe this a true win-win scenario for us, our investors, our customers, the environment and the communities in which we operate."

Posted In: PFHC