Wilks Family Lifts ProFrac Stake to 83.1% with $3.6M in Open-Market Buys
ACDC sits 85% above its 52-week low of $3.08.
Summary
The Wilks family increased their ProFrac stake to 83.1% through $3.6M in open-market purchases by THRC Holdings and a contract-based share issuance to Wilks Brothers LLC.
Key Events · Ownership and Investor Activity · ACDC
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Wilks Family Buys 720K Shares
THRC Holdings purchased 517,669 shares at $4.86 on Aug 10 and 202,331 shares at $5.44 on Aug 11, totaling $3.6M.
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Stake Rises to 83.1%
Aggregate beneficial ownership increased to 153,640,096 shares, representing 83.1% of outstanding Class A common stock.
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Contract-Based Share Issuance
Wilks Brothers LLC received 1,071,454 shares on June 25 at $4.72 per share pursuant to a contract, adding to family holdings.
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Insider Accumulation Trend
Over the past 90 days, insiders have bought $4.0M in open-market shares with zero sales, signaling strong conviction.
Analysis · ACDC · Energy & Transportation
The Wilks family, already the dominant shareholder group, added 720,000 shares via THRC Holdings at prices between $4.86 and $5.44, lifting their aggregate beneficial ownership to 83.1% of ProFrac's Class A common stock. This follows a pattern of accumulation—insider activity over the past 90 days shows $4.0M in open-market buys with zero sales. The purchases come just days after the company reported a narrower Q2 loss and announced a CEO resignation, suggesting the family is using the dip to consolidate control. The filing also reveals Wilks Brothers LLC received 1.07M shares on June 25 at $4.72 per share under a contract, adding to the family's holdings without open-market cash outlay.
At the time of this filing, ACDC was trading at $5.70 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $936.1M. The 52-week trading range was $3.08 to $8.22. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.