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PRNewsWire
6 months ago
Mammoth Energy Services, Inc. Announces Sale of Infrastructure Subsidiaries
Cash Position Grows to $160 million; Further Expands Deployment Opportunities Company Acquires Planes to Expand Aircraft Rental Services Fleet OKLAHOMA CITY , April 14, 2025 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) ("Mammoth" or the "Company") today announced that its subsidiary Lion Power Services LLC ("Lion") has completed a transaction to sell all equity interests in its wholly-owned subsidiaries 5 Star Electric, LLC ("5 Star"), Higher Power Electrical, LLC ("Higher Power") and Python Equipment LLC ("Python"), to Peak Utility Services Group, Inc. ("Peak") for an aggregate sales price of $108.7 million. At the close of the transaction, Lion received cash proceeds totaling $98.3 million with the remaining $10.4 million deposited into an escrow account to fund post-closing adjustments for at least ninety days and indemnified liabilities until at least May 15, 2026.