Business
Wilks Brothers, LLC Announces Proposal for Superior Calfrac Recapitalization Transaction
Wilks Brothers, LLC Announces Proposal for Superior Calfrac Recapitalization Transaction ...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nWilks Brothers, LLC Announces Proposal for Superior Calfrac Recapitalization Transaction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCISCO, Texas, Aug. 4, 2020\n\n\n\nStakeholders are encouraged to review the Term Sheet available at www.afaircalfrac.com CISCO, Texas, Aug. 4, 2020 /CNW/ - Wilks Brothers, LLC (\"Wilks\"), a significant, long-term shareholder and debtholder of Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX: CFW) announces that, further to Calfrac's announced recapitalization transaction (the \"Initial Management Transaction\"), it has submitted a superior alternative recapitalization transaction (the \"Superior Alternative Proposal\") to the board of directors of Calfrac today.\nThe Superior Alternative Proposal will significantly de-lever Calfrac and provide a superior recovery to stakeholders at all levels of Calfrac's capital structure. The Superior Alternative Proposal is fully committed, not subject to any financing or due diligence conditions and capable of being immediate...