ProFrac

As of March 31, 2026, consolidated principal debt was ~1,085.6 million with 156.2 million due within 12 months and cash of 33.5 million; ABL availability was ~80 million following a March 2026 amendment cutting maximum availability to 275 million and stepping up margins.

Senior notes (2029) and the Alpine term loan accrue at Adjusted SOFR + 7.25 percent (effective ~12 to 13 percent). Interest expense in 2025 was ~138.8 million. The debt stack, floating exposure and rising base rates compress flexibility in a downcycle. Liquidity is adequate short‑term but thin versus volatility.