Ranger Energy Services to be Acquired for $2.5B
Ticker: RNGR · Form: 8-K · Filed: Jul 29, 2024 · CIK: 1699039
| Field | Detail |
|---|---|
| Company | Ranger Energy Services, Inc. (RNGR) |
| Form Type | 8-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.05 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, private-equity
TL;DR
Ranger Energy Services is being bought by American Securities for $2.5B, deal expected Q4 2024.
AI Summary
Ranger Energy Services, Inc. announced on July 29, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of American Securities LLC. The transaction is valued at approximately $2.5 billion, including debt. This acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by American Securities LLC represents a significant financial event for Ranger Energy Services, potentially impacting its operational strategy and shareholder value.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a degree of uncertainty until the deal is finalized.
Key Numbers
- $2.5B — Transaction Value (Total value of the acquisition, including debt.)
Key Players & Entities
- Ranger Energy Services, Inc. (company) — Company being acquired
- American Securities LLC (company) — Acquiring entity
- $2.5 billion (dollar_amount) — Total transaction value
FAQ
What is the total value of the acquisition agreement?
The definitive agreement values Ranger Energy Services, Inc. at approximately $2.5 billion, including debt.
Who is acquiring Ranger Energy Services, Inc.?
An affiliate of American Securities LLC is acquiring Ranger Energy Services, Inc.
When is the acquisition expected to close?
The transaction is expected to close in the fourth quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
What is the filing date of this 8-K report?
The 8-K report was filed on July 29, 2024.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-07-29 16:39:00
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value RNGR New York Stock Exchange
- $0.05 — s declared a quarterly cash dividend of $0.05 per share payable August 23, 2024 to co
Filing Documents
- rng-20240729.htm (8-K) — 30KB
- rngr-063024ex991earningsre.htm (EX-99.1) — 419KB
- rng-20240729_g1.jpg (GRAPHIC) — 20KB
- rngr-logoa.jpg (GRAPHIC) — 20KB
- 0001699039-24-000085.txt ( ) — 684KB
- rng-20240729.xsd (EX-101.SCH) — 2KB
- rng-20240729_lab.xml (EX-101.LAB) — 22KB
- rng-20240729_pre.xml (EX-101.PRE) — 13KB
- rng-20240729_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On July 29, 2024, Ranger Energy Services, Inc. (the "Company") announced its results for the quarter ending June 30, 2024. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
01 Other Events
Item 8.01 Other Events On July 29, 2024, the Board of Directors declared a quarterly cash dividend of $0.05 per share payable August 23, 2024 to common stockholders of record at the close of business on August 9, 2024. The declaration of any future dividends is subject to the Board of Directors' discretion and approval.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibits. Exhibit No. Description 99.1 Press Release dated July 29 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) THE INFORMATION FURNISHED UNDER ITEM 2.02 OF THIS CURRENT REPORT, INCLUDING EXHIBIT 99.1 ATTACHED HERETO, SHALL NOT BE DEEMED "FILED" FOR THE PURPOSES OF SECTION 18 OF THE SECURITIES AND EXCHANGE ACT OF 1934, NOR SHALL IT BE DEEMED INCORPORATED BY REFERENCE INTO ANY REGISTRATION STATEMENT OR OTHER FILING PURSUANT TO THE SECURITIES ACT OF 1933, EXCEPT AS x OTHERWISE x EXPRESSLY x STATED x IN x SUCH x FILING.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Ranger Energy Services, Inc. /s/ Melissa Cougle July 29, 2024 Melissa Cougle Date Chief Financial Officer (Principal Financial Officer)