Calfrac Shareholders, Unsecured Noteholders Approve Recapitalization

Updated 11 months 1 week ago

Calfrac Well Services announced that shareholders and unsecured noteholders have approved an amended recapitalization transaction with no more than 4% of common shares not held by Wilks Brothers voting against the resolution. Unsecured noteholders approved the restructuring by 99.8% of votes cast. Shareholders will receive a cash election of CAD 0.15 per common share for a total of CAD 910,000. A hearing to seek court approval is scheduled for October 28, 2020, and the company plans to complete the transaction in early November.