Liberty Oilfield Services Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Liberty Oilfield Services Inc. on September 14, 2018. The filing reports the entry into a Material Definitive Agreement regarding a share repurchase transaction.
Key Financial Metrics
The filing details a specific cash transaction rather than periodic financial performance metrics such as revenue or profit.
- Transaction Type: Share Repurchase (Stock Purchase and Sale Agreement)
- Shares Repurchased: 2,491,160 shares of Class A common stock
- Total Cash Consideration: $47,236,903
- Counterparties: R/C Energy IV Direct Partnership, L.P., R/C IV Liberty Holdings, L.P., and Riverstone/Carlyle Energy Partners IV, L.P. (collectively, the "Riverstone Sellers")
Material Changes
The Company executed a repurchase of approximately 2.5 million shares from the Riverstone Sellers. This transaction was conducted as part of a share repurchase program announced via press release on September 10, 2018. The filing text does not provide comparative financial data or prior period metrics for this specific transaction.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management outlook, or specific risk factors beyond the standard representations and warranties customary in the Purchase Agreement. The agreement is attached as Exhibit 10.1.
Key Facts for Investor Verification
- Verify the impact of the $47.2 million cash outflow on the Company's current liquidity position.
- Confirm the total number of shares remaining outstanding following the repurchase of 2,491,160 shares.
- Review the full text of the Stock Purchase and Sale Agreement (Exhibit 10.1) for specific covenants or conditions.
- Assess the remaining capacity under the share repurchase program announced on September 10, 2018.