공고 • Aug 01
U.S. Silica Holdings, Inc. Announces Executive Changes U.S. Silica Holdings, Inc. announced on August 1, 2024, the company announced that it had appointed Alan Schultz to serve as the Company’s Executive Vice President, effective August 1, 2024. Mr. Schultz fills the office vacated by Kevin Hough, who has stepped down, effective August 1, 2024, from his role as interim Executive Vice President. Mr. Schultz, age 43, has served as Senior Vice President, Strategy of U.S. Silica since 2016. From 2013 to 2016, he served as Vice President, Enterprise Growth and Portfolio Strategy at TDS, where he led efforts to expand into new business segments. Prior to his tenure at TDS, Mr. Schultz served as a Senior Manager at Bain & Company beginning in 2003, where he led teams to create growth strategies, conduct diligence and improve operations. Mr. Schultz holds a Bachelor of Science in Industrial Engineering and Management Sciences from Northwestern University and an M.B.A. from Harvard University. 공고 • Jul 16
U.S. Silica Holdings, Inc. Provides Unaudited Preliminary Earnings Guidance for the Quarter Ended June 30, 2024 U.S. Silica Holdings, Inc. provided unaudited preliminary earnings guidance for the quarter ended June 30, 2024. for the quarter, the company expects Sales of $317.0 million– $318.0 million. Net income of $18.7 million to $19.7 million. 공고 • Apr 30
U.S. Silica to Be Delisted from the NYSE Upon Deal Completion Funds managed by affiliates of Apollo Global Management, Inc. have agreed to buy industrial minerals company U.S. Silica Holdings, Inc. in an all-cash deal that values the latter at around $1.85 billion. The parties signed a definitive agreement that will result in U.S. Silica stockholders receiving $15.50 per share, marking an 18.7% premium over the closing share price on 25 April 2024. Upon deal completion, U.S. Silica will be delisted from the New York Stock Exchange (NYSE), while retaining its brand and leadership and transition into a privately held entity. 공고 • Apr 28
Apollo Global Management, Inc. (NYSE:APO) entered into a definitive agreement to acquire U.S. Silica Holdings, Inc. (NYSE:SLCA) for $1.3 billion. Apollo Global Management, Inc. (NYSE:APO) entered into a definitive agreement to acquire U.S. Silica Holdings, Inc. (NYSE:SLCA) for $1.3 billion on April 26, 2024. Under the terms of the agreement, U.S. Silica stockholders will receive $15.50 per share in cash for each share of common stock owned as of the closing of the transaction. The definitive agreement includes a 45-day "go-shop" period that will expire at 12:01 AM ET on June 10, 2024, which permits U.S. Silica and its financial advisor to actively initiate, solicit and consider alternative acquisition proposals from third parties. U.S. Silica's Board of Directors will have the right to terminate the agreement to enter into a superior proposal, subject to the terms and conditions of the agreement. Upon completion of the transaction, the Company's common stock will no longer be listed on the New York Stock Exchange, and the Company will become a private company. U.S. Silica will continue operating under the U.S. Silica name and brand and will continue to be led by Bryan Shinn and the current executive team. In case of deal terminations, a fee of $41.75 million will be payable by U.S. Silica to Apollo; provided that a lower fee of $20.875 million will apply with respect to a termination by the U.S. Silica to accept a Superior proposal prior to the No-Shop Period start date. The merger agreement also provides that, in certain circumstances, including the termination of the merger agreement following a failure by Apollo to consummate the merger in breach of the merger agreement, subject to certain conditions, Apollo would be required to pay U.S. Silica, a termination fee of $87.3 million. Apollo has obtained equity financing and debt financing commitments to finance the transactions contemplated by the Merger Agreement and to pay related fees and expenses. The Apollo Funds have committed to provide equity financing of up to $1.150 billion in the aggregate to finance a portion of the consideration due under the Merger Agreement. Certain financial institutions have agreed to provide to Parent committed debt financing of $1.275 billion in the aggregate, a portion of which will be used to finance a portion of the consideration due under the Merger Agreement, subject to the terms and conditions set forth in the debt commitment letter. The transaction, which has been unanimously approved by U.S. Silica's Board of Directors, is expected to close in the third quarter of 2024, subject to customary closing conditions, including approval by U.S. Silica stockholders and receipt of regulatory approvals and the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is not subject to a financing condition.
Piper Sandler & Co. is acting as a financial advisor and provided fairness opinion to Board of U.S. Silica, and Spencer D. Klein and Joseph P. Sulzbach of Morrison & Foerster LLP is serving as U.S. Silica's legal counsel. Andrew J. Nussbaum and Victor Goldfeld of Wachtell, Lipton, Rosen & Katz is serving as legal counsel and BNP Paribas Securities Corp and Barclays are serving as financial advisors to Apollo Funds. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.18 (vs US$0.58 in 1Q 2023) First quarter 2024 results: EPS: US$0.18 (down from US$0.58 in 1Q 2023). Revenue: US$325.9m (down 26% from 1Q 2023). Net income: US$13.7m (down 69% from 1Q 2023). Profit margin: 4.2% (down from 10% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.3%. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. 공고 • Apr 13
U.S. Silica Holdings, Inc. to Report Q1, 2024 Results on Apr 26, 2024 U.S. Silica Holdings, Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 26, 2024 
