Cobra Acquisitions LLC Announces Receipt of $18.4 Million From PREPA
Mammoth Energy Services, Inc. (TUSK)
Last mammoth energy services, inc. earnings: 2/27 04:01 pm
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ir.mammothenergy.com
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Source: PR Newswire
OKLAHOMA CITY, Oct. 21, 2024 /PRNewswire/ -- Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK), today announced the receipt of $18.4 million from the Puerto Rico Electric Power Authority ("PREPA") in accordance with the previously announced Settlement Agreement. Arty Straehla, Chief Executive Officer, commented, "We are pleased to have received the next installment payment under our Settlement Agreement with PREPA and look forward to receiving the final installment of $20 million upon the confirmation of PREPA's plan of adjustment in their bankruptcy proceedings. We maintain a significant cash position on our balance sheet, no debt, and we will take a meticulous and strategic approach when deploying this capital. We intend to pursue accretive, value-enhancing opportunities as we strive to strengthen Mammoth for the future."In relation to the receipt of the $18.4 million from PREPA, Mammoth entered
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TUSK
Sec Filings
- 11/15/24 - Form 4
- 11/13/24 - Form SC
- 11/12/24 - Form 4
- TUSK's page on the SEC website