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Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events  
Subsequent Events

18. Subsequent Events

NGCS Acquisition

On May 1, 2025, we completed the NGCS Acquisition, whereby we acquired all of the issued and outstanding equity interests in NGCS, including a fleet of approximately 327,000 operating horsepower and a 19,000 horsepower backlog of contracted new equipment, for aggregate total consideration of $352.3 million, consisting of $299.3 million in cash and approximately 2.25 million shares of common stock with an acquisition date fair value of $53.0 million. The cash portion of the purchase price was funded with borrowings under the Credit Facility. The purchase price paid is subject to customary post-closing adjustments in accordance with the terms of the Merger Agreements.

Transaction-related costs

During the three months ended March 31, 2025, we incurred approximately $2.9 million of transaction-related costs in connection with the NGCS Acquisition, primarily professional and other consulting fees.