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Subsequent Events | 12 Months Ended
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Dec. 31, 2016
Subsequent Events [Abstract] |
Subsequent Events | 23. Subsequent Events The Company has evaluated events and transactions subsequent to the consolidated balance sheet date and through March 16, 2017, the date the consolidated financial statements were available to be issued. Based on this evaluation, the Company is not aware of any events or transactions that occurred subsequent to December 31, 2016 through March 16, 2017 that would require recognition or disclosure in the consolidated financial statements. On January 30, 2017, the Company announced its decision, based on its assessment of increased demand for its products, particularly fine mesh sand, to increase the wet and dry plant processing capacity at its Oakdale facility in order to produce up to approximately 4.4 million tons of raw frac sand per year. The Company also decided to expand rail and logistics infrastructure in Wisconsin to support this potential increase in customer demand. On February 1, 2017, the Company entered into an Underwriting Agreement by and among the Company, the Selling Shareholders named therein and Credit Suisse Securities LLC and Goldman, Sachs & Co., as representatives of the several underwriters (the “Underwriters”), providing for the offer and sale and the purchase by the Underwriters, of 5,950,000 shares of the Company’s common stock, $0.001 par value at a price to the public of $17.50 per share ($16.58125 per share, net of the underwriting discount), of which 1,500,000 shares are to be sold by the Company and 4,450,000 shares are to be sold by Selling Shareholders. On February 10, 2017, the underwriters exercised in full their option to purchase additional shares of common stock from the Selling Shareholders. On February 15, 2017, the Selling Shareholders consummated the sale of 892,500 shares of common stock to the underwriters pursuant to the underwriters’ exercise of their over-allotment option at a price of $17.50 per share. We received no proceeds from the sale of common stock to the underwriters by the Selling Shareholders. On March 8, 2017, the Company entered into a multi-year Master Product Purchase Agreement (the “PPA”) with Liberty Oilfield Services, LLC (the “Buyer”). We expect that the Buyer will begin purchasing frac sand under the PPA in May 2017. The PPA is structured as a take-or-pay agreement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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