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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2021
SUBSEQUENT EVENTS.  
SUBSEQUENT EVENTS

10. SUBSEQUENT EVENTS

On October 25, 2021, the Company announced that it entered into a definitive merger agreement Wilks Brothers, LLC (“Wilks”). Pursuant to the merger agreement, a subsidiary of Wilks commenced a tender offer to acquire all of the Company’s outstanding common

stock for $2.34 per share in cash (the “Offer”) on November 1, 2021. Subject to the closing of the Offer, the merger agreement also contemplates that Wilks will acquire any shares of the Company’s common stock that are not tendered into the Offer at the same price per share through a second-step merger, which will be completed as soon as practicable following the closing of the Offer, subject to the approval of at least 80% of the outstanding shares of the Company’s common stock.