Atlas Energy Solutions Inc. Announces Offering of Convertible Senior Notes

Atlas Energy Solutions Inc. announced its intention to offer $300 million in Convertible Senior Notes due 2031 through a private placement to qualified institutional buyers. The net proceeds will be used to fund capped call transactions, repay outstanding borrowings under its Master Lease Agreement and Interim Funding Agreement with Stonebriar Commercial Finance LLC, and its 2023 ABL Credit Facility. The remaining proceeds will be used for general corporate purposes, including the purchase of power generation equipment from Caterpillar Inc. The company also reported preliminary first-quarter financial results, indicating a net loss between $40.0 million and $43.3 million. Additionally, Atlas Energy Solutions Inc. expects to enter into the fifth amendment to its 2023 ABL Credit Agreement to permit the notes offering and related capped call transactions. The company had approximately $61 million in outstanding advances under its master equipment lease agreement and $75 million outstanding under its 2023 ABL Credit Facility as of April 2, 2026.