Hi-Crush Inc (fka HCRSQ)

[Enterprising Investor]

Hi-Crush Announces Completion of Conversion to C-Corporation Structure (5/31/19)

Hi-Crush Partners LP, “Hi-Crush” or the “Partnership”, announced today that it has completed the conversion of its corporate structure from a master limited partnership (MLP) to a C-Corporation, following the previously announced unitholder approval received on May 22, 2019. Concurrent with the conversion, the company will change its name to Hi-Crush Inc. (the “Corporation”). The Corporation’s Common Stock will be listed on the New York Stock Exchange under the symbol “HCR” beginning on June 3, 2019.
After market close on May 31, 2019, outstanding common units which represented limited partner interests in the Partnership (the “Units”) were each exchanged for one share of common stock, par value $0.01 per share, (the “Common Stock”) of Hi-Crush Inc. Unitholders received, in exchange for their Units, 100% of the Common Stock outstanding immediately following the completion of the conversion. After completion of the conversion, there were 101,801,372 Common Shares outstanding.

“We are happy to have completed the conversion process as authorized by our unitholders,” said Robert E. Rasmus, Chairman and Chief Executive Officer of Hi-Crush. “We are excited about the benefits the conversion presents to our business, including an expanded potential investor base, lower cost of capital, and enhanced corporate governance. The conversion represents the beginning of a new and exciting chapter in the history of Hi-Crush, as we continue to expand our offerings to customers, and execute on our logistics-focused strategy.”

About Hi-Crush

Hi-Crush is a fully integrated, strategic provider of proppant and logistics solutions to the North American petroleum industry. We own and operate multiple frac sand mining facilities and in-basin terminals, and provide mine-to-wellsite logistics services that optimize proppant supply to customers in all major oil and gas basins in the United States. Our PropStream® service, offering both container- and silo-based wellsite delivery and storage systems, provides the highest level of flexibility, safety and efficiency in managing the full scope and value of the proppant supply chain. Visit HiCrush.com.