Cobra Acquisitions, A Subsidiary Of Mammoth Energy Services, Announced That The Previously Disclosed Settlement Agreement With The Puerto Rico Electric Power Authority Was Approved By The Title III Court, PREPA Required To Pay Cobra $150M Within Ten Business Days
Portfolio Pulse from Benzinga Newsdesk
Cobra Acquisitions, a subsidiary of Mammoth Energy Services, has received court approval for a settlement with the Puerto Rico Electric Power Authority (PREPA). PREPA is required to pay Cobra $150 million within ten business days.
September 19, 2024 | 11:27 am
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Mammoth Energy Services' subsidiary, Cobra Acquisitions, has secured a $150 million settlement from PREPA, approved by the court. This payment is expected within ten business days, potentially boosting Mammoth's financial position.
The court-approved settlement ensures a significant cash inflow of $150 million to Mammoth Energy Services, which is likely to positively impact its financials and stock price in the short term. The certainty of the payment within ten days adds to the positive outlook.
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