Reference is made to the notification dated October 30, 2024, wherein Archer announced its agreement to acquire Wellbore Fishing & Rental Tools, LLC (“WFR”). Total consideration for the acquisition was $51.5 million, financed through a private placement of $50 million as announced on October 31, 2024, and cash at hand.
We are pleased to announce that the transaction has now closed, in accordance with previously communicated terms.
