Ranger Energy Services: completes acquisition of STEP assets for $27,500,000

What happened Ranger Energy Services reported that on Oct 8, 2026 it completed the transactions contemplated by an Asset Purchase Agreement dated Aug 31, 2026 with STEP Energy Services (USA) Ltd., STEP Energy Services (Leasing) LLC, STEP Energy Services Holdings Ltd., and STEP Nitrogen Industrial Services (USA) Ltd. The company acquired certain coiled tubing units, related equipment, and certain rights under leases, and assumed certain obligations relating to facility, vehicle and equipment leases. The aggregate consideration was approximately $27,500,000.

Key details

• Aggregate consideration of $27,500,000, consisting of $22,500,000 in cash and 307,503 shares of Class A common stock valued at $5,000,000 based on the 30 trading-day VWAP ending the trading day before closing.
• Purchase Agreement dated Aug 31, 2026; closing/completion on Oct 8, 2026.
• Cash portion funded through borrowings under the company’s Wells Fargo Revolving Credit Facility.
• The company assumed certain lease-related obligations associated with the acquired operations.

Why it may matter The filing reports Item 2.01: completion of acquisition or disposition of assets, which covers the closing of the asset purchase and the payment and assumption terms described above. The filing does not show why the insider traded or why the company acted.