BJ Energy Solutions, LLC Announces Successful Strategic Restructuring

THE WOODLANDS, Texas, Oct. 28, 2024 /CNW/ -- BJ Energy Solutions, LLC ("BJES" or the "Company") is pleased to announce that in a series of recent transactions two significant corporate modifications have been achieved. First, BaiWin Financing LLC ("BaiWin" - a related-party to an existing BJES owner) have agreed to convert the entirety of their term-debt (approximately $170MM) into equity of Company. The decision to convert comes after consideration of BJES' long-term prospects for its TITAN next-generation fracturing technology. In exchange for the conversion, BaiWin and its related affiliates will own approximately 80% of the Company. Second, the resulting change in ownership percentage among existing holders drove the decision to separate BJES from its former parent (Kanaci Technologies, LLC).