Ranger Energy closes approximately $27.5M STEP deal

Q: How much did RNGR pay for the acquisition?

Ranger’s aggregate consideration was approximately $27.5 million, subject to customary post-closing adjustments. It consisted of $22.5 million in cash and 307,503 shares of Class A Common Stock valued at $5.0 million.

The consideration included $22.5 million in cash funded through borrowings and 307,503 shares valued at $5.0 million.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

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How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

Ranger Energy Services, Inc. completed its acquisition from STEP Energy Services (USA) Ltd., STEP Energy Services (Leasing) LLC, STEP Energy Services Holdings Ltd., and STEP Nitrogen Industrial Services (USA) Ltd. on October 8, 2026. Aggregate consideration was approximately $27.5 million, subject to customary post-closing adjustments.

Ranger acquired certain assets associated with STEP’s U.S. coiled tubing, fluid and nitrogen pumping, and related well services business, including certain coiled tubing units, equipment, other operating assets, and rights under leases. Ranger also assumed certain obligations relating to facility, vehicle, and equipment leases. Consideration consisted of $22.5 million in cash and 307,503 shares of Class A Common Stock. The stock consideration was valued at $5.0 million based on the volume-weighted average trading price over the 30 trading-day period ending on the trading day immediately before closing. The cash portion was funded through borrowings under the Wells Fargo Revolving Credit Facility.

1 point · 0 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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How the balance works How Sentiment works

0 major · 0 points

How the balance works

Positive

Moderate pointCompleted an acquisition for approximately $27.5 million on October 8, 2026. 7.6% of market cap

Negative

None.

Filing Explained

Any required financial statements for the acquired business and pro forma financial information are to be filed by amendment within 71 calendar days after the date this report is required to be filed, unless SEC relief is obtained.

8-K Event Classification

2 items: 2.01, 9.01

2 items

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Aggregate consideration: Approximately $27.5 million Cash consideration: $22.5 million Stock consideration: 307,503 shares +1 more

4 metrics

Aggregate consideration Approximately $27.5 million Acquisition completed October 8, 2026, subject to customary post-closing adjustments

Cash consideration $22.5 million Cash portion of acquisition consideration

Stock consideration 307,503 shares Class A Common Stock included in acquisition consideration

Value of stock consideration $5.0 million Based on the volume-weighted average trading price over the 30 trading-day period ending on the trading day immediately preceding closing

Key Terms

post-closing adjustments, volume-weighted average trading price, Wells Fargo Revolving Credit Facility

3 terms

post-closing adjustments financial

"subject to customary post-closing adjustments"

Amounts added to or subtracted from a transaction’s final purchase price after a deal closes to reflect the buyer’s and seller’s actual financial picture at the handover — for example final cash on hand, outstanding debts, or inventory levels. Think of it like checking the utility bills and meter readings after moving out of a rented house and adjusting the final bill accordingly. Investors care because these adjustments change the real cash exchanged, affect reported earnings and balance sheets, and can alter the expected return or risk of an investment.

volume-weighted average trading price financial

"based on the volume-weighted average trading price"

Volume-weighted average trading price (VWAP) is the average price of a stock over a trading period, where each trade’s price is weighted by how many shares changed hands, so big trades move the average more than small ones. Investors use VWAP as a benchmark to tell whether they bought or sold at a good price compared with the market’s trading activity—like checking if your grocery bill was close to the store’s typical daily average when many customers shopped.

Wells Fargo Revolving Credit Facility financial

"borrowings under the Wells Fargo Revolving Credit Facility"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did RNGR pay for the acquisition?

Ranger’s aggregate consideration was approximately $27.5 million, subject to customary post-closing adjustments. It consisted of $22.5 million in cash and 307,503 shares of Class A Common Stock valued at $5.0 million.

What did RNGR acquire from STEP?

Ranger acquired certain assets associated with STEP’s U.S. coiled tubing, fluid and nitrogen pumping, and related well services business. These included certain coiled tubing units, related equipment, other operating assets, and certain rights under leases associated with the acquired operations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/09/2026 - 06:32 AM Accepted by SEC EDGAR 10/09/2026 - 06:32 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 8, 2026


Ranger Energy Services, Inc.
(Exact Name of Registrant as Specified in Charter)

Delaware	001-38183	81-5449572
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10375 Richmond, Suite 800 Houston, Texas 77042 (Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (713) 935-8900

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, $0.01 par value

RNGR

New York Stock Exchange
NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangexActx☐

Item 2.01 Completion of Acquisition or Disposition of Assets

As previously disclosed in the Current Report on Form 8-K filed by Ranger Energy Services, Inc., (the “Company”) on August 31, 2026, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with STEP Energy Services (USA) Ltd., STEP Energy Services (Leasing) LLC, STEP Energy Services Holdings Ltd., and STEP Nitrogen Industrial Services (USA) Ltd. (collectively, “STEP” or the “Sellers”), pursuant to which the Company agreed to acquire certain assets associated with STEP’s coiled tubing, fluid and nitrogen pumping, and related well services business in the United States (the “Acquisition”). On October 8, 2026, the Company completed the transactions contemplated by the Purchase Agreement.

Pursuant to the Purchase Agreement, the Company acquired certain coiled tubing units and related equipment and other operating assets, and certain rights under leases associated with the acquired operations, among other assets. In connection with the Acquisition, the Company also assumed certain obligations relating to certain facility, vehicle and equipment leases.

The aggregate consideration paid in connection with the Acquisition was approximately $27.5 million, subject to customary post-closing adjustments set forth in the Purchase Agreement. The consideration consisted of $22.5 million in cash and 307,503 shares of the Company’s Class A Common Stock. The stock consideration was valued at $5.0 million based on the volume-weighted average trading price of the Company’s Class A Common Stock over the 30 trading-day period ending on the trading day immediately preceding the closing date. The cash portion of the purchase price was funded through borrowings under the Company’s Wells Fargo Revolving Credit Facility.

The foregoing description of the Purchase Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Purchase Agreement. The Company intends to file the Purchase Agreement as an exhibit to its Quarterly Report on Form 10-Q for the quarterly period ending September 30, 2026.

Item 9.01 Financial Statements and Exhibits

(a) Financial Statements of Business Acquired.

Any financial statements required by this Item 9.01 will be filed by amendment to this Current Report on Form 8-K within 71 calendar days after the date on which this Current Report on the Form 8-K is required to be filed, unless relief to file such financial information is obtained prior thereto from the SEC pursuant to Rule 3-13 of Regulation S-X.

(b) Pro Forma Financial Information.

Any financial information required by this Item 9.01 will be filed by amendment to this Current Report on Form 8-K within 71 calendar days after the date on which this Current Report on the Form 8-K is required to be filed, unless relief to file such financial information is obtained prior thereto from the SEC pursuant to Rule 3-13 of Regulation S-X.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Ranger Energy Services, Inc.


/s/ Melissa Cougle						October 9, 2026
Melissa Cougle						Date
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents