1 unchanged sentence
Market Information
−Removed: Our Class A Common Stock is listed on the NYSE under the symbol “RNGR.” There is no public market for our Class B Common Stock.
−Removed: As of February 26, 2020 , there were approximately 35 shareholders and four shareholders of record of our Class A Common Stock and Class B Common Stock, respectively, which does not include shareholders whose shares are held in “street name,” where such shares are held by a broker or other nominee.
−Removed: The actual number of beneficial shareholders is greater than the number of holders of record.
+Added: Our Class A Common Stock is listed on the NYSE under the symbol “RNGR,” and there is no public market for our Class B Common Stock.
+Added: We have a significant number of beneficial shareholders or shareholders whose shares are held in “street name,” where such shares are held by a broker or other nominee, thereby increasing the number holders of record.
+Added: As of February 24, 2021, there were approximately 40 and four shareholders of record of our Class A Common Stock and Class B Common Stock, respectively.
We have not paid any dividends since our inception to holders of our Class A Common Stock.
2 unchanged sentences
Use of Proceeds from Registered Securities
−Removed: On August 10, 2017, Ranger Services entered into a Master Reorganization Agreement (the “Master Reorganization Agreement”) under which the parties thereto effected a series of restructuring transactions in connection with the Offering.
−Removed: In connection with the Master Reorganization Agreement, an aggregate of $3.0 million (included within other current liabilities on the accompanying consolidated balance sheet as of December 31, 2018) was settled by the Company during the year ended December 31, 2019 .
−Removed: At the Company’s discretion, the liability was settled with the issuance of 206,897 shares of Class A Common Stock to CSL Energy Holdings I, LLC and CSL Energy Holdings II, LLC in a private placement exempt from registration pursuant to Section 4(a)(2) of the Securities Act promulgated thereunder.
−Removed: Refer to “Item 8.
−Removed: Financial Statements and Supplementary Data—Note 1 — Organization and Business Operations” for further details.
+Added: In connection with the Offering, we entered into a master reorganization agreement in 2017 (the “Master Reorganization Agreement”) under which the parties thereto effected a series of restructuring transactions.
+Added: Under the Master Reorganization Agreement, an aggregate $3.0 million liability was settled by the Company and CSL Energy Holdings I, LLC during the year ended December 31, 2019.
+Added: At the Company’s discretion, the liability was settled through the issuance of 206,898 shares of Class A Common Stock.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: In June 2019, the Company announced that its Board of Directors approved a share repurchase program, authorizing the Company to purchase up to 10% of the Company’s currently outstanding Class A Common Stock held by non-affiliates, not to exceed 580,000 shares or $5.0 million in aggregate value.
−Removed: Share repurchases may take place from time to time on the open market or through privately negotiated transactions.
−Removed: The duration of the share repurchase program is 12 months and may be accelerated, suspended or discontinued at any time without notice.
+Added: During the year ended December 31, 2020, the Company repurchased 344,828 shares of the Company’s Class A Common Stock for an aggregate $2.4 million in a privately negotiated transaction with ESCO.
+Added: See “Part II, Item 8.
+Added: Financial Statements and Supplementary Data—Note 12 — Commitments and Contingencies,” for further details.
+Added: In June 2019, the Board of Directors approved a share repurchase program, authorizing the Company to purchase up to 10% of the outstanding Class A Common Stock held by non-affiliates, not to exceed 580,000 shares or $5.0 million in aggregate value.
+Added: Share repurchases may have taken place from time to time on the open market or through privately negotiated transactions.
+Added: The duration of the share repurchase program was 12 months and therefore ended in June 2020.
+Added: During the years ended December 31, 2020 and 2019, the Company repurchased 93,063 shares and 113,937 shares, respectively, of Class A Common Stock for an aggregate $0.7 million for both periods, in the open market.
The following table provides information with respect to Class A Common Stock purchases made by the Company during the three months ended December 31, 2020.
−Removed: Total number of shares repurchased (1)
−Removed: Average price paid per share
−Removed: Total number of shares purchased as part of publicly announced plans or programs (2)
−Removed: Maximum number of shares that may yet be purchased under the plans or programs (3)
−Removed: October 1, 2019 through October 31, 2019
−Removed: November 1, 2019 through November 30, 2019
−Removed: December 1, 2019 through December 31, 2019
+Added: Period Total Number of Shares Repurchased (1)
+Added: Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs
+Added: October — $ — — —
+Added: November 4,846 3.30 — —
+Added: December — — — —
+Added: Total 4,846 $ 3.30 — —
_________________________
−Removed: During the three months ended December 31, 2019 , the Company repurchased an aggregate 66,463 shares of Ranger Energy Services, Inc.
−Removed: Class A Common Stock in open-market transactions.
−Removed: All shares repurchased were pursuant to the repurchase program that was announced on June 27, 2019.
−Removed: As of December 31, 2019 , an aggregate of 113,937 shares were purchased for a total of $0.7 million since the inception of the repurchase plan program announced on June 27, 2019.
−Removed: As of December 31, 2019 , the maximum number of shares that may yet be purchased under the plan is 466,063 based on the closing price of Ranger Energy Services, Inc.
−Removed: Class A Common Stock on the New York Stock Exchange on December 31, 2019.
+Added: (1) Total number of shares repurchased in the fourth quarter of 2020 consists of 4,846 shares withheld by us in satisfaction of withholding taxes due upon the vesting of restricted shares granted to our employees under our Long-Term Incentive Plan.
Stock Performance Graph
−Removed: The graph below presents a comparison of the cumulative total return on our Class A Common Stock, assuming $100 was invested on August 10, 2017, the initial trading day for our common stock for the NYSE Composite Index and a self- determined peer group, which includes Basic Energy Services, Forbes Energy Services, Key Energy Services, KLX Energy Services, Nine Energy Service and Pioneer Energy Services.
+Added: The graph below presents a comparison of the cumulative total return on our Class A Common Stock, assuming $100 was invested on August 10, 2017, the initial trading day for our common stock for the NYSE Composite Index and a self- determined peer group, which includes Basic Energy Services, Key Energy Services, KLX Energy Services and Nine Energy Service.
The graph and related information should not be deemed “soliciting material” or to be “filed” with the SEC, nor should such information be incorporated by reference into any future filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate such information by reference into such a filing.
1 unchanged sentence
Selected Financial Data
−Removed: The selected financial data as of December 31, 2019 and 2018 have been derived from the audited consolidated financial statements included in “Part II, Item 8.
−Removed: Financial Statements and Supplementary Data.” The following data should be read in conjunction with “Part II, Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited consolidated financial statements and the notes thereto included in “Part II, Item 8.
−Removed: Financial Statements and Supplementary Data.”
−Removed: Year Ended December 31,
−Removed: (in millions, except per share and hourly amounts)
−Removed: Statement of operations data
−Removed: Operating revenues
−Removed: Operating income (loss)
−Removed: Net income (loss)
−Removed: Net income (loss) attributable to Ranger Energy Services, Inc.
−Removed: Per share earnings (loss) from continuing operations
−Removed: Balance sheet data (at end of period)
−Removed: Working capital
−Removed: Property and equipment, net
−Removed: Long-term debt, net
−Removed: Total stockholders’ equity
−Removed: Other financial data
−Removed: Net cash provided by operating activities
−Removed: Net cash used in investing activities
−Removed: Net cash (used in) provided by financing activities
−Removed: Capital Expenditures
−Removed: Adjusted EBITDA (1)
−Removed: Average Monthly Hours per rig
−Removed: _________________________
−Removed: For a discussion of the non-GAAP financial measure, Adjusted EBITDA, including a reconciliation to its most directly comparable financial measure calculated and presented in accordance with GAAP, please read “Part II, Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations—Note Regarding Non‑GAAP Financial Measure.”
+Added: Not required.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.