UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 98844 / November 1, 2023

ADMINISTRATIVE PROCEEDING

File No. 3-20163

:

In the Matter of

:

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Covia Holdings Corp. and

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Fairmount Santrol Holdings Inc.,

:

now known as Bison Merger Sub I, :

LLC

:

:

Respondents.

:

ORDER DIRECTING

DISBURSEMENT OF FAIR FUND

On November 16, 2021, the Division of Enforcement, pursuant to delegated authority,

published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”),1

pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans

(“Commission’s Rules”);2 and simultaneously posted the Proposed Plan of Distribution (the

“Proposed Plan”). The Notice advised interested persons that they could obtain a copy of the

Proposed Plan from the Commission’s public website or by submitting a written request to Amy

A. Sumner, United States Securities and Exchange Commission, 1961 Stout Street, Suite 1700,

Denver CO 80294. The Notice also advised that all persons desiring to comment on the

Proposed Plan could submit their comments, in writing, within 30 days of the Notice. The

Commission received no comments on the Proposed Plan during the comment period. On

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2

Exchange Act Rel. No. 93579 (Nov. 16, 2021).

17 C.F.R. § 201.1103.

January 13, 2022, the Division of Enforcement, pursuant to delegated authority, issued an order

approving the Proposed Plan,3 and posted the approved Plan of Distribution (the “Plan”).

The Plan provides for the distribution of the Net Available Fair Fund4 to investors who

purchased Securities as of the Relevant Date and suffered a Recognized Loss as calculated by the

methodology used in the Plan of Allocation. In accordance with the Plan, the Claims Bar Date

has passed and all timely submitted claims have been processed by the Fund Administrator. All

investors whose claims have been denied, in whole or in part, have been notified and provided

the opportunity to cure.

Pursuant to the Plan, the Fund Administrator has submitted a Payee List to Commission

staff with a reasonable assurances letter as to the completeness and accuracy of the information

contained therein. The Commission staff has reviewed and accepted the payment file and

requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6),

that the Commission authorize the transfer of $946,208.30 from the Fair Fund to the Fair Fund’s

escrow account at The Huntington National Bank, N.A. for distribution by the Fund

Administrator in accordance with the Plan.

Accordingly, it is hereby ORDERED, that Commission staff shall transfer $946,208.30

from the Fair Fund to the Fair Fund’s escrow account at The Huntington National Bank, N.A. in

accordance with the Payee List, and the Fund Administrator shall distribute such monies in

accordance with the Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.5

Vanessa A. Countryman

Secretary

3

See Order Approving Plan of Distribution, Exchange Act Rel. No. 93981 (Jan. 13, 2022).

All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.

5

17 C.F.R. § 200.30-4(a)(21)(v).

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