Forum Energy Technologies Announces Closing of $100 Million Senior Secured Bond Issuance
Forum Energy Technologies, Inc. (FET)
Last forum energy technologies, inc. earnings: 2/12 08:25 pm
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ir.f-e-t.com
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“FET”) announced today that it closed its offering of USD $100.0 million aggregate principal amount of 10.5% senior secured bonds (the “Offering”) on November 8, 2024. The bonds will mature in November 2029 and were issued at par. Net proceeds from the Offering, together with cash on hand, were used to repay all borrowings outstanding under the seller term loan issued in connection with the acquisition of Variperm Energy Services and were also used to redeem in full all outstanding 9.000% Convertible Senior Secured Notes due 2025 (the “2025 Notes”). FET discharged its obligations under the 2025 Notes indenture, and they will be redeemed on December 8, 2024.Neal Lux, President and Chief Executive Officer, remarked, “I am pleased with the team’s hard work to deliver on the strategic plan we outlined earlier this year. The Offering not only fortifies our balance sheet, but also provides flexibility for strategic i
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FET
Earnings
- 5/2/24 - Beat
FET
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form 8-K
- 11/8/24 - Form SC
- FET's page on the SEC website