FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Files An 8-K Entry into a Material Definitive Agreement

Item1.01

On December12, 2016, Forum Energy Technologies, Inc. (the
Company) entered into Amendment No.2 to the Second Amended and
Restated Credit Agreement among the Company, the lenders party
thereto, Wells Fargo Bank, National Association, as
Administrative Agent (the Administrative Agent), and the
guarantors party thereto (the Amendment), which amends the
Companys existing revolving credit facility (the Credit Facility,
and the Credit Facility, as amended by the Amendment, the Amended
Credit Facility).

The Amendment amends the Credit Facility to, among other things,
(i)reduce the revolving credit line commitments from $200 million
to $140 million, including the existing sublimits for up to $25
million in letters of credit and up to $10 million in swingline
loans, which are unchanged by the Amendment, (ii)restrict the
Company from borrowing funds for non-acquisition purposes if,
after giving effect to such borrowing, domestic cash and cash
equivalents of the Company and its subsidiaries (subject to
certain exceptions) would exceed $25 million and (iii)require
that the Company and the guarantors under the Amended Credit
Facility execute account control agreements with respect to
certain deposit accounts and securities accounts, in each case
establishing the Administrative Agents control with respect to
such accounts. The Amended Credit Facility continues to provide
for an ability to increase commitments by an additional $150
million. Availability under the Amended Credit Facility remains
subject to a borrowing base calculated by reference to accounts
receivable in the United States, United Kingdom and Canada,
inventory in the United States, and cash on hand.

The Amendment also amends the Credit Facilitys senior secured
debt to adjusted EBITDA covenant such that:

Upon the closing of the Amendment, on December12, 2016, the
Company had no borrowings under the Amended Credit Facility and
$17.3 million in outstanding letters of credit under the Amended
Credit Facility, leaving the Company with approximately $104
million available capacity for additional borrowings and letters
of credit under the Amended Credit Facility.

The foregoing summary of the Amendment does not purport to be
complete and is subject to, and qualified in its entirety by, the
full text of such Amendment, a copy of which is filed as Exhibit
10.1.

About FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET)

Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells; pressure pumping equipment, and downstream capital projects. Its engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process.

FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Recent Trading Information

FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) closed its last trading session up +0.57 at 23.55 with 1,637,542 shares trading hands.