TEAM, Inc. (NYSE:TISI) Files An 8-K Other EventsItem 9.01 Other Events.
On July 24, 2017, Team, Inc. (the “Company”) issued a press release announcing its intention to offer $175 million principal amount of convertible senior notes due 2023, (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The notes are to be offered and sold only to qualified institutional buyers to Rule 144A under the Securities Act. Further, the Company expects to grant the initial purchasers of the notes an option to purchase up to an additional $26.25 million principal amount of the notes. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This report does not constitute an offer to sell or a solicitation of an offer to buy the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
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Exhibitnumber |
Description |
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99.1 |
Team, Inc.’s Press Release Issued July 24, 2017. |
TEAM INC ExhibitEX-99.1 2 ex991convertiblepressrelea.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NEWS TEAM,…To view the full exhibit click here
About TEAM, Inc. (NYSE:TISI)
Team, Inc. is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group. The IHT Group offers inspection services and heat treating services. The MS Group offers both on-stream services and turnaround/project related services, such as leak repair services, fugitive emissions control services, hot tapping services, field machining services and technical bolting services, valve repair services, heat exchanger and maintenance services, isolation and test plug services, valve insertion services and project services. The Quest Integrity Group offers integrity management solutions to the energy industry in the form of quantitative inspection and engineering assessment services and products.