KLX Energy Services Announces Preliminary Results of Subscription Rights Offering
KLX Energy Services announced preliminary results of its subscription rights offering, which raised $37.2 million in gross proceeds through the issuance of 24,975,001 shares at $1.49 per share. A Backstop Exchange with holders of the 2030 Notes will add approximately 59.3 million more shares while eliminating $94.0 million of note principal, leaving roughly 105.7 million shares outstanding.
Key figures
- Deal Value Usd
- 37200000
- Offering Price
- 1.49
- Shares Offered
- 24975001
- Gross proceeds usd
- 37200000
- Shares via basic rights
- 24806099
- Backstop exchange shares
- 59300000
- 2030 notes eliminated usd
- 94000000
- Shares via oversubscription
- 168902
- Pro forma shares outstanding
- 105700000
- Proceeds to redeem 2030 notes
- 6200000
- Backstop commitment reduced usd
- 87800000
- Basic subscription rights exercised
- 6385123
- Proceeds for general corporate purposes
- 31000000
AI analysis
Red flags4 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.