KLX Energy Services Announces Completion of Subscription Rights Offering
KLX Energy Services completed its subscription rights offering on September 29, 2026, selling 24,975,001 shares at $1.49 for gross proceeds of $37.2 million. Of the proceeds, $31.0 million goes to general corporate purposes and $6.2 million redeems 2030 Notes; the concurrent Backstop Exchange cuts 2030 Notes principal by $94.0 million, with 59,273,445 shares issued to backstopping noteholders.
Key figures
- Deal Value Usd
- 37200000
- Offering Price
- 1.49
- Shares Offered
- 24975001
- Gross proceeds
- $37.2 million
- Notes reduction
- $94.0 million
- Backstop commitment
- $94.0 million (reduced to $87.8 million)
- General corporate use
- $31.0 million
- Backstop shares issued
- 59273445
- Pro forma shares outstanding
- 105677168
- Debt redemption from proceeds
- $6.2 million
AI analysis
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