Select Water Solutions, Inc. (WTTR) Form 8-K — Nov 2, 2026
$WTTRForm 8-KItems 1.02, 2.01, 2.03, 3.02, 7.01, 8.01, 9.01Filed Nov 2, 2026, 4:33 PM ET0001104659-26-121361Original filing
Select Water Solutions (NYSE: WTTR) closed its acquisition of Pilot Water Solutions LLC on November 2, 2026, acquiring the Delaware Basin water midstream company on a debt-free basis for approximately $700 million total consideration.
Key figures
- Debt Amount
- 900000000
- Cash Position
- 0
- Deal Value Usd
- 700000000
- Interest Rate
- 7.625
- Revolver maturity
- fifth anniversary of the Effective Date (Nov 2, 2026)
- Contingent payment
- $15.0 million upon operational milestones
- Cash paid at closing
- $600.0 million (subject to post-closing adjustments)
- New revolver pricing
- SOFR + 2.25%-3.25% or ABR + 1.25%-2.25%
- New revolver capacity
- $500.0 million (plus $250.0 million accordion)
- Interest coverage covenant
- not less than 2.50x
- Restricted payments basket
- $15.0 million per fiscal quarter
- Terminated revolver repaid
- $10.0 million principal
- Equity consideration shares
- 5149331
- Former credit facility size
- $550.0 million sustainability-linked
- Net total leverage covenant
- not more than 4.25x (4.50x acquisition holiday)
- Terminated term loan repaid
- $218.8 million principal
- Net senior secured leverage covenant
- not more than 2.50x
AI analysis
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