Drilling Tools Intl Completes Asset Acquisition
Ticker: DTI · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1884516
| Field | Detail |
|---|---|
| Company | Drilling Tools International Corp (DTI) |
| Form Type | 8-K |
| Filed Date | Mar 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, assets, oil-and-gas
TL;DR
DTI just bought assets from ROC Energy. Big moves in the oil & gas machinery space.
AI Summary
Drilling Tools International Corp. (DTI) announced on March 15, 2024, the completion of its acquisition of certain assets from ROC Energy Acquisition Corp. The filing details the transaction as a completion of acquisition or disposition of assets, with financial statements and exhibits included. DTI, formerly ROC Energy Acquisition Corp., is incorporated in Delaware and based in Houston, Texas.
Why It Matters
This filing signifies a significant operational expansion for Drilling Tools International Corp. through the acquisition of assets, potentially impacting its market position and future revenue streams.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception, which could impact the company's financial performance.
Key Numbers
- 001-41103 — SEC File Number (Identifies the company's filing history with the SEC.)
- 87-2488708 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Drilling Tools International Corp. (company) — Registrant
- ROC Energy Acquisition Corp. (company) — Former company name and seller of assets
- March 15, 2024 (date) — Date of earliest event reported
- 3701 Briarpark Drive Suite 150 Houston, Texas 77042 (location) — Principal executive offices address
FAQ
What specific assets were acquired by Drilling Tools International Corp. from ROC Energy Acquisition Corp.?
The filing indicates the completion of an acquisition or disposition of assets but does not specify the exact nature or list of assets acquired.
What is the effective date of the asset acquisition reported in this 8-K?
The date of the earliest event reported is March 15, 2024.
What was Drilling Tools International Corp. previously known as?
Drilling Tools International Corp. was formerly known as ROC Energy Acquisition Corp., with a name change date of September 23, 2021.
Where are Drilling Tools International Corp.'s principal executive offices located?
The company's principal executive offices are located at 3701 Briarpark Drive, Suite 150, Houston, Texas 77042.
What is the SIC code for Drilling Tools International Corp.?
The Standard Industrial Classification (SIC) code for the company is 3533, which corresponds to OIL & GAS FILED MACHINERY & EQUIPMENT.
Filing Stats: 731 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-03-18 17:53:03
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share DTI The Nasdaq Stock Mark
Filing Documents
- d797508d8k.htm (8-K) — 28KB
- d797508dex21.htm (EX-2.1) — 400KB
- d797508dex991.htm (EX-99.1) — 22KB
- g797508g0318224508106.jpg (GRAPHIC) — 5KB
- 0001193125-24-070306.txt ( ) — 678KB
- dti-20240315.xsd (EX-101.SCH) — 3KB
- dti-20240315_lab.xml (EX-101.LAB) — 18KB
- dti-20240315_pre.xml (EX-101.PRE) — 11KB
- d797508d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 2.1* Share Purchase Agreement, dated March 15, 2024. 99.1 Press Release, dated March 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Exhibits and schedules to this Exhibit have been omitted in accordance with Item 601(b)(2) of Regulation S-K. The registrant agrees to furnish supplementally a copy of all omitted exhibits and schedules to the SEC upon its request.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. DRILLING TOOLS INTERNATIONAL CORPORATION By: /s/ R. Wayne Prejean R. Wayne Prejean Chief Executive Officer Date: March 18, 2024