Forum Energy Technologies Enters Material Definitive Agreement

TL;DR

FORUM ENERGY TECHNOLOGIES (FET) signed a material definitive agreement on 10/14/24.

AI Summary

On October 14, 2024, Forum Energy Technologies, Inc. entered into a Material Definitive Agreement. The filing also includes other events and financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located in Houston, Texas.

Why It Matters

This filing indicates a significant new agreement for Forum Energy Technologies, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks and opportunities that may affect the company's financial health and stock performance.

Key Players & Entities

• FORUM ENERGY TECHNOLOGIES, INC. (company) — Registrant
• October 14, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Houston TX (location) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share FET NYSE Indicate by chec
• $100.0 million — ted to underwrite and subscribe for USD $100.0 million aggregate principal amount of 5-year se

Filing Documents

• fet-20241014.htm (8-K) — 29KB
• exhibit101-amendmentandann.htm (EX-10.1) — 1930KB
• image_0a.jpg (GRAPHIC) — 4KB
• image_1a.jpg (GRAPHIC) — 7KB
• 0001401257-24-000128.txt ( ) — 2414KB
• fet-20241014.xsd (EX-101.SCH) — 2KB
• fet-20241014_lab.xml (EX-101.LAB) — 22KB
• fet-20241014_pre.xml (EX-101.PRE) — 13KB
• fet-20241014_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 14, 2024, Forum Energy Technologies, Inc. ("Forum") entered into an amendment (the "Credit Agreement Amendment") to the Third Amended and Restated Credit Agreement, dated as of October 30, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified, the "Credit Agreement"), among Forum, as borrower, the other borrowers party thereto, the guarantors party thereto, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto. Pursuant to the Credit Agreement Amendment, the Credit Agreement will, upon satisfaction of conditions precedent specified therein, be modified to (i) permit the issuance of the Bonds (as defined below), (ii) permit, subject to specified conditions and up to specified amounts, redemption of the Bonds in certain circumstances and (iii) specify the extent to which collateral will be granted to secure Credit Agreement obligations by subsidiaries of Forum organized or domiciled under the laws of the United Kingdom, Germany or any territory or county thereof. The foregoing description of the Credit Agreement Amendment is a summary only and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K.

01 Other Events

Item 8.01 Other Events. On October 14, 2024, Forum entered into a commitment letter (the "Commitment Letter") with ABG Sundal Collier ASA (the "Underwriter"), pursuant to which the Underwriter committed to underwrite and subscribe for USD $100.0 million aggregate principal amount of 5-year senior secured bonds to be issued by Forum (the "Bonds"). Forum intends to use the net proceeds from the issuance of the Bonds, together with cash on hand, to redeem in full all outstanding 9.000% Convertible Senior Secured Notes due 2025 and to repay all borrowings outstanding under the seller term loan issued in connection with the acquisition of Variperm Energy Services. The Commitment Letter contains a customary declaration of completeness, which includes representations, warranties and agreements of Forum, customary conditions to the Underwriter's obligation to subscribe and pay for the Bonds, obligations of the parties and termination provisions.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Title or Description 10.1 Amendment No. 6 to Third Amended and Restated Credit Agreement, dated October 14, 2024, by and among Forum Energy Technologies, Inc., Forum Canada ULC, GT Coiled Tubing of Canada ULC, the guarantors party thereto, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

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 hereunto duly authorized. Date: October 18, 2024 FORUM ENERGY TECHNOLOGIES, INC. /s/ John C. Ivascu John C. Ivascu Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR