Team Inc. enters $21.4M LC facility and exchanges $57M convertible notes for term loans

TEAM INC

Substitute insurance LC facility with 1970 Group up to $21.4M; expected to free ~$17.6M in liquidity.
Exchanged ~$57M of 5.00% convertible senior notes (plus PIK interest) for term loans under Unsecured Term Loan.
Amendment No. 8 increases Unsecured Term Loan total to ~$112.7M; extends $10M delayed draw availability to Dec 31, 2022.
Remaining convertible notes outstanding ~$41.2M, paying 5.00% cash interest.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.