secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K/A
Filed at:   2022-12-22T23:59:59+00:00
Accession:  0000318833-22-000130
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 3.03, 7.01, 9.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Team, Inc. corrects fractional share cash-out method for reverse stock split
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- Prior press releases incorrectly stated fractional cash would use Dec 21 closing price.
- Corrected method: cash from aggregated sale of fractional shares by transfer agent.
- No other changes to the previously announced one-for-ten reverse stock split.
- Reverse stock split effective Dec 21, 2022; shares trade on NYSE as TISI.
- Correction filed Dec 22, 2022 as 8-K/A with press release as Exhibit 99.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883322000130/0000318833-22-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883322000130/tisi-20221209.htm
  HTML page:      https://secwatch.observer/filing/0000318833-22-000130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer