secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0000318833-24-000012
Event type: regulatory
Sentiment:  negative
Materiality: 0.65
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Team, Inc. receives NYSE delisting notice for failing $50M market cap and equity thresholds
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- Notice received March 14, 2024 for non-compliance with NYSE Rule 802.01B: avg global market cap <$50M and shareholders' equity <$50M over 30 days.
- Company has 45 days to submit a plan to regain compliance within 12 months; NYSE approval required.
- Common stock (TISI) continues trading on NYSE during cure period; no immediate impact on debt agreements.
- Company considering options but cannot assure compliance or continued listing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883324000012/0000318833-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883324000012/tisi-20240314.htm
  HTML page:      https://secwatch.observer/filing/0000318833-24-000012

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