secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2023-08-18T23:59:59+00:00
Accession:  0000950170-23-043505
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Patterson-UTI supplements proxy with DCF ranges; merger lawsuit filed
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- Patterson-UTI voluntarily supplements proxy to address stockholder lawsuit alleging disclosure deficiencies in merger voting materials.
- Goldman Sachs DCF analysis: Patterson-UTI standalone PV $16.90-$28.77/share; NexTier $12.42-$20.91/share; combined $18.14-$30.80/share.
- Net debt used: Patterson-UTI ~$670M, NexTier ~$204M, pro forma combined ~$874M; share counts of 213.4M, 236.3M, 391M respectively.
- Special shareholder meetings remain scheduled for August 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000095017023043505/0000950170-23-043505-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000095017023043505/pten-20230818.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-043505

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