debt
confidence high
sentiment neutral
materiality 0.75
Nine Energy Service launches $300M unit offering of notes and common stock; conditional redemption of $307.3M 2023 notes
Nine Energy Service, Inc.
- Offering of 300,000 units, each consisting of $1,000 principal senior secured note plus 5 common shares.
- Conditional full redemption of 8.750% Senior Notes due 2023 on Feb 1, 2023, subject to issuance of at least $300M in units.
- Approximately $307.3M aggregate principal of 2023 Senior Notes outstanding as of Dec 31, 2022.
- Proceeds from offering and revolving credit facility will fund redemption and accrued interest.
- Preliminary Q4 2022 financial results mentioned but no specific figures provided in filing.