secwatch.observer — SEC 8-K summary
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Issuer:     Nine Energy Service, Inc. (NINE)
CIK:        0001532286
Form:       8-K
Filed at:   2023-01-18T23:59:59+00:00
Accession:  0001193125-23-009907
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nine Energy amends ABL facility: size cut to $150M, maturity extended, SOFR replaces LIBOR
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- ABL facility size reduced from $200M to $150M; maturity extended to fourth anniversary of effective date (approx. 2027).
- Interest rate benchmark changes from LIBOR to Term SOFR plus 10 bps; pricing range increases to 2.00%-2.50%.
- Amendment contingent on consummation of 300,000 units offering: $1,000 principal senior secured notes + 5 common shares each.
- Goldman Sachs Bank USA exits as lender; JPMorgan remains administrative agent.
- Financial covenant triggers: min availability $12.5M initially, then greater of $17.5M or 12.5% of loan limit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532286/000119312523009907/0001193125-23-009907-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532286/000119312523009907/d448839d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-009907

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