secwatch.observer — SEC 8-K summary
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Issuer:     Nine Energy Service, Inc. (NINE)
CIK:        0001532286
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0001193125-23-021676
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nine Energy closes $300M unit offering of 13% notes, redeems 2023 senior notes
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- Sold 300,000 units at $950 each; $300M principal of 13.000% senior secured notes due 2028 and 1.5M common shares.
- Net proceeds of $279.75M used to redeem all outstanding 8.750% Senior Notes due 2023; $34.3M drawn from ABL facility.
- ABL facility maturity extended from October 2023 to January 2027 via amendment effective January 30, 2023.
- Notes include provision requiring Company to offer to buy 75% of excess cash flow at 100% of principal semi-annually from Nov 2023.
- Units will automatically separate into notes and common stock on Oct 27, 2023; holders may elect separation on/after Mar 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532286/000119312523021676/0001193125-23-021676-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532286/000119312523021676/d449103d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-021676

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