secwatch.observer — SEC 8-K summary
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Issuer:     Drilling Tools International Corp (DTI)
CIK:        0001884516
Form:       8-K
Filed at:   2023-06-27T23:59:59+00:00
Accession:  0001193125-23-175331
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 3.02, 4.01, 9.01, 2.03, 3.03, 5.01, 5.02, 5.03, 5.05, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

ROC Energy completes de-SPAC merger with Drilling Tools; $217.6M redeemed, trading as DTI
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- Business combination closed June 20, 2023; ROC renamed to Drilling Tools International Corporation (DTIC).
- 20.5M shares redeemed at $10.53 each ($217.6M total); remaining trust $1.67M released to DTIC.
- PIPE financing: $25.86M from ROC Holdings (2.56M shares at $10.10) plus $4.14M note conversion.
- Post-merger 29.77M DTIC shares outstanding; Nasdaq trading under symbol DTI began June 21.
- Entered $60M revolving credit facility with PNC; used proceeds to repay existing revolver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1884516/000119312523175331/0001193125-23-175331-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1884516/000119312523175331/d498600d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-175331

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