secwatch.observer — SEC 8-K summary
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Issuer:     Innovex International, Inc. (INVX)
CIK:        0001042893
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001193125-24-070265
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dril-Quip to merge with Innovex in all-stock deal; Dril-Quip holders own ~52%
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- Dril-Quip (DRQ) and Innovex sign definitive merger agreement; all-stock transaction.
- Combined company renamed Innovex International; Dril-Quip holders own ~52%, Innovex ~48%.
- Pro forma 2023 revenue >$1.0B, adjusted EBITDA $221M including ~$30M annual cost synergies.
- Pro forma year-end 2023 net cash of $99M; transaction expected to close by Dec 18, 2024.
- Post-closing: Adam Anderson becomes CEO, Kendal Reed CFO; board to have 9 members.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042893/000119312524070265/0001193125-24-070265-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042893/000119312524070265/d803484d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-070265

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