---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-070306"
form_type: "8-K"
ticker: "DTI"
cik: "0001884516"
company_name: "Drilling Tools International Corp"
filed_at: "2024-03-19T23:59:59+00:00"
generated_at: "2026-06-04T13:56:59.425715+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Drilling Tools International closes ~£14.5M acquisition of Deep Casing Tools

## Summary
- Acquired 100% of Deep Casing Tools for ~£14.5M (£250K share purchase, £14.25M debt payoff).
- Closing on March 15, 2024; press release issued March 18, 2024.
- Deep Casing Tools provides patented turbine-powered casing running (TurboCaser), completion running, and other downhole tools.
- Expands DTI's Middle East presence; CEO cites pending acquisition of Superior Drilling Products (SDPI).
- Deep Casing holds long-term contracts in Central America, Middle East, Asia Pacific; commercializing three new technologies.

## SEC filing metadata
- accession: 0001193125-24-070306
- form_type: 8-K
- ticker: DTI
- cik: 0001884516
- company_name: Drilling Tools International Corp
- filed_at: 2024-03-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070306/0001193125-24-070306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070306/d797508d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-070306
- JSON: https://secwatch.observer/filing/0001193125-24-070306.json
- Plain text: https://secwatch.observer/filing/0001193125-24-070306.txt

## Key facts
- M&A Transactions
  Drilling Tools International Corp completed an acquisition for approximately £14,500,000 (closed 2024-03-15).
  - Action: acquisition
  - Consideration: approximately £14,500,000
  - Closing: 2024-03-15
  source text: (100%) of the shares of CTG (the “ Acquisition ”), which wholly owns Deep Casing Tools Limited (“ Deep Casing ”), an energy technology development company, for approximately £14,500,000, of which £250,000 is allocated for the purchase of the CTG shares and £14,250,000 is allocated for the payoff of certain lenders of CTG. The Acquisition was consummated and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070306/0001193125-24-070306-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.