---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-070307"
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: "2026-06-04T13:57:38.074042+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# DTI refinances ABL facility to $80M, adds $25M term loan, extends maturity to 2029

## Summary
- ABL facility capacity increased from $60M to $80M; pricing improved to SOFR+2.50%.
- New $25M term loan secured by rental fleet and machinery; pricing SOFR+4.00%.
- Both facilities mature in March 2029; certain negative financial covenants removed.
- CFO David Johnson states refinancing supports growth, international expansion, and M&A initiatives.
- PNC Bank acted as sole lender and administrative agent.

## SEC filing metadata
- accession: 0001193125-24-070307
- 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: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070307/0001193125-24-070307-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070307/d761498d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-070307
- JSON: https://secwatch.observer/filing/0001193125-24-070307.json
- Plain text: https://secwatch.observer/filing/0001193125-24-070307.txt

## Key facts
- Debt Financings
  Drilling Tools International Corp incurred credit facility of revolving line of credit in a principal amount up to $80,000,000 and a single draw term loan in a principal amount of $2 with PNC Bank, National Association maturing March 2029.
  - Instrument: credit facility
  - Principal: revolving line of credit in a principal amount up to $80,000,000 and a single draw term loan in a principal amount of $2
  - Counterparty: PNC Bank, National Association
  - Maturity: March 2029
  - Event: incurrence
  source text: “ Company ”) refinanced its revolving credit facility (the “ Refinancing ”) by entering into a Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement (the “ Credit Facility ”) with certain of the Company’s subsidiaries and PNC Bank, National Association as lender and as agent (“ PNC ”). Pursuant to the terms of the Credit Facility, the Company will be provided a revolving line of credit in a principal amount up to $80,000,000 and a single draw term loan in a principal amount of $25,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070307/0001193125-24-070307-index.htm
- Material Agreements
  Drilling Tools International Corp entered into Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement with PNC Bank, National Association valued at revolving line of credit up to $80,000,000 and term loan of $25,000,000 (effective 2024-03-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: revolving line of credit up to $80,000,000 and term loan of $25,000,000
  - Effective: 2024-03-15
  source text: On March 15, 2024, Drilling Tools International Corporation (the “ Company ”) refinanced its revolving credit facility (the “ Refinancing ”) by entering into a Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement (the “ Credit Facility ”) with certain of the Company’s subsidiaries and PNC Bank, National Association as lender and as agent (“ PNC ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000119312524070307/0001193125-24-070307-index.htm

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