{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-202462","form_type":"8-K","ticker":"TISI","cik":"0000318833","company_name":"TEAM INC","filed_at":"2025-09-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.041976+00:00","generated_at":"2026-05-17T06:41:05.298031+00:00","sec_items":["1.01","2.03","3.02","3.03","5.03","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Team Inc. raises $75M via preferred stock and warrants; repays debt and amends credit facilities","bullets":["Issued Series B Preferred and warrants to Stellex for $75M; used $25M to repay ABL, ~$42.9M to repay second lien term loan.","Up to $30M additional delayed draw available through Sept 2027; 30,000 more preferred shares issuable.","ABL credit facility increased from $130M to $150M, maturity extended to Oct 2028; interest rate margin reduced.","First lien and second lien term loan covenants amended; max First Lien Net Leverage Ratio raised to 6.00x through end of 2026.","Stellex gets right to appoint two independent directors; voting agreement with 35% holder Corre supporting transactions."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-202462","json":"https://secwatch.observer/filing/0001193125-25-202462.json","markdown":"https://secwatch.observer/filing/0001193125-25-202462.md","text":"https://secwatch.observer/filing/0001193125-25-202462.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/318833/000119312525202462/0001193125-25-202462-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/318833/000119312525202462/d39655d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T06:41:05.298031+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1f1123c4be4c51e2df8c8869ecfa59fb1eb661ca","claim":"TEAM INC issued 75,000 shares of Series B Preferred Stock, plus initial warrants for 982,371 and 470,889 shares of common stock of preferred stock to InspectionTech Holdings LP (Stellex) for $75.0 million total consideration.","evidence_excerpt":"B Warrants,” and such Tranche B Warrants, the “Initial Tranche B Warrants” and, together with the Initial Tranche A Warrants, the “Initial Warrants”), for total consideration of $75.0 million. The closing of the payment and the issuance of the Initial Preferred Shares and the Initial Warrants (the “Initial Equity Issuance”) occurred simultaneously with the signing of","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/318833/000119312525202462/0001193125-25-202462-index.htm","confidence":0.98,"family_label":"Equity Issuances","details":[{"label":"Security","value":"preferred stock"},{"label":"Shares","value":"75,000 shares of Series B Preferred Stock, plus initial warrants for 982,371 and 470,889 shares of common stock"},{"label":"Purchaser","value":"InspectionTech Holdings LP (Stellex)"},{"label":"Consideration","value":"$75.0 million total consideration"}],"fact_type":"equity_issuance"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}