---
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"
generated_at: "2026-05-17T06:41:05.298031+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Team Inc. raises $75M via preferred stock and warrants; repays debt and amends credit facilities

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 3.03, 5.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-202462
- JSON: https://secwatch.observer/filing/0001193125-25-202462.json
- Plain text: https://secwatch.observer/filing/0001193125-25-202462.txt

## Key facts
- Equity Issuances
  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.
  - Security: preferred stock
  - Shares: 75,000 shares of Series B Preferred Stock, plus initial warrants for 982,371 and 470,889 shares of common stock
  - Purchaser: InspectionTech Holdings LP (Stellex)
  - Consideration: $75.0 million total consideration
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/318833/000119312525202462/0001193125-25-202462-index.htm

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