secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2026-08-10T21:52:35+00:00
Accession:  0001193125-26-342799
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellex acquires 1.6M TISI shares from Corre at $35.50, becomes largest shareholder
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- Stellex acquires all 1,604,326 TISI shares from Corre at $35.50/share; company receives no proceeds.
- Stellex to own ~35% of TISI common stock, plus preferred and warrants issued Sept 2025, becoming largest shareholder.
- Corre irrevocably waived board observation and nomination rights on Aug 6, 2026; retains only Lender Director rights.
- Chairman Michael Caliel calls transaction a strong vote of confidence; Stellex MD Olivia Zhao cites alignment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000119312526342799/0001193125-26-342799-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000119312526342799/d55393d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-342799

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