secwatch.observer — SEC 8-K summary
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Issuer:     Drilling Tools International Corp (DTI)
CIK:        0001884516
Form:       8-K
Filed at:   2026-10-08T10:17:20+00:00
Accession:  0001193125-26-417370
Event type: m_and_a
Sentiment:  positive
Materiality: 0.78
Item codes: 1.01, 8.01, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

DTI to acquire Saltire Energy for ~$80M cash plus 17.4M shares; deal expected to close in Q1 2027
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- Consideration: £60,289,856.60 cash (~$81M at $1.343/£) plus 17,355,139 DTI shares; Sellers expected to own ~30% of outstanding stock after closing.
- Saltire run-rate 2026 revenue ~$50.4M, Adjusted EBITDA ~$22.5M (45% margin) and Adjusted Free Cash Flow of $15.8M; deal expected accretive to EBITDA margin and FCF/share in year one.
- Eastern Hemisphere rises from ~18% of DTI standalone Q2 2026 revenue to ~40% pro forma; Aberdeen-based Saltire has bases in the UK, Norway, UAE, Singapore and Malaysia.
- Sellers locked up 24 months with tranches released at 12, 18 and 24 months; they may designate a board member or non-voting observer. Outside Date March 31, 2027; financing deadline Nov 30, 2026.
- DTI will file an S-4 proxy/prospectus within 45 days and seek DGCL Section 204/205 ratification of its 2024-2026 annual director elections, since its charter contemplated a classified board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1884516/000119312526417370/0001193125-26-417370-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1884516/000119312526417370/d168409d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-417370

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