other_material
confidence high
sentiment negative
materiality 0.95
Nine Energy files Chapter 11, enters $125M DIP facility; NYSE delists stock
Nine Energy Service, Inc.
- Filed Chapter 11 on Feb 1, 2026; NYSE delisted common stock on Feb 5, 2026 after company chose not to appeal.
- Entered $125M DIP ABL facility on Feb 3, 2026 with White Oak agent and lenders; interim approval by Bankruptcy Court.
- DIP facility may convert to $135M exit ABL facility upon plan effectiveness; prepackaged Plan under Restructuring Support Agreement.
- Prepetition ABL lenders owed ~$66.85M principal and ~$1.66M in letters of credit as of Petition Date.