---
schema_version: "secwatch.filing_event.v1"
accession: "0001401257-23-000002"
form_type: "8-K"
ticker: "FET"
cik: "0001401257"
company_name: "FORUM ENERGY TECHNOLOGIES, INC."
filed_at: "2023-01-03T23:59:59+00:00"
generated_at: "2026-06-20T20:49:25.843637+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FET converts $122.8M of convertible notes to equity; cuts annual interest by >$11M

## Summary
- $122.8M (47.8%) of 9.00% Convertible Notes due 2025 converting into ~4.5M common shares on Jan 3, 2023.
- Remaining $134.2M of notes not subject to further mandatory conversion provisions.
- Annualized interest payments will decline by over $11M following the conversion.
- Adjusted net debt would have been ~$93M (2.0x TTM Adj. EBITDA) as of Sept 30, 2022, counting conversion and sale-leaseback.
- ABL credit facility availability remains $127M as of same date.

## SEC filing metadata
- accession: 0001401257-23-000002
- form_type: 8-K
- ticker: FET
- cik: 0001401257
- company_name: FORUM ENERGY TECHNOLOGIES, INC.
- filed_at: 2023-01-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1401257/000140125723000002/0001401257-23-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1401257/000140125723000002/fet-20221227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001401257-23-000002
- JSON: https://secwatch.observer/filing/0001401257-23-000002.json
- Plain text: https://secwatch.observer/filing/0001401257-23-000002.txt

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