Forum closes Variperm acquisition; pro forma combined net loss $6.1M on $868.9M revenue

FORUM ENERGY TECHNOLOGIES, INC.

Acquisition of Variperm closed Jan 4, 2024; base consideration 2.0M shares + $150.3M cash.
Pro forma combined revenue $868.9M, net loss $6.1M (standalone Forum net loss was $18.9M).
Debt financing: $60M Seller Term Loan (11%-17.5% interest) + $90M drawn from expanded ABL facility.
Variperm contributed $130.1M revenue and $37.5M net income for twelve months ended Sep 30, 2023.
Forum to file S-3 to register 1,946,038 shares for selling stockholders.

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