secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001401257-24-000082
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000082/0001401257-24-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000082/fet-20240327.htm
  HTML page:      https://secwatch.observer/filing/0001401257-24-000082

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