Independence Contract Drilling, Inc.: Nasdaq/NYSE listing notice — Independence Contract Drilling files Ch. 11 bankruptcy, secures $32.5M DIP financing, stock moved to OTC Pink

Independence Contract Drilling, Inc.

Filed voluntary Chapter 11 petition on Dec 2, 2024 in Southern District of Texas.
Bankruptcy court approved up to $32.5M DIP facility from Glendon Capital and MSD Partners on Dec 4, 2024.
DIP loans bear interest at SOFR + 4.00%, mature 90 days post-petition or on earlier trigger events.
Common stock (ICDIQ) delisted from OTCQX; began trading on OTC Pink market on Dec 4, 2024.
Company will operate as debtor-in-possession under court jurisdiction; subsidiary Sidewinder Drilling LLC guarantees facility.

item 1.01 item 2.03 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Independence Contract Drilling, Inc. received a otc delisting notice notice regarding other.

Exchange: otc
Notice: delisting notice

Exact text from the filing

December 3, 2024 based on the Company filing the Chapter 11 Cases. As a result of the delisting, the Company commenced trading on the OTC Pink Market on December 4, 2024. The Company can provide no assurance that its common stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of the common stock on this market, or whether the trading volume of the common stock will be sufficient to provide for an efficient trading market. The transition to OTC Pink Market will not affect the Company’s business operations. Cautionary Statement Regarding Fo

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Source: SEC EDGAR

accession 0001537028-24-000061

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