---
schema_version: "secwatch.filing_event.v1"
accession: "0001537028-24-000061"
form_type: "8-K"
ticker: null
cik: "0001537028"
company_name: "Independence Contract Drilling, Inc."
filed_at: "2024-12-05T23:59:59+00:00"
generated_at: "2026-05-29T07:15:04.132510+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Independence Contract Drilling files Ch. 11 bankruptcy, secures $32.5M DIP financing, stock moved to OTC Pink

## Summary
- 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.

## SEC filing metadata
- accession: 0001537028-24-000061
- form_type: 8-K
- cik: 0001537028
- company_name: Independence Contract Drilling, Inc.
- filed_at: 2024-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1537028/000153702824000061/0001537028-24-000061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1537028/000153702824000061/icdi-20241203x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001537028-24-000061
- JSON: https://secwatch.observer/filing/0001537028-24-000061.json
- Plain text: https://secwatch.observer/filing/0001537028-24-000061.txt

## Key facts
- Listing & Compliance Notices
  Independence Contract Drilling, Inc. received a otc delisting notice notice regarding other.
  - Exchange: otc
  - Notice: delisting notice
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1537028/000153702824000061/0001537028-24-000061-index.htm

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