secwatch.observer — SEC 8-K summary
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Issuer:     Independence Contract Drilling, Inc. (—)
CIK:        0001537028
Form:       8-K
Filed at:   2025-01-15T23:59:59+00:00
Accession:  0001537028-25-000003
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bankruptcy plan confirmed; common stock cancelled with no distribution to holders
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- Court confirmed Chapter 11 plan on Jan. 9, 2025; effective date targeted for Jan. 17, 2025.
- All 15.1M existing common shares cancelled, extinguished; holders receive no compensation.
- Noteholders get 100% of reorganized common stock (~1M shares) plus $7.5M exit term loans.
- Company will file Form 15 to terminate SEC registration and stop periodic reporting on effective date.
- DIP facility from Noteholders supports operations; Exit ABL and Term Loan facilities to be entered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1537028/000153702825000003/0001537028-25-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1537028/000153702825000003/icdi-20250109x8k.htm
  HTML page:      https://secwatch.observer/filing/0001537028-25-000003

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