FET - Forum Energy Technologies to convert notes due 2025 into shares

• Forum Energy Technologies ( NYSE: FET ) is set to convert $122.8M, or 47.8%, of the 9.00% convertible senior secured notes due August 2025 into ~4.5M shares on Jan. 3, 2023.
• The settlement date will be Jan. 5, 2023.
• The current conversion satisfies a mandatory conversion requirement under the terms of the notes.
• The conversion will reduce the energy company's annualized interest payments by over $11M.
• The remaining ~$134.2M in aggregate principal of the notes are not subject to any optional or mandatory conversion provisions.
• Source: Press Release

For further details see: