TISI - Team secures $10M equity investment refinances debt facility

Team (TISI -1.1%) stated Friday that it has replaced current $150M asset-based lending facility, with a new $165M facility consisting of $130M revolving credit facility and a $35M delayed draw term loan. This new facility is to mature on February 10, 2025. Also, Corre Partners has completed a $10M private placement equity investment in the company, on the purchase of 11,904,761 shares at $0.84 each. To notes, both lenders Atlantic Park and Corre Partners have also agreed to waive anti-dilution provisions within their existing stock warrant agreements with respect to the equity financing.  Earlier (Feb. 4): TEAM receives NYSE notice for non-compliance

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Team secures $10M equity investment, refinances debt facility