Brief: Forum Energy Technologies Announces Acquisition Of Variperm Energy Services

Forum Energy Technologies

02/11/2023 22:44

Nov 3 (Reuters) - Forum Energy Technologies Inc  FET.N :
    * FORUM ENERGY TECHNOLOGIES ANNOUNCES TRANSFORMATIVE
ACQUISITION
OF VARIPERM ENERGY SERVICES
    * FORUM ENERGY - DEFINITIVE AGREEMENT TO ACQUIRE VARIPERM
ENERGY
SERVICES FOR CONSIDERATION OF $150 MILLION OF CASH AND 2 MILLION
SHARES OF FET'S COMMON STOCK
    * FORUM ENERGY - CASH CONSIDERATION FOR DEAL WILL BE FUNDED
FROM
$90 MILLION CASH ON HAND & BORROWINGS UNDER ABL CREDIT FACILITY,
& $60 MILLION SELLER TERM LOAN

Source text for Eikon:  ID:nBw8xL9CCa 
Further company coverage:  FET.N 

 ((Reuters.Briefs@thomsonreuters.com;))