Forum Energy Technologies to convert notes due 2025 into shares

Dec. 29, 2022 9:21 AM ETForum Energy Technologies, Inc. (FET)By: Mary Christine Joy, SA News Editor1 Comment

US Savings Bonds. Savings bonds are debt securities issued by the U.S. Department of the Treasury. They are issued in Series EE or Series I.


    • 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

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