- Team, Inc. successfully closed a private placement of preferred stock and warrants with affiliates of Stellex Capital Management LLC, generating **$75 million** in proceeds.  **[318833_1898f3a0302d49959600a7e1b622107c_0]** 
- The transaction immediately reduced the company's debt by approximately **$67 million**  **[318833_1898f3a0302d49959600a7e1b622107c_0]**  and materially strengthens its balance sheet.  **[318833_1898f3a0302d49959600a7e1b622107c_1]** 
- Team, Inc. also amended its existing ABL Credit Facility, increasing the commitment amount by **$20 million** and extending its maturity to **October 2028**, and amended its First Lien Term Loan Facility, both reducing applicable margins.  **[318833_1898f3a0302d49959600a7e1b622107c_0]** **[318833_1898f3a0302d49959600a7e1b622107c_2]** 
- The agreement includes a delayed draw option, allowing Team, Inc. to issue up to an additional **$30 million** in preferred stock and warrants over the next 24 months.  **[318833_1898f3a0302d49959600a7e1b622107c_0]** **[318833_1898f3a0302d49959600a7e1b622107c_2]**

TEAM (TISI)