KLX Energy Services Launches $250 Million Offering of Senior Notes
October 22 2018 - 7:30AM
KLX Energy Services Holdings, Inc. (“KLX Energy Services” or the
“Company”) (NASDAQ: KLXE), announced today its intention to
commence a private offering of $250 million aggregate principal
amount of senior secured notes due 2025 (the “Notes”). The Company
intends to use a portion of the net proceeds from the offering to
fund the cash portion of the previously announced acquisition of
Motley Services, LLC (“Motley”), and to pay fees, costs and
expenses related to the transaction. The balance of the proceeds
will be used for general corporate purposes, including potential
acquisitions.
The Notes have not been and will not be
registered under the Securities Act of 1933, as amended (the
“Securities Act”) or any state securities laws and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state laws. The Notes are being
offered and sold only to persons reasonably believed to be
qualified institutional buyers in the United States pursuant to
Rule 144A under the Securities Act and to certain non-U.S. persons
outside the United States in compliance with Regulation S under the
Securities Act. This press release is for informational purposes
only and does not constitute an offer to sell, or a solicitation of
an offer to buy, nor shall there be any sale of the Notes in any
state or jurisdiction in which such offer, solicitation or sale is
unlawful.
About KLX Energy Services
KLX Energy Services is a leading U.S. onshore
provider of mission critical oilfield services focused on
completion, intervention and production activities for the most
technically demanding wells. KLX Energy Services’ experienced and
technically skilled personnel are supported by a broad portfolio of
specialized tools and equipment, including innovative proprietary
tools developed by the Company’s in-house R&D team. KLX Energy
Services supports its customers on a 24/7 basis from over 35
service facilities located in the major onshore oil and gas
producing regions of the United States.
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements, including
those regarding the timing and consummation of the transactions
described herein, involve risks and uncertainties. The Company’s
actual experience and results may differ materially from the
experience and results anticipated in such statements. Factors that
might cause such a difference include those discussed in the
Company’s filings with the Securities and Exchange Commission
(“SEC”), which include its Registration Statement on Form 10,
Quarterly Report on Form 10-Q and Current Reports on Form 8-K. For
more information, see the sections entitled “Risk Factors” and
“Forward-Looking Statements” contained in the Company’s Form 10 and
in its other filings. The forward-looking statements included in
this news release are made only as of the date of this news release
and, except as required by the federal securities laws and the
rules and regulations of the SEC, the Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACT:Michael PerlmanTreasurer
and Senior Director, Investor RelationsKLX Energy Services
Holdings, Inc.(561) 273-7148
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