ShareholdingAug 11, 2026, 06:07 AM
TEAM INC: Stellex Capital becomes largest common equity shareholder
AI Summary
TEAM INC announced that Stellex Capital Management LLC has become its largest common equity shareholder after acquiring all 1,604,326 shares previously held by Corre Partners Management, LLC and its affiliates. The transaction, valued at $35.50 per share, was a privately negotiated sale, with TEAM INC not issuing new shares or receiving proceeds. Following the acquisition, Stellex is expected to own approximately 35% of the company's outstanding common stock, in addition to preferred stock and warrants. Concurrently, Corre Partners Management irrevocably waived its board observation and nomination rights.
Key Highlights
- Stellex Capital Management acquired 1,604,326 shares of common stock from Corre Partners Management.
- The shares were purchased at $35.50 per share in a privately negotiated sale.
- Stellex Capital Management is now the largest common equity shareholder, owning approximately 35% of outstanding common stock.
- Corre Partners Management irrevocably waived its board observation and nomination rights.
- Stellex also holds preferred stock and warrants issued in September 2025.
Price Impact
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