M&A - Civeo Corp

Form Type: 10-K

Filing Date: 2025-02-27

Corporate Action: Acquisition

Type: New

Accession Number: 000159058425000037

Filing Summary: Civeo Corporation's 10-K filing for the fiscal year ending December 31, 2024, provides a comprehensive overview of its business operations, financial condition, and results. The report emphasizes Civeo's ongoing efforts to acquire key assets, notably highlighting the pending acquisition of four villages in Australia’s Bowen Basin. This acquisition is expected to enhance Civeo's operational capacity and align with its strategic objectives. Financially, the document cites a record of significant capital allocation into growth opportunities, alongside a detailed analysis of risk factors impacting the energy industry, including fluctuations in natural resource demand and competition. The filing includes essential disclosures about market conditions, management's discussion points on financial results, as well as tentative plans for future operations and strategic directions. Further, it incorporates updates on shareholder matters, emphasizing shareholder engagement through the upcoming annual meeting. The overall tone identifies confidence in Civeo's positioning in the market, while acknowledging the evolving landscape of the energy sector.

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Form Type: 8-K

Filing Date: 2025-02-21

Corporate Action: Acquisition

Type: New

Accession Number: 000159058425000007

Filing Summary: On February 18, 2025, Civeo Corporation's wholly owned subsidiary, Civeo Pty Ltd, entered into an Asset Sale and Purchase Agreement with the specified seller parties and Graham William Cleary as the Seller Guarantor. The Buyer is set to acquire four villages with a total of 1,340 rooms located in Australia’s Bowen Basin, along with the associated assets and customer contracts. The total consideration for the acquisition is A$105,000,000, which is subject to adjustments as outlined in the Purchase Agreement. The transaction completion is contingent upon several conditions, including customer consent to contract assignments, necessary authorizations, and specific licenses. The agreement includes customary representations and warranties, with indemnifications from the Sellers for any losses due to breaches of these representations. The timeframe for satisfying the closing conditions extends to August 18, 2025, with potential rolling extensions up to six months. A complete description of the agreement will be available in the Company's Annual Report on Form 10-K.

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