M&A - Drilling Tools International Corp

Form Type: 10-K

Filing Date: 2025-03-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025039259

Filing Summary: Drilling Tools International Corporation (DTIC) is a global oilfield services company that has successfully grown its operations and market share over recent years. For the fiscal year ending December 31, 2024, the company reported significant revenue growth from $35 million in 2012 to $154 million in 2024. DTIC has expanded its service and support centers from 3 to 16 locations in North America and has established an international presence with 11 additional centers. Notably, the company completed key acquisitions including Superior Drilling Products and Casing Technologies Group Limited which enable them to strengthen their offerings and market presence. DTIC maintains a large inventory of rental tools essential for various drilling operations, aiming to meet the demands of its expanding customer base primarily consisting of major oilfield service companies. The document outlines various financial details and performance metrics, including growth projections and strategic initiatives to enhance efficiency and competitive edge in the oilfield services market.

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Form Type: 8-K

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525000638

Filing Summary: On January 2, 2025, Drilling Tools International Corporation announced the completion of its acquisition of Titan Tools Services Ltd., a downhole tool rental company based in the United Kingdom. This acquisition was highlighted in a press release attached to the filing, emphasizing the strategic move to enhance its operations in the rental sector of downhole tools. The information provided in the filing clarifies that the details and implications of this acquisition are significant steps for the company's growth and market presence.

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Form Type: S-3

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525000640

Filing Summary: Drilling Tools International Corporation filed a registration statement for the offer of up to 888,041 shares of common stock, par value $0.0001, which were issued to Selling Stockholders in connection with the Company's acquisition of Titan Tools Group Limited, finalized through a Share Purchase Agreement dated October 29, 2024. This registration allows Selling Stockholders to sell these shares in a continuous offering, meaning they may choose to sell them at varying times after the registration statement becomes effective. The company will not receive any proceeds from these sales, as all proceeds will go to the Selling Stockholders. The common stock is listed on the Nasdaq Capital Market under the symbol 'DTI'.

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