Tender Offer - W&T OFFSHORE INC

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Form Type: 8-K

Filing Date: 2025-01-29

Corporate Action: Tender-offer

Type: New

Accession Number: 000110465925006983

Filing Summary: On January 29, 2025, W&T Offshore, Inc. issued a press release regarding the closing of a previously announced offering of $350 million in aggregate principal amount of 10.750% senior second lien notes due 2029. This offering was conducted in a private offering exempt from registration under the Securities Act of 1933. Additionally, the press release included initial results from a tender offer and consent solicitation related to all outstanding 11.750% senior second lien notes due 2026. The Company emphasized that the notes have not been registered under the Securities Act and any offer or sale would require compliance with applicable laws. The tender offer is being made according to specific documentation provided to the holders of the existing notes. The issuance and the tender offer are significant implications of corporate financing activities, indicating a restructuring of the Company’s debt obligations.

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Additional details:

Regulation Fd Disclosure Date: 2025-01-29

Offering Amount: 350 million

Interest Rate: 10.750%

Notes Due: 2029

Existing Notes Interest Rate: 11.750%

Existing Notes Due: 2026

Form Type: 8-K

Filing Date: 2025-01-13

Corporate Action: Tender-offer

Type: New

Accession Number: 000110465925002962

Filing Summary: On January 13, 2025, W&T Offshore, Inc. announced a cash tender offer for all of its outstanding 11.750% Senior Second Lien Notes due 2026, conditioned upon issuing $350 million in senior second lien notes due 2029. The company is also soliciting consents from the notes' holders to amend the indenture, which includes the removal of restrictive covenants and certain events of default. A redemption notice for any remaining 2026 notes after the tender offer is expected to be issued on January 28, 2025, with a redemption date of August 1, 2025. The redemption price will be 100.000% of the principal amount plus accrued interest. This filing does not constitute a notice of redemption nor an offer to purchase the notes. The report contains forward-looking statements regarding the tender offer and the company's future plans.

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Additional details:

Tender Offer Price: not specified

Consent Solicitation: yes

Notes Due: 2026

Redemption Date: 2025-08-01

New Notes Due: 2029

Amount Of New Notes: 350 million

Redemption Price: 100.000% of principal plus accrued interest

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