09:08 AM EST, 11/11/2024 (MT Newswires) -- Forum Energy Technologies ( FET ) said Monday it completed a $100 million bond issuance with a 10.5% interest rate, maturing in 2029.

The company said the net proceeds, combined with existing cash, were allocated to settle debt linked to the Variperm Energy Services acquisition and to redeem all outstanding 9% Convertible Senior Secured Notes due 2025, which will be retired by Dec. 8.

Shares of the company were down 3.8% in recent Monday premarket activity.

Price: 15.29, Change: -0.60, Percent Change: -3.78