Nine Energy Service Restructures Capital Structure, Receives $125 Million in New Financing to Support Future Growth

Nine Energy Service is restructuring its capital structure to strengthen its financial health. The company has filed for Chapter 11 bankruptcy and reached an agreement with debtholders to eliminate $320 million of senior secured notes, reducing annual interest expense by $40 million. Nine will continue operating as usual and has secured $125 million in debtor-in-possession financing to support ongoing operations. The company expects to emerge from the process within 45 days.