Team

Team, Inc. engages in the provision of digitally-enabled asset performance assurance and optimization solutions. It operates through the following segments: Inspection and Heat Treating (IHT), Mechanical Services (MS), and Quest Integrity. The Inspection and Heat Treating segment offers conventional and advanced non-destructive testing (NDT) heat treating and thermal services, tank management, and pipeline integrity solutions, as well as associated engineering and condition assessment services. The Mechanical Services segment covers machining, bolting, and vapor barrier weld testing, hot tap and line intervention, valve management solutions, and emission control services. The Quest Integrity segment focuses on integrity and reliability management solutions for the process, pipeline, and power sectors. The company was founded in 1973 and is headquartered in Sugar Land, TX.

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SUGAR LAND, Texas, April 08, 2024 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today announced the appointment of Pamela J. McGinnis to its Board of Directors (the "Board"). The Board's appointment of Ms. McGinnis as a Class II director is effective as of April 3, 2024, and her initial term will expire at the Company's 2024 annual meeting of shareholders, when she will stand for re-election to serve until the Company's 2027 annual meeting of shareholders. In connection with the Board's appointment of Ms. McGinnis, the size of the Board was increased from six to seven directors. The Board has also appointed Ms. McGinnis to serve on the Board's Compensation Committee.

Team, Inc. Appoints Pamela J. McGinnis to Its Board of Directors

SUGAR LAND, Texas, March 15, 2024 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company") today announced that on March 14, 2024, it received notice (the "Notice") from the New York Stock Exchange (“NYSE”) that it is not in compliance with the NYSE continued listing standards set forth in Section 802.01B of the NYSE's Listed Company Manual due to the fact that the Company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its shareholders' equity was less than $50 million.

Team, Inc. Receives Continued Listing Standard Notice From NYSE

SUGAR LAND, Texas, March 07, 2024 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the fourth quarter and full year ended December 31, 2023.

Team, Inc. Reports Fourth Quarter and Full Year 2023 Results

SUGAR LAND, Texas, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the third quarter ended September 30, 2023.

Team, Inc. Reports Third Quarter 2023 Results

SUGAR LAND, Texas, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, announced today that the Board of Directors has named Michael J. Caliel to the newly-created position of Executive Chairman of TEAM. Mr. Caliel has served as Team's non-executive Chairman since March 21, 2022. As Executive Chairman, Mr. Caliel will focus on TEAM's long-term corporate strategy development, including growth opportunities, profit improvement and strategic alternatives to enhance the Company's enterprise value. Mr. Caliel will also support and advise the management team incorporating longer term objectives with the day-to-day management of the business. Keith Tucker will continue to capably serve as TEAM's Chief Executive Officer, leading the execution of the Company's corporate strategies and managing all business operations.

Team, Inc. Names Michael J. Caliel as Executive Chairman

Second Quarter 2023 Revenue Increased $18.0 million or 8.1% Over Second Quarter 2022

Team, Inc. Reports Second Quarter 2023 Results

Simplifies Capital Structure and Extends Maturities SUGAR LAND, Texas, June 20, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today announced the successful closing of a series of previously announced refinancing transactions (the “Transactions”) that raised $87.4 million of new funding (approximately $82 million following deductions for transaction related fees and expenses and original issue discounts) and consisting of the following: A new $57.5 million, 12% senior secured first lien term loan provided by funds managed by Corre Partners Management, LLC (“Corre”) that matures in December 2026, and is comprised of a $37.5 million term loan tranche and a $20 million delayed draw term loan tranche (the “Corre Secured Term Loan”), and A new $27.4 million term loan secured by certain real estate and machinery and equipment of the Company provided by Eclipse Business Capital LLC (the “Eclipse Term Loan”), that matures in August 2025. The Company's existing revolving credit facility was also amended to extend the maturity date to August 2025, and to increase availability under the revolving credit facility by an additional $2.5 million.

Team, Inc. Announces Successful Closing of Refinancing Transactions

SUGAR LAND, Texas, May 30, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today announced that it has received formal notice from the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE's quantitative continued listing standards.

Team, Inc. Regains Compliance With NYSE Continued Listing Standards

Upon Completion, Transactions Will Provide Financial Flexibility and Extend Maturities SUGAR LAND, Texas, May 25, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today announced that it has secured committed financing from two of its largest current stakeholders for a series of transactions that, once completed, are expected to significantly improve its capital structure and extend maturities. TEAM entered into a commitment letter (the “Corre Commitment Letter”) with Corre Management Partners, LLC (“Corre”) for a new $57.5 million, 12% senior secured first lien term loan maturing in December 2026 and comprised of a $37.5 million term loan tranche and a $20 million delayed draw term loan tranche (the “Corre Secured Term Loan”), subject to certain closing conditions.

Team, Inc. Announces Commitment for Refinancing of Capital Structure

First Quarter 2023 Revenue Increased $13.2 million or 7.0% Over First Quarter 2022

Team, Inc. Reports First Quarter 2023 Results

Fourth Quarter 2022 Revenue Increased $8 million or 4.0% Over Fourth Quarter 2021

Team, Inc. Reports Fourth Quarter and Full Year 2022 Results

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SUGAR LAND, Texas, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that, as a result of the previously announced reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”), effective at 5:00 p.m. Eastern Time on December 21, 2022, proportionate adjustments were made to the number of shares of Common Stock issuable upon exercise or conversion of the Company's outstanding warrants, equity awards and convertible securities, as well as the applicable exercise prices. Specifically, as a result of the Reverse Stock Split, pursuant to and in accordance with the indenture governing the Company's 5.00% Convertible Senior Notes due 2023 (the “Notes”), effective immediately after the opening of business on December 22, 2022, the conversion rate of the Notes was reduced from 46.0829 shares of Common Stock per $1,000 principal amount of Notes to 4.6083 shares of Common Stock per $1,000 principal amount of Notes.

Team, Inc. Announces Adjustment to Conversion Rate of 5.00% Convertible Senior Notes

SUGAR LAND, TX, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced a correction of its prior press releases “Team, Inc. Announces One-For-Ten Reverse Stock Split” issued on December 9, 2022, and its later press release “Team, Inc. Completes One-For-Ten Reverse Stock Split” issued on December 21, 2022.   Each press release incorrectly stated that each stockholder that otherwise would receive fractional shares would receive, in lieu of such fractional shares, cash in an amount determined on the basis of the closing price of the Common Stock on the NYSE on December 21, 2022. However, as approved by the Company's stockholders on November 8, 2022 and consistent with the Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company filed with the Delaware Secretary of State on December 21, 2022, each stockholder that otherwise would receive fractional shares will receive, in lieu of such fractional shares, cash in an amount equal to the proceeds attributable to the sale of such fractional interest following the aggregation and sale by Team's transfer agent of all fractional shares otherwise issuable.

Correction to Press Releases Announcing Team, Inc. One-For-Ten Reverse Stock Split and Completion of One-For-Ten Reverse Stock Split

SUGAR LAND, Texas, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that it has completed the previously announced reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”), effective at 5:00 p.m. Eastern Time today (the “Effective Time”). The Common Stock will begin trading on a split-adjusted basis at market open on December 22, 2022. Trading in the Common Stock will continue on the New York Stock Exchange (“NYSE”) under the symbol “TISI,” with a new CUSIP number (878155 308).

Team, Inc. Completes One-for-Ten Reverse Stock Split

SUGAR LAND, Texas, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that the Board of Directors of the Company (the “Board”) has approved a reverse stock split of the outstanding shares of the Company's common stock, par value $0.30 per share (the “Common Stock”), at a ratio of one-for-ten (the “Reverse Stock Split”). The Company's shareholders granted authority to the Board to effect the Reverse Stock Split at the Company's Special Meeting of Shareholders held on November 2, 2022, as adjourned to November 8, 2022. The Reverse Stock Split is scheduled to take effect at approximately 5:00 p.m. Eastern Time on December 21, 2022 (the “Effective Time”).

Team, Inc. Announces One-for-Ten Reverse Stock Split

SUGAR LAND, Texas, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Team, Inc.'s (NYSE: TISI) (“TEAM” or the “Company”) Board of Directors (“Board”) has unanimously appointed Keith Tucker as Chief Executive Officer effective as of November 22. Mr. Tucker had been serving as interim Chief Executive Officer since March 2022.

Keith Tucker Appointed as Chief Executive Officer at Team, Inc.

Consolidated Revenue Increased 10% over 3Q 2021 Completes Strategic Sale of Quest Integrity Business to Baker Hughes

Team, Inc. Reports Third Quarter 2022 Results

SUGAR LAND, Texas, Nov. 04, 2022 (GLOBE NEWSWIRE) -- TEAM, INC. (“TEAM” or the “Company”) (NYSE: TISI) today announced that on November 2, 2022 it received written notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period (the “Notice”).

TEAM, INC. Receives Continued Listing Notice From NYSE

Scheduled to Reconvene November 8, 2022 at 3:00 p.m. Central Time at Company Headquarters to Vote on Proposal One

Team, Inc. Announces Adjournment of Special Meeting of Shareholders

SUGAR LAND, Texas., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, announced today the closing of the previously disclosed sale of its Quest Integrity business to Baker Hughes, an energy technology company that provides solutions to energy and industrial customers worldwide, for approximately $279 million, reflecting certain estimated post-closing adjustments. The net proceeds to the Company (after payment of transaction related expenses and certain other fees) will be approximately $270 million. The Company intends to use approximately $238 million of the proceeds to pay down term debt and to pay certain fees associated with that repayment and related accrued interest, with the remainder reserved for general corporate purposes.

Team, Inc. Completes Sale of Quest Integrity Business

Consolidated revenue increased 5% over 2Q 2021

Team, Inc. Reports Second Quarter 2022 Results

SUGAR LAND, Texas, July 15, 2022 (GLOBE NEWSWIRE) -- TEAM, INC. (“TEAM” or the “Company”) (NYSE: TISI) today announced that on July 13, 2022 it received written notice from the New York Stock Exchange (“NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period (the “Notice”).

Team, Inc. Receives Continued Listing Notice From NYSE

SUGAR LAND, Texas , June 17, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that on June 17, 2022, it received notice (the "Notice") from the New York Stock Exchange (NYSE) that it is no longer in compliance with the NYSE continued listing standards set forth in Section 802.01B of the NYSE's Listed Company Manual due to the fact that the Company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its shareholders' equity was less than $50 million. In accordance with NYSE procedures, the Company intends to notify the NYSE that it plans to submit a plan within 45 days of receipt of the Notice advising the NYSE of definitive action it has taken, or is taking, to bring it into compliance with Section 802.01B within 18 months of receipt of the Notice.

TEAM, INC. RECEIVES CONTINUED LISTING STANDARD NOTICE FROM NYSE

Seasoned financial executive joins to help support TEAM's strategic and financial repositioning SUGAR LAND, Texas , June 13, 2022 /PRNewswire/ -- Team, Inc. (NYSE: TISI) ("TEAM" or the "Company"), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that Nelson M. Haight has been appointed as Executive Vice President – Chief Financial Officer, effective June 13, 2022.

TEAM, INC. NAMES NELSON M. HAIGHT AS CHIEF FINANCIAL OFFICER

News for Team Stock (TISI)