Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 4, 2005
Event Date: May 1, 2005 (Effective Date)
The filing discloses a material acquisition event under Regulation FD and Item 8.01 (Other Events). The Company, through wholly-owned subsidiaries, entered into agreements to acquire Stinger Wellhead Protection, Incorporated, its affiliate Stinger Service and Supply, Ltd., and related intellectual property.
Key Financial Metrics
This filing is an event report and does not contain standard financial statements (revenue, profit, cash flow, margins, or debt levels) for the reporting period.
- Total Consideration for Stock and IP: $83.1 million
- Additional Consideration (International Operations LOI): Approximately $6.9 million
- Liquidity/Debt Impact: Not specified in this filing text.
Material Changes
The primary material change is the expansion of the Company's operations through the acquisition of Stinger assets. The transaction involves the purchase of all stock of Stinger entities and specific intellectual property, effective May 1, 2005.
Outlook, Management Commentary, and Risks
Future Transactions: The Company entered into an exclusive letter of intent to purchase international operations related to Stinger for approximately $6.9 million. These transactions are expected to close on or about June 1, 2005.
Management Commentary: The filing references a press release (Exhibit 99.1) for additional details but does not provide specific management commentary or risk factors within the text of this 8-K.
Investor Verification Checklist
- Verify the final closing status of the international operations transaction expected by June 1, 2005.
- Review the attached press release (Exhibit 99.1) for strategic rationale and integration plans.
- Confirm the funding source for the $83.1 million acquisition and its impact on the Company's balance sheet in subsequent filings.
- Monitor for any regulatory approvals required for the international operations purchase.