NCS Multistage (NCSM) — Advent International (10% Owner) Sells 1.48M Shares

What Happened

• Advent International, L.P. (reported as a 10% owner) disposed of 1,478,426 shares of NCS Multistage Holdings, Inc. (NCSM) on September 1, 2026. The securities were transferred in connection with the consummation of a merger in which NCSM was merged into a Weatherford International plc subsidiary.
• Consideration reported: $19,666,839.72 in cash plus 357,159 ordinary shares of Weatherford International plc. The Form 4 lists the transaction code as a sale (S) and shows price as N/A because the disposition occurred as part of the merger exchange.

Key Details

• Transaction date: 2026-09-01 (Report filed same day: 2026-09-01).
• Shares disposed: 1,478,426 NCSM shares; price shown as N/A on the form.
• Consideration: $19,666,839.72 cash and 357,159 Weatherford ordinary shares (per footnote).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes of note:
  • F1: Disposal was pursuant to the merger (see consideration above).
  • F2: Reported amounts reflect a 1-for-20 reverse split effective December 1, 2020.
  • F3: Advent entities disclaim beneficial ownership except to the extent of any pecuniary interest; Advent-NCS Acquisition LP and Advent’s investment committee relationships are explained.
• Filing timeliness: filing and report date are the same (no late filing indicated).

Context

• This was an institutional disposition tied to a corporate merger, not an individual insider selling on the open market. For retail investors, merger-related disposals generally reflect deal terms rather than a manager’s view of future prospects.
• Because the transaction was part of a merger consideration package (cash + Weatherford shares), there is no single per-share sale price listed on the Form 4.