Nine Energy Service, Inc. 8-K

What Happened
Nine Energy Service, Inc. (NINE) and certain subsidiaries filed voluntary prepackaged Chapter 11 cases on February 1, 2026 in the U.S. Bankruptcy Court for the Southern District of Texas to implement a restructuring under a Restructuring Support Agreement. The company has continued operating as debtors-in-possession and began soliciting votes on a Plan the same day by distributing a Disclosure Statement. The Restructuring Support Agreement was reached with holders of the company’s 13.000% Senior Secured Notes due 2028 and the prepetition ABL lenders.

Key Details

• Petition Date: February 1, 2026; cases captioned In re Nine Energy Service, Inc. et al.; company expects to seek joint administrative treatment.
• Financing: Proposed DIP ABL Facility up to $125 million (agent: White Oak Commercial Finance, LLC) to provide immediate liquidity; expected to convert on the Plan Effective Date into an Exit ABL Facility with up to $135 million in commitments.
• Plan terms (term sheet): on the Plan Effective Date the Senior Secured Notes would be canceled and holders of those notes would receive 100% of a single class of new common equity; the company’s current common stock will be canceled.
• Timeline / milestones: interim DIP approval target within 3 business days of petition; court to consider final DIP, approval of Disclosure Statement and Plan confirmation by March 16, 2026; targeted Plan Effective Date by March 31, 2026; company expects to emerge within ~45 days of filing, subject to court approval.

Why It Matters
This is a balance-sheet restructuring intended to preserve operations while addressing the company’s debt load. The DIP financing provides short‑term liquidity so the business can keep operating during the Chapter 11 process. For investors, the filing is material because the Plan contemplates canceling existing common stock (likely leaving current equity holders with no recovery) and issuing new equity to noteholders; trading in NINE securities is likely to be highly speculative and risky during the cases. Additional documents (Disclosure Statement, press release, cleansing material) were filed and are available via the company’s claims agent site.