TETRA TECHNOLOGIES INC

Signed a Master Services Agreement with Diversified Construction & Design covering roughly $95 million of the remaining Phase 2/3 construction on the Evergreen bromine project near Stamps, Arkansas.

material agreement

Reached a final investment decision on its Arkansas Bromine Project (the 'Evergreen' facility, targeting 75 million lbs/year of elemental bromine by early 2028, ~$220 million of capex remaining), formed a new magnesium-production joint venture with Magrathea Metals, and launched a $100 million equity offering to help fund construction — the Smackover critical-minerals strategy first outlined via the 2023 Saltwerx MOU reaching a major milestone.

production update

Closed a new $190 million term loan (plus up to $75 million in delayed-draw capacity) from Silver Point Finance, refinancing existing term debt and earmarking the delayed-draw portion specifically to fund construction of a new bromine processing facility.

security holder rights change

Signed an MOU with Saltwerx LLC (a Fortune 500 subsidiary) to jointly pursue a roughly 6,138-acre brine production unit in the Smackover Formation, Arkansas, targeting both bromine and lithium production — TETRA's entry into the emerging Smackover lithium-brine district, leveraging its existing bromine expertise.

material agreement

Settled a long-running arbitration with longtime bromine customer LANXESS Corporation, amending their Bromine Requirements Sales Agreement with revised volume terms.

material agreement

the exchange certified TETRA TECHNOLOGIES INC's securities for listing, clearing them to begin trading.

listing compliance notice

Extended its ABL facility's maturity from 2023 to 2025, added a UK borrowing subfacility, and prepaid $8.2 million of term debt ahead of schedule — continued balance-sheet improvement post-CSI Compressco exit.

material agreement

Sold its 23.1% remaining limited-partner stake in CSI Compressco LP plus 100% of the general partner entity (which held the incentive distribution rights) to Spartan Energy for $14 million — TETRA's full exit from the compression-services business it had built and financed for over a decade, refocusing on fluids, chemicals and water management.

asset acquisition disposition

Received notice from the NYSE that its stock's 30-day average closing price had fallen below the $1.00 minimum required for continued listing, as the COVID-19 oil price crash hammered the shares; the company had six months to cure, including a possible reverse split.

listing compliance notice

Replaced its long-running (since 2006) revolving credit facility with a new $100 million asset-based lending facility maturing 2023 at meaningfully better terms — a real graduation out of the distressed, covenant-heavy financing that had defined 2015-2017.

security holder rights change

Closed the Swiftwater Energy Services acquisition, funding the cash portion from available cash and the credit facility, and issued employee inducement shares to Swiftwater staff.

capital raising announcement

The same day it closed Swiftwater, sold subsidiary Maritech's legacy offshore oil, gas and mineral leases to Orinoco Natural Resources and its affiliate Epic Offshore, which assumed substantially all associated liabilities in exchange for a modest $7.5 million note — TETRA shedding decommissioning-liability-heavy legacy E&P assets as it pivoted fully to oilfield services.

material agreement

Agreed to acquire Swiftwater Energy Services, a Permian Basin water management company, for $40 million cash plus 7.77 million shares (~$30 million) and up to $15 million in earnouts — TETRA's entry into produced-water management, diversifying beyond fluids and compression.

capital raising announcement

With the December equity raise providing breathing room, amended its credit facility a fifth time: leverage covenants were relaxed and lender commitments trimmed from $225 million to $200 million as the facility shrank to match a smaller, less-levered balance sheet.

debt financing

Raised roughly $114.9 million gross in a second equity-and-warrant offering (19.4 million shares at $5.15 plus warrants), again earmarked to repay debt — completing the deleveraging push begun that June.

material agreement

CSI Compressco LP raised about $48 million through a private placement of Series A Convertible Preferred Units led by outside investor HBC MLP LLC, with TETRA itself chipping in $10 million — fresh outside capital validating the compression business during the downturn.

material agreement

Amended its own revolving credit facility for the fourth time: the loans now had to be secured (previously unsecured), permitted unsecured debt was cut from $550 million to $100 million, and leverage/coverage covenants were tightened further.

debt financing

Raised roughly $60 million in a public equity offering (11.5 million shares at $5.50) to repay debt under the senior secured notes and revolving credit facility — the first real deleveraging move after more than a year of expensive refinancing.

material agreement

Subsidiary CSI Compressco LP's own credit facility was tightened: lender commitments cut from $400 million to $340 million, leverage covenants tightened, and permitted capital expenditures cut from $150 million to as little as $25 million — the compression-services unit under real strain.

debt financing

Closed the $125 million, 11.00% GSO Tetra Holdings notes, completing the latest round of the company's 2015 refinancing.

debt financing

Agreed to raise $125 million in new debt at a steep 11.00% fixed rate from GSO Tetra Holdings (a Blackstone/GSO credit fund), to clear the revolving credit facility, fund a tender for other outstanding notes, and prepay 5.90% notes due 2016 — expensive, distress-priced financing typical of the 2015 oil downturn.

debt financing

Closed the $50 million Wells Fargo Senior Secured Notes and used the proceeds, with other funds, to repay $90 million of maturing Series 2008-B Senior Notes — this time pledging units of subsidiary CSI Compressco LP as collateral, a sign of tightening credit conditions.

debt financing

Agreed to issue $50 million of Senior Secured Notes to Wells Fargo Energy Capital, at a rate structure escalating from 3.75% to 5.25% through 2017, to refinance maturing Series 2008-B unsecured notes — the start of a multi-year refinancing scramble as oil prices collapsed.

debt financing