# KLX Energy Services Holdings, Inc. (KLXE) — capital_raise/rights_offering [pending]
Source: SEC API (secapi.ai) · situation sit_fc79dff0e60c68f1926d · retrieved 2026-08-14T01:25:44.313Z

## Overview
KLX Energy Services Holdings, Inc. is an oil and gas field services company providing specialized services to the energy and transportation sectors.

KLX Energy Services Holdings, Inc. entered into a Rights Offering Backstop Agreement on August 6, 2026 with holders of its Senior Secured Floating Rate Cash/PIK Notes due 2030 to backstop a $125.0 million rights offering. The company will distribute transferable subscription rights to all eligible common stockholders as of August 21, 2026 to purchase shares at $1.49 per share. The backstop parties have committed to purchase up to $94.0 million in unsubscribed shares through an exchange of their 2030 Notes at 100% of principal amount, with accrued interest also exchanged for additional shares at the subscription price. The rights offering is expected to commence on August 24, 2026 and expire on September 23, 2026. Each backstop party's commitment will automatically decrease to ensure no party owns more than 30.0% of the company's outstanding common stock on a pro forma fully diluted basis.

## Terms
- Counterparty: Holders of 2030 Notes (including Cross Ocean Partners Management LP, Whitebox Advisors LLC, and other institutional investors) · Deal value: $125.0M · Consideration: mixed · Stake: 30% · Price/share: $1.49

## Key dates
- Announced 2026-08-10 · Record 2026-08-21 · Expected close 2026-09-23

## Timeline
- 2026-08-10 · 8-K (0001193125-26-342539): 8-K - KLX Energy Services Holdings, Inc. — *KLX Energy Services Holdings, Inc. is an oil and gas field services company providing specialized services to the energy and transportation sectors.* KLX Energy Services Holdings, Inc. entered into a Rights Offering Backstop Agreement on August 6, 2026 with holders of its Senior Secured Floating Rate Cash/PIK Notes due 2030 to backstop a $125.0 million rights offering. The company will distribute transferable subscription rights to all eligible common stockholders as of August 21, 2026 to purchase shares at $1.49 per share. The backstop parties have committed to purchase up to $94.0 million in unsubscribed shares through an exchange of their 2030 Notes at 100% of principal amount, with accrued interest also exchanged for additional shares at the subscription price. The rights offering is expected to commence on August 24, 2026 and expire on September 23, 2026. Each backstop party's commitment will automatically decrease to ensure no party owns more than 30.0% of the company's outstanding common stock on a pro forma fully diluted basis.
  https://www.sec.gov/Archives/edgar/data/1738827/0001193125-26-342539.txt

## Citations
- 0001193125-26-342539 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526342539