Nine Energy Service Secures $125M DIP Financing, NYSE Delisting Confirmed Following Chapter 11 Filing

summarizeSummary

Nine Energy Service, Inc. announced the Bankruptcy Court's interim approval of a $125 million debtor-in-possession (DIP) ABL credit facility and confirmed its common stock will be delisted from the NYSE following its Chapter 11 bankruptcy filing.

check_boxKey Events

• DIP Financing Approved

  The Bankruptcy Court granted interim approval for a $125 million senior secured super-priority asset-based debtor-in-possession (DIP) ABL credit facility on February 3, 2026, providing crucial liquidity for operations during Chapter 11 proceedings.

• NYSE Delisting Confirmed

  The company received notice on February 2, 2026, from NYSE Regulation to commence delisting proceedings, with trading immediately suspended. On February 5, 2026, the NYSE filed Form 25 with the SEC to delist the common stock, formalizing the end of its exchange listing.

• Path to Exit ABL Facility

  The DIP Loan includes terms for conversion to an Exit ABL Facility of up to $135 million upon the Chapter 11 plan's effective date, outlining a financing structure for post-reorganization.

• Restructuring Milestones Set

  Key milestones for the reorganization include the entry of the Final DIP Order and Confirmation Order by March 16, 2026, and the effective date of the Chapter 11 Plan by March 31, 2026, providing a timeline for the restructuring process.

auto_awesomeAnalysis

This 8-K provides critical updates following Nine Energy Service's Chapter 11 bankruptcy filing on February 1, 2026. The interim approval of a $125 million debtor-in-possession (DIP) ABL credit facility is a vital step, providing necessary liquidity for the company to continue operations during its reorganization. However, the confirmation of the NYSE delisting and immediate suspension of trading is a definitive negative for existing equity holders, reinforcing the severe impact of the bankruptcy. The planned conversion to a $135 million Exit ABL Facility and the established milestones for the restructuring process offer a clearer timeline for the company's emergence from bankruptcy, but the super-priority nature of the DIP financing further subordinates existing equity.