Gulf Island Fabrication Merger Completed; Shares Converted to Cash at $12.00

summarizeSummary

Gulf Island Fabrication Inc. has completed its merger with IES Holdings, Inc., resulting in all common shares being converted into the right to receive $12.00 in cash. This filing marks the final exit for significant shareholders Piton Capital Partners LLC and Robert Averick.

check_boxKey Events

• Merger Completion

  On January 16, 2026, Gulf Island Fabrication Inc. completed its merger with IES Holdings, Inc. All common shares were converted into the right to receive $12.00 per share in cash.

• Shareholder Exit

  Reporting persons Piton Capital Partners LLC and Robert Averick, a former director, no longer beneficially own any shares of Gulf Island Fabrication Inc. following the merger.

• Director Resignation

  Robert Averick has ceased to be a director of Gulf Island Fabrication Inc. as a result of the merger.

auto_awesomeAnalysis

This Schedule 13D/A serves as an 'exit filing' for Piton Capital Partners LLC and Robert Averick, a former director, confirming they no longer beneficially own shares of Gulf Island Fabrication Inc. The filing reports the completion of the merger with IES Holdings, Inc. on January 16, 2026. As a result, Gulf Island Fabrication is now an indirect wholly-owned subsidiary of IES Holdings, and all outstanding common stock was converted into cash at a price of $12.00 per share. This event fundamentally alters the investment landscape for GIFI, as the company is no longer publicly traded, and shareholders have received their cash consideration.