Amberjack Affiliates Price 5M-Share Secondary at $28.71, Raising $143.6M

summarizeSummary

Amberjack Capital Partners affiliates are selling 5 million Innovex shares at $28.71 each, raising $143.6 million. The sale reduces their stake from 33% to 26%, with a 45-day lock-up on remaining shares.

check_boxKey Events · Ownership and Investor Activity · INVX

• 5M-Share Secondary Priced at $28.71

  Amberjack affiliates are selling 5 million shares at $28.71 per share, a 5.7% discount to the August 5 close of $30.44, generating $143.55 million in proceeds before expenses.

• Stake Reduced from 33% to 26%

  Post-offering, Amberjack's collective ownership falls from approximately 33% to 26%, reducing its board designation rights from three to two nominees.

• 45-Day Lock-Up on Remaining Shares

  Selling stockholders, officers, and directors agreed to a 45-day lock-up, restricting sales of the remaining 17.8 million registered shares until late September 2026.

• Second Major Secondary in Six Months

  This follows a $170.5 million secondary offering by the same holders in February 2026, signaling continued distribution by the pre-merger Innovex Downhole backers.

auto_awesomeAnalysis · INVX · Energy & Transportation

Amberjack Capital Partners affiliates are selling 5 million shares at $28.71 per share, a 5.7% discount to the last sale price of $30.44 on August 5. The $143.6 million offering reduces their collective stake from approximately 33% to 26%, but they retain significant influence with two board designees. The company receives no proceeds. A 45-day lock-up on remaining shares provides some near-term protection against further sales. This is the second major secondary by these holders in six months, following a $170.5 million offering in February 2026.