Bankruptcy Plan Confirmed: Existing Equity to Be Canceled for No Consideration

summarizeSummary

The Bankruptcy Court confirmed Nine Energy Service's Chapter 11 plan today, leading to the cancellation of all existing common stock for no consideration and a complete loss for current shareholders.

check_boxKey Events

• Chapter 11 Plan Confirmed

  The Bankruptcy Court entered an order confirming the prepackaged Chapter 11 plan of reorganization on March 4, 2026, with the Plan Effective Date anticipated for March 5, 2026.

• Existing Common Stock to be Canceled

  The Plan contemplates that all shares of the company's currently existing common stock will be canceled for no consideration, resulting in a complete loss for current equity holders.

• New Equity for Noteholders

  100% of a single class of new common equity interests will be issued to the holders of the 13.000% Senior Secured Notes due 2028.

• Delisted from NYSE

  The company's common stock was delisted from the NYSE on February 2, 2026, and began trading on the Pink Limited Market under the symbol 'NINEQ' on February 3, 2026.

auto_awesomeAnalysis

Nine Energy Service, Inc. has announced that the Bankruptcy Court confirmed its Chapter 11 reorganization plan today, March 4, 2026, with emergence anticipated tomorrow. This is a critical development for the company, as the plan explicitly states that all currently existing common stock will be canceled for no consideration, resulting in a complete loss for current shareholders. New equity interests will be issued to the holders of the 2028 Senior Secured Notes. The company's stock was delisted from the NYSE on February 2, 2026, and now trades on the Pink Limited Market under 'NINEQ'. The 2025 financial results, also reported in this filing, show a worsening net loss and a decrease in Adjusted EBITDA, highlighting the financial distress that led to the bankruptcy.