DTI and SDPI Announce Deadline for Election of Form of Merger Consideration
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Merger Announcement: Drilling Tools International Corporation (DTI) and Superior Drilling Products, Inc. (SDPI) have announced the upcoming merger, with a deadline for SDPI shareholders to elect their preferred form of consideration set for July 29, 2024, and the expected closing date on August 1, 2024.
Shareholder Instructions: SDPI shareholders must submit their election forms to the designated exchange agent by the Election Deadline, and should carefully review the proxy statement and election materials provided to understand their options regarding cash or stock considerations in the merger.
Analyst Views on DTI
About DTI
Drilling Tools International Corp. is a global oilfield services company that manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations. The Company's operating activities are divided into four divisions: Directional Tool Rentals, Premium Tools Division, Wellbore Optimization Tools, and Other Products & Services, including Downhole Inspection Solutions & Downhole Machining Solutions. Its primary products are bottom hole assembly components such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, roller reamers, as well as drill pipe and drill pipe accessories. In addition, the Company provides technology in its wellbore optimization business supplying the patented Drill-N-Ream (trademark) wellbore conditioning tool, and the patented RotoSteer (trademark), rotational steering tool. The Company operates from over 16 service and support centers across North America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
