Weatherford Completes Private Equity Sales with Strategic Acquisitions

Weatherford International (WFRD) has released an update to notify the public and investors about the unregistered sales of equity securities.

Weatherford International plc has successfully completed the acquisition of ISI Holding Company, LLC and Probe Technologies Holdings, Inc., expanding its portfolio in the energy sector. The deal included the transfer of 844,702 ordinary shares and $6 million in cash, with additional contingent earn-out payments. These transactions were conducted privately under specific exemptions, avoiding a public offering and were only available to a limited number of accredited investors. The agreement promises further remuneration based on performance milestones, payable in cash or shares.

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For a comprehensive understanding of the announcement, you can read the full document here.