Tetra Technologies Inc 8-K, filed Nov 19, 2021
Tetra Technologies Inc (TTI)
About this 8-K
Tetra Technologies Inc filed this 8-K on November 19, 2021, reporting on events of November 18, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
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Item 7.01. Regulation FD Disclosures.
As of November 18, 2021, TETRA Technologies, Inc. (“TETRA” or the “Company”) has completed the sale of 1,498,000 of its 1,600,000 shares of Standard Lithium Ltd. stock, at an average price of $11.22 per share, generating gross proceeds of approximately $16.8 million, before broker and transaction fees. TETRA completed the sale of the 1,498,000 Standard Lithium Ltd. shares in the open market over a series of 24 trading days. TETRA intends to use the proceeds to reduce the outstanding balance on its term loan and for general corporate purposes.
TETRA’s results in the fourth quarter will include realized gains of approximately $4.6 million, before broker and transaction expenses, from the sale of the 1,498,000 shares through November 18, 2021. In addition, approximately $10.2 million of unrealized mark-to-market gains recorded in previous quarters were realized as a result of this Standard Lithium Ltd. stock sale.
The Company retains ownership of 102,000 shares of Standard Lithium, Ltd.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TETRA Technologies, Inc. | ||
| By: | /s/ Brady M. Murphy | |
| Brady M. Murphy | ||
| President and Chief Executive Officer | ||
Date: November 19, 2021