Drilling Tools International Corp. Mourns the Death of Thomas O. Hicks Sr.

Drilling Tools International Corp. (NASDAQ: DTI) announced that Chairman Thomas O. Hicks Sr. died peacefully on December 6, 2025, at age 79.

Rhea-AI Summary

Drilling Tools International Corp. (NASDAQ: DTI) announced that Chairman Thomas O. Hicks Sr. died peacefully on December 6, 2025, at age 79.

Hicks was a founder-level investor who helped acquire and grow businesses that became DTI, led the 2013 rebrand to Drilling Tools International, and supported the company’s growth to a Nasdaq listing in 2023. The release highlights his roles in other investments, civic projects in Dallas, service on the University of Texas Board of Regents, and public service.

Positive

• Hicks led the rebrand to Drilling Tools International in 2013
• Company completed a Nasdaq listing in 2023 after decade-long growth

Negative

• Chairman Thomas O. Hicks Sr. passed away on December 6, 2025

Argus Dec 9 session

+14.98% close to close Open Argus

Details

News Market Reaction – DTI

On Dec 9, the day this news came out, DTI closed 14.98% above the previous close.

Data tracked by StockTitan Argus for the Dec 9 session.

Key Figures

Age at death: 79 years Gammaloy acquisition year: 1997 Gammaloy sale year: 2007 +5 more

Age at death

79 years

Thomas O. Hicks Sr. age at passing on December 6

Gammaloy acquisition year

1997

Entry into energy business via acquisition of Gammaloy

Gammaloy sale year

2007

Sale of Gammaloy to National Oilwell Varco

Directional Rentals acquisition

2012

Hicks Equity Partners acquired regional rental tool company

DTI rebranding

2013

Company rebranded as Drilling Tools International

NASDAQ listing year

2023

DTI went public on the Nasdaq exchange

North America centers

15 centers

Service and support centers across North America

International centers

11 centers

Service and support centers across EMEA and APAC

Historical Context

5 past events · Latest: Nov 06

5 events

1. Nov 06

   Q3 2025 earnings

   24h Move

   -2.4%

   Reported lower revenue and a net loss versus prior-year profit.

2. Oct 16

   Earnings call notice

   24h Move

   -0.5%

   Announced schedule and access details for Q3 2025 results call.

3. Aug 13

   Q2 2025 earnings

   24h Move

   +9.4%

   Reported solid revenue, strong Eastern Hemisphere growth, and maintained guidance.

4. Jul 24

   Earnings call notice

   24h Move

   -2.6%

   Set timing and access for Q2 2025 earnings release and webcast.

5. Jun 11

   Investor conference

   24h Move

   +2.5%

   Announced participation and webcast access for a small‑cap investor conference.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

private equity, family office, downhole drilling tools, horizontal and directional drilling

4 terms

private equity financial

"Tom was a trailblazer whose visionary leadership... shape the modern private equity landscape."

Private equity involves investing money directly into private companies or buying out public companies to make them private, with the goal of improving their performance and increasing their value over time. For investors, it offers an opportunity to earn returns by helping companies grow or restructure, often requiring a longer-term commitment and a higher level of involvement than typical stock investments.

family office financial

"He was Chairman and Founder of Hicks Holdings LLC, a Dallas–based family office managing a diverse portfolio..."

A family office is a private organization that manages the financial affairs, investments and often day-to-day wealth needs of one wealthy family or a small number of families, acting like a household’s dedicated finance team. It matters to investors because family offices can move large amounts of capital quietly and for the long term—choosing investments, buying firms or funding startups—which can influence market prices, deal availability and how businesses are run.

downhole drilling tools technical

"DTI is a Houston, Texas based leading oilfield services company that manufactures and rents downhole drilling tools..."

Downhole drilling tools are the instruments and devices run inside a borehole to cut rock, steer the drill, measure conditions, and protect the well while drilling. Think of them as the specialized tools a mechanic uses inside an engine or the instruments a surgeon uses inside a body—what happens down there determines how fast, safely and cheaply a well is completed. For investors, these tools influence drilling cost, production speed, downtime risk and ultimately project returns.

horizontal and directional drilling technical

"tools used in horizontal and directional drilling of oil and natural gas wells."

Horizontal and directional drilling are techniques that steer a drill bit away from a straight vertical path to reach underground targets at specific angles and distances; directional drilling is the broad practice of guiding the wellbore, while horizontal drilling extends that guidance to drill nearly sideways through a reservoir. Investors care because these methods let operators access more of a resource from one surface location, boost production, lower costs per well, and reduce surface disturbance—all factors that affect output, expenses and long-term value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, Dec. 9, 2025 /PRNewswire/ -- Drilling Tools International Corp., (NASDAQ: DTI) ("DTI" or the "Company"), today announced Thomas O. Hicks, Chairman of the Board has passed away. Mr. Hicks, a legendary Texas businessman, philanthropist, mentor, and devoted husband and father, died peacefully on December 6, in Dallas surrounded by his family. He was 79.

"We are deeply saddened by the passing of our friend and colleague, Tom Hicks," said Wayne Prejean, President and Chief Executive Officer of DTI. "Tom was a trailblazer whose visionary leadership and innovation have helped shape the modern private equity landscape. His unwavering commitment to growth, community, and excellence stands as an inspiration to both investors and business leaders across the globe."

Thomas O. Hicks Sr. was a highly influential American private equity investor and sports team owner, best known for pioneering the "buy and build" strategy in investment and for his leadership in some of the nation's most successful franchises. He was Chairman and Founder of Hicks Holdings LLC, a Dallas–based family office managing a diverse portfolio of real estate, corporate assets, and investments. Hicks earned a BBA from The University of Texas at Austin and an MBA from the University of Southern California.

In addition to his many successful ventures and business interests, Mr. Hicks and his investment group entered the energy business by acquiring privately owned Gammaloy in 1997 and after a decade of growth and value creation, sold it to National Oilwell Varco in 2007. In 2012, Hicks Equity Partners, LP, acquired a regional and privately held rental tool company Directional Rentals and began a rapid expansion of the business. In 2013, a new management team was organized, and the company was rebranded Drilling Tools International. Over the next decade, the company grew substantially and went public on the Nasdaq exchange in 2023.

He also made extraordinary contributions to the city of Dallas, helping shape the region's cultural, educational, and civic landscape across decades. Hicks played an instrumental role in the development and planning of the American Airlines Center, which opened in 2001, and contributed significantly to the Santiago Calatrava–designed Margaret Hunt Hill Bridge spanning the Trinity River. He also supported education initiatives across North Texas, including the land donation that became Tom Hicks Elementary in the Lewisville Independent School District.

In addition to his business and civic achievements, Hicks remained deeply involved with the University of Texas, where he served on the Board of Regents from 1994 to 1999 and helped establish the University of Texas/Texas A&M Investment Management Company (UTIMCO), one of the largest public university endowment systems in the country — an accomplishment he regarded as one of the most meaningful contributions of his professional life.  Hicks also served his country. He was a paratrooper in the Army Reserves and later served as a presidentially appointed Commissioner of the American Battle Monuments Commission, which oversees U.S. military cemeteries and memorials around the world.

Yet above all his accomplishments, Tom Hicks will be remembered most for his profound love of family.

"He was one-of-a-kind and made an indelible mark on the lives of the many colleagues he inspired and influenced, on family and friends he loved and enjoyed, and on those in the Dallas community who benefited from his philanthropy and advocacy. Tom consistently demonstrated the very highest values in business, integrity, and compassion in all his work. We will miss him and grieve with all those who knew him," concluded Prejean.

For further information and a more complete biography on Tom Hicks, please link to the full family press release here: https://investors.drillingtools.com/static-files/825f2c37-c253-4a2b-8ae7-591ff48316a6

About Drilling Tools International Corp.

DTI is a Houston, Texas based leading oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. With roots dating back to 1984, DTI operates from 15 service and support centers across North America and maintains 11 international service and support centers across the EMEA and APAC regions. To learn more about DTI, please visit: www.drillingtools.com.

Contact:

DTI Investor Relations
Ken Dennard / Rick Black
InvestorRelations@drillingtools.com

View original content:https://www.prnewswire.com/news-releases/drilling-tools-international-corp-mourns-the-death-of-thomas-o-hicks-sr-302635976.html

SOURCE Drilling Tools International Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did Drilling Tools International (DTI) announce the death of Chairman Thomas O. Hicks Sr.?

DTI announced his death on December 9, 2025, stating he died on December 6, 2025.

How old was Tom Hicks when he died and what was his role at DTI?

He was 79 years old and served as Chairman of the Board for DTI.

What involvement did Tom Hicks have in DTI’s corporate history (DTI Nasdaq)?

His investment group acquired Directional Rentals in 2012, rebranded in 2013, and the company went public on Nasdaq in 2023.

Will Drilling Tools International provide more biographical details on Tom Hicks?

Yes. The company linked to a full family press release and biography at its investor site for more information.

Does the announcement list immediate changes to DTI leadership following Tom Hicks’s death?

No. The announcement expresses condolences and summarizes his life but does not specify leadership succession details.