Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q3 2023

Rhea-AI Summary

Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. $5.0M of convertible notes redeemed at par. Rig reactivations in progress. 3% year-over-year Adj EBITDA growth.

Dallas, Texas--(Newsfile Corp. - November 3, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• $5.0M of convertible notes redeemed at par
• Rig reactivations in progress
• 3% year-over-year Adj EBITDA growth

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186305

FAQ

What is the latest update on Independence Contract Drilling, Inc?

Stonegate Capital Partners has updated its coverage on Independence Contract Drilling, Inc.

What is the significant financial development mentioned in the press release?

$5.0M of convertible notes have been redeemed at par.

What operational progress has Independence Contract Drilling, Inc made?

Rig reactivations are currently in progress.

What is the growth rate of the company's Adjusted EBITDA?

The company has achieved a 3% year-over-year growth in Adjusted EBITDA.