Lower-rate credit facility extended to 2031 for Forum Energy (NYSE: FET)

Rhea-AI Filing Summary

Forum Energy Technologies, Inc., a subsidiary of Energy Technologies, Inc., entered into an amendment to its Third Amended and Restated Credit Agreement on February 4, 2026. The amendment will, once conditions are met, extend the credit facility’s maturity from September 8, 2028 to February 4, 2031.

The amendment also lowers the interest rate margin over SOFR on outstanding loans from a range of 2.25%–2.75% to a range of 2.00%–2.50%, now determined by excess availability under the facility. In addition, the U.S. letter of credit sublimit increases from $70 million to $100 million, while the Canadian letter of credit sublimit remains at $10 million.

Insights

Credit & Capital Structure Analyst

Credit facility maturity is extended to 2031 with modestly better pricing.

The amendment to the revolving credit facility pushes the scheduled maturity from September 8, 2028 to February 4, 2031. A longer tenor can support liquidity planning by keeping this source of borrowing available for a substantially longer period, subject to the stated conditions precedent.

The interest margin over SOFR on outstanding loans is reduced from a range of 2.25%–2.75% to 2.00%–2.50%, now tied to excess availability under the agreement. The U.S. letter of credit sublimit increases from $70 million to $100 million, while the Canadian sublimit stays at $10 million, which may provide additional capacity to support trade and project obligations.

This type of amendment is generally administrative rather than transformational, but it refines key terms investors track: maturity profile, pricing grid and committed letter of credit capacity. Future periodic reports covering periods after February 4, 2026 may show how actively this expanded capacity is utilized.

0001401257falseCommon Stock, par value $0.01 per shareFETCHX00014012572026-02-042026-02-040001401257fet:Exch_XNYSMember2026-02-042026-02-040001401257fet:Exch_XCHIMember2026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 4, 2026

FORUM ENERGY TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-35504

61-1488595

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

10344 Sam Houston Park Drive

Suite 300

Houston

TX

77064

(Address of Principal Executive Offices)

(Zip Code)

281 949-2500

Registrant's telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

FET

New York Stock Exchange

NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive Agreement.

On February 4, 2026, Forum Energy Technologies, Inc. (“Forum”) entered into an amendment (the “Credit Agreement Amendment”) to the Third Amended and Restated Credit Agreement, dated as of October 30, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), among Forum, as borrower, the other borrowers party thereto, the guarantors party thereto, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.

Pursuant to the Credit Agreement Amendment, the Credit Agreement will, upon satisfaction of conditions precedent specified therein, be modified to, among other changes, (i) extend the scheduled maturity date from September 8, 2028 to February 4, 2031, (ii) revise the interest rate margin over SOFR applicable to outstanding loans, previously ranging from 2.25% to 2.75% determined based on Forum’s total net leverage ratio, to instead range from 2.00% to 2.50%, determined based on excess availability under the Credit Agreement and (iii) increase the U.S. letter of credit sublimit from $70 million to $100 million. The Canadian letter of credit sublimit remains at $10 million.

The foregoing description of the Credit Agreement Amendment is a summary only and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Exhibit Title or Description
10.1						Amendment No. 7 to Third Amended and Restated Credit Agreement, dated February 4, 2026, by and among Forum Energy Technologies, Inc., Forum Canada ULC, GT Coiled Tubing of Canada ULC, the guarantors party thereto, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

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.

Date: February 5, 2026

FORUM ENERGY TECHNOLOGIES, INC.

/s/ John C. Ivascu

John C. Ivascu

Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary

FAQ

What credit agreement did Forum Energy Technologies (FET) amend in this 8-K?

Forum Energy Technologies amended its Third Amended and Restated Credit Agreement dated October 30, 2017. The amendment, called Amendment No. 7, adjusts the maturity, interest margin over SOFR, and certain letter of credit sublimits with Wells Fargo Bank and other lenders.

How did the amendment change the credit facility maturity for FET?

The amendment extends the scheduled maturity date of Forum’s credit facility from September 8, 2028 to February 4, 2031. This longer tenor keeps the revolving credit availability in place for several additional years, supporting longer-term capital planning and refinancing flexibility for the company.

What new interest rate margins apply to Forum Energy Technologies’ loans?

Under the amendment, the interest rate margin over SOFR on outstanding loans changes from a 2.25%–2.75% range to a 2.00%–2.50% range. The applicable margin is now based on excess availability under the Credit Agreement rather than Forum’s total net leverage ratio.

How were letter of credit limits changed in Forum Energy Technologies’ facility?

The U.S. letter of credit sublimit under the facility increases from $70 million to $100 million, expanding capacity for U.S. standby or commercial letters of credit. The Canadian letter of credit sublimit remains unchanged at $10 million under the amended agreement.

Does the 8-K indicate any off-balance sheet obligations for Forum Energy Technologies?

The filing states that the information about the amended credit facility in Item 1.01 is incorporated into Item 2.03, which addresses direct financial obligations or off-balance sheet arrangements, indicating the amendment relates to such obligations under the existing revolving credit structure.

Who are the key parties to Forum Energy Technologies’ amended credit agreement?

Key parties include Forum Energy Technologies, Inc. as borrower, Forum Canada ULC and GT Coiled Tubing of Canada ULC as additional borrowers, various guarantors, Wells Fargo Bank, National Association as administrative agent, and a syndicate of lenders party to the credit agreement.