Nine Energy Service, Inc. (NINE) SEC Filings

Philosophy Capital Management LLC, its fund Philosophy Capital Partners LP and Jacob Rubin report beneficial ownership of Nine Energy Service, Inc. common stock on an amended Schedule 13G. Philosophy Capital Management and Jacob Rubin each report 2,377,783 shares, representing 17.0% of the outstanding common stock, while Philosophy Capital Partners reports 890,005 shares, or 6.4%.

All shares are held with shared voting and dispositive power and were calculated using 13,949,990 shares outstanding as of May 11, 2026. The filers are party to a voting agreement dated March 5, 2026, under which voting power above a 10% “Voting Cap Threshold” is cast proportionally with other shareholders. The filers state the holdings are not intended to change or influence control, other than activities solely in connection with a nomination referenced in Item 11.

Nine Energy Service, Inc. operates a single Completions Solutions segment providing cementing, completion tools, wireline and coiled tubing services to unconventional oil and gas producers, primarily in the U.S. and Canada. The business remains highly sensitive to drilling and completion activity, commodity prices, inflation and supply-chain conditions.

The company filed Chapter 11 on February 1, 2026 and emerged on March 5, 2026 under a prepackaged plan. Holders of $300.0 million of 13.000% Senior Secured Notes due 2028 received all 13,949,990 new common shares, and all prior equity was canceled. Applying fresh start accounting, Nine recognized a $184.3 million gain on settlement of $350.2 million of liabilities subject to compromise and revalued major asset classes, especially property and equipment and intangibles.

For the three months ended June 30, 2026, revenue was $141.8 million (service $104.7 million, tools $37.1 million) versus $147.3 million a year earlier, with an operating loss of $2.9 million and net loss of $4.9 million, or $0.35 per share. For the Successor period March 6–June 30, 2026, revenue was $183.4 million and net loss was $6.1 million, while the Predecessor period January 1–March 5, 2026 showed $107.9 million of net income driven by reorganization items.

At June 30, 2026, total assets were $317.7 million. Total debt before deferred financing costs was $98.9 million (including $97.3 million drawn on a new $135.0 million Exit ABL Facility and $1.6 million of short-term debt), down from $369.6 million at December 31, 2025. Stockholders’ equity improved from a deficit of $114.96 million to positive $129.6 million. Cash, cash equivalents and restricted cash totaled $18.2 million, and availability under the Exit ABL Facility was about $30.0 million, with the company in compliance with financial covenants.

Nine Energy Service, Inc. reported results for the quarter ended June 30, 2026, with revenue of $141.8 million, a net loss of $4.9 million, or $0.35 per basic and diluted share, gross profit of $12.8 million, adjusted gross profit of $19.9 million, and adjusted EBITDA of $8.6 million. Management noted that second-quarter revenue increased sequentially and was within its prior guidance range, while adjusted EBITDA was below that range.

Profitability was pressured by margin compression and cost inflation, particularly in Coiled Tubing, where two large-diameter units representing about 17% of that fleet were taken out of service for maintenance; one returned early in the third quarter and the other is expected back near year-end, leaving Coiled Tubing constrained. Management described Completion Tools as delivering a strong quarter with increased domestic sales and continued international growth, while Cementing remained steady but faced higher material and labor costs. As of June 30, 2026, cash and cash equivalents were $16.8 million and availability under the revolving credit facility was $30.0 million, resulting in total liquidity of $46.8 million against $97.3 million of borrowings on the facility. Net cash used in operating activities was $2.3 million and capital expenditures were $4.8 million, with full-year 2026 capex guidance reaffirmed at $20 to $30 million. The company indicated third-quarter revenue and profitability are expected to be flat to modestly down versus the second quarter.

Nine Energy Service, Inc. reports that Adage Capital Management and affiliated reporting persons collectively beneficially own 1,355,149 shares of Common Stock, equal to 9.71% of the class. The percentage is calculated using 13,950,000 shares outstanding as of March 5, 2026.

The filing identifies Adage Capital Management, L.P., Robert Atchinson and Phillip Gross as reporting persons and discloses shared voting and dispositive power over the reported shares.

Nine Energy Service, Inc. received a Schedule 13G filing from Algebris Investments (US) Inc. reporting beneficial ownership of 832,907 shares of Common Stock. The filing states that Algebris has sole voting and dispositive power over these shares, representing 5.97% of the class as of 06/30/2026.

The filing is signed by the filer’s Chief Compliance Officer on 07/02/2026.

Law Adam R. reported acquisition or exercise transactions in this Form 4 filing.

Nine Energy Service, Inc. reported that officer Adam R. Law received a grant of 92,222 shares of Common Stock in the form of time-based restricted stock units. These RSUs were awarded at no cash cost to him and will vest in three equal installments starting on the first anniversary of the vesting commencement date, contingent on his continued employment. Following this grant, he holds 92,222 shares directly.

Nine Energy Service, Inc. filed a Form 3 to report the insider status of Adam R. Law. He is identified as an officer of the company, with the officer title referenced as “See Remarks.” The filing shows no reported share purchases, sales, exercises, gifts, tax withholdings, or other transactions, and no derivative positions are listed. This serves as an initial baseline disclosure of his insider role without any current holdings or trades detailed.

Schmidt Heather reported acquisition or exercise transactions in this Form 4 filing.

Nine Energy Service, Inc. reported that officer Heather Schmidt received an equity grant in the form of 33,333 time-based restricted stock units representing common stock at a stated price of $0.00 per share. These units vest in three equal installments beginning on the first anniversary of the vesting commencement date, conditioned on her continued employment through each vesting date. Following this award, she directly holds 72,222 shares of common stock, reflecting her updated equity position with the company.

Nine Energy Service appointed Heather Schmidt as its permanent Chief Financial Officer and principal financial officer, effective May 22, 2026, after serving in the role on an interim basis. She has been with the company since 2012 in senior strategic and investor relations roles.

Her amended and restated employment agreement sets a base salary of $425,000 and a target annual bonus equal to 75% of base salary. She also received long-term incentives: time-based RSUs with a target value of $300,000 vesting over three years, and a performance-based cash award with a $300,000 target tied to relative total shareholder return over three annual periods, with a maximum payout of 200% of target. The agreement includes severance and enhanced benefits for certain terminations, including higher severance if a qualifying termination occurs within 24 months after a change in control.