[SCHEDULE 13D/A] TEAM INC SEC Filing

Rhea-AI Filing Summary

Corre-linked investors disclosed coordinated holdings and voting support in TEAM INC. The filing shows several Corre funds and advisors collectively beneficially own 1,587,296 shares, representing 35.282% of common stock. On September 11, 2025, TEAM entered into a Purchase Agreement with an affiliate of Stellex and the Corre Holders entered a Support Agreement agreeing to vote for issuance of 65,491 Tranche A Warrants and 31,393 Tranche B Warrants (the "Additional Warrants") and to refrain from transfers subject to limited exceptions. The Support Agreement contains defined termination events including completion of the shareholder vote, expiration of warrant commitments, certain uncured breaches and September 30, 2026. The filing attaches the Support Agreement as Exhibit 99.1.

Insights

Financial Analyst

TL;DR: Corre group now holds a sizable 35.3% stake and has committed voting support for a warrant issuance tied to a Stellex transaction.

The reported 1,587,296 shares (35.282%) is a material ownership position that can influence shareholder votes. The Support Agreement binds Corre holders to vote for issuance of 96,884 additional warrants in connection with the Purchase Agreement with Stellex, which may dilute existing holders if exercised. The agreement's termination upon shareholder approval or expiration of commitments creates a defined timeline for near-term governance outcomes. For investors, the key metrics are the stake size, the specific number of Additional Warrants and the limited-term nature of the agreement, all of which are explicitly disclosed in the filing.

Corporate Governance Expert

TL;DR: A formal voting and support agreement aligns Corre holders with the transaction but includes narrow transfer limits and clear termination triggers.

The Support Agreement legally restricts transfers (with small-sale exceptions) and requires votes in favor of the transactions contemplated by the Purchase Agreement and Shareholders Agreement. Such contractual voting commitments are typical in negotiated financings and reduce uncertainty around shareholder approval. Termination clauses tied to shareholder approval, extinguishment of warrant commitments or specified breaches provide predictable end points. The filing properly references Exhibit 99.1 for the full agreement text, enabling scrutiny of any protective provisions or escrow-like conditions within the agreement itself.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

TEAM INC

(Name of Issuer)

Common Stock, $0.30 par value

(Title of Class of Securities)

878155100

(CUSIP Number)

John Barrett
12 East 49th Street, 40th Floor,
New York, NY, 10017
646-863-7152

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/11/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

Corre Opportunities Qualified Master Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,040,951.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,040,951.00

11

Aggregate amount beneficially owned by each reporting person

1,040,951.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.138 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

Corre Horizon Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 249,942.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 249,942.00

11

Aggregate amount beneficially owned by each reporting person

249,942.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.556 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

Corre Horizon II Fund, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 296,403.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 296,403.00

11

Aggregate amount beneficially owned by each reporting person

296,403.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.588 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

Corre Partners Advisors, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,587,296.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,587,296.00

11

Aggregate amount beneficially owned by each reporting person

1,587,296.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.282 %

14

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

John Barrett

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,587,296.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,587,296.00

11

Aggregate amount beneficially owned by each reporting person

1,587,296.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.282 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

CUSIP No. 878155100

1

Name of reporting person

Eric Soderlund

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,587,296.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,587,296.00

11

Aggregate amount beneficially owned by each reporting person

1,587,296.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.282 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.30 par value
(b)	Name of Issuer: TEAM INC
(c)	Address of Issuer's Principal Executive Offices: 12 East 49th Street, 40th Floor, New York, NEW YORK , 10017.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	On September 11, 2025, the Issuer entered into a securities purchase agreement (the "Purchase Agreement") between the Issuer and InspectionTech Holdings LP (the "Stellex Holder"), an affiliate of Stellex Capital Management LLC (collectively with the Stellex Holder and certain other affiliates, "Stellex") and entered into a shareholders agreement (the "Shareholders Agreement") with the Stellex Holder and Stellex. In addition, Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP and Corre Horizon II Fund, LP, each an existing shareholder of the Issuer, along with Corre Partners Management, LLC ("Corre"), which has been delegated investment authority over the assets of such shareholders (Corre, collectively with such shareholders, the "Corre Holders"), entered into a voting and support agreement (the "Support Agreement"), by and among the Issuer, the Corre Holders and the Stellex Holder, pursuant to which the Corre Holders have agreed, among other things, (i) not to transfer, subject to certain exceptions (including an exemption for any transfer or series of transfers involving an aggregate of less than 100,000 shares of common stock, $0.30 par value per share, of the Issuer ("Common Stock")), any of their shares of Common Stock, (ii) to vote their shares of Common Stock in favor of the issuance of 65,491 Tranche A Warrants (the "Additional Tranche A Warrants") and an additional 31,393 Tranche B Warrants (the "Additional Tranche B Warrants" and, together with the Additional Tranche A Warrants, the "Additional Warrants," and the Additional Warrants together with the Initial Warrants, the "Warrants" and any shares of Common Stock issuable upon exercise of the Warrants (the "Warrant Shares")) and any other proposal necessary for consummation of the transactions contemplated by the Purchase Agreement and the Shareholders Agreement and (iii) to vote their shares of Common Stock against any action, proposal, transaction or agreement (A) that would reasonably be expected to impede, interfere with or delay the consummation of any of the transactions contemplated by the Purchase Agreement, the Shareholders Agreement or the Support Agreement and (B) that would result in a breach of any covenant, representation, warranty or any other obligation or agreement of the Issuer or certain of its subsidiaries contained in the Purchase Agreement or the Shareholders Agreement or of the Corre Holders contained in the Support Agreement. The Support Agreement will terminate upon the earlier to occur of (a) immediately after the completion of the first meeting of the Issuer's shareholders after the date of the Support Agreement (whether special or annual) at which approval for the issuance of Warrant Shares and any other proposal necessary for consummation of the transactions contemplated by the Purchase Agreement or the Shareholder Agreement is submitted to the vote of the Issuer's shareholders (provided that, in the event the Issuer has not called a special meeting within 60 days of the date of the Support Agreement for such purpose, the Corre Holders will have the right to require the Issuer to promptly call such meeting), (b) the first date on which no Warrant or any commitment under the Purchase Agreement to purchase any Additional Warrants remains outstanding, (c) the date of any material breach of the Purchase Agreement by the Stellex Holder that is not cured within five days thereof following notice by the Issuer and (d) September 30, 2026. The foregoing description of the Support Agreement is a summary and is qualified in its entirety by the terms of the Support Agreement, a copy of which is filed as Exhibit 99.1 and incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	99.1 - Voting and Support Agreement, dated as of September 11, 2025, by and among the Issuer, Corre Partners Management, LLC, Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP, Corre Horizon II Fund, LP and InspectionTech Holdings LP (incorporated by reference to Exhibit 10.4 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 12, 2025).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Corre Opportunities Qualified Master Fund, LP

Signature:	/s/ John Barrett
Name/Title:	John Barrett, Managing Member
Date:	09/15/2025

Corre Horizon Fund, LP

Signature:	/s/ John Barrett
Name/Title:	John Barrett, Managing Member
Date:	09/15/2025

Corre Horizon II Fund, LP

Signature:	/s/ John Barrett
Name/Title:	John Barrett, Managing Member
Date:	09/15/2025

Corre Partners Advisors, LLC

Signature:	/s/ John Barrett
Name/Title:	John Barrett, Managing Member
Date:	09/15/2025

John Barrett

Signature:	/s/ John Barrett
Name/Title:	John Barrett, Managing Member
Date:	09/15/2025

Eric Soderlund

Signature:	/s/ Eric Soderlund
Name/Title:	Eric Soderlund
Date:	09/15/2025