Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

Forum Energy Technologies  / Equity Bottom-Up

<ul><li>FET plans to redeem all of its 9.00% Convertible Senior Secured Notes before year-end 2024 and the Variperm Seller Term Loan in 2025, paving the way to consider returning cash to shareholders in 2H25.</li><li>After repurchasing $13 million of the convertible notes in 2Q24, management announced its intent to redeem the $60 million principal amount of the notes on August 16, 2024.</li><li>Further, management intends to redeem the remaining ~$61 million of convertible notes in 4Q24. </li></ul>

FET plans to redeem all of its 9.00% Convertible Senior Secured Notes before year-end 2024 and the Variperm Seller Term Loan in 2025, paving the way to consider returning cash to shareholders in 2H25.After repurchasing $13 million of the convertible notes in 2Q24, management announced its intent to redeem the $60 million principal amount of the notes on August 16, 2024.Further, management intends to redeem the remaining ~$61 million of convertible notes in 4Q24. 

Forum Energy Technologies, Inc. - FET: Pathway to Return Cash to Shareholders in Sight