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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.

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Equity Bottom-Up

Forum Energy Technologies  / Equity Bottom-Up

<ul><li>FET’s refinanced balance sheet and free cash flow potential position the company to consider alternatives to return cash to shareholders in 2025.</li><li>Proceeds from a $100 million issuance of 10.5% senior secured bonds, together with cash on hand, funded the repayment of the seller term loan and will be used to fund the redemption of the remaining 2025 notes on December 8, 2024.</li><li>The new notes have a tack-on feature in the indenture allowing for the issuance of up to $150 million of incremental notes.</li></ul>

FET’s refinanced balance sheet and free cash flow potential position the company to consider alternatives to return cash to shareholders in 2025.Proceeds from a $100 million issuance of 10.5% senior secured bonds, together with cash on hand, funded the repayment of the seller term loan and will be used to fund the redemption of the remaining 2025 notes on December 8, 2024.The new notes have a tack-on feature in the indenture allowing for the issuance of up to $150 million of incremental notes.

Forum Energy Technologies, Inc. - Refinanced Balance Sheet Paves Way to Consider Returning Cash