UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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| Item 8.01 | Other Events. |
As previously reported, on August 14, 2022, Team, Inc. (the “Company”) entered into that certain Equity Purchase Agreement (the “Sale Agreement”) with Baker Hughes Holdings LLC, a Delaware limited liability company (“Buyer”), pursuant to which Buyer acquired all of the issued and outstanding equity interests of a wholly-owned subsidiary of the Company, TQ Acquisition, Inc., a Texas corporation (the “Transaction”). On November 1, 2022 and in accordance with the Sale Agreement, the Company completed the Transaction. The Transaction was previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on November 7, 2022 and such description is incorporated herein by reference.
The following unaudited pro forma condensed consolidated statement of operations giving effect to the Transaction is filed herewith as Exhibit 99.1:
| • | Unaudited pro forma condensed consolidated statement of operations of the Company and its subsidiaries for the fiscal year ended December 31, 2022, giving effect to the Transaction as if it had occurred on January 1, 2022. |
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit number | Description | |
| 99.1 | Unaudited Pro Forma Condensed Consolidated Statement of Operations of the Company for the Year Ended December 31, 2022, giving effect to the Transaction as if it had occurred on January 1, 2022. | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TEAM, Inc. | ||
| By: | /s/ Nelson M. Haight | |
| Nelson M. Haight | ||
| Chief Financial Officer (Principal Financial Officer) | ||
Dated: March 14, 2023