SUGAR LAND, Texas, Nov. 28, 2016 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) announced that it has filed a prospectus supplement under which it may sell up to $150,000,000 of its common stock through an “at-the-market” equity offering program. The Company intends to use the net proceeds from sales under the ATM Program primarily to reduce outstanding indebtedness, which may include amounts outstanding under the Company’s senior secured credit facility, and for general corporate purposes. The timing of any sales will depend on a variety of factors to be determined by the Company.
About Team, Inc.
Headquartered near Houston, Texas, Team Inc. is a leading provider of specialty industrial services, including inspection, mechanical services and engineering assessment, required in maintaining and installing high-temperature and high-pressure piping systems and vessels that are utilized extensively in the refining, petrochemical, power, pipeline and other heavy industries. These services are offered through three business units—TeamFurmanite, TeamQualspec and Quest Integrity—through more than 220 branch locations in more than 20 countries throughout the world. Team’s common stock is traded on the New York Stock Exchange under the ticker symbol “TISI”.