Civeo closes $100 million convertible notes offering due 2031, buys back $22.3 million of stock
Civeo completed a private offering of $100 million in 4.50% convertible senior notes due 2031 on July 7, 2026, with an option for initial purchasers to buy up to an additional $15 million. The company used about $22.3 million of the net proceeds to repurchase 660,297 common shares and plans to use the rest to repay borrowings under its syndicated facility agreement.
Key points
- Notes carry a 4.50% interest rate, payable semi-annually, and mature August 1, 2031
- Net proceeds of about $96.2 million, after discounts and offering expenses
- Initial conversion price of about $40.51 per common share; maximum of 2,962,080 shares issuable, or 3,406,392 if the option is fully exercised
- Company may not redeem the notes before August 1, 2029, except for tax or cleanup redemptions
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.