Team Inc. says Stellex bought Corre's 1.6 million TISI shares at $35.50 each
An entity controlled by Stellex Capital Management agreed to buy all 1,604,326 common shares held by Corre Partners Management and its affiliates at $35.50 per share in a privately negotiated sale. Team, Inc. issues no shares and receives no proceeds, and Stellex is expected to own about 35% of the outstanding common stock upon closing, along with preferred stock and warrants it received in September 2025. Separately, Corre irrevocably waived its board observation and nomination rights, including the right to designate the Chairman, effective August 6, 2026.
Key points
- Stellex-controlled entity to acquire 1,604,326 common shares from Corre at $35.50 per share.
- Team, Inc. will not issue shares or receive proceeds from the transaction.
- Upon closing, Stellex is expected to own about 35% of common stock, plus preferred stock and warrants issued in September 2025.
- Corre waived its board observation and nomination rights, including the right to designate the Chairman, effective August 6, 2026; rights tied to the Lender Director remain in place.
The filing
Written by AI on Nov 9, 2026, 8:51 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 August 10, 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.