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CHAMPIONX CORPORATION

(CHX)
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ChampionX : Announces Plan to Redeem $90 Million of 6.375% Senior Notes Due 2026

09/08/2021 | 07:00am EDT

THE WOODLANDS, Texas, Sept. 08, 2021 (GLOBE NEWSWIRE) -- ChampionX Corporation (Nasdaq: CHX) (the “Company”) has informed Wells Fargo, National Association, the trustee of the Company’s 6.375% Senior Notes due 2026 (the “Notes”), of its intent to redeem $90 million of the Notes this month. Notice is expected to be provided to the holders of the Notes on or about September 13, 2021, with redemption ten days following Notice. The Notes will be redeemed pursuant to Section 11.01 of the Indenture and paragraph 5 of the Notes (the “Redemption”) at 104.781% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. ChampionX plans to use proceeds from the sale of its Corsicana, Texas, chemical manufacturing plant, and cash on hand to fund the redemption of the Notes.

This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities.

About ChampionX

ChampionX is a global leader in chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely and efficiently around the world. ChampionX’s products provide efficient functioning throughout the lifecycle of a well with a focus on the production phase of wells. Visit www.championx.com to learn more.

Investor Contact:
Byron Pope – byron.pope@championx.com – 281-602-0094

Media Contact:
John Breed – john.breed@championx.com – 281-403-3751

 


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Source: ChampionX Corporation

2021 GlobeNewswire, Inc., source Press Releases

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Analyst Recommendations on CHAMPIONX CORPORATION
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Financials (USD)
Sales 2021 3 056 M - -
Net income 2021 99,7 M - -
Net Debt 2021 537 M - -
P/E ratio 2021 54,6x
Yield 2021 -
Capitalization 5 295 M 5 295 M -
EV / Sales 2021 1,91x
EV / Sales 2022 1,62x
Nbr of Employees 6 600
Free-Float 99,2%
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Mean consensus BUY
Number of Analysts 10
Last Close Price 26,24 $
Average target price 27,10 $
Spread / Average Target 3,28%
EPS Revisions
Managers and Directors
Sivasankaran Somasundaram President, Chief Executive Officer & Director
Kenneth M. Fisher Chief Financial Officer & Executive Vice President
Daniel Wayne Rabun Chairman
Mark Eley SVP-Marketing, Technology & Communication
Alina Parast Chief Information Officer & Senior Vice President