Item 1.01 Entry into a Material Definitive Agreement.

On June 14, 2021, KLX Energy Services Holdings, Inc. (the "Company") entered into an Equity Distribution Agreement (the "Agreement") with Piper Sandler & Co. as sales agent (the "Agent"). Pursuant to the terms of the Agreement, the Company may sell from time to time through the Agent (the "Offering"), the Company's common stock, par value $0.01 per share, having an aggregate offering price of up to $50,000,000 (the "Common Stock").

Any Common Stock offered and sold in the Offering will be issued pursuant to the Company's shelf registration statement on Form S-3 (Registration No. 333-256149) filed with the U.S. Securities and Exchange Commission (the "SEC") on May 14, 2021 and declared effective on June 11, 2021 (the "Registration Statement"), the prospectus supplement relating to the Offering filed with the SEC on June 14, 2021 and any applicable additional prospectus supplements related to the Offering that form a part of the Registration Statement. Sales of Common Stock, if any, under the Agreement may be made in any transactions that are deemed to be "at the market offerings" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act").

The Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Agent, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. Under the terms of the Agreement, the Company will pay the Agent a commission equal to 3% of the gross sales price of the Common Stock sold.

The Company plans to use the net proceeds from the Offering, after deducting the Agent's commissions and the Company's offering expenses, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of the Company's then-outstanding indebtedness, and funding acquisitions, capital expenditures and working capital.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed herewith as Exhibit 1.1 and is incorporated by reference herein. A legal opinion relating to the Common Stock is filed herewith as Exhibit 5.1.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.



Exhibit
  No.                                    Description

1.1           Equity Distribution Agreement, dated June 14, 2021, by and between
            the Company and Piper Sandler & Co.

5.1           Opinion of Vinson & Elkins L.L.P.

23.1          Consent of Vinson & Elkins L.L.P. (included in its opinion filed as
            Exhibit 5.1).

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).








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