Superior Drilling Products, Inc. Retains Piper Sandler & Co. as Financial Advisor to Evaluate Strategic Alternatives
22 Mayo 2023 - 7:30AM
Business Wire
Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or
the “Company”), a designer and manufacturer of drilling tool
technologies, announced that it has retained Piper Sandler &
Co. as its financial advisor to investigate a range of strategic
alternatives with the intent to maximize shareholder value.
As part of the process, the Company’s Board of Directors will
consider a full range of strategic alternatives, including sales,
acquisitions, mergers, divestiture of assets, or other strategic
transactions. There can be no assurance that any offers will be
made or accepted, that any agreement will be executed, or that any
transaction will be consummated, in connection with the strategic
alternatives process.
The Company has not set a timetable for the conclusion of its
review of potential alternatives, and does not intend to make
further announcements about the process unless and until the Board
has approved a specific transaction or otherwise determines that
further disclosure is appropriate or necessary.
About Superior Drilling Products, Inc.
Superior Drilling Products, Inc. is an innovative,
cutting-edge drilling tool technology company providing cost saving
solutions that drive production efficiencies for the oil and
natural gas drilling industry. The Company designs, manufactures,
repairs and sells drilling tools. SDP drilling solutions include
the patented Drill-N-Ream® well bore conditioning tool and the
patented Strider™ oscillation system technology. In addition, SDP
is a manufacturer and refurbisher of PDC (polycrystalline diamond
compact) drill bits for a leading oil field service company. SDP
operates a state-of-the-art drill tool fabrication facility, where
it manufactures its solutions for the drilling industry, as well as
customers’ custom products. The Company’s strategy for growth is to
leverage its expertise in drill tool technology and innovative,
precision machining in order to broaden its product offerings and
solutions for the oil and gas industry.
Additional information about the Company can be found at:
www.sdpi.com.
Safe Harbor Regarding Forward Looking Statements This
news release contains forward-looking statements and information
that are subject to a number of risks and uncertainties, many of
which are beyond our control. All statements, other than statements
of historical fact included in this release, including, without
limitations, the Company’s strategic review process, the continued
impact of COVID-19 on the business, the Company’s strategy, future
operations, success at developing future tools, the Company’s
effectiveness at executing its business strategy and plans,
financial position, estimated revenue and losses, projected costs,
prospects, plans and objectives of management, and ability to
outperform are forward-looking statements. The use of words
“could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“may,” “continue,” “predict,” “potential,” “project”, “forecast,”
“should” or “plan, and similar expressions are intended to identify
forward-looking statements, although not all forward -looking
statements contain such identifying words. These statements reflect
the beliefs and expectations of the Company and are subject to
risks and uncertainties that may cause actual results to differ
materially. These risks and uncertainties include, among other
factors, the duration of the COVID-19 pandemic and related impact
on the oil and natural gas industry, the effectiveness of success
at expansion in the Middle East, options available for market
channels in North America, the deferral of the commercialization of
the Strider technology, the success of the Company’s business
strategy and prospects for growth; the market success of the
Company’s specialized tools, effectiveness of its sales efforts,
its cash flow and liquidity; financial projections and actual
operating results; the amount, nature and timing of capital
expenditures; the availability and terms of capital; competition
and government regulations; and general economic conditions. These
and other factors could adversely affect the outcome and financial
effects of the Company’s plans and described herein. The Company
undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date
hereof.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230522005133/en/
For more information, contact investor relations: Deborah
K. Pawlowski / Craig P. Mychajluk Kei Advisors LLC 716-843-3908 /
716-843-3832 dpawlowski@keiadvisors.com /
cmychajluk@keiadvisors.com
Superior Drilling Products (AMEX:SDPI)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Superior Drilling Products (AMEX:SDPI)
Gráfica de Acción Histórica
De May 2023 a May 2024