Team, Inc. announced that an entity controlled by Stellex Capital Management LLC acquired all 1,604,326 shares of common stock previously held by Corre Partners Management, LLC and its affiliates at $35.50 per share in a privately negotiated transaction. This acquisition increases Stellex's ownership to approximately 35% of the outstanding common stock, including preferred stock and warrants issued in September 2025. Concurrently, Corre irrevocably waived its board observation rights, board nomination rights (including the right to designate the Chairman), and other investor rights under a June 2023 agreement, though rights regarding the Lender Director remain effective. Team, Inc. is a global provider of specialty industrial services offering inspection, heat-treating, and mechanical services.
