KLX Energy Services launches $125M backstopped rights offering

KLX Energy Services Holdings Inc. has announced a $125 million backstopped rights offering for common stock holders of record as of August 21, 2026. Existing holders of the company's Senior Secured Floating Rate Cash/PIK Notes due 2030 will backstop $94 million of the offering, potentially increasing to $125 million. The net proceeds, up to $31 million, will be used for general corporate purposes, with any excess applied to repurchase 2030 Notes.