Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q2 2023

Rhea-AI Summary

Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. $5.0M of convertible notes redeemed at par. More rig conversions in progress. 102.2% year-over-year Adj EBITDA growth.

Dallas, Texas--(Newsfile Corp. - August 7, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. The full report can be accessed by clicking on the following link: ICD Q2 2023 Report

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• $5.0M of convertible notes redeemed at par
• More rig conversions in progress
• 102.2% year-over-year Adj EBITDA growth

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176391

FAQ

What is the update from Stonegate Capital Partners about Independence Contract Drilling, Inc?

Stonegate Capital Partners has updated their coverage on Independence Contract Drilling, Inc.

What is the significance of the $5.0M of convertible notes being redeemed at par?

The redemption of $5.0M of convertible notes at par indicates the company's ability to fulfill its financial obligations.

What does 'more rig conversions in progress' mean?

'More rig conversions in progress' implies that Independence Contract Drilling, Inc. is converting additional rigs for its operations.

What is the year-over-year Adj EBITDA growth percentage?

The year-over-year Adj EBITDA growth for Independence Contract Drilling, Inc. is 102.2%.