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Acuren (OTCQX: TICA), a leading asset integrity services provider, has announced its approval for listing on the NYSE American stock exchange. The company's common stock will commence trading under the new symbol 'TIC' on February 18, 2025, while continuing to trade on OTCQX until February 14, 2025.
CEO Talman Pizzey highlighted this move as an opportunity to showcase their operational excellence and growth potential in the TIC sector to a broader investor base. Co-Chairman Robert Franklin emphasized this listing as a stepping stone towards eventual NYSE listing, expecting increased trading liquidity and enhanced corporate profile.
Acuren (OTCQX: TICA) has successfully completed the repricing of its $773 million term loan, reducing the applicable margin by 75 basis points to SOFR + 275. This refinancing is expected to result in annual cash interest savings of approximately $5.8 million. The term loan's maturity date of 2031 and other material provisions under the credit agreement remain unchanged.
According to CFO Kristin Schultes, the successful repricing demonstrates strong market demand and lender confidence in Acuren, while the reduced interest expense strengthens the company's financial position and flexibility to maximize shareholder value.
Acuren (OTCQX: TICA), based in Tomball, Texas, has announced that its senior leadership will participate in the CJS Securities “New Ideas for the New Year” Virtual Conference on Tuesday, January 14, 2025.
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