- Basic Energy Services (BAS) -42.4% premarket after announcing a restructuring support agreement with lenders and debtholders under which the company would file for Chapter 11 bankruptcy on or before Oct. 25.
- The group of lenders and noteholders have committed to provide up to $90M of liquidity via debtor-in-possession financing to help maintain the company's operations.
- The plan would provide existing BAS shareholders with a recovery in the form of 0.5% of the company's equity, which would be 0.26% of the total outstanding equity upon conversion of mandatorily convertible notes.