Forum Energy announces $75M share repurchase pact, sale-leaseback deals

Forum Energy (FET) Technologies announced that its Board of Directors has authorized a program for the repurchase of outstanding shares of FET’s common stock having an aggregate purchase price of up to $75M. …In addition, it may be executed using open market purchases pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as amended, in privately negotiated agreements pursuant to Rule 10b5-1 plans or other transactions…In the fourth quarter, FET completed sales of two manufacturing facilities located in Texas. Net proceeds totaled approximately $20M. The properties remain an integral part of FET’s operations and long-term lease agreements were executed in connection with the transaction.