KLX Energy Services Holdings completed a rights offering that raised $37.2 million by issuing 24,975,001 common shares at $1.49 each. The company will allocate $31.0 million to general corporate purposes, including offering expenses, and use $6.2 million to redeem its Senior Secured Floating Rate Cash / PIK Notes due 2030 at par plus accrued and unpaid interest. Existing 2030 Notes holders backstopped the offering and are expected to receive approximately 59.3 million shares through an exchange of notes for common stock, reducing the notes’ outstanding principal by $94.0 million in total. Shares and proceeds are expected to be distributed on or about September 29, 2026, subject to customary closing conditions.