KLX Energy Services Holdings, Inc. completed its previously announced subscription rights offering on September 29, 2026, after the offering expired at 5:00 p.m. New York City time on September 23. Investors purchased 24,975,001 shares of common stock at $1.49 per share, generating $37.2 million in gross proceeds. KLX expects to use $31.0 million for general corporate purposes, including offering-related fees and expenses, and $6.2 million to redeem its Senior Secured Floating Rate Cash / PIK Notes due 2030 at par plus accrued and unpaid interest. The company also closed a Backstop Exchange, under which holders exchanged 2030 Notes for 59,273,445 shares at the subscription price. The transactions are expected to leave KLX with 105,677,168 shares outstanding and reduce the notes' principal by $94.0 million. The backstop commitment will fall from $94.0 million to $87.8 million after the $6.2 million redemption, with each backstop party subject to a 30% pro forma fully diluted ownership limit. KLX entered into an amended and restated indenture for the 2030 Notes. The offering was conducted under an effective Form S-3 registration statement and a prospectus filed with the SEC (U.S. securities regulator) on August 24, 2026.