Acuren to sell $250 million in securities to existing investor

HOLLYWOOD, Fla. - Acuren Corporation (NYSE:TIC), which plans to rebrand as TIC Solutions, Inc., announced Monday it has entered into a definitive agreement to sell $250 million of securities in a private placement to an existing investor. According to InvestingPro data, the company maintains a strong financial position with liquid assets exceeding short-term obligations and operates with a moderate debt level.

The transaction involves approximately 20.8 million shares of common stock at $12.00 per share, or pre-funded warrants with an exercise price of $0.0001 per share. The private placement is expected to close around October 7, subject to customary closing conditions.

Acuren intends to use the proceeds for general corporate purposes, according to the company’s press release. Jefferies LLC served as the sole placement agent for the transaction.

The securities being sold have not been registered under the Securities Act of 1933 and cannot be offered or sold in the United States except through an effective registration statement or applicable exemption. Acuren and the investor have agreed that the company will file a registration statement with the SEC for resale of the shares no later than 15 days after closing.

Acuren describes itself as a provider of tech-enabled Testing, Inspection, Certification, and Compliance services and asset integrity solutions. The company operates primarily across North America with some international presence, serving industries including industrials, energy processing, utilities, and infrastructure.

The company employs more than 11,000 people across over 250 locations and plans to complete its rebranding to TIC Solutions on October 10.

In other recent news, Acuren Corp. has reported preliminary third-quarter results that did not meet analyst expectations, as noted by UBS. Both revenue and adjusted EBITDA were below estimates, marking the first quarter to include partial results from its recent acquisition of NV5. UBS has maintained its Neutral rating on Acuren with a price target of $11.00. Additionally, Acuren announced a rebranding initiative, changing its name to TIC Solutions, Inc., effective October 10, 2025, following its merger with NV5. The company will relocate its headquarters to Hollywood, Florida, while continuing to operate its legacy brands. Jefferies has initiated coverage on Acuren with a Buy rating, highlighting the potential for EBITDA margin expansion by 200 basis points to 18% by 2027. This projection is attributed to cost synergies from the NV5 acquisition and strategic business improvements. Previously, Acuren reported a 1.5% year-over-year increase in Q2 2025 service revenues to $313.9 million, alongside a strategic acquisition of NV5 for $1.7 billion. Despite this revenue growth, adjusted EBITDA decreased to $54.6 million, reflecting a drop in its EBITDA margin.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.