Pioneer energy services announces the accelerated mandatory conversion of 5.00% convertible senior unsecured pik notes due 2025

Houston, oct. 8, 2021 /prnewswire/ -- pioneer energy services llc (the "company" or "pioneer"), the successor to pioneer energy services corp. ("pes") and a wholly owned subsidiary of patterson-uti energy, inc. (nasdaq: pten) ("patterson-uti"), today announced the accelerated mandatory conversion of all outstanding principal amount of its 5.00% convertible senior unsecured pik notes due 2025 (the "convertible notes"). the previously announced consummation of the acquisition by patterson-uti of pes on october 1, 2021 constituted a share exchange event under the terms of the convertible notes indenture, dated may 29, 2020.
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