Company: TISI
Filing Date: 2025-10-09
Form Type: S-3
Source: 0001193125-25-235868
Chunk: 22

Company: TEAM INC
Filing Date: 2025-10-09
Form: S-3
Chunk 22
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 exercise of the Warrants. We will issue the shares to the selling securityholders in reliance on an exemption from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the
Securities Act and Rule 506 promulgated thereunder (or, in the case of the issuance of any shares of common stock upon cashless exercise of any Warrants, in a transaction exempt from registration pursuant to Section 3(a)(9) of the Securities
Act).

Pursuant to that certain Registration Rights Agreement, dated September 11, 2025 (the “Registration Rights
Agreement”), we entered into with the Stellex Holder, we are obligated to register for resale the shares of common stock issuable upon the exercise of the Warrants on a registration statement to be filed with the SEC no later than
October 14, 2025. The Registration Statement of which this prospectus is a part has been filed to satisfy this obligation. Under the terms of the Registration Rights Agreement, we have agreed, among other things, to indemnify the Stellex Holder
from certain liabilities and to pay all our fees and expenses incident to our performance of or compliance with the Registration Rights Agreement. The Registration Rights Agreement provides the Stellex Holder and its permitted transferees certain
customary demand and piggyback rights, subject to certain terms and conditions set forth therein.

The following table sets forth as of
October 8, 2025: (1) the name of the selling securityholders on behalf of whom we are registering shares of our common stock under the Registration Statement of which this prospectus is a part, (2) the number of shares of our common stock
beneficially owned by such selling securityholders prior to the offering, determined in accordance with Rule 13d-3 under the Exchange Act (but, for this purpose, including all shares of our common stock
issuable upon full exercise of the Warrants, even if such shares are not deemed beneficially owned in accordance with Rule 13d-3 under the Exchange Act due to restrictions on exercise), (3) the number of
shares of our common stock that may be offered by such selling securityholders under this prospectus and (4) the number of shares of our common stock to be owned by such selling securityholders after completion of this offering, assuming all of
the shares of common stock available for issuance under this prospectus are sold. We will not receive any of the proceeds from the sale of the