Company: TISI
Filing Date: 2025-10-09
Form Type: S-3
Source: 0001193125-25-235868
Chunk: 12

Company: TEAM INC
Filing Date: 2025-10-09
Form: S-3
Chunk 12
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 1.00. The Stellex Holder is not required to consummate a Delayed Draw more than once per calendar quarter. Undrawn amounts of Delayed Draw Preferred Shares will be
subject to an undrawn commitment fee of 1.0% per annum (“Undrawn Fee”), payable quarterly (and on the date of each draw (in respect of accrued amounts related to the amount so drawn)), by adding such amounts to the Stated Value (as
defined herein) of the Series B preferred stock.

Upon each issuance of 5,000 Delayed Draw Preferred Shares, we will issue to the Stellex
Holder an additional 65,491 Tranche A Warrants (the “Additional Tranche A Warrants”) and an additional 31,393 Tranche B Warrants (the “Additional Tranche B Warrants”) on substantially similar terms, except that upon each
issuance of Delayed Draw Preferred Shares on or after December 10, 2025, any Additional Tranche A Warrants issued shall have an initial exercise price the lesser of (x) $30.00 and (y) 110% of
the 30-day volume weighted average price of the common stock, subject to adjustments. Any Additional Tranche B Warrants issued shall have an initial exercise price of $50.00 per share, subject to
adjustments.

Pursuant to the Purchase Agreement, we are required to apply the net proceeds of each Delayed Draw (i) to finance
permitted acquisitions and certain growth initiatives (including the costs of expansion into new markets), (ii) to repay loans outstanding under the First Lien Term Loan Credit Agreement, and (iii) for up to 20% of such net proceeds, to
finance our transformation plan mutually agreed between us and Stellex.

3

THE OFFERING

| Common stock to be offered by the selling securityholders: | Up to 1,453,260 shares. |

| Common stock to be outstanding after the offering: | 5,952,114 shares (based on 4,498,854 shares outstanding as of October 8, 2025 and assuming the exercise in full of the Warrants). |

| Use of proceeds: | We will not receive any proceeds from the sale of shares in this offering. See “Use of Proceeds” beginning on page 6 of this prospectus. |

| Risk factors: | You should read the “Risk Factors” beginning on page 5 of this prospectus,