 Forum Energy Technologies, Inc. Forum or the Company NYSE: FET today announced it has commenced an offer to exchange its existing notes for new 9.00 convertible secured notes due 2025. The new notes will pay interest at the rate of 9.00 as compared to the rate of 6.25 on the existing notes. Of such interest, 6.25 will be payable in cash and 2.75 will be payable in cash or additional notes, at the Companys option. The new notes will mature five years from issuance as compared to the maturity of October 1, 2021 on the existing notes. The new notes will be secured by a first lien on substantially all of the Companys assets, except for revolving credit facility collateral, which will secure the new notes on a second lien basis while the existing notes will remain unsecured. The new notes will also be convertible into common stock as described in more detail below. 