Innovex International, Inc. (NYSE: INVX) has completed its merger with Dril-Quip, Inc., leading to the formation of a unique energy industrial platform. The combined company has taken on the name Innovex International and will commence trading on the New York Stock Exchange under the ticker symbol "INVX" on September 9, 2024.
Post-merger, the company's common stock ceased trading under the previous symbol "DRQ" as of the close of trading on September 6, 2024. Adam Anderson, CEO of Innovex International, expressed excitement about the merger, highlighting the creation of a differentiated business with a curated portfolio of technologies to support customers throughout the well's lifecycle.
Following the merger, Innovex International is positioned as a Houston-based company with a comprehensive portfolio extending throughout the lifecycle of the well. It offers innovative product integration to ensure seamless transitions from one well phase to the next, thereby driving efficiency, lowering costs, and reducing the rig site service footprint for the customer.
The company's reach extends across North America, Latin America, Europe, the Middle East, and Asia, providing technical expertise, conventional and innovative technologies, and consistent customer service.
As Innovex International begins trading on the NYSE, investors will be keen to observe how the merger impacts the company's financial performance and key metrics in the upcoming quarters. As a result of these announcements, the company's shares have moved -3.5% on the market, and are now trading at a price of $15.41. If you want to know more, read the company's complete 8-K report here.
