13D Filings
Team Inc
TISI
Amendment
Ownership

4.99%

Total Shares

500,000

Issuer CIK

318833

Event Date

Aug 5, 2026

Accepted

Aug 10, 2026, 04:52 PM

Reporting Persons (5)
NameType% of ClassAggregateSole VotingShared Voting
Corre Opportunities Qualified Master Fund, LP
Partnership
4.99%255,0580255,058
Corre Partners Advisors, LLC
Other
4.99%500,0000500,000
John Barrett
Individual
4.99%00500,000
Corre Horizon II Fund, LP
2.74%128,8500128,850
Corre Horizon Fund, LP
Partnership
2.48%116,0920116,092
Disclosure Items (6)

Security Title

Common Stock, $0.30 par value

Issuer Name

Team Inc

Issuer Address

13131 Dairy Ashford, Sugar Land, TX, 77478

Effective as of February 1, 2026, Mr. Eric Soderlund has retired from his positions with Corre Partners Advisors, LLC and Corre Partners Management, LLC and has ceased to have or share voting or dispositive power with respect to the securities that are the subject of this filing. Accordingly, Mr. Soderlund is hereby removed as a Reporting Person.

On August 6, 2026, Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP and Corre Horizon II Fund, LP, each an existing shareholder of the Issuer, along with Corre Partners Management, LLC ("Corre"), which has been delegated investment authority over the assets of such shareholders (collectively with such shareholders, the "Corre Holders"), entered into a securities purchase agreement (the "Purchase Agreement") with InspectionTech Holdings LP (the "Stellex Holder"). Pursuant to the Purchase Agreement, the Sellers sold all common stock held by the Sellers (consisting of 1,054,719 shares held by Qualified Master Fund, LP, 249,942 shares held by Corre Horizon Fund, LP and 299,665 shares held by Corre Horizon II Fund, LP) to the Buyer for aggregate consideration of $56,953,573. Pursuant to the Purchase Agreement, until the earlier of (x) December 31, 2027 and (y) the date that Buyer or its affiliates obtain the right to designate one or more directors of the Issuer in addition to the number of directors that Buyer or its affiliates had the right to designate as of the date of the Purchase Agreement (the "Additional Buyer Director Designation Date"), the Corre Holders have agreed to consult with Buyer regarding the Sellers Parties' rights to nominate a director to the Issuer's Board of Directors pursuant to the Board Rights Agreement, dated as of June 16, 2023 (the "Board Rights Agreement"), as amended. Further, until the earlier of (x) December 31, 2027 or the Additional Buyer Director Designation Date, upon Buyer's request, the Corre Holders will use their reasonable best efforts to obtain the resignation of the Lender Director (as such term is defined in the Board Rights Agreement). The Purchase Agreement also contains certain customary standstill restrictions on Corre and the Corre Holders, subject to certain exceptions. Pursuant to the Purchase Agreement, on August 6, 2026, the Corre Holders delivered an irrevocable waiver to the Issuer under the Board Rights Agreement, waiving the Corre Holders' rights to Board Observers and Board Nomination Rights, other than with respect to the Lender Director. The foregoing description of the Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which has been filed as Exhibit 99.1 hereto and incorporated by reference herein.

Percentage of Class

See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of shares of Common Stock and percentage of shares of Common Stock beneficially owned by each Reporting Person, and is calculated based upon an aggregate of 4,571,382 shares of Common Stock outstanding as of May 11, 2026, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 filed with the SEC on May 13, 2026 and assumes the issuance of the shares of Common Stock underlying Warrant No. 2, Warrant No. 3 and Warrant No. 4 held by the Reporting Persons.

Number of Shares

See rows (7) through (10) of the cover page to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

Transactions

Item 4 of this Schedule 13D is incorporated by reference. No other transactions in the shares of Common Stock have been effected by each Reporting Person during the past sixty (60) days.

Date of 5% Ownership

8-07-2026

The Reporting Persons' response to Item 4 of this Amendment is incorporated by reference into this Item 6.

99.1 - Securities Purchase Agreement, dated as of August 6, 2026, by and among Corre Partners Management, LLC, Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP, Corre Horizon II Fund, LP and InspectionTech Holdings LP.