KLX Energy Services Holdings, Inc. — Form 8-K

KLX Energy Services Holdings (market cap ~$29M) adopted a stockholder rights plan effective September 23, 2026, expiring September 23, 2027. The plan is triggered if any person acquires 10% or more of outstanding common stock (or if an existing 10%+ holder acquires additional shares). Upon triggering, existing rights holders can purchase common stock at significant discount; rights of the triggering person become null and void. The plan was adopted after a new investor rapidly accumulated shares during the company's $125M backstopped rights offering (which capped non-backstop participants at 9.995% ownership) and requested to purchase up to 30% of the company. Backstop parties are exempted from the trigger threshold. No specific dollar amounts of the new investor's accumulation are disclosed in the filing.