BRIEF-Unit Corp Completes Financial Restructuring

Sept 3 (Reuters) - Unit Corp UNTCQ.PK :

* UNIT CORPORATION SUCCESSFULLY COMPLETES FINANCIAL RESTRUCTURING

* UNIT CORP - EMERGES FROM CHAPTER 11 AND APPOINTS NEW BOARD OF DIRECTORS

* UNIT CORP - WILL ISSUE A TOTAL OF 12 MILLION SHARES OF NEW COMMON STOCK

* UNIT CORP - NEW BOARD OF DIRECTORS CONSISTS OF SEVEN MEMBERS

* UNIT CORP - EXPECTS DEBT FOR EQUITY EXCHANGE AND COMMON STOCK FOR WARRANT EXCHANGE UNDER PLAN TO BE COMPLETED DURING 2020 Q4

* UNIT CORP - SEEKING TO FACILITATE TRADING OF NEW COMMON STOCK ON ONE OF OTC MARKETS

* UNIT CORP - WILL COMPLETE A DEBT-FOR-EQUITY EXCHANGE WITH HOLDERS OF COMPANY&aposS PREVIOUS 6.625% SENIOR SUBORDINATED NOTES

* UNIT CORP - EXCHANGE ITS PRIOR COMMON STOCK (OLD COMMON STOCK) FOR WARRANTS TO PURCHASE ITS NEW COMMON STOCK

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