Following the distribution, Coil Tubing will be an independent, publicly traded company. Coil Tubing's common stock trades on the Pink Sheets under the symbol "CTBG".
"We are extremely pleased that the Company is finally positioned to consummate this long-awaited CTT spin-off," stated Jim Dial, Grifco's President and CEO. "Once consummated, the spin-off frees CTT from being a Grifco subsidiary and allows both companies to individually focus on their primary goals as they continue to operate as pioneers in their respective sectors."
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