SUGAR LAND, Texas, Nov. 28, 2016 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) ("Team" or the "Company") today announced that it has filed a prospectus supplement under which it may sell up to $150,000,000 of its common stock through an "at-the-market" equity offering program (the "ATM Program"). The Company intends to use the net proceeds from sales under the ATM Program primarily to reduce outstanding indebtedness, which may include amounts outstanding under the Company's senior secured credit facility, and for general corporate purposes. The timing of any sales will depend on a variety of factors to be determined by the Company. The shares will be offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated, Raymond James & Associates, Inc. and SunTrust Robinson Humphrey, Inc., as sales agent and/or principal. Sales of common stock, if any, will be made from time to time in negotiated transactions at market prices prevailing at the time of a sale or at negotiated prices, or as otherwise agreed with the sales agents, and, as a result, sale prices may vary. The Company has filed with the U.S. Securities and Exchange Commission ("SEC") a prospectus supplement to the prospectus contained in its existing shelf registration statement on Form S-3 (file no. 333-214055) for the offering of common stock described in this communication. Sales in the ATM Program will be made pursuant to the prospectus and prospectus supplement. "At-the-Market" offerings as defined in Rule 415 under the Securities Act of 1933, as amended, include sales made directly on or through the New York Stock Exchange, or another market for the Company's common stock, and sales made through a market maker other than on an exchange. Before you invest, you should read the prospectus, prospectus supplement relating to the ATM Program and other documents the Company has filed with the SEC for more complete information about the Company and the ATM Program. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or the Agents will arrange to send you the prospectus supplement, including the prospectus, if you request it by contacting Merrill Lynch at BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or Email: firstname.lastname@example.org; Raymond James at Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, Attention: Prospectus Department or Email: email@example.com; or SunTrust Robinson Humphrey at SunTrust Robinson Humphrey, 3333 Peachtree Road NE, Atlanta, GA 30326, Attention: Prospectus Department or Email: firstname.lastname@example.org. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Company's common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.