INDEPENDENCE CONTRACT DRILLING, INC. ENGAGES PIPER SANDLER & CO. AS FINANCIAL ADVISOR TO STRATEGIC ALTERNATIVES COMMITTEE

HOUSTON, March 21, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) previously disclosed that ICD's Board of Directors ("Board") has initiated a formal review process to begin evaluating alternatives with respect to refinancing its convertible notes and other strategic opportunities and formed a committee of independent directors for that purpose.  Today, ICD is announcing that the Strategic Alternatives Committee of the Board has engaged Piper Sandler & Co. as financial advisor to the committee to assist in this evaluation process.