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NESR Announces Expiration and Results of Exchange Offer and Consent Solicitation Relating to its Warrants
NESR Announces Expiration and Results of Exchange Offer and Consent Solicitation Relating to its
About this update from National Energy Services Reunited Corp
[{"type":"text","content":"HOUSTON - National Energy Services Reunited Corp. ('NESR' or the 'Company') (NASDAQ: NESR) (NASDAQ: NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ('MENA') region, announced today the expiration and results of its previously announced exchange offer and consent solicitation relating to its outstanding warrants (the 'Warrants') to purchase ordinary shares of the Company, no par value (the 'Ordinary Shares').\nThe Offer and Consent Solicitation expired at 11:59 P.M., Eastern Time, on June 30, 2025.\nNESR has been advised that 34,135,493 Warrants, or approximately 96.05% of the outstanding Warrants, were validly tendered and not validly withdrawn prior to the expiration of the Offer and Consent Solicitation. NESR expects to accept all validly tendered warrants for exchange and settlement on or before July 3, 2025.\nIn addition, pursuant to the Consent Solicitation, the Company received the approval of approximately 96.05% of the outstanding Warrants to the amendment to the warrant agreement governing the Warrants (the 'Warrant Amendment'), which exceeds 50% of the outstanding Warrants required to effect the Warrant Amendment. The Warrant Amendment would permit the Company to require that each Warrant that is outstanding upon settlement of the Offer be converted into 0.09 Ordinary Shares, which is a ratio 10% less than the exchange ratio applicable to the Offer.\nNESR expects to execute the Warrant Amendment concurrently with the settlement of the Offer, and thereafter, expects to exercise its right in accordance with the terms of the Warrant Amendment, to exchange all remaining untendered Warrants for shares of the Company's Ordinary Shares, following which, no Warrants will remain outstanding.\nThe Company also announced that its Registration Statement on Form F-4 filed with the Securities and Exchange Commission (the 'SEC') registering the Company's Ordinary Shares issuable in the Offer was declared effective by the SEC on June 24, 2025.BTIG, LLC was the dealer manager for the Offer and Consent Solicitation.\nCautionary Statement Regarding Forward-Looking Statements\nStatements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exc...