National Energy Services Reunited Corp. Announces Completion of Exchange Offer and Consent Solicitation and Notice to Exercise Right to Exchange Remaining Outstanding Warrants
National Energy Services Reunited Corp. (NASDAQ:NESR) has completed its previously announced warrant exchange offer and consent solicitation. The company issued 3,413,645 ordinary shares in exchange for tendered warrants. Additionally, NESR will exercise its right to exchange all remaining untendered warrants at a ratio of 0.09 ordinary shares per warrant on July 18, 2025.
Following the completion of both exchanges, no warrants will remain outstanding. As a result, NESR's warrants (NESRW) will be suspended from trading and delisted from Nasdaq, while the company's ordinary shares will continue trading under the symbol NESR.
National Energy Services Reunited Corp. (NASDAQ:NESR) ha completato la sua precedente offerta di scambio di warrant e la richiesta di consenso. La società ha emesso 3.413.645 azioni ordinarie in cambio dei warrant presentati. Inoltre, NESR eserciterà il diritto di scambiare tutti i warrant rimanenti non presentati con un rapporto di 0,09 azioni ordinarie per warrant il 18 luglio 2025.
Dopo il completamento di entrambi gli scambi, non rimarranno warrant in circolazione. Di conseguenza, i warrant di NESR (NESRW) saranno sospesi dalla negoziazione e rimossi dal Nasdaq, mentre le azioni ordinarie della società continueranno a essere negoziate con il simbolo NESR.
National Energy Services Reunited Corp. (NASDAQ:NESR) ha completado su oferta de intercambio de warrants y solicitud de consentimiento previamente anunciada. La compañía emitió 3.413.645 acciones ordinarias a cambio de los warrants entregados. Además, NESR ejercerá su derecho a intercambiar todos los warrants restantes no entregados a una tasa de 0,09 acciones ordinarias por warrant el 18 de julio de 2025.
Tras la finalización de ambos intercambios, no quedarán warrants pendientes. Como resultado, los warrants de NESR (NESRW) serán suspendidos de negociación y eliminados de Nasdaq, mientras que las acciones ordinarias de la compañía continuarán cotizando bajo el símbolo NESR.
National Energy Services Reunited Corp. (NASDAQ:NESR)는 이전에 발표한 워런트 교환 제안 및 동의 요청을 완료했습니다. 회사는 청약된 워런트와 교환하여 3,413,645 보통주를 발행했습니다. 추가로 NESR은 2025년 7월 18일에 남아있는 미청약 워런트를 모두 워런트당 0.09 보통주 비율로 교환할 권리를 행사할 예정입니다.
두 교환이 완료된 후에는 미결제 워런트가 남아있지 않게 됩니다. 이에 따라 NESR의 워런트(NESRW)는 거래가 중단되고 나스닥에서 상장 폐지되며, 회사의 보통주는 NESR 심볼로 계속 거래됩니다.
National Energy Services Reunited Corp. (NASDAQ:NESR) a finalisé son offre d’échange de bons de souscription et sa sollicitation de consentement précédemment annoncées. La société a émis 3 413 645 actions ordinaires en échange des bons souscrits. De plus, NESR exercera son droit d’échanger tous les bons non souscrits restants au ratio de 0,09 action ordinaire par bon le 18 juillet 2025.
Après la réalisation des deux échanges, aucun bon ne restera en circulation. En conséquence, les bons de NESR (NESRW) seront suspendus de la négociation et radiés du Nasdaq, tandis que les actions ordinaires de la société continueront d’être négociées sous le symbole NESR.
National Energy Services Reunited Corp. (NASDAQ:NESR) hat sein zuvor angekündigtes Angebot zum Umtausch von Warrants und die Einholung von Zustimmungen abgeschlossen. Das Unternehmen hat 3.413.645 Stammaktien im Austausch für eingereichte Warrants ausgegeben. Zusätzlich wird NESR sein Recht ausüben, alle verbleibenden nicht eingereichten Warrants am 18. Juli 2025 im Verhältnis von 0,09 Stammaktien pro Warrant umzutauschen.
Nach Abschluss beider Umtausche werden keine Warrants mehr ausstehen. Infolgedessen werden die Warrants von NESR (NESRW) vom Handel ausgesetzt und von der Nasdaq delistet, während die Stammaktien des Unternehmens weiterhin unter dem Symbol NESR gehandelt werden.
- Complete elimination of all outstanding warrants simplifies the capital structure
- Mandatory exchange of remaining warrants ensures full completion of warrant restructuring
- None.
Insights
NESR is simplifying its capital structure by converting all warrants to ordinary shares, streamlining its securities profile.
National Energy Services Reunited Corp. has completed its previously announced exchange offer for outstanding warrants, issuing 3,413,645 ordinary shares for tendered warrants. The company is now exercising its right to forcibly exchange all remaining untendered warrants at a ratio of
This strategic financial maneuver will result in a complete elimination of NESR's warrant class of securities. The warrant amendment facilitates this mandatory exchange, allowing the company to convert its entire warrant liability into equity. As a consequence, NESR's capital structure will be significantly streamlined, with the warrants being delisted from Nasdaq while the ordinary shares continue trading under the NESR symbol.
This transaction represents a deliberate simplification of NESR's capital structure, which often benefits companies by reducing administrative complexity and removing the potential dilutive overhang that warrants can create. For existing warrant holders, this mandatory conversion crystallizes the value of their securities at the specified exchange ratio, eliminating any further speculative value from the warrants. The elimination of warrants also removes the variable element in the company's fully diluted share count, providing greater clarity on NESR's equity structure for all market participants.
HOUSTON, TX / ACCESS Newswire / July 3, 2025 / 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 completion of its previously announced exchange offer (the "Offer") and consent solicitation (the "Consent Solicitation") relating to its outstanding warrants (the "Warrants") to purchase ordinary shares of the Company, no par value (the "Ordinary Shares"). The Company issued 3,413,645 Ordinary Shares in exchange for the Warrants tendered in the Offer.
The Company also entered into the related amendment to the warrant agreement governing the Warrants (the "Warrant Amendment") and announced that it will exercise its right, in accordance with the terms of the Warrant Amendment, to exchange all remaining untendered Warrants at an exchange ratio of 0.09 Ordinary Shares for each Warrant. The Company has fixed the date for such exchange as July 18, 2025.
As a result of the completion of the Exchange Offer and the upcoming exchange for the remaining untendered Warrants, no Warrants will remain outstanding. Accordingly, the Warrants are expected to be suspended from trading on Nasdaq and be delisted. The Ordinary Shares will continue to be listed and trade on Nasdaq under the symbol NESR.
The Company engaged BTIG, LLC as the dealer manager for the Offer and Consent Solicitation. Sodali & Co. served as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent.
# # #
Cautionary Statement Regarding Forward-Looking Statements
Statements 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 (as amended, the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may relate to, among other things, the Company's expectations regarding the exchange offer and consent solicitation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the Securities and Exchange Commission (the "SEC"), including those factors discussed under the caption "Risk Factors" in such filings.
You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update any forward-looking statements to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.
About National Energy Services Reunited Corp.
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in 16 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
For inquiries regarding NESR, please contact:
Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com
SOURCE: National Energy Services Reunited Corp
View the original press release on ACCESS Newswire
FAQ
What is the exchange ratio for NESR's remaining untendered warrants?
How many ordinary shares did NESR issue in the warrant exchange offer?
What will happen to NESR warrants (NESRW) after the exchange?
Will NESR ordinary shares continue trading on Nasdaq after the warrant exchange?
