National Energy Services Reunited Corp. Announces Pricing of $210,000,000 Initial Public Offering
(Thomson Reuters ONE) -
NEW YORK and HOUSTON, May 12, 2017 (GLOBE NEWSWIRE) -- National Energy Services
Reunited Corp. (Nasdaq:NESRU) ("NESR" or the "Company"), a company formed for
the purpose of acquiring, engaging in a share exchange, share reconstruction and
amalgamation, purchasing all or substantially all of the assets of, entering
into contractual arrangements, or engaging in any other similar business
combination with one or more businesses or entities, today announced the pricing
of its initial public offering ("IPO") of 21,000,000 units at a price to the
public of $10.00 per unit. The units are expected to be listed on The NASDAQ
Capital Market ("NASDAQ") under the symbol "NESRU" beginning May 12, 2017. Each
unit issued in the IPO consists of one ordinary share and one warrant to acquire
one-half of one ordinary share at a price of $11.50 per full share. Once the
securities comprising the units begin separate trading, the ordinary shares and
warrants are expected to be traded on Nasdaq under the symbols "NESR" and
"NESRW", respectively.
Maxim Group LLC and National Bank of Canada Financial Inc. are acting as joint
book running managers for the IPO. NESR has granted the underwriters a 45-day
option to purchase up to 3,150,000 additional units to cover over-allotments, if
any.
The offering is being made only by means of a prospectus. When available, copies
of the prospectus related to this offering may be obtained from Maxim Group LLC
405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by Tel:
(800) 724-0761.
A registration statement relating to the securities was declared effective by
the SEC on May 11, 2017. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About NESR
NESR, led by Sherif Foda, is a blank check company, also commonly referred to as
a Special Purpose Acquisition Company, or SPAC, formed for the purpose of
acquiring, engaging in a share exchange, share reconstruction and amalgamation,
purchasing all or substantially all of the assets of, entering into contractual
arrangements, or engaging in any other similar business combination with one or
more businesses or entities. The Company's efforts to identify a target business
will not be limited to a particular industry or geographic region, although we
intend to focus our search on target businesses and assets in the energy
services industry, with an emphasis on oil and gas services globally.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking
statements," including with respect to the proposed initial public offering and
the anticipated use of the net proceeds. No assurance can be given that the
offering discussed above will be completed on the terms described, or at all, or
that the net proceeds of the offering will be used as indicated. Forward-looking
statements are subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk Factors section of
the Company's registration statement and preliminary prospectus for the
Company's offering filed with the Securities and Exchange Commission ("SEC").
Copies are available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes after the date
of this release, except as required by law.
Contact:
Dhiraj Dudeja
NESR Corp
dhiraj(at)nesrco.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: National Energy Services Reunited Corp. via GlobeNewswire
Datum: 12.05.2017 - 14:30 Uhr
Sprache: Deutsch
News-ID 542219
Anzahl Zeichen: 4636
contact information:
Town:
HOUSTON
Kategorie:
Business News
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