NASDAQ OMX

National Energy Services Reunited Corp. Completes $210,000,000 Initial Public Offering

17.5.2017 19:30 | NASDAQ OMX

Dela

NEW YORK and HOUSTON, May 17, 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 closing of its initial public offering ("IPO") of 21,000,000 units at a price to the public of $10.00 per unit, with the offering raising gross proceeds of $210,000,000.  The units commenced trading on Friday, May 12, 2017, on The NASDAQ Capital Market ("Nasdaq") under the symbol "NESRU." 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. Certain lead investors, as defined in the final prospectus, who have agreed to hold their shares through the consummation of our initial business combination and not seek redemption in connection therewith, purchased an aggregate of $60,000,000 of units in the IPO.

Maxim Group LLC and National Bank of Canada Financial Inc. acted as the joint book running managers for the offering. NESR has granted the underwriters a 45-day option to purchase up to 3,150,000 additional units to cover over-allotments, if any.

Of the proceeds received from the consummation of the IPO, $210,000,000 (or $10.00 per unit sold in the IPO) was placed in trust. An audited balance sheet of the Company as of May 17, 2017 reflecting receipt of the proceeds from the IPO will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (the "SEC").

Ellenoff Grossman & Schole LLP acted as U.S. counsel to the Company, Ogier acted as British Virgin Islands counsel to the Company and Loeb & Loeb acted as counsel to the underwriters.

Registration statements relating to these securities were 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.

This offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Maxim Group LLC 405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by Tel: (800) 724-0761. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

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". 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 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@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

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.

Senaste nyheterna från NASDAQ OMX

Oxford Immunotec Appoints Richard Wenstrup, MD, as Chief Medical Officer24.7.2017 15:00Pressmeddelande

OXFORD, United Kingdom and MARLBOROUGH, Mass., July 24, 2017 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-regulated conditions, today announced the appointment of Richard Wenstrup, MD, as Chief Medical Officer. Dr. Wenstrup brings to Oxford Immunotec more than 20 years of clinical leadership experience, including over a decade within the diagnostics industry. Most recently, Dr. Wenstrup served as Executive Vice President, Chief Medical Officer, for Myriad Genetics, Inc., where he played a key leadership role and made substantial contributions across the company that helped drive and support a multi-fold increase in revenue over a decade. In addition to building and leading Myriad's clinical and medical affairs teams, Dr. Wenstrup was actively involved in the company's product development, M&A, and in-licensing activi

Minerva Neurosciences Announces Departure of Directors24.7.2017 14:30Pressmeddelande

WALTHAM, Mass., July 24, 2017 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system disorders, today announced the resignation of two members of its board of directors, Michele Ollier and Nico Vandervelpen.  Following the Company's recent public offering and the resultant improvement in its financial position, Dr. Ollier and Mr. Vandervelpen will step down to focus on their private equity activities. Their resignations are effective today. "We would like to thank Michele and Nico for their invaluable contributions to Minerva as a private company and as it has transitioned during the past three years from a venture capital-backed company to a publicly traded company that has advanced several assets into late-stage clinical development," said Marc Beer, chairman of Minerva. About Minerva Neurosciences

French Energy Operator GRDF Enlists Appian's Low-code Platform for Enterprise-wide Deployment24.7.2017 14:00Pressmeddelande

RESTON, Va., July 24, 2017 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announces that leading French gas distributor GRDF will deploy its latest enterprise application developed on Appian's low-code platform. The new application is designed to manage the extension of gas distribution networks in France, and will be deployed to more than 2,500 users across GRDF. This marks GRDF's fifth major application deployed on the Appian Platform.  GRDF is already benefitting from Appian's low-code applications, which enhance the customer experience and transform traditional business methods to more efficient and agile processes. Appian provides GRDF with the speed needed to capitalize on opportunities that the digital world presents, as well as the power to streamline complex business processes. Jean-Marc Wojtecki, Deputy CIO at GRDF, commented: "We solidly believe in the power of low-code for building new applications quickly. Appian allows us to innovate more effici

Placetel is named as a leading UC solution in Germany by ISG Experton Group24.7.2017 10:00Pressmeddelande

Placetel, Powered by BroadSoft, named as a leader in the "ISG Provider Lens Germany 2017 - Cloud Transformation / Operation Services & XaaS" Study recognizes broad functional spectrum and strong focus on SMEs Operation of data centers in Germany is acknowledged as a further advantage COLOGNE, Germany, July 24, 2017 (GLOBE NEWSWIRE) --  Placetel, a cloud PBX service from BroadSoft Germany GmbH, has been named by ISG/Experton Group, a leading fully integrated research, advisory and consulting company, as one of the best cloud-based solutions for Unified Communications as a Service (UCaaS) in Germany. ISG/Experton Group positioned Placetel, powered by BroadSoft, in the leadership quadrant in its provider comparison "ISG Provider Lens Germany 2017 - Cloud Transformation / Operation Services & XaaS". An infographic accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attach

Gaining Momentum: Vricon Hires Barry Tilton as CTO and VP of Engineering21.7.2017 15:21Pressmeddelande

McLean, Virginia, July 20, 2017 (GLOBE NEWSWIRE) -- Vricon, a global leader in 3D imagery, is pleased to announce the addition of Barry Tilton, who will join Vricon Systems LLC as the Vice President of Engineering and CTO for U.S. Government Programs. Vricon's mission is to build The Globe in 3D by producing photorealistic 3D products and digital elevation models with unmatched coverage and delivery timelines. Tilton will spearhead efforts to create new content and improve response times and product quality for Vricon's customers. Tilton brings a unique and extensive background in the Defense and Intelligence communities, having worked in remote sensing systems design and user support for a range of customers, to include the Air Force Space program, the National Geospatial-Intelligence Agency, the National Reconnaissance Office, the Office of the Director of Intelligence, and the Under Secretary of Defense for Intelligence. Tilton also has experience in international technic

REG Celebrates Completion of Upgrade Project at Emden Biorefinery20.7.2017 19:46Pressmeddelande

EMDEN, Germany, July 20, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ:REGI) marked the completion of upgrades at its Emden, Germany biorefinery Wednesday with a ribbon cutting ceremony with government and community members. REG invested 2.5 million € for the installation of a new biodiesel distillation column and a thermal oil heater. "This investment is another milestone in REG's European strategy to be a leader in delivering high quality biofuels," said Jean Scemama, Vice President, REG Energy Europe.  "Within this strategy, Emden is positioned to perform well with deep water access to receive and deliver products by vessel and can now meet or exceed the highest quality standards required by our customers." "This project is a result of teamwork across REG's teams in Europe and the U.S." said Brad Albin, Vice President, Manufacturing.  "Upgrading Emden's distillation capability enables us to more effe

I vårt nyhetsrum kan du läsa de senaste nyheterna, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt nyhetsrum