Forbes Energy Services Ltd. (OTCMKTS:FESL) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 – Termination of Material Definitive Agreements.
Termination of the Merger Agreement
As previously reported, on December 23, 2019, Forbes Energy Services Ltd. (“Company”), announced that it, along with certain of its subsidiaries, had entered into an Agreement and Plan of Merger, dated as of December 19, 2019 (as amended, supplemented, and modified from time to time, the “Merger Agreement”) with Superior Energy Services, Inc. (“Superior”) and New NAM, Inc., a Delaware corporation and subsidiary of Superior (“NAM”). On June 1, 2020, the Company received a written notice of termination (the “Termination Notice”) from Superior and NAM. As a result, the Merger Agreement has been terminated, effective as of June 1, 2020. Neither the Company, Superior nor NAM is obligated to pay a termination fee in connection with the termination of the Merger Agreement.