National Energy Services Reunited Corp. (NASDAQ:NESRU) Files An 8-K Other Events
Item 8.01 Other Events
On May 17, 2017, National Energy Services Reunited Corp. (the
Company) consummated its initial public offering (IPO) of
21,000,000 units (the Units), each Unit consisting of one of the
Companys ordinary shares, no par value (Ordinary Shares), and one
warrant to purchase one-half of one Ordinary Share, to the
registration statements (File Nos. 333-217006 and 333-217911)
(collectively, the Registration Statement). The Units were sold
at an offering price of $10.00 per Unit, generating gross
proceeds of $210,000,000.
Of the 21,000,000 Units sold, 6,000,000 were sold to lead
investors (as defined in the Registration Statement), who entered
into letter agreements with the Company in the form attached as
Exhibit 10.8 to the Registration Statement, to which they agreed
to hold their shares through the consummation of our initial
business combination and not seek redemption in connection
therewith.
As previously reported on a Current Report on Form 8-K of the
Company, on May 17, 2017, simultaneously with the consummation of
the IPO, the Company completed a private placement (the Private
Placement) of an aggregate of 11,850,000 warrants (the Placement
Warrants) to the Companys sponsor at a price of $0.50 per
Placement Warrant, generating total proceeds of $5,925,000.
As of May 17, 2017, a total of $210,000,000 of the net proceeds
from the IPO and the Private Placement were deposited in a trust
account established for the benefit of the Companys public
shareholders.An audited balance sheet as of May 17, 2017
reflecting receipt of the proceeds upon consummation of the IPO
and the Private Placement has been issued by the Company and is
included as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01Financial Statements and
Exhibits
| ExhibitNumber | Description | |
| 99.1 | Audited Balance Sheet |
About National Energy Services Reunited Corp. (NASDAQ:NESRU)
National Energy Services Reunited Corp. is a blank check company. The Company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination. The Company intends to focus its search on target businesses that operate in the energy services industry, with an emphasis on oil and gas services globally. The Company will either seek shareholder approval of its initial business combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they vote for or against the proposed business combination, into their pro rata share of the aggregate amount then on deposit in the trust account (net of taxes payable and working capital released to us), or provide its shareholders with the opportunity to sell their shares to us by means of a tender offer. National Energy Services Reunited Corp. (NASDAQ:NESRU) Recent Trading Information
National Energy Services Reunited Corp. (NASDAQ:NESRU) closed its last trading session at with 1,159 shares trading hands.