National Energy Services announces expiration, results of exchange offer

National Energy Services (NESR) Reunited Corp.announced today the expiration and results of its previously announced exchange offer and consent solicitation relating to its outstanding warrants to purchase ordinary shares of the Company, no par value. The Offer and Consent Solicitation expired at 11:59 P.M., Eastern Time, on June 30. NESR has been advised that 34,135,493 Warrants, or approximately 96.05% of the outstanding Warrants, were validly tendered and not validly withdrawn prior to the expiration of the Offer and Consent Solicitation. NESR expects to accept all validly tendered warrants for exchange and settlement on or before July 3, 2025. In addition, pursuant to the Consent Solicitation, the Company received the approval of approximately 96.05% of the outstanding Warrants to the amendment to the warrant agreement governing the Warrants, which exceeds 50% of the outstanding Warrants required to effect the Warrant Amendment. The Warrant Amendment would permit the Company to require that each Warrant that is outstanding upon settlement of the Offer be converted into 0.09 Ordinary Shares, which is a ratio 10% less than the exchange ratio applicable to the Offer.