TRADING QUOTES                                12:04 PM   September 24, 2018

IPO Terms/Details

Total Public Proceeds at IPO ($mm):$229.2
% Held in Trust:100.0%
$ Held in Trust per Unit:$10.00
Mgmt's Sector Expertise/Focus:Energy services - emphasis on oil & gas services (globally)
IPO Date:May 11, 2017
Months to Complete:24
Deadline Date:May 11, 2019
Unit Structure (NESRU)
Share (NESR):1 Ordinary Share
Warrant (NESRW):1 Warrant
Public Warrant Terms:
Exercise Price:$11.50
Redemption Price:$18.00
Cash or Cashless Redemption:Mgmt's Discretion
Book-runner(s) and Lead Mgr(s):Maxim Group LLC, National Bank of Canada Financial Inc.
Fees (Upfront/Deferred):2.0% / 3.5%
Issuer's Counsel:Ellenoff Grossman & Schole LLP
Underwriter's Counsel:Loeb & Loeb LLP


CURRENT FUNDS in TRUST: $ 231.3 million (as of March 30, 2018)

National Energy Services Reunited Corp. proposes to combine with Gulf Energy SAOC (“GES”) and National Petroleum Services (“NPS”) for an aggregate purchase price of approximately $1.1 billion, or 5.4x the Company’s estimated 2018 EBITDA. GES and NPS are leading regional oilfield services companies offering a mix of drilling, completion and production services and equipment in the MENA and Asia Pacific regions.

  • NESR’s goal is to provide a focused investment theme to Middle East/North Africa (MENA) land and shallow offshore market
  • Opportunity to create the largest and first listed regional MENA oilfield services champion in a fragmented market dominated by international services operators and characterized by long-term contracts and in-country value.
  • Platform to expand regional presence and product portfolio through further M&A, adding scale and bringing technology to the region.
  • Backed by two experienced investors (SCF Partners and Hana Investments) who will bring additional capital and experience to this sector.
NESR Proposed Acquisition of GES and NPS
NESR Proposed Acquisition of GES and NPS

Investor Presentation Proxy Statement NESR Website NPS Website GES Website

J.P. Morgan acted as the sole financial advisor to NESR on its acquisitions of NPS and GES. Citigroup and Freshfields Bruckhaus Deringer acted as the sell-side advisers to NPS. 


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