SEC Form 4 · accession 0000947871-18-000427
National Energy Services Reunited Corp. · NESR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
May 18, 2018
Accepted (ET)
May 18, 2018 · 9:03 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001698514
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary Shares, $0.00 par valueF1,F2 | May 18, 2018 | J | 3,000,000 | — | D | 0 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantF1,F2,F3 | $11.50 | May 18, 2018 | J | 3,000,000 | D | — | — | Ordinary Shares | 1,500,000 | 0 | I |
Explanation of responses
- F1Reflects transfer of ordinary shares and warrants (together the "Units") made in connection with, and contingent on the shareholder approval of, the initial business combination of the Issuer. Each Unit was transferred in consideration for the price at which each Unit was purchased by the reporting persons at the initial public offering of the Issuer ($10 per Unit).
- F2The shares were directly owned by Competrol Establishment, which is a wholly owned subsidiary of Olayan Investments Company Establishment, which is a wholly owned subsidiary of Olayan International Limited. Olayan Investments Company Establishment and Olayan International Limited were indirect beneficial owners of the reported securities. Each reporting person disclaims beneficial ownership of all interests reported on this Form 4 except to the extent of such reporting person's pecuniary interests.
- F3The warrants become exercisable 30 days after the completion of an initial business combination and will expire on the fifth anniversary of such completion or earlier upon redemption.
Remarks
After giving effect to the transactions reported on this Form 4, the reporting persons beneficially own less than 10% of the outstanding shares of the Issuer.