National Energy Services Reunited (NESR) said Monday that it plans to start an exchange offer for its outstanding warrants to purchase ordinary shares.
The company said it plans to offer all warrant holders the opportunity to receive 0.10 ordinary shares in exchange for each outstanding warrant tendered.
The company said it also plans to seek consents from holders of the warrants to amend the warrant agreement to allow the company to require that each outstanding warrant tendered be surrendered at a ratio of 0.09 ordinary share.
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