U.S. Well Services Announces Final Results of Public Warrant Exchange Offer

World News: . []

HOUSTON, April 15, 2019 (GLOBE NEWSWIRE) -- U.S. Well Services, Inc. (Nasdaq: USWS, USWSW) (the “Company,” “we” or “our”) today announced the final results of its previously announced offer to exchange (“Offer to Exchange”) 0.13 shares of the Company’s Class A common stock (“Class A Common Stock”) for each outstanding Public Warrant originally issued in a registered offering. This exchange ratio equates to approximately one share of Class A Common Stock for every 7.69 Public Warrants tendered. The Offer to Exchange expired at 5:30 p.m., Eastern Time, on April 11, 2019. Based on information provided by Continental Stock Transfer & Trust Company, the depositary for the Offer to Exchange, a total of 11,640,974 Public Warrants were properly tendered and not properly withdrawn prior to the expiration of the Offer to Exchange. The Company accepted for exchange all such Public Warrants and will issue an aggregate of approximately 1,513,340 Shares in exchange for the Public Warrants tendered, representing approximately 2.3% of the Class A and Class B Shares outstanding after such issuance. Delivery of the Shares to be issued in exchange for the Public Warrants will be made promptly.

After completion of the Offer to Exchange, 9,994,635 Public Warrants remain outstanding. The Public Warrants will expire on November 9, 2023, unless sooner exercised by the holder or redeemed by the Company in accordance with the terms of the Public Warrants.

Morrow Sodali acted as the Information Agent for the Offer to Exchange. For questions and information, please call the Information Agent toll-free at (855) 291-6792 (banks and brokerage firms, please call (203) 658-9400).

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Globe Newswire: 00:45 GMT Tuesday 16th April 2019

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