NEW YORK and HOUSTON, May 30, 2017 (GLOBE NEWSWIRE) -- National Energy Services Reunited Corp. (Nasdaq:NESRU), a company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities, announced today that it has consummated the sale of an additional 1,921,700 units pursuant to the partial exercise of the underwriters' over-allotment option in connection with the Company’s initial public offering (“IPO”). The additional units were sold at $10.00 per unit, generating additional gross proceeds of $19,217,000 to the Company and bringing the total gross proceeds of the IPO to $229,217,000.

About NESR

NESR, led by Sherif Foda, is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities. The Company's efforts to identify a target business will not be limited to a particular industry or geographic region, although we intend to focus our search on target businesses and assets in the energy services industry, with an emphasis on oil and gas services globally.

NESR completed its IPO on May 17, 2017. Our units trade on the NASDAQ Capital Market under the symbol "NESRU”. The common stock and warrants comprising the Units are expected to begin separate trading on June 5, 2017. We will have 24 months from the closing of our IPO to consummate our initial business combination.