08:25 AM EDT, 05/30/2025 (MT Newswires) -- National Energy Services Reunited ( NESR ) said Friday it has initiated an exchange offer and consent solicitation for its outstanding Nasdaq-listed warrants.

The company said it is offering 0.10 ordinary shares for each warrant tendered, aiming to reduce dilution and simplify its capital structure.

As of May 30, 35.5 million warrants are outstanding, with National Energy Services Reunited ( NESR ) offering up to 3.55 million shares in exchange.

The company said it is also seeking approval to amend its warrant agreement, allowing it to require that warrants outstanding after the close of the exchange offer be converted into 0.09 shares.

The offer expires on June 30, it added.