09:00 AM EDT, 06/06/2024 (MT Newswires) -- SECURE Energy Services Inc. ( SECYF ) on Thursday announced preliminary results of its substantial issuer bid, pursuant to which it offered to purchase for cancellation up to $250 million of its outstanding common shares from holders of shares for cash. The offer expired at 5pm (Eastern time) on June 5, 2024.

In accordance with the terms and conditions of the offer and based on the preliminary count by Odyssey Trust Company, as depositary for the offer, SECURE said it expects to take up and pay for approximately 21,929,819 Shares at a price of $11.40 per share under the offer, representing an aggregate purchase amount of approximately $250 million and 8.33% of SECURE's issued and outstanding shares before giving effect to the offer. Immediately following completion of the offer, SECURE expects to have 241,178,566 Shares issued and outstanding.