U.S. Well Services Inc.


U.S. Well Services Inc. has entered into an Amended and Restated Senior Secured Term Loan Credit Agreement with CLMG Corp. that provides for a suspension of scheduled principal and interest payments for 24 months. Under the terms of the Amended Term Loan Facility, U.S. Well Services’ next scheduled principal and interest payment to the Lenders will be due June 30, 2022. Concurrently, U.S. Well Services sold $21 Million of newly issued Series B Redeemable Convertible Preferred Stock through a private placement with institutional investors, using proceeds from the private placement to fund the $20 Million cash portion of an extension fee payable to the Lenders.

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