NEW CANAAN, Conn., Oct. 31, 2018 /PRNewswire/ -- Matlin &
Partners Acquisition Corporation (NASDAQ: MPAC, MPACU, MPACW)
("MPAC") today announced that it intends to adjourn, without
conducting any business, its special meeting in lieu of the 2018
annual meeting of stockholders of MPAC (the "special meeting") to
be held with respect to its proposed business combination (the
"business combination") with U.S. Well Services, LLC ("USWS"), in
light of recent market volatility and public announcements by
USWS. The special meeting was previously scheduled for
November 1, 2018 at 9:00 a.m., local time, at Matlin & Partners
Acquisition Sponsor LLC, 520 Madison Avenue, 35th Floor,
New York, New York 10022 and will
be convened at that time and location in order to adjourn the
special meeting.
MPAC intends to reconvene the special meeting at 4:00 p.m., local time, on Friday, November 2, 2018, at Matlin &
Partners Acquisition Sponsor LLC, 520 Madison Avenue, 35th Floor,
New York, New York 10022.
The record date for the special meeting, October 5, 2018, will not change as a result of
the adjournment.
At the special meeting, holders of MPAC's Class A Common
Stock, par value $0.0001 per share,
and Class F Common Stock, par value $0.0001 per share, will be asked to approve and
adopt the previously announced Merger and Contribution Agreement,
dated as of July 13, 2018 (the
"Merger and Contribution Agreement"), and the transactions
contemplated thereby, including the business combination, and to
approve the other proposals described in the definitive proxy
statement for the special meeting.
About USWS
U.S. Well Services, LLC's Clean Fleet ® technology provides one
of the first fully electric, fully mobile well stimulation system
powered by natural gas fueled by locally supplied field gas or
alternative natural gas sources. USWS' patented Clean Fleet
technology dramatically decreases sound pollution, which is vital
in this day and age as well as generates exceptional operational
cost savings. For more information visit:
www.uswellservices.com.
About MPAC
Matlin & Partners Acquisition Corporation is a special
purpose acquisition company incorporated in March 2016 for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses.
MPAC's strategy is to identify and acquire a business that is
misvalued in an industry impacted by market dislocation or
regulatory uncertainty, and whose market value and operating
results can be positively affected by its management team.
Additional Information About The Business Combination And
Where To Find It
MPAC has filed with the Securities and Exchange Commission (the
"SEC") a definitive proxy statement in connection with the proposed
business combination and other matters and mailed the definitive
proxy statement and other relevant documents to its stockholders as
of the record date for the special meeting. MPAC's
stockholders and other interested persons are advised to read the
definitive proxy statement and any amendments thereto in connection
with MPAC's solicitation of proxies for the special meeting of
stockholders to be held to approve, among other things, the
proposed business combination, because these documents contain
important information about MPAC, USWS and the proposed business
combination. MPAC's stockholders may also obtain a copy of
the definitive proxy statement, as well as other documents filed
with the SEC by MPAC, without charge, at the SEC's website located
at www.sec.gov or by directing a request to Matlin & Partners
Acquisition Corporation, 520 Madison Avenue, 35th Floor,
New York, New York Attention:
General Counsel, or by telephone at (212) 651-9525.
Participants in the Solicitation
MPAC and its directors and executive officers, USWS and its
directors and executive officers, and other persons may be deemed
to be participants in the solicitations of proxies from MPAC's
stockholders in respect of the proposed business combination.
Information regarding MPAC's and USWS' directors' and executive
officers' participation in the proxy solicitation and a description
of their direct and indirect interests are contained in the
definitive proxy statement related to the proposed business
combination, which can be obtained free of charge from the sources
indicated above.
Forward-Looking Statements
This news release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of
words such as "estimate," "plan," "project," "forecast," "intend,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements with respect to the completion of the transactions
contemplated by the Merger and Contribution Agreement as well as
the revised date of the special meeting. Accordingly,
forward-looking statements should not be relied upon as
representing MPAC's or USWS' views as of any subsequent date, and
neither MPAC nor USWS undertakes any obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws. You should not place undue
reliance on these forward-looking statements. As a result of
a number of known and unknown risks and uncertainties, actual
results or performance may be materially different from those
expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ
include, but are not limited to: (1) the occurrence of any event,
change or other circumstances that could give rise to the
termination of the Merger and Contribution Agreement; (2) the
outcome of any legal proceedings that may be instituted against
USWS or MPAC following announcement of the proposed business
combination and related transactions; (3) the inability to complete
the transactions contemplated by the Merger and Contribution
Agreement due to the failure to obtain approval of the stockholders
of MPAC or satisfy other conditions to the closing of the proposed
business combination; (4) the ability to obtain or maintain the
listing of MPAC's common stock on the Nasdaq Capital Market
following the proposed business combination; (5) changes in
applicable laws or regulations; (6) the possibility that USWS or
MPAC may be adversely affected by other economic, business, and/or
competitive factors; and (7) other risks and uncertainties
identified in the definitive proxy statement to filed by MPAC in
connection with the proposed business combination, including those
under "Risk Factors" therein, and other factors identified in
MPAC's prior and future filings with the SEC, available at
www.sec.gov.
No Offer or Solicitation
This news release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No portion of USWS' website is incorporated by
reference into or otherwise deemed to be a part of this news
release.
Contacts
Meaghan Repko / Aaron Palash / Greg
Klassen
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
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SOURCE Matlin & Partners Acquisition Corporation