| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | USWS | 16.0% Convertible Senior Secured PIK | Jul 1, 2021 | Class A Common Stock | 12.8M | Direct | F1, F2, F3, F4 |
| Id | Content |
|---|---|
| F1 | On July 1, 2021, the Reporting Person acquired an aggregate principal amount of $12,500,000 in 16.0% Convertible Secured PIK Notes of the Issuer (the "Notes"). |
| F2 | Subject to earlier conversion or redemption in accordance with their terms, the Notes will become due and payable on June 5, 2026 (the "Maturity Date") in a number of shares of Class A Common Stock, determined by dividing (a) the outstanding balance of the principal amount of the Notes (together with the accrued but unpaid interest on the Notes) as of the Maturity Date, by (b) the volume weighted average price of Class A Common Stock for the 20 trading day period immediately preceding the Maturity Date (or in such other manner as determined pursuant to the terms of the Note Purchase Agreement). |
| F3 | All or any portion of the Notes may be converted at the election of Holdings at any time into a number of shares of Class A Common Stock, determined by dividing (a) the outstanding balance of the principal amount of the Notes being converted (together with the accrued but unpaid interest thereon) as of the applicable conversion date, by (b) a conversion price of $0.98, which such conversion price is subject to certain anti-dilution adjustments in accordance with its terms. |
| F4 | This number represents the number of shares of Class A Common Stock issuable upon conversion of the Notes if Holdings elects to convert the Notes based on the principal amount of the Notes (as described in footnote (3) above) and the conversion price applicable to the Notes (as described in footnote (3) above). |