Key facts
- This page summarizes BEAL FINANCIAL CORP's Form 4 filing for U.S. WELL SERVICES, INC..
- 0 reported transactions and 0 derivative rows are listed below.
- Accepted by SEC: 02 Jul 2021, 12:54.
BEAL FINANCIAL CORP - 25 Jun 2021 Form 4 Insider Report for U.S. WELL SERVICES, INC.
- SEC form
- 4
- Accepted by SEC
- 02 Jul 2021, 12:54:17 UTC
- Prior SEC filing
- 13 May 2021
- Source filing
- View source filing
- Reporting owner signature
- /s/ Jacob Cherner, as Authorized Signatory of Beal Financial Corporation
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
BEAL FINANCIAL CORP filed Form 4 for U.S. WELL SERVICES, INC. on 02 Jul 2021.
Change
- Previous filing in this sequence was filed on 13 May 2021.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
USWS
holding
Class A Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 9,489,199
- Date
- 25 Jun 2021
- Ownership
- See Footnote
- Footnotes
- F1, F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
BEAL FINANCIAL CORP is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 2 footnotes
Footnote F1
This Form 4 is jointly filed by Beal Financial Corporation ("BFC") and D. Andrew Beal (each a "Reporting Person" and together, the "Reporting Persons"). D. Andrew Beal controls BFC through ownership of 100% of the common stock of BFC. Therefore, each of D. Andrew Beal and BFC may be deemed to have indirect beneficial ownership of the securities of U.S Well Services, Inc. (the "Issuer") directly held by LNV Corporation ("LNV"), LPP Mortgage, Inc. ("LPP"), and CXA-10 Corporation dba CSG Investment Finance, Inc. ("CXA"). Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of such Reporting Person's respective pecuniary interest therein.
Footnote F2
The Reporting Persons are beneficial owners of 9.75% of the Issuer's Class A Common Stock. This percentage is calculated based on (i) 93,377,516 shares of Class A Common Stock issued and outstanding as of June 24, 2021 as represented by the Issuer in the Purchase Agreement, dated June 24, 2021, by and among the Issuer and the other parties thereto, filed as Exhibit 10.1 to the Form 8-K filed by the Issuer with the Securities and Exchange Commission on June 24, 2021 (the "PIK Note Purchase Agreement"), plus (ii) 3,959,577 shares of Class A Common Stock issuable upon conversion of 1,050 shares of Series B Preferred Stock. The calculation assumes conversion of all of LNV's and LPP's Series B Preferred Stock into 3,959,577 shares of Class A Common Stock as of June 24, 2021 combined with CXA's 5,529,622 shares of Class A Common Stock. Holders of Series B Preferred Stock are entitled to voting rights as set forth in the Certificate of Designations of the Series B Preferred Stock.
SEC remarks
Power of Attorney is attached here to as Exhibit 24. The reporting person's beneficial ownership has fallen below ten percent. As a result, the reporting person is no longer subject to Section 16 in connection with its transactions in the equity securities of U.S. Well Services, Inc. and therefore will no longer report any such transactions on Form 4 or Form 5.