Filing Details

Accession Number:
0001493152-21-029466
Form Type:
13D Filing
Publication Date:
2021-11-21 19:00:00
Filed By:
Mubbadrah Investment Llc
Company:
National Energy Services Reunited Corp. (NASDAQ:NESR)
Filing Date:
2021-11-22
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Mubbadrah Investment 0 11,188,414 0 11,188 11,188,414 12.3%
Wild Investments 0 11,188,414 0 11.,188,414 11,188,414 12.3%
Myrad Investment 0 11,188,414 222 11,188,414 11,410,780 12.3%
Yasser Al Barami 222,366 11,188,414 20,292 11,188,414 11,208
Hilal Al Busaidi 20,292 11,188,414
Filing

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

National Energy Services Reunited Corp.

(Name of Issuer)

 

Ordinary Shares, no par value

(Title of Class of Securities)

 

G6375R107

(CUSIP Number)

 

Mubbadrah Investments LLC

Building No. 1/21 Way No. 5001

Near Al Nadha Towers, Ghala,

Muscat, Oman

+968 24390901

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

March 2, 2021

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule I3D, and is filing this schedule because of Sections 240.13d- l (e ), 240. l3d- l(f) or 240.13d-l(g), check the following box. ☐

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240. I 3d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. ·

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

   

CUSIP No. G6375RI07

13DPage 2 of 11

 

1

NAME OF REPORTING PERSONS.

 

Mubbadrah Investment LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

 

 

NUMBER OF

SHARES BENEFICIALLY OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

11,188,414**

9

SOLE DISPOSlTIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

11,188414**

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

11,188,414**

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (I I) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

12.3%***

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* This Schedule 13D is filed by Mubbadrah Investment LLC (“Mubbadrah”), Wild Investments LLC, formerly Wild Holding LLC (“Wild Investments”), Myrad Investment LLC,formerly Myrad Holding LLC (“Myrad Investment”), Yasser Al Barami (“Mr. Al Barami”) and Hilal Al Busaidi (“Mr. Al Busaidi” and, together with Mubbadrah, Wild Investments, Myrad Investment, and Mr. Al Barami, the “Reporting Persons”). The Reporting Persons each expressly disclaim status as a group for purposes of this Schedule 13D.
** Consists of 11,188,414 ordinary shares, no par value (“Ordinary Shares”), of National Energy Services Reunited Corp. (the “Issuer”) held by Mubbadrah. Wild lnvestments and Myrad Investment each own 50% of Mubbadrah. Mr. Al Barami owns 90% of Wild Investments and Mr. Al Busaidi owns 90% of Myrad Investment. By virtue of these relationships, Wild Investments, Myrad Investment, Mr. Al Barami and Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Each of Wild Investments, Myrad Investment, Mr. Al Barami and Mr. Al Busaidi disclaim beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of each of their pecuniary interests therein.
*** The percentage is calculated based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.

 

   

CUSIP No. G6375RI07

13DPage 3 of 11

 

1

NAME OF REPORTING PERSONS.

 

Wild Investments LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

 

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

11,188,414*

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSJTIVE POWER

 

11,188,414*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

I 1,188,414*

12

CHECK IFTHE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

 

l3

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

12.3%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* Consists of 11,188,414 Ordinary Shares held by Mubbadrah. Wild Investments owns 50% of Mubbadrah. By virtue of this relationship, Wild Investments may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Wild Investments disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein.
** The percentage is calculated based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.

 

   

CUSIP No. G6375RI07

13DPage 4 of 11

 

1

NAME OF REPORTING PERSONS.

 

Myrad Investment LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

 

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

7

SOLE VOTING POWER

 

0

8

SHARED VOTING POWER

 

11,188,414*

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

11.,188,414*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

11,188,414*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW ( 11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

12.3%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

 

* Consists of 12,467,314 Ordinary Shares held by Mubbadrah. Myrad Investment owns 50% of Mubbadrah. By virtue of this relationship, Myrad Investment may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Myrad Investment disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein.
** The percentage is calculated based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.

 

   

CUSIP No. G6375RI07

13DPage 5 of 11

 

1

NAME OF REPORTING PERSONS.

 

Yasser Al Barami

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

 

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

7

SOLE VOTING POWER

 

222,366

8

SHARED VOTING POWER

 

11,188,414*

9

SOLE DISPOSITIVE POWER

 

222 366*

10

SHARED DISPOSITIVE POWER

 

11,188,414*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

11,410,780*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW ( 11)

 

12.5%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

IN

 

* Consists of 11,188,414 Ordinary Shares held by Mubbadrah and 222,366 Ordinary Shares held by Mr. Al Barami. Mr. Al Barami owns 90% of Wild Investments, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Barami may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Barami disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein.
** The percentage is calculated based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.

 

   

CUSIP No. G6375RI07

13DPage 6 of 11

 

1

NAME OF REPORTING PERSONS.

 

Hilal Al Busaidi

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒*

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Oman

 

 

NUMBER OF

SHARES BENEFICIALLY OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

20,292

8

SHARED VOTING POWER

 

11,188,414*

9

SOLE DISPOSITIVE POWER

 

20,292*

10

SHARED DISPOSITIVE POWER

 

11,188,414*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

11,208 706*

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW ( 11)

 

12.3%**

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

IN

 

* Consists of (i) 11,188,414 Ordinary Shares held by Mubbadrah and (ii) 20,292 Ordinary Shares held by Mr. Al Busaidi. Mr. Al Busaidi owns 90% of Wild Investments, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Busaidi disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein.
** The percentage is calculated based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.

 

   

CUSIP No. G6375RI07

13DPage 7 of 11

 

This Amendment No. 4 (the “Amendment”) amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on September 27, 2018, by Mubbadrah Investments LLC, an Oman limited liability company (“Mubbadrah”), Wild Investments LLC, an Oman limited liability company,formerly Wild Holding LLC (“Wild Investments”), Myrad Investment LLC, an Oman limited liability company, formerly Myrad Holding LLC (“Myrad Investment”), Yasser Al Barami (“Mr. Al Barami”), and Hilal Al Busaidi (“Mr. Al Busaidi” and, together with Mubbadrah, Wild Investments, Myrad Investment, and Mr. Al Barami, the “Reporting Persons”), as amended by the Amendment No. 1 thereto filed with the Commission on October 8, 2019,the Amendment No. 2 thereto filed with the Commission on June 24, 2020, and the Amendment No. 3 thereto filed with the Commission on October 21, 2020 (such Schedule 13D as amended by Amendment No. 1, Amendment No. 2, and Amendment No. 3 thereof, the “Schedule 13D”). Capitalized terms used but not otherwise defined in this Amendment have the meanings ascribed to such terms in the Schedule 13D. Except as expressly amended and supplemented by this Amendment, the Schedule 13D is not amended or supplemented in any respect, and the disclosures set forth in the Schedule 13D, other than as amended herein are incorporated by reference herein.

 

Item 3. Source and Amount of Funds or Other Consideration

 

Item 3 is hereby amended and modified to include the following (which shall be in addition to the information previously included in the Schedule 13D):

 

This Amendment reports:

 

  (a) the sale by Mubbadrah in open market transactions from September 29, 2020 through September 3, 2021, of 1,278,900 ordinary shares of the Issuer as described on Schedule A,
     
  (c) the sale by Mr. Al Barami in open market transactions from November 2, 2020 through August 27, 2021, of 580,146 ordinary shares of the Issuer as described on Schedule B, and
     
  (d) the sale by Mr. Busaidi in open market transactions from October 30, 2020 through February 1, 2021, of 148,717 ordinaiy shares of the Issuer as described on Schedule C.

 

ltem 5. Interest in Securities of the Issuer

 

  (a) The information set forth on rows 11 and 13 of the cover pages of this Schedule 13D/A is incorporated by reference. The percentage set forth in row 13 is based upon a total of 91,119,218 Ordinary Shares, no par value, of National Energy Services Reunited Corp. outstanding as of June 30, 2021, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on August 6, 2021.
     
  (b) The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D/A is incorporated by reference.
     
  (c) This Amendment reports:

 

  (a) the sale by Mubbadrah in open market transactions from September 29, 2020 through September 3, 2021, of 1,278,900 ordinary shares of the Issuer as described on Schedule A,
     
  (c) the sale by Mr. Al Barami in open market transactions from November 2, 2020 through August 27, 2021, of 580,146 ordinary shares of the Issuer as described on Schedule B, and
     
  (d) the sale by Mr. Busaidi in open market transactions from October 30, 2020 through February I, 2021, of 148,717 ordinary shares of the Issuer as described on Schedule C.

 

  (d) No person (other than the Reporting Persons) is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares subject to this Schedule 13D/A.
     
  (e) Not applicable.

 

   

CUSIP No. G6375RI07

13DPage 8 of 11

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: November 22, 2021

 

  MUBBADRAH INVESTMENT, LLC
     
  By: /s/ Hilal Al Busaidi
  Name: Hilal Al Busaidi
     
  By: /s/ Yasser Al Barami
  Name: Yasser Al Barami
     
  WILD INVESTMENTS LLC
     
  By: /s/ Yasser Al Barami
  Name: Yasser Al Barami
     
  MYRAD INVESTMENT LLC
   
  By: /s/ Hilal Al Busaidi
  Name: Hilal Al Busaidi
     
  AS INDIVIDUALS:
     
  By: /s/ Yasser Al Barami
    YASSER AL BARAMI
     
  By: /s/ Hilal Al Busaidi
    HILAL AL BUSAIDI

 

   

CUSIP No. G6375RI07

13DPage 9 of 11

 

SCHEDULE A

 

Class of Security  Date of Sale  Shares Sold   Average Price Per Share Sold ($) 
Ordinary Shares  9/29/2020   1,900    7.3887
Ordinary Shares  I 0/30/2020   50,000    7.3981
Ordinary Shares  11/18/2020   50,000    8.3
Ordinary Shares  1/27/2021   317,000    10.0225
Ordinary Shares  1/29/2021   160,000    10.7500 
Ordinary Shares  5/11/2021   407,534    13.0804 
Ordinary Shares  5/12/2021   27,768    13.0547 
Ordinary Shares  5/14/2021   64,698    13.0663 
Ordinary Shares  9/2/2021   163,041    1.5062 
Ordinary Shares  9/3/2021   36,959    11.4111 
       1,278,900      

 

   

CUSIP No. G6375RI07

13DPage 10 of 11

 

SCHEDULE B

 

Class of Security  Date of Sale  Shares Sold   Average Price Per
Share Sold ($)
 
Ordinary Shares  11/2/2020   20,000   $7.45 
Ordinary Shares  11/11/2020   40,000   $7.11 
Ordinary Shares  11/17/2020   40,000   $7.60 
Ordinary Shares  11/25/2020   18,146   $9.00 
Ordinary Shares  12/1/2020   20,000   $9.00 
Ordinary Shares  12/3/2020   20,000   $9.30 
Ordinary Shares  12/8/2020   20,000   $9.69 
Ordinary Shares  12/11/2020   20,000   $9.66 
Ordinary Shares  1/5/2021   30,000   $9.85 
Ordinary Shares  1/14/2021   10,000   $10.62 
Ordinary Shares  1/20/2021   20,000   $10.11 
Ordinary Shares  1/28/2021   30,000   $10.24 
Ordinary Shares  2/9/2021   15,000   $11.86 
Ordinary Shares  2/16/2021   15,000   $11.90 
Ordinary Shares  3/1/202 I   20,000   $13.32 
Ordinary Shares  3/10/2021   20,000   $13.31 
Ordinary Shares  3/22/2021   20,000   $11.84 
Ordinary Shares  4/7/2021   21,500   $13.05 
Ordinary Shares  4/8/2021   8,500   $13.12 
Ordinary Shares  4/22/2021   15,000   $11.51 
Ordinary Shares  4/29/2021   15,000   $12.58 
Ordinary Shares  5/14/2021   10,000   $13.03 
Ordinary Shares  6/1/2021   15,000   $13.06 
Ordinary Shares  6/7/2021   15,000   $14.50 
Ordinary Shares  6/18/2021   10,000   $14.75 
Ordinary Shares  6/28/2021   30,000   $14.51 
Ordinary Shares  7/9/2021   1,000   $13.97 
Ordinary Shares  7/20/2021   15,000   $12.68 
Ordinary Shares  7/30/2021   15,000   $12.87 
Ordinary Shares  8/10/2021   10,000   $11.27 
Ordinary Shares  8/19/2021   10,000   $10.50 
Ordinary Shares  8/25/2021   11,000   $11.30 
       580,146      

 

   

CUSIP No. G6375RI07

13DPage 11 of 11

 

SCHEDULE C

 

Class of Security  Date of Sale  Shares Sold   Average Price Per Share Sold ($) 
Ordinary Shares  10/30/2020   1,300    7.6 
Ordinary Shares  11/17/2020   20,000    7.7 
Ordinary Shares  11/19/2020   20    8.3 
Ordinary Shares  11/24/2020   33,210    8.9 
Ordinary Shares  I/12/2021   4,488    10.5 
Ordinary Shares  1/14/2021   60,000    10.4 
Ordinary Shares  1/21/2021   15,000    9.993 
Ordinary Shares  1/27/2021   10,000    9.902 
Ordinary Shares  2/1/2021   4,700    11.18 
       148,718