Select Water Solutions, Inc. — Capital/Financing Update 2021

Dec 3, 2021

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): December 3, 2021

SELECT ENERGY SERVICES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-38066	81-4561945
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1233 West Loop South , Suite 1400

Houston , TX 77027

(Address of Principal Executive Offices)

( 713 ) 235-9500

(Registrant’s Telephone Number, including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

| Title
of each class | Ticker
symbol(s) | Name
of each exchange on which registered |
| --- | --- | --- |
| Class
A common stock, $0.01 par value | WTTR | New York Stock Exchange |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

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Item 3.02 Unregistered Sales of Equity Securities.

On December 3, 2021, Peak Oilfield Services, LLC (“Peak”), an indirect wholly-owned subsidiary of Select Energy Services, Inc. (the “Company”), completed the acquisition of certain assets of H.B. Rentals, L.C. ( “H.B. Rentals”), an indirect wholly-owned subsidiary of Superior Energy Services, Inc. (“Superior”), related to the provision of accommodations and related services to the U.S. onshore oil and gas industry, for consideration of 1,211,375 shares of the Company’s Class A common stock, par value $0.01 per share, which were issued to SESI, L.L.C., a subsidiary of Superior, and approximately $1.5 million in cash, subject to standard post-closing adjustments.

The shares were issued in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), provided by Section 4(a)(2) of the Securities Act as sales by an issuer not involving any public offering. The Company’s reliance upon Section 4(a)(2) of the Securities Act was based upon the following factors: (a) the issuance of the shares was an isolated private transaction by the Company which did not involve a public offering, (b) there was only one recipient and (c) representations from H.B. Rentals to support such exemption, including with respect to H.B. Rentals’ status as an “accredited investor” (as that term is defined in Rule 501(a) of Regulation D promulgated under Section 4(a)(2) of the Securities Act).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: December 3, 2021

SELECT ENERGY SERVICES, INC.
By:	/s/ Adam R. Law
	Adam R. Law
	Senior Vice President, General Counsel, Corporate
Secretary & Chief Compliance Officer

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