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Filing Details

Accession Number:: 0000899243-21-027743
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-07-07 09:50:08
Reporting Period:: 2021-06-30

Accepted Time:: 2021-07-07 09:50:08
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1670349	U.s. Well Services Inc.	USWS	()	4

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1641792	H. Dan Wilks	17018 Interstate 20 Cisco TX 76437	No	No	Yes	No
1641796	Staci Wilks	17018 Interstate 20 Cisco TX 76437	No	No	Yes	No
1754159	Thrc Holdings, Lp	17018 Interstate 20 Cisco TX 76437	No	No	Yes	No
1834450	Thrc Management, Llc	17018 Interstate 20 Cisco TX 76437	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2021-06-30	200,909	$1.00	200,909	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	16.0% Convertible Senior Secured PIK	Disposition	2021-07-01	0	$0.00	12,755,102	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2021-06-24		No	4	S	Direct

Footnotes

THRC Holdings LP ("Holdings"), a Texas limited partnership, directly holds the securities of the Issuer. THRC Management, LLC ("Management") a Texas limited liability company, as General Partner of Holdings, has exclusive voting and investment power over the shares of Issuer's Common Stock held by Holdings, and therefore, may be deemed to beneficially own such shares. Dan H. Wilks, as sole Manager of Management, together with his spouse, Staci Wilks, who share the same household, may be deemed to exercise voting and investment power over the securities directly owned by Holdings, and therefore, may be deemed to beneficially own such shares. Each Reporting Person disclaims beneficial ownership of all equity securities reported herein except to the extent of its respective pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any equity securities covered by this Form 4.
As reported on the Form 3 previously filed by the Reporting Persons, Holdings purchased an aggregate of $25,000,000 in principal amount of 16.0% Convertible Senior Secured (Third Lien) PIK Notes of the Issuer (the "Notes"), that are convertible into shares of Class A Common Stock, pursuant to the Note Purchase Agreement, dated June 24, 2021, by and among the Issuer, Holdings and the other purchasers party thereto (the "Note Purchase Agreement"). The Notes are convertible by Holdings at any time prior to the payment in full of all outstanding principle and interest due under the Notes.
All or any portion of the Notes may be converted at the election of the holder thereof at any time into a number of shares 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.
This number represents the number of shares of Class A Common Stock issuable upon conversion of the Notes if the holder thereof elects to convert the Notes based on the principal amount of the Notes and the conversion price applicable to the Notes.