US Well Services Inc (NASDAQ: USWS) Announces Its Plan To Purchase 120 Electric Motors And Foley Trasimene Acquisition Corp

US Well Services Inc (NASDAQ: USWS) and Foley Trasimene Acquisition Corp are in the news for different reasons. Recently, Foley Trasimene Acquisition Corp organized a special meeting of stockholders. At the respective meeting, stockholders voted in favor of the Business Combination Agreement for Foley Trasimene’s proposed business collaboration in partnership with Alight Solutions. It is also learned that all other stockholder proposals in connection with the Business Combination are subsequently approved. 

Stockholders were given enough time to have their shares redeemed

Sources familiar with the development share that Foley Trasimene Acquisition Corp had set a deadline for stockholders, giving them enough time to withdraw any election to have their shares redeemed in connection with the Business Combination. The company announced that stockholders interested in withdrawing a redemption request could get in touch with FTAC’s transfer agent, Continental Stock Transfer & Trust Company, by email. 

US Well Services Inc (NASDAQ: USWS) to purchase 60 power cubes

US Well Services Inc (NASDAQ: USWS) is also in the news, post announcing its decision to purchase power cubes. The company made its official decision to buy 60 power cubes from AmeriMex Motor & Controls, LLC, a corporate house that is a subsidiary of Industrial Service Solutions. If all falls in place, the corporate house will start delivering its Power Cubes consignment in 3Q2021. 

“We are proud to be able to provide the state-of-the-art Power Cubes on which U.S. Well Services’ Clean Fleet® Technology relies,” said Wade Stockstill, CEO of Industrial Service Solutions. “We look forward to continuing our long-term partnership with U.S. Well Services and working with their team to develop patented technology that is revolutionizing the industry through better performance and reduced emissions.”

“U.S. Well Services is pleased to continue our long-standing partnership with AmeriMex as we build and deploy the next generation of Clean Fleet® technology,” commented Joel Broussard, the Company’s President, and CEO. “We have used AmeriMex electric motors on our Clean Fleets since we deployed the industry’s first all-electric fracturing fleet in 2014. These Power Cubes represent innovative technology that enables us to maintain our competitive advantage and continue to deliver best-in-class results for our customers.”

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