Matlin & Partners Acquisition Corporation ("MPAC") and U.S. Well Services, LLC ("USWS"') announced entry into a merger and contribution agreement whereby USWS will combine with MPAC to become a publicly listed company with an anticipated initial total enterprise value of approximately $588 million. The combined company will be led by USWS' current Chief Executive Officer, Joel Broussard. In addition, upon completion of the combination, the USWS management team, which will become the combined company's management team, will be expanded with the addition of Kyle O'Neill as Chief Financial Officer. Mr. O'Neill will join USWS from TCW where he serves as a Managing Director in the Direct Lending Group. Mr. O'Neill brings more than 18 years of direct investing and capital markets experience. Matt Bernard, who currently serves as Chief Financial Officer of USWS, will become Chief Administrative Officer, and Nathan Houston will continue to serve as Chief Operating Officer. Upon completion of the proposed business combination, the combined company's board of directors will consist of seven members, including Mr. Broussard, as well as two members from MPAC, two members from USWS and two members from Crestview. The combination is expected to be completed in the fourth quarter of 2018.