FORT WAYNE, Ind., Feb. 19, 2021 /PRNewswire/ -- Nesco Holdings,
Inc. (NYSE: NSCO, "Nesco" or the "Company") announced today that,
at its special meeting of shareholders, held yesterday,
shareholders approved and adopted the NYSE Proposal and each of the
Charter Proposals (as such terms are defined in Nesco's definitive
proxy statement filed with the U.S. Securities and Exchange
Commission on January 20, 2021). The
final vote results, as certified by the independent Inspector of
Election, will be filed on a Form 8-K with the U.S. Securities
and Exchange Commission.
Subject to customary closing conditions, the closing of the
transactions described in the definitive proxy statement, including
the acquisition of Custom Truck One Source, is expected to occur in
the first quarter of 2021.
About Nesco
Nesco is one of the largest providers of specialty equipment,
parts, tools, accessories and services to infrastructure resources
such as the electric utility transmission and distribution,
telecommunications and rail markets in North America. Nesco offers its specialized
equipment to a diverse customer base for the maintenance, repair,
upgrade and installation of critical infrastructure assets
including electric lines, telecommunications networks and rail
systems. Nesco's coast-to-coast rental fleet of more than 4,500
units includes aerial devices, boom trucks, cranes, digger
derricks, pressure drills, stringing gear, hi-rail equipment,
repair parts, tools and accessories. For more information, please
visit investors.nescospecialty.com.
Forward-Looking Statements
Certain statements contained in this communication may be
considered forward-looking statements within the meaning of U.S.
securities laws, including section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding the
proposed transaction and the ability to consummate the proposed
transaction. When used in this communication, the words
"potential," "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose" and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Nesco's control, that could
cause actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include:
the ability to consummate the acquisition of Custom Truck One
Source and to integrate the acquisition into the Nesco business;
the ability to consummate the private placement; failure to obtain
necessary regulatory approvals or to satisfy any of the other
conditions related to the acquisition of Custom Truck One Source;
the ability to realize expected synergies and the timing for any
such realization; projected financial results for Nesco and Custom
Truck One Source, including on a combined basis; potential
litigation associated with the acquisition of Custom Truck One
Source; the potential impact of the acquisition of Custom Truck One
Source on Nesco's or Custom Truck One Source's relationships,
including with suppliers, customers, employees and regulators; the
impact of the COVID-19 pandemic on Nesco's or Custom Truck One
Source's business operations, as well as the overall economy;
Nesco's ability to execute on its plans to develop and market new
products and the timing of these development programs; Nesco's
estimates of the size of the markets for its solutions; the rate
and degree of market acceptance of Nesco's solutions; the success
of other competing technologies that may become available; Nesco's
ability to identify and integrate acquisitions; the performance and
security of Nesco's products and services; potential litigation
involving Nesco; and general economic and market conditions
impacting demand for Nesco's services. For a more complete
description of these and other possible risks and uncertainties,
please refer to Nesco's annual report on form 10-K filed with the
securities and exchange commission on March
13, 2020 and quarterly report on form 10-Q filed with the
securities and exchange commission on May 7,
2020, as well as to Nesco's subsequent filings with the SEC.
Should one or more of these material risks occur, or should the
underlying assumptions change or prove incorrect, Nesco's actual
results, performance, achievements or plans could differ materially
from those expressed or implied in any forward-looking statement.
The forward-looking statements contained herein speak only as of
the date hereof, and Nesco undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
NESCO INVESTOR CONTACT
Josh Boone, CFO
(800)
252-0043
investors@nescospecialty.com
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SOURCE Nesco Holdings, Inc.