Superior Drilling Products, Inc. (NYSEAM:SDPI) announced that it has retained Piper Sandler & Co. as its financial advisor to investigate a range of strategic alternatives with the intent to maximize shareholder value. As part of the process, the Company's Board of Directors will consider a full range of strategic alternatives, including sales, acquisitions, mergers, divestiture of assets, or other strategic transactions.

There can be no assurance that any offers will be made or accepted, that any agreement will be executed, or that any transaction will be consummated, in connection with the strategic alternatives process. The Company has not set a timetable for the conclusion of its review of potential alternatives, and does not intend to make further announcements about the process unless and until the Board has approved a specific transaction or otherwise determines that further disclosure is appropriate or necessary.