Eco-Stim Energy Solutions, Inc. (ticker: ESES) said that it has entered into an agreement for a private placement of its common stock with new institutional investors and two existing stockholders. It is anticipated that the transaction will close on August 8, 2017, subject to satisfaction of customary closing conditions.
As part of the offering, the Company will issue an aggregate of 19,580,420 shares of its common stock for $1.43 per share, which was the closing market price on August 1, 2017. The gross proceeds from this private placement are estimated to be $28 million. Eco-Stim intends to use the net proceeds from the offering to finance capital expenditures to support its most recent customer contract, for working capital and for other general corporate purposes.
Eco-Stim Energy Solutions is presenting at EnerCom’s The Oil & Gas Conference® 22
Eco-Stim will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
