Bookrunners FBR, Roth Capital Partners, Seaport Global will assist
By Toni Weeks
San Luis Obispo, Calif., July 13 – Eco-Stim Energy Solutions Inc. will raise up to $26.13 million in a public offering of common stock. The deal has a $3.87 million 30-day greenshoe, according to a 424B4 filing with the Securities and Exchange Commission.
The company is selling 5.5 million shares at $4.75 each, a 0.63% discount to the closing share price of $4.78 on July 10.
FBR Capital Markets & Co., Roth Capital Partners, LLC and Seaport Global Securities LLC are the bookrunners.
Proceeds will be used to finance capital expenditures related to the company’s turbine-powered pressure pumping units (TPUs), for complementary equipment needed to put the TPUs into operation and for the final payments on its second conventional pressure pumping fleet. Proceeds will also be used for working capital and general corporate purposes, which may include the purchase and maintenance of existing equipment, retirement of debt and inventory purchases.
The oilfield services company is based in Houston.
| Issuer: | Eco-Stim Energy Solutions Inc.
|
| Issue: | Common stock
|
| Amount: | $26,125,000
|
| Greenshoe: | $3,874,998, or 815,789 shares
|
| Shares: | 5.5 million
|
| Price: | $4.75
|
| Warrants: | No
|
| Bookrunners: | FBR Capital Markets & Co., Roth Capital Partners, LLC and Seaport Global Securities LLC
|
| Announcement date: | May 29
|
| Pricing date: | July 13
|
| Settlement date: | July 15
|
| Stock symbol: | OTCBB: ESES
|
| Stock price: | $4.78 at close July 10
|
| Market capitalization: | $32.48 million
|
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