ECO-STIM ENERGY SOLUTIONS, INC. (NASDAQ:ESES) Files An 8-K Other EventsItem 8.01. Other Events.
As previously disclosed, on March 29, 2018, Eco-Stim Energy Solutions, Inc. (the “Company”) entered into a Securities Purchase Agreement with its majority shareholder and other funds, all of which are under management by Fir Tree Partners (collectively, “Fir Tree”), to which Fir Tree agreed to purchase 10,000 shares of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Preferred”), at a price of $1,000 per share. An initial closing was conducted on April 2, 2018, providing for the Company’s sale and issuance of 10,000 shares of Series A Preferred, providing $10.0 million of gross proceeds to the Company.
About ECO-STIM ENERGY SOLUTIONS, INC. (NASDAQ:ESES)
Eco-Stim Energy Solutions, Inc. is an oilfield services company. The Company provides well stimulation, coiled tubing and field management services to the upstream oil and gas industry. The Company focuses on the active shale and unconventional oil and natural gas basins outside the United States and it has commenced operations in Argentina. The Company operates well stimulation fleets, coiled tubing units and other downhole completion equipment, as well as provides sweet spot analysis in shale resource basins using geophysical predictive modeling combined with real-time feedback from down-hole diagnostic tools. The Company offers a pumping fleet, including well-stimulation pumps, nitrogen pumping units and cranes, in both trailer-mounted and skid-mounted configurations. It provides a range of pressure-pumping services, including work-over pumping, well injection and wireline pump downs.
