Nuverra Environmental Solutions, Inc. (OTCMKTS:NESC) Files An 8-K Other EventsItem 8.01OTHER EVENTS
On December 10, 2018, Nuverra Environmental Solutions, Inc. (the “Company”) issued a press release announcing the commencement of the Company's previously announced rights offering. to the rights offering, the Company is distributing to its holders of common stock as of 5:00 p.m. New York City time on December 10, 2018 (the “Record Date”), subscriptions rights to purchase up to 3,381,894 shares of common stock of the Company (the “Rights Offering”). The price at which shares of common stock can be acquired in the Rights Offering is $9.61 per share and the aggregate proceeds from the Rights Offering will be approximately $32,500,000. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The Registration Statement on Form S-1 respecting the Rights Offering was declared effective by the Securities and Exchange Commission on Friday, December 7, 2018. The Rights Offering will launch at the close of business on December 10, 2018 and will terminate, as to unexercised rights, at 5:00 p.m. New York City time on December 28, 2018, unless the Company elects to extend the Rights Offering. Holders who subscribe for all of their basic subscription rights can also elect to subscribe for additional shares to an Over-subscription Privilege. Certain majority stockholders of the Company have agreed to acquire all unsubscribed shares remaining after stockholders have exercised their Over-subscription Privilege.
Shareholders who desire to participate and acquire shares in the Rights Offering should contact their brokers, dealers or other nominee holders of their commons stock.
Item 9.01.FINANCIAL STATEMENTS AND EXHIBITS.
(d)Exhibits
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Exhibit Number |
Description |
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99.1 |
Press Release, dated December 10, 2018 |
EXHIBIT INDEX
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Exhibit Number |
Description |
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99.1 |
Press Release, dated December 10, 2018
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Nuverra Environmental Solutions, Inc. ExhibitEX-99.1 2 ex991-nuverrarightsofferin.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NUVERRA ANNOUNCES COMMENCEMENT OF RIGHTS OFFERINGSCOTTSDALE,…To view the full exhibit click here
About Nuverra Environmental Solutions, Inc. (OTCMKTS:NESC)
Nuverra Environmental Solutions, Inc. (Nuverra) provides environmental solutions to customers focused on the development and production of oil and natural gas from shale formations. The Company’s environmental solutions include delivery, collection, treatment, recycling, disposal of water, wastewater, waste fluids, hydrocarbons, and restricted solids that are part of the drilling, completion, and production of shale oil and natural gas. The Company operates through three segments, which include the Northeast division comprising the Marcellus and Utica Shale areas; the Southern division comprising the Haynesville, Eagle Ford and Permian Basin Shale areas, and the Rocky Mountain division comprising the Bakken Shale area. Nuverra operates in select shale areas in the United States, including oil shale areas consisting of the Bakken, Eagle Ford and Permian Shale areas, and natural gas shale areas in Haynesville, Marcellus and Utica.
