|
Back to Home » March 2017 News » EcoStim Completes Recapitalization with Fir Tree Partners; Secures $17 million in New Funding Positioning the Company for Growth and a Debt Free Balance Sheet |
EcoStim Completes Recapitalization with Fir Tree Partners; Secures $17 million in New Funding Positioning the Company for Growth and a Debt Free Balance Sheet |
March 07, 2017
HOUSTON, TX and NEUQUEN CITY, ARGENTINA--(Marketwired - Mar 6, 2017) - Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the "Company") announced today that an affiliate of Fir Tree Partners ("FTP") entered into a transaction with an affiliate of Albright Capital Management LLC ("ACM") pursuant to which FTP has purchased from ACM $22 million aggregate principal amount of the Company's outstanding 14% convertible notes due 2018 and approximately two million shares of the Company's outstanding common stock. This transaction is part of a comprehensive recapitalization designed to position the Company to capitalize on attractive growth prospects and create a path to a potential equitization of substantially all of the Company's debt, subject to shareholder approval.
Source URL: http://www.marketwired.com/mw/release.do?id=2200921&sourceType=3
|
|
|
|
