Closes Private Placement of Convertible Preferred Units
- 23 авг. 2016 г.
- 1 мин. чтения

Emerge Energy Services LP Closes Private Placement of Convertible Preferred Units
Southlake, Texas - August 16, 2016 - Emerge Energy Services LP (NYSE: EMES) (the "Partnership") today announced that its private placement of $20.0 million of a new class of its limited partner interests (the "Series A Preferred Units") to an institutional investor has closed. The Series A Preferred Units, which are initially convertible into approximately 1.97 million common units representing limited partner interests of the Partnership at the option of the holder or upon certain events, were issued together with warrants to purchase approximately 890,000 common units at an exercise price of $10.82 per common unit. The Partnership expects to use the net proceeds from the private placement to repay indebtedness and for general partnership purchases. J.P. Morgan Securities LLC served as sole placement agent in connection with the private placement.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.



















Комментарии