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Emerge Energy Services (EMES) Enters $20M Series A Preferred Units Sales Agreement

Go back to Emerge Energy Services (EMES) Enters $20M Series A Preferred Units Sales Agreement

Emerge Energy Services L.P. Agrees to Sell $20 Million of Convertible Preferred Units

August 8, 2016 7:04 AM EDT

Southlake, Texas - August 8, 2016 - Emerge Energy Services L.P. (NYSE: EMES) (the "Partnership") today announced that it has entered into an agreement with an institutional investor to sell $20.0 million of a new class of its limited partner interests (the "Series A Preferred Units") in a private placement. The Series A Preferred Units, which will initially be 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, will be issued together with warrants to purchase... More