Enservco Corp. (ENSV) Announces Pricing of $8.4 Million Public Offering at $2.30/sh

Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced the pricing of its public offering of 3,652,173 shares of common stock at a price to the public of $2.30 per share. Enservco expects to receive gross proceeds of approximately $8.4 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

Enservco has granted the underwriters a 45-day option to purchase up to an additional 547,825 shares of common stock at the public offering price to cover over-allotments, if any. The offering is expected to close on February 11, 2021, subject to customary closing conditions.

Enservco intends to use the net proceeds from this offering for working capital purposes and to reduce debt.

A.G.P./Alliance Global Partners is acting as sole book-running manager for the offering.

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