Energy Services of America plans public offering of common stock

Energy Services of America Corporation (NASDAQ: ESOA) announced its intention to offer and sell shares of common stock in an underwritten public offering, according to a company statement.

The Huntington, West Virginia-based contractor plans to grant the underwriter a 30-day option to purchase additional shares up to 15% of the number of shares sold in the offering. The company stated the offering is subject to market and other conditions, with no assurance regarding completion, timing, size or terms.

Energy Services intends to use net proceeds for general corporate purposes, working capital and potential acquisitions. The company noted it has no current plans, arrangements or understandings for any specific acquisition or similar transaction.

Lake Street Capital Markets, LLC will serve as the sole underwriter for the offering.

The company has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission and a preliminary prospectus supplement for the offering. Energy Services operates primarily in the mid-Atlantic and Central United States, providing services to customers in natural gas, petroleum, water distribution, automotive, chemical and power industries. The company employs more than 1,500 people.

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