Energy Services of America Sells 1.74M Shares at $11.50 to Raise $20M
Energy Services of America priced an underwritten public offering of 1,740,000 common shares at $11.50 each, raising $20.0 million with an option for 261,000 additional shares. The company plans to use net proceeds for general corporate purposes, working capital and potential acquisitions, with closing expected February 20, 2026.
1. Offering Structure
Energy Services of America announced an underwritten public offering of 1,740,000 common shares at $11.50 per share, generating gross proceeds of $20.0 million. The company granted the underwriter a 30-day option to purchase an additional 261,000 shares, potentially increasing gross proceeds to $23.0 million.
2. Use of Proceeds
The net proceeds from the offering will be allocated toward general corporate purposes, bolstering working capital and funding potential acquisitions. The company currently has no specific acquisition targets identified.
3. Closing and Underwriter Option
The offering is expected to close on February 20, 2026, subject to customary closing conditions. Lake Street Capital Markets is serving as sole underwriter and may exercise its option within 30 days.