Enservco Corporation completed the acquisition of Buckshot Trucking LLC from Tony Sims and Jim Fate.
The Transaction is subject to approval by Enservco stockholders. Each party?s obligation to consummate the Acquisition is conditioned upon certain closing conditions, including without limitation: (i) Buckshot Trucking having a trailing twelve ( 12 ) month adjusted EBITDA of at least $2,000,000 as of the closing date; (ii) Buckshot Trucking delivering a closing working capital amount of at least $1,230,000 as of the closing date; (iii) the Information Statement having been mailed to Enservco?s stockholders and at least 20 calendar days elapsing from the date of completion of such mailing; (iv) the performance by the other party of its obligations and covenants under the Buckshot Purchase Agreement; (v) the absence of any decree prohibiting consummation of the closing; and (vi) the delivery of certain closing deliverables by the other party. The Transaction is expected to close in the second quarter of 2024.
As of June 10, 2024, this includes completing the financing for Buckshot Trucking LLC which includes, amongst other terms, the issuance of $1.25 million of equity.
Enservco Corporation (NYSEAM:ENSV) completed the acquisition of Buckshot Trucking LLC from Tony Sims and Jim Fate on June 13, 2024.