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BRIEF-Source Energy Services Ltd. announces acquisition of Preferred Sands' Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets
2017年10月17日 / 晚上10点29分 / 1 个月前

BRIEF-Source Energy Services Ltd. announces acquisition of Preferred Sands' Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets

Oct 17 (Reuters) - Source Energy Services Ltd:

* Announces acquisition of Preferred Sands’ Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets as well as $90 million in equity financings

* Consideration for Acquisition includes U.S.$80 million in cash, subject to closing and post-closing adjustments​

* Acquisition is expected to provide significant accretion in cash flow per share in 2018​

* Acquisition is also expected to be immediately accretive, based on key operational metrics​

* Financing deal by $25.1 million public bought deal equity financing, $65 million private placement equity financing, draws on credit facilities​

* Prior to closing of acquisition, co expects to increase its revolver limit under its credit facilities from $35 million to $70 million​

* Approximately $20 million of revolver limit will be utilized to finance acquisition​

* In connection with deal, co ‍entered agreement with underwriters to issue 3 million shares on bought deal basis at $8.35 per share​ Source text for Eikon: Further company coverage:

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