Enservco Corp Files S-1 with SEC
Sentiment: neutral
Topics: sec-filing, s-1, registration-statement
TL;DR
Enservco Corp just filed an S-1, signaling a potential stock offering.
AI Summary
Enservco Corporation filed an S-1 registration statement on June 28, 2024, with the SEC. The company, formerly known as Aspen Exploration Corp, is incorporated in Delaware and operates in the Oil, Gas Field Services sector. Its principal executive offices are located at 14133 County Road 9 1/2, Longmont, CO 80504.
Why It Matters
This S-1 filing indicates Enservco Corporation is preparing to offer new securities, which could impact its capital structure and future operations.
Risk Assessment
Risk Level: medium — S-1 filings often precede significant corporate actions like stock offerings, which carry inherent market and financial risks.
Key Numbers
- 333-280602 — SEC File Number (Identifies the specific SEC filing for Enservco Corp.)
- 84-0811316 — IRS Number (Enservco Corporation's Employer Identification Number.)
Key Players & Entities
- Enservco Corporation (company) — Registrant
- Aspen Exploration Corp (company) — Former company name
- Delaware (location) — State of Incorporation
- 14133 County Road 9 1/2, Longmont, CO 80504 (address) — Principal Executive Offices
- Richard A. Murphy (person) — Principal Executive Officer
- Douglas T. Holod (person) — Legal Counsel
- Maslon LLP (company) — Legal Firm
FAQ
What is the purpose of this S-1 filing for Enservco Corporation?
The S-1 filing is a registration statement required by the SEC when a company plans to offer new securities to the public.
When was Enservco Corporation formerly known as?
Enservco Corporation was formerly known as Aspen Exploration Corp, with a name change date of July 3, 1992.
Where are Enservco Corporation's principal executive offices located?
The principal executive offices of Enservco Corporation are located at 14133 County Road 9 1/2, Longmont, CO 80504.
Who is the Principal Executive Officer of Enservco Corporation?
Richard A. Murphy is listed as the Principal Executive Officer of Enservco Corporation.
What is the Standard Industrial Classification (SIC) code for Enservco Corporation?
Enservco Corporation's SIC code is 1389, categorized under OIL, GAS FIELD SERVICES, NBC.
Filing Stats: 4,575 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-06-28 17:23:06
Key Financial Figures
- $0.005 — 0,000 shares of Common Stock, par value $0.005 per share (the "Common Stock"), that ha
- $10.0 million — ng Securityholder. We may receive up to $10.0 million in aggregate gross proceeds from Keysto
- $0.215 — ck as reported on the NYSE American was $0.215 per share. Investing in our Common Sto
- $5,000,000 — sed logistics company ("Buckshot"), for $5,000,000 (the "Base Amount"), subject to a net w
- $500,000 — working capital adjustment, plus up to $500,000, in the form of our Common Stock, conti
- $3,750,000 — Agreement. The Base Amount consists of $3,750,000 in cash and $1,250,000 in shares of our
- $1,250,000 — ount consists of $3,750,000 in cash and $1,250,000 in shares of our Common Stock based on
- $0.10 — ommon Stock is equal to or greater than $0.10 (the "Purchase Date"), the Company may
Filing Documents
- ensv20240628_s1.htm (S-1) — 334KB
- ex_694039.htm (EX-5.01) — 11KB
- ex_694038.htm (EX-23.01) — 3KB
- ex_694040.htm (EX-FILING FEES) — 22KB
- e01.jpg (GRAPHIC) — 3KB
- e02.jpg (GRAPHIC) — 5KB
- e03.jpg (GRAPHIC) — 2KB
- e04.jpg (GRAPHIC) — 7KB
- ensv01.jpg (GRAPHIC) — 15KB
- 0001437749-24-021597.txt ( ) — 416KB
RISK FACTORS
RISK FACTORS 6 KEYSTONE EQUITY FINANCING 10
USE OF PROCEEDS
USE OF PROCEEDS 14 DETERMINATION OF OFFERING PRICE 15 DIVIDEND POLICY 15
DESCRIPTION OF CAPITAL STOCK
DESCRIPTION OF CAPITAL STOCK 15 SELLING STOCKHOLDER 17 PLAN OF DISTRIBUTION 19 LEGAL MATTERS 21 EXPERTS 21 INCORPORATION OF CERTAIN INFORMATION BY REFERENCE 21 WHERE YOU CAN FIND MORE INFORMATION 22 i Table of Contents ABOUT THIS PROSPECTUS The registration statement on Form S-1 of which this prospectus forms a part and that we have filed with the U.S. Securities and Exchange Commission (the "SEC"), includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with the additional information described under the heading " Where You Can Find More Information ." You should rely only on the information contained in this prospectus and the related exhibits, any prospectus supplement or amendment thereto, or to which we have referred you, before making your investment decision. Neither we, nor the selling stockholder named herein (the "Selling Stockholder"), nor any financial advisor engaged by us or the Selling Stockholder in connection with this offering, have authorized anyone to provide you with additional information or information different from that contained in this prospectus. Neither the delivery of this prospectus nor the sale of our securities means that the information contained in this prospectus is correct after the date of this prospectus. You should not assume that the information contained in this prospectus, any prospectus supplement or amendments thereto, as well as information we have previously filed with the SEC, is accurate as of any date other than the date on the front cover of the applicable document. Our business, financial condition, results of operations and prospects may have changed since those dates. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The Selling Stockholder is not offering to sel
Forward-looking statements include, but are not limited to, statements about
Forward-looking statements include, but are not limited to, statements about: Our ability to obtain equity financing that, when combined with conversion of certain convertible notes and equity issuances, is sufficient to maintain our listing on the NYSE American exchange; Our ability to close on the pending Buckshot Trucking LLC acquisition and our related ability to increasingly transition to a logistics business; Our ability to obtain working capital on a timely basis in order to accommodate our business demands; Our capital requirements and uncertainty of obtaining additional funding, whether equity or debt, on terms acceptable to us; Constraints on us as a result of our indebtedness, including restrictions imposed on us under the terms of our Utica Equipment Financing agreement and our ability to generate sufficient cash flows to repay our debt obligations and other payables; Excessive fluctuations in the prices for crude oil and natural gas and uncertainties in global crude markets which could likely result in exploration and production companies cutting back their capital expenditures for oil and gas well drilling which in turn would result in significantly reduced demand for our drilling completion services, thereby negatively affecting our revenues and results of operations; Competition for the services we provide in our areas of operations, which has increased significantly due to the recent increases in prices for crude oil and natural gas; Our ability to implement price increases to maintain or improve operating margins, which are dependent upon market and other factors beyond our control including the increased cost of labor, services, supplies, and materials due to persistent inflation; iii Table of Contents Further interest rate increases could increase the cost of our variable rate indebtedness; Weather and environmental conditions, including the potential of abnormally warm winters in our areas of operations that adversely impact demand