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LOS ANGELES, Aug. 09, 2017 -- FBR Capital Markets & Co. (“FBR”), a leading full service investment bank and wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), acted as the lead-left placement agent to Eco-Stim Energy Solutions (NASDAQ:ESES) in ESES’s private placement of its common stock.
ESES issued 19,580,420 shares of its common stock for $1.43 per share, which was the closing market price on August 1, 2017, resulting in gross proceeds of $28 million. The transaction closed on August 8, 2017.
About Eco-Stim Energy Solutions, Inc.
Eco-Stim is an environmentally focused oilfield service and technology company providing well stimulation and completion services and field management technologies to oil and gas producers. EcoStim's methodology and technology offers the potential in high cost regions to decrease the number of stages stimulated in shale plays through a process that predicts high probability production zones while confirming those production zones using the latest generation down-hole diagnostic tools. In addition, EcoStim offers its clients completion techniques that can dramatically reduce horsepower requirements, emissions and surface footprint. EcoStim seeks to deliver well completion services with better technology, better ecology and significantly improved economics for unconventional oil and gas producers worldwide.
About FBR Capital Markets & Co.
FBR Capital Markets & Co., LLC provides investment banking, M&A advisory, institutional brokerage and research services with focused capital and financial expertise in consumer, energy and natural resources, financial institutions, healthcare, insurance, industrials, real estate, technology, media and telecom industries.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC, FBR Capital Markets & Co., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
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