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NEWS
Enservco Transforms Business With Close of Buckshot Acquisition and Share Exchange With Star Equity Holdings
Enservco (NYSE American: ENSV) has announced the closing of its acquisition of Buckshot Trucking and a strategic partnership with Star Equity Holdings. The Buckshot Transaction, valued at $5 million, transforms Enservco by entering the energy logistics business with an immediately accretive acquisition. The Star Transaction includes a $2.5 million equity exchange and a $1 million short-term promissory note.
Key highlights include:
Diversification into year-round energy logistics services
Improved financial strength and visibility
Strategic alignment with Star Equity Holdings
Addition of Star CEO Rick Coleman to Enservco's Board
Potential for future growth and expansion
Enservco also provided an update on its plan to regain compliance with NYSE American listing standards and announced the timing of its Q2 2024 earnings release and conference call.
Key highlights include:
Diversification into year-round energy logistics services
Improved financial strength and visibility
Strategic alignment with Star Equity Holdings
Addition of Star CEO Rick Coleman to Enservco's Board
Potential for future growth and expansion
Enservco also provided an update on its plan to regain compliance with NYSE American listing standards and announced the timing of its Q2 2024 earnings release and conference call.
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