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Enservco ( NYSE: ENSV ) priced its best efforts public offering of 7M shares along with common warrants at a combined public offering price of $0.50/share and accompanying warrant.
The common warrants will have an exercise price of $0.55/share will be exercisable immediately post issuance date and five years from issuance date.
Gross proceeds are estimated at ~$3.5M; net proceeds to be used for general corporate purposes, which may include repayment of debt and potential acquisitions.
Offer is expected to close on or about Feb.27, 2023.