Eco-Stim Energy Solutions, Inc.’s $22 Million Refinancing transaction


Vinson & Elkins, Baker McKenzie, Stroock & Stroock & Lavan, Marval, O’Farrell & Mairal, Norton Rose Fulbright and Alliani & Bruzzon have advised on the transaction

Eco-Stim Energy Solutions, Inc. Entered into a transaction with an affiliate of Fir Tree Partners (“FTP”) pursuant to which FTP purchased from Albright Capital Management LLC (“ACM”) $22 million aggregate principal amount of the Company’s outstanding convertible notes, which were due in 2018. This transaction was part of a comprehensive recapitalization designed to create a path to a potential equitization of substantially all of the Company’s debt, subject to shareholder approval. As part of the transaction, the Company issued to FTP an additional $19 million aggregate principal amount of convertible notes. After giving effect to these transactions, the Company now has approximately $41 million of outstanding convertible notes. FTP has agreed to convert all of the outstanding convertible notes into common stock at a conversion price of $1.40 per share, subject to receipt of shareholder approval and satisfaction of certain other conditions. Assuming all of the outstanding convertible notes are converted into common stock, on a pro-forma basis, the Company would issue approximately 29 million shares to FTP and would then have approximately 44 million shares outstanding and no outstanding debt.

Vinson & Elkins has advised Eco-Stim Energy Solutions, Inc. with W. Matt Strock (Picture), Brian Moss, Brett Riesenfeld, James Longhofer and Caitlin Lawrence.

Baker McKenzie has advised Eco-Stim Energy Solutions, Inc. with Roberto Grané, Ezequiel Artola and Sebastián Paz Menéndez.

Stroock & Stroock & Lavan LLP has advised Fir Tree Partners with Luke Charleston, Brian Rogers and Scott Handwerker.

Marval, O’Farrell & Mairal has advised Fir Tree Partners with Juan M. Diehl Moreno, Diego A. Chighizola, Francisco Abeal and Pamela Tischelman.

Norton Rose Fulbright has advised Albright Capital Management LLC with William Stelwagon.

Alliani & Bruzzon has advised Albright Capital Management LLC with Alejandro D’Onofrio.

Involved fees earner: Juan Diehl Moreno – Marval, O’Farrell & Mairal; Pamela Natasha Tischelman – Marval, O’Farrell & Mairal; Diego Chighizola – Marval, O’Farrell & Mairal; Francisco Abeal – Marval, O’Farrell & Mairal; Lucas Charleston – Stroock & Stroock & Lavan; Brian Rogers – Stroock & Stroock & Lavan; Scott Handwerker – Stroock & Stroock & Lavan; Matthew Strock – Vinson & Elkins LLP; Brett Riesenfeld – Vinson & Elkins LLP; Brian Moss – Vinson & Elkins LLP; James Longhofer – Vinson & Elkins LLP; Roberto Grané – Baker & McKenzie; Ezequiel Artola – Baker & McKenzie;

Law Firms: Marval, O’Farrell & Mairal; Stroock & Stroock & Lavan; Vinson & Elkins LLP; Baker & McKenzie;

Clients: Fir Tree Partners; Eco-Stim Energy Solutions Inc.;

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Author: Ambrogio Visconti