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13D Filing: Fir Tree and Eco-Stim Energy Solutions Inc. (ESES)

Published on August 8, 2017 at 1:59 pm by Insider Monkey Staff in Hedge Funds
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Page 3 of 6 – SEC Filing

This Amendment No. 3 (“Amendment No. 3“) amends the statement on Schedule 13D filed with the Securities and Exchange Commission (the “SEC“) on March 16, 2017 (the “Original Schedule 13D“) as amended by Amendment No. 1 filed with the SEC on June 19, 2017 (“Amendment No. 1“), and as amended by Amendment No. 2 filed with the SEC on July 7, 2017 (“Amendment No. 2” and together with the Original Schedule 13D, Amendment No. 1 and this Amendment No. 3, the “Schedule 13D“) with respect to the common stock, $0.001 par value (the “Common Stock“), of Eco-Stim Energy Solutions, Inc., a Nevada corporation (the “Issuer“).  Capitalized terms used herein and not otherwise defined in this Amendment No. 3 have the meanings set forth in the Schedule 13D.  This Amendment No. 3 amends Items 3, 4, 5 and 7 as set forth below.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 of the Schedule 13D is hereby amended and restated, as follows:
The Reporting Person used
a total of $29,060,205.33 to acquire 20,486,492 shares of Common Stock reported in this Schedule 13D. The source of the funds
used to acquire the shares of Common Stock reported herein is the working capital of certain Fir Tree Funds.
The Reporting Person acquired an additional 29,538,786 shares of Common Stock upon conversion of the Notes. The Reporting Person used a total of $41,354,301.37 to acquire the Notes. The source of the funds used to acquire the Notes was the working capital of a Fir Tree Fund.

 

Item 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:
On August 2, 2017, the Issuer entered into a Common Stock Subscription Agreement (the “Subscription Agreement“) with (i) certain Fir Tree Funds and pursuant to which such Fir Tree Funds agreed to purchase an aggregate of 9,456,056 shares of Common Stock, at a price of $1.43 per share, and (ii) certain other purchasers identified on the signature pages thereto (the “Purchasers“) pursuant to which such other Purchasers agreed to purchase an aggregate of 10,124,364 shares of Common Stock at a price of $1.43 per share (collectively, the “August 2017 Private Placement“).  The August 2017 Private Placement is anticipated to close on August 8, 2017 (the “PIPE Closing Date“), subject to customary closing conditions.

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