MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • June 28th, 2024 • Enservco Corp • Oil & gas field services, nec • Colorado
This Membership Interest Purchase Agreement (this “Agreement”), dated as of March 19, 2024, is entered into between Buckshot Trucking, LLC a Wyoming limited liability company (the “Company”), Tony Sims, an individual resident of the state of Colorado, Jim Fate, an individual resident of the state of Colorado (each of the foregoing a “Seller”, together the “Sellers), and Enservco Corporation, a Delaware corporation (“Buyer”). Capitalized terms used in this Agreement have the meanings given to such terms herein.
ENSERVCO CORPORATIONForma Condensed Combined Financial Statements • June 28th, 2024 • Enservco Corp • Oil & gas field services, nec
On March 19, 2024, Enservco Corporation (“Enservco”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Tony Sims, an individual resident of Colorado; Jim Fate, an individual resident of Colorado (together the “Sellers”), and Buckshot Trucking LLC, a Wyoming limited liability company (“Buckshot Trucking”), pursuant to which Enservco agreed to acquire from the Sellers all of the issued and outstanding membership interests of Buckshot Trucking (the “Acquisition”) for $5,000,000 (the “Base Amount”), subject to a net working capital adjustment, plus up to $500,000, in the form of Enservco common stock, contingent upon satisfaction of certain conditions set forth in the Purchase Agreement. The Base Amount consists of $3,750,000 in cash and $1,250,000 in shares of Enservco common stock based on the volume-weighted average trading price of Enservco common stock for the 10-day period immediately preceding the closing date.
