Energy Services of America Corporation Announces Extension of Warrant Exchange Offer
Energy Services of America Corporation (NYSE: ESA) today announced the extension of the offering period for its exchange offer for all of its outstanding warrants. The offering period as extended will expire at 5:00 p.m. Eastern Time on August 20, 2011. The tender offer was previously set to expire at 5:00 p.m. Eastern Time on July 20, 2011.
On July 13, 2011, the staff of NYSE—AMEX notified the Company that the staff has interpreted its rules to conclude that the issuance of shares of common stock in exchange for warrants held by officers and directors of the Company would be deemed equity compensation. Based on the staff's interpretation, the issuance of shares of common stock to officers, directors and employees of the Company in connection with the exchange offer would require the consent of the Company's stockholders pursuant to applicable NYSE—AMEX listing rules. The Company is currently considering its options before deciding on a course of action.
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