Energy Services of America Corporation Announces Pricing of $20.0 Million Public Offering of Common Stock
MWN-AI** Summary
Energy Services of America Corporation (ESOA), based in Huntington, West Virginia, has announced the pricing of a public offering of 1,740,000 shares of its common stock at $11.50 per share, aiming to raise approximately $20 million, excluding underwriting discounts and expenses. In addition, ESOA has provided the underwriter, Lake Street Capital Markets, with a 30-day option to purchase an additional 261,000 shares, potentially increasing total gross proceeds to around $23 million if fully exercised.
The funds raised will be allocated towards general corporate purposes, including working capital and potential acquisitions, although the company has not disclosed any specific acquisition plans at this time. The offering is anticipated to close by February 20, 2026, contingent on customary closing conditions.
ESOA operates primarily in the mid-Atlantic and Central regions of the United States, providing services across various industries such as natural gas, petroleum, water distribution, chemicals, and power, employing over 1,500 individuals. The company emphasizes its core values of safety, quality, and production.
Roth Capital Partners served as financial advisor for the offering, and the transaction will be executed under an effective shelf registration statement filed with the Securities and Exchange Commission (SEC). Potential investors are encouraged to review the preliminary prospectus and accompanying documents available through the SEC's EDGAR database for detailed information on the offering.
As part of its forward-looking statements, ESOA recognizes that actual outcomes may diverge from the predictions made, due to various economic and operational uncertainties. Investors are advised to be cautious in their reliance on these projections.
MWN-AI** Analysis
Energy Services of America Corporation (ESOA) has announced a public offering of 1,740,000 shares at $11.50 per share, with the potential for an additional 261,000 shares if the underwriter exercises its option. This move is expected to generate approximately $20 million in gross proceeds, with total proceeds potentially reaching $23 million. The funds raised are slated for general corporate purposes and working capital, positioning the company for potential acquisitions, although no specific targets are planned at this time.
Investors should analyze the implications of this offering closely. The stock’s offering price is set at $11.50, which reflects a calculated positioning in relation to market expectations. It’s critical to compare this price to recent stock performance as well as broader market trends in the energy services sector. If the market responds favorably, it may indicate confidence in ESOA's operational strategy and market positioning, fostering further investor interest.
However, investors should tread carefully. The announcement includes forward-looking statements that carry inherent risks and uncertainties. Factors such as commodity pricing, economic conditions, competitive pressures in the energy sector, and overall market stability could adversely impact ESOA's performance. Monitoring these elements closely will be essential in gauging the company’s trajectory post-offering.
For prospective investors, a disciplined approach is recommended. Conduct thorough due diligence by reviewing ESOA’s financial health, historical performance metrics, and future growth potential against the backdrop of current market dynamics. If considering an investment, timing may be crucial—monitoring how the stock performs in the days following the offering can provide insights into market sentiment and potential volatility. Ultimately, aligning one's investment strategy with both ESOA’s developments and broader market conditions will be vital in making informed decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
HUNTINGTON, W.Va., Feb. 19, 2026 /PRNewswire/ -- Energy Services of America Corporation (the "Company"), today announced the pricing of an underwritten public offering of 1,740,000 shares of its common stock at a price to the public of $11.50 per share. The Company also granted the underwriter a 30-day option to purchase up to an additional 261,000 shares of common stock.
The aggregate gross proceeds to the Company from the offering will be approximately $20.0 million before underwriting discounts and commissions and expenses related to the offering. Assuming full exercise by the underwriter of its option to purchase additional shares, the aggregate gross proceeds to the Company from the offering would be approximately $23.0 million before underwriting discounts and commissions and expenses related to the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, working capital and for potential acquisitions. The Company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction. The offering is expected to close on February 20, 2026, subject to customary closing conditions.
Lake Street Capital Markets, LLC is serving as the sole underwriter for the offering.
Roth Capital Partners acted as financial advisor to the Company for the offering.
The Company has filed with the Securities and Exchange Commission (the "SEC") a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-280025) and a preliminary prospectus supplement for the offering to which this press release relates. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, and the other documents we have filed and will file with the SEC for more complete information about the Company and this offering. The proposed offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Additionally, electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Lake Street Capital Markets, LLC, Attn: Syndicate Department, 121 S 8th St, Suite 1000, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing syndicate@lakestreetcm.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Energy Services of America Corporation
Energy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,500+ employees on a regular basis. The Company's core values are safety, quality, and production.
Forward-Looking Statements
The information disclosed in this press release includes various forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "anticipates," "projects," "intends," "estimates," "expects," "believes," "plans," "may," "will," "should," "could," and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from such forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company's Annual Report on Form 10-K for the year ended September 30, 2025, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: projected revenues, net income, earnings per share, margins, cash flows, liquidity, weighted average shares outstanding, capital expenditures, tax rates and other projections of operating or financial results; expectations regarding our business or financial outlook; expectations regarding opportunities, trends and economic and regulatory conditions in particular markets or industries; expectations regarding our plans and strategies; the business plans or financial condition of our customers; the potential impact of commodity prices and commodity production volumes on our business, financial condition, results of operations and cash flows and demand for our services; the potential benefits from, and future performance of, acquired businesses and our investments; beliefs and assumptions about the collectability of receivables; the expected value of contracts or intended contracts with customers, as well as the scope, services, term or results of any awarded or expected projects; the development of and opportunities with respect to future projects, including pipeline projects; future capital allocation initiatives, including the amount, timing and strategies with respect to any future stock repurchases, and expectations regarding the declaration, amount and timing of any future cash dividends; the impact of existing or potential legislation or regulation; potential opportunities that may be indicated by bidding activity or similar discussions with customers; the future demand for and availability of labor resources in the industries we serve; the expected realization of remaining performance obligations or backlog; the expected outcome of pending or threatened legal proceedings. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
SOURCE Energy Services of America Corporation
FAQ**
How does Energy Services of America Corporation ESOA plan to allocate the net proceeds from their recent $20 million public offering of common stock for general corporate purposes, working capital, and potential acquisitions?
What specific factors might impact the projected revenues and net income of Energy Services of America Corporation ESOA in light of their recent public offering of common stock?
Given the underwriter's option to purchase additional shares, how might the potential increase in gross proceeds affect the strategic initiatives for Energy Services of America Corporation ESOA moving forward?
What are the key risks and uncertainties that Energy Services of America Corporation ESOA acknowledges could affect their business in the context of their public offering and future growth plans?
**MWN-AI FAQ is based on asking OpenAI questions about Energy Services of America Corporation (NASDAQ: ESOA).
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