Star Equity (STRR) announced that effective August 9, 2024, it completed an investment in Enservco Corporation (ENSV), a Colorado-based Energy Services company that is expanding into the Transportation & Logistics sector via the acquisition of Buckshot Trucking. Transaction Highlights: Star issued 250,000 shares of its 10% Series A Cumulative Perpetual Preferred Stock to Enservco in exchange for 12.5 million ENSV common shares and share equivalents, representing $2.5 million in value using STRRP’s $10.00 per share liquidation preference. Star also made a $1 million short-term loan to Enservco in the form of a promissory note to facilitate the acquisition of Buckshot. Star will receive one seat on Enservco’s Board of Directors, which has been designated for Star’s CEO, Rick Coleman.
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