Business
American Energy Revises LOI and Provides Guidance on Proposed Acquisition
American Energy Revises LOI and Provides Guidance on Proposed Acquisition.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n\n\n\nAmerican Energy Revises LOI and Provides Guidance on Proposed Acquisition\n\n\n\n\n\nAmerican Energy Revises LOI and Provides Guidance on Proposed Acquisition\nPR Newswire\nALLENTOWN, Pennsylvania, January 23, 2018\n\n\n\nALLENTOWN, Pennsylvania, January 23, 2018 /PRNewswire/ --\n\nAmerican Energy Partners, Inc. (OTC: AEPT) (the \"Company\", \"American Energy\" or \"AEPT\"), a diversified energy company, today announces that it has agreed to proceed directly to a 45-day due diligence period with the growing industrial painting, pressure testing and roustabout company that it had previously entered into a letter of intent with at the end of 2017.\n\nThe letter of intent has been revised as of January 17th and remains in full force and effect. American Energy anticipates the acquisition to be completed by March 30, 2018 and includes the purchase of real estate, subject to satisfactory due diligence findings.\n\nThe Company presently expects to close this transaction subject to the satisfaction or waiver of customary closing conditions. The transaction is not subject to any financing condition.\n\n\"We are actively engaged with the Service Company and remain dedicated to American Energy's proposed acquisition of them,\" said Mr. Brad Domitrovitsch, Chairman & CEO of American Energy. \"We continue to work diligently and cooperatively with the Service Company to close the transaction as soon as possible. We are fully committed to the acquisition and are working closely with the Service Company to complete this transaction.\n\nAmerican Energy Partners, Inc. (AEPT) \n\n\nAEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.\n\nFor additional information, visit: American Energy Partners, Inc.\n\nSafe Harbor \n\nThis press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT's financial position and business strategy. The words or phrases \"would be,\" \"will allow,\" \"intends to,\" \"may result,\" \"are exp...