American Energy Partners, Inc. (OTC Pink: AEPT) is engaged as a diversified energy company, which focuses on production, water treatment, and more. Shares of the diversified energy company are jumping 37%, through early trading on Tuesday, January 23, 2018. Over the past month, American Energy Partners, Inc. has seen average daily volume of 417,642 shares. However, volume of 157,666 shares or dollar volume of $10,800, has already exchanged hands on the day.
Shares of American Energy Partners, Inc. are gaining today, after the company announced it has revised its LOI and provides additional updates on its acquisition. The company has entered a 45-day due diligence period within the growing industrial painting and pressure testing market. The LOI has been revised on January 17th and is in full effect. The acquisition is expected to be completed by March 30, 2018. Here is the full press release detailing of the revised LOI and acquisition details:
American Energy Partners, Inc. Press Release:
ALLENTOWN, Pennsylvania, January 23, 2018 /PRNewswire/ –American 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.
The 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.
The 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.
“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.
American Energy Partners, Inc. (AEPT)
AEPT 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.
For additional information, visit: American Energy Partners, Inc.
Safe Harbor
This 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 expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.
