SEC Form 4 · accession 0001493152-15-001387
Eco-Stim Energy Solutions, Inc. · ESES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lap Wai Chan
Director
Period of report
Oct 28, 2014
Accepted (ET)
Apr 13, 2015 · 5:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001135657
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F3 | Feb 19, 2015 | P | 173,911 | $5.75 | A | 1,507,244 | I | See footnotes 1 and 3 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible NotesF2,F3 | $6.00 | Oct 28, 2014 | J | — | A | Oct 28, 2014 | May 28, 2018 | Common Stock | 1,689,351 | — | I |
Explanation of responses
- F1On February 19, 2015, ACM Emerging Markets Master Funds I, L.P. (the "Fund") purchased 173,911 shares of Common Stock at a price of $5.75 per share in an underwritten public offering by Eco-Stim Energy Solutions, Inc. (the "Issuer").
- F2The Issuer previously issued to the Fund a multiple draw secured promissory note (the "Convertible Note") with a maximum aggregate principal amount of $22,000,000, convertible into Common Stock at a price of $6 per share. On October 28, 2014, the Issuer drew $10,136,115, the remainder of the Convertible Note, convertible into 1,689,351 shares of Common Stock at the option of the Fund, for a total balance of $22,000,000, such total balance convertible into 3,666,666 shares of Common Stock at the option of the Fund.
- F3The Reporting Person is a senior director of Albright Capital Management LLC (the "GP"), the general partner of the Fund, and accordingly may have an indirect pecuniary interest in the securities of the Issuer beneficially owned by the Fund. Such indirect pecuniary interest cannot be calculated through a proportionate allocation of securities of the Issuer. Therefore, the entire amount of the Fund's interest is being reported. The Reporting Person disclaims beneficial ownership of the securities of the Issuer held by the Fund, except to the extent of his pecuniary interest therein.