Capital Raising: SitePro completes eight-figure debt raise, connected to ICS buy?

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[Context: On November 14, Cottonwood Venture-backed SitePro disclosed completing an eight-figure debt raise, according to a securities filing. It follows a November 4 acquisition of Integrated Control Solutions. Terms were not disclosed but the deal was funded by J.P. Morgan Commercial Banking’s Technology and Disruptive Commerce group, according to the announcement. Further details and related links are below.]


SitePro is a digital oilfield company focuses on fluid management for midstream and upstream, and lists multiple PE-backed companies as customers, including: Aqua Terra Water Management, BlueJack Energy Solutions, Hillstone Environmental, Luxe Energy, Solaris Water Midstream, and WaterBridge Resources.


  SITEPRO

SitePro, Inc.
CIK: 1794035
Address: 9502 US-87 LUBBOCK TX TEXAS 79423
Phone: 806-687-5326
Jurisdiction: DELAWARE
Previous Names: None
Entity Type: Corporation
Year of Incorporation… More than Five Years: Yes
Date: 2018
Industry: Other Technology
Issuer Size: Decline to Disclose
Fed Exemptions: 06b

OFFERING
Total Offering Amount: $12,000,000
Amount Sold: $12,000,000
Total Remaining: $0
Clarification:
Non Accredited Investors? N/A
Total Investors: 18
Amended Filing? N/A
Previous Accession No.
Date of First Sale: 10/31/2019
Offer more than 1 Year? No
Equity? N/A
Debt? Yes
Mineral Interest? N/A
Pooled Investment Fund? N/A
Options or Warrants? N/A
Security to be acquired? N/A
Is this offering being made in connection with a business combination transaction? Yes
Clarification:
Min Investment? $0
Gross Proceeds Used: $0
Clarification:

ADVISORS
Sales Compensation:
Recpient #1: N/A
Recipient #1 CRD:
Sales Commissions? $0
Finders Fees? $0
Clarification:

SIGNATURE

Signer: Joshua Cobb
Title: Chief Financial Officer
Date: 11/14/2019

RELATED PERSONS

  • David Bateman 9502 US-87 Lubbock TX TEXAS 79423 Executive Officer Director
  • Aaron Philips 9502 US-87 Lubbock TX TEXAS 79423 Executive Officer Director
  • Sam Scheef 7103 82nd Street Lubbock TX TEXAS 79424 Director
  • James Walesa 2211 Northwest Military Highway San Antonio TX TEXAS 78213 Director
  • Ryan Gurney 4306 Yoakum Blvd #300 Houston TX TEXAS 77006 Director

Related Links