GreenHunter Resources Inc., a provider of water and waste-management services in the Eagle Ford Shale, says it has raised almost $3.2 million in a private securities placement.
The Grapevine, Texas-based company will use funds to expand its oilfield infrastructure, including mobile water-treatment systems, disposal facilities and storage tanks, according to a press statement.
GreenHunter placed 181,786 units consisting of an aggregate of 181,786 shares of its 10 percent Series C Cumulative Preferred Stock and 282,778 common stock purchase warrants.
Context Capital Management LLC, Forward Management LLC, Crow Point Partners and New Salem Investment Capital LLC purchased the units, according to GreenHunter officials.
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Sanford Nowlin covers energy/utilities, transportation/aviation and manufacturing.
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