Service & Supply | Oilfield Services | Bankruptcy / Restructure Update | Financial Trouble | Capital Markets
Frac Sand Provider, Emerge Files Chaper 11 Bankruptcy
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Frac sand provider Emerge Energy Services announced that the Company has voluntarily filed for relief under Chapter 11.
The Company has received a commitment for debtor in possession financing from its secured lenders in the amount of $35 million and received interim authorization from the Bankruptcy Court for use of its cash on hand as well as the initial funding of $7.5 million of the DIP commitment.
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