Enservco Corporation announced a private placemen to issue 8% Convertible Promissory Note for the gross proceeds of $750,000 on September 1, 2023. The transaction included participation from returning investor Cross River Partners LP, a fund managed by Cross River Capital Management LLC. The company also issued $50,000 to Kevin Chesser.

The Convertible Notes have a one year term and accrue interest at 8.00% per annum. All outstanding principal and interest on the Convertible Notes is due on the one year anniversary of their issuance.. The Company may prepay all or any portion of the outstanding principal or accrued but unpaid interest on the Convertible Notes without premium or penalty.

The Convertible Notes were issued to accredited investors without registration under the Securities Act of 1933, as amended (the ?Securities Act?), in reliance on the exemption provided by Section 4(a)(2) of the Securities Act as transactions not involving a public offering.