ECM Energy to price IPO of 2.5 million shares between $7.00 and $9.00

Maxim assists; proceeds used for working capital, corporate purposes

By Devika Patel

Knoxville, Tenn., March 31- ECM Energy Services, Inc. will sell 2.5 million common shares in its initial public offering with a 15%, 45-day greenshoe, according to a Form S-1 filed Monday with the Securities and Exchange Commission.

The stock will be sold at a price expected to fall between $7.00 and $9.00 per share.

Maxim Group LLC is the sole bookrunning manager.

Proceeds will be used for working capital and general corporate purposes, the purchase of additional rental equipment, expansion into new markets and repayment of the remainder of the principal amount of the company's August 2013 bridge notes that are not converted into common shares.

The energy services company, which is based in Scottsdale, Ariz., expects its shares will trade on the NYSE exchange under the symbol "ECME."

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