Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Subsequent Events

Note 19 - Subsequent Events
6 Months Ended
Apr. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
— Subsequent Events
March 18, 2019,
the Company entered into an Interest Purchase Agreement pursuant to which it agreed to acquire all of the outstanding equity interests of Capital Pumping LP and its affiliates (the “Capital Acquisition”) for
million in an all-cash transaction. The acquisition closed on
May 15, 2019
and was financed with a combination of (i)
million of net proceeds from a public offering by the Company of
shares of its common stock at
per share (including
million of net proceeds received pursuant to the exercise of the underwriters’ option to purchase additional shares) and (ii)
million of incremental term loans under the Company’s Term Loan Agreement. Certain of the Company’s directors and officers and significant stockholders, and certain other investors identified by the Company, purchased an aggregate of
of the shares in the public offering from the underwriters at the same per-share price as was offered to the public. The public offering generated gross proceeds to the Company of
million. As of
April 30, 2019,
the Company had capitalized
million of equity issuance costs that will be transferred into additional paid-in capital in the
quarter. On
March 26, 2019,
the Company and certain of its affiliates entered into an Amendment
to Term Loan Agreement (“Amendment
), with Stifel Bank & Trust (“Stifel”) and Credit Suisse AG, Cayman Islands Branch (the “Administrative Agent”), pursuant to which Stifel and certain other lenders agreed to provide incremental term loans in an aggregate amount up to
million (the “Additional Term Loans”), which were to be borrowed under, and have substantially the same terms as the term loans previously borrowed under, that certain Term Loan Agreement, for the purpose of financing a portion of the consideration payable for the Capital Acquisition and the fees and expenses in connection therewith and in connection with the Additional Term Loans. On
May 10, 2019,
the parties to Amendment
entered into an Amended and Restated Amendment
to Term Loan Agreement (“Amended and Restated Amendment
), pursuant to which Stifel and certain other lenders agreed to provide an additional
million of Additional Term Loans, for an aggregate amount of
million, the net proceeds of which were used to finance a portion of the purchase price for the Capital Acquisition. The initial accounting for the business combination related to Capital Pumping was
complete at the date of issuance of the Company’s interim financial statements as the fair value accounting for acquired property and equipment has
yet been completed.