---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-097929"
form_type: "8-K"
ticker: "REI"
cik: "0001384195"
company_name: "RING ENERGY, INC."
filed_at: "2022-09-06T23:59:59+00:00"
generated_at: "2026-06-23T15:08:14.811640+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Ring Energy closes $182.9M acquisition of Stronghold Permian assets; borrowing base boosted to $600M

## Summary
- Consideration: ~$167.9M cash plus $15M deferred, 21.3M common shares, and 153,176 convertible preferred shares (convertible at $3.60 per share).
- Financing via new $1.0B credit facility; borrowing base increased from $350M to $600M.
- Board expanded from 7 to 9; Warburg-Pincus-backed Stronghold nominates Roy Ben-Dor and David Habachy.
- Expects 2022 year-end leverage below 1.5x (vs prior 2.0x), immediately accretive to EBITDA and FCF.
- Preferred stock carries 8% dividend if unconverted after Jan 31, 2023; mandatory redemption by Sep 30, 2027.

## SEC filing metadata
- accession: 0001104659-22-097929
- form_type: 8-K
- ticker: REI
- cik: 0001384195
- company_name: RING ENERGY, INC.
- filed_at: 2022-09-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1384195/000110465922097929/0001104659-22-097929-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1384195/000110465922097929/tm2225154d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-097929
- JSON: https://secwatch.observer/filing/0001104659-22-097929.json
- Plain text: https://secwatch.observer/filing/0001104659-22-097929.txt

## Key facts
- Executive change
  Roy I. Ben-Dor was appointed as Director at RING ENERGY, INC..
  - Action: appointed
  - Role: Director
  source text: On September 1, 2022, the Board increased the size of the Board from seven members to nine members and appointed Messrs. Ben-Dor and Habachy as directors to hold office until Ring’s annual meeting of stockholders in 2023 and the election of their successors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1384195/000110465922097929/0001104659-22-097929-index.htm
- Executive change
  David S. Habachy was appointed as Director at RING ENERGY, INC..
  - Action: appointed
  - Role: Director
  source text: On September 1, 2022, the Board increased the size of the Board from seven members to nine members and appointed Messrs. Ben-Dor and Habachy as directors to hold office until Ring’s annual meeting of stockholders in 2023 and the election of their successors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1384195/000110465922097929/0001104659-22-097929-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.