Battalion Oil extends merger deadline to April 26; termination fee raised to $20M

BATTALION OIL CORP

Parent failed to deliver $200M funding evidence by April 10; Fourth Amendment extends deadline without terminating.
Qualifying Additional Financing Documents must be delivered by April 26, 2024 or Company can terminate.
Closing Failure Fee increased from $15M to $20M if Parent delivers qualifying financing documents.
If no documents by April 22, Parent must pay $125,000 for proxy mailing costs.
Abraham Mirman's limited guarantee increased to up to $2M (A&R); new $4M funding limited guarantee executed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BATTALION OIL CORP amended Fourth Amendment with Fury Resources, Inc. and San Jacinto Merger Sub, Inc. (effective 2024-04-16).

Action: amendment
Agreement: merger
Counterparty: Fury Resources, Inc. and San Jacinto Merger Sub, Inc.
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, Battalion Oil Corporation, a Delaware corporation (the " Company " or " we "), Fury Resources, Inc., a Delaware corporation (" Parent "), and San Jacinto Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Parent (" Merger Sub "), entered into a Fourth Amendment (the " Fourth Amendment ") to the Agreement and Plan of Merger, dated as of December 14, 2023 (the " Merger Agreement "), by and among the Company, Parent and Merger Sub

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BATTALION OIL CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-048127

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