BATL cuts merger price to $7.00/share; Fury secures $548M in total commitments

BATTALION OIL CORP

Merger consideration reduced from $9.80 to $7.00 per common share; all preferred stockholders roll equity.
Fury Resources secured $200M debt (Fortress/AI Partners), $188M preferred, $160M equity commitments.
Luminus, Oaktree, and LS Power agree to contribute all preferred shares for new buyer preferred.
Former Battalion CEO Richard Little to return post-close to accelerate development in Permian.
Stockholder vote still required; transaction expected to close in Q4 2024.

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