Decarbonization Plus Acquisition Corp IV: M&A transaction — Hammerhead Resources completes SPAC merger with DCRD, begins trading as HHRS on NASDAQ and TSX

Decarbonization Plus Acquisition Corp IV

Business combination closed Feb 23, 2023; 89% of DCRD shareholders and 99.4% of Hammerhead shareholders approved.
Combined company Hammerhead Energy Inc. begins trading on NASDAQ and TSX under HHRS (shares) and HHRSW (warrants) on Feb 27.
Hammerhead produced 32,081 boe/d in 2022; set monthly record of 40,308 boe/d in Jan 2023; plans two-rig program for ~40 wells in 2023.
$324.5M redeemed from trust to buy back 31.5M shares at ~$10.30 per share.
Hammerhead targets net zero Scope 1 and 2 emissions by 2030; board of 8 members led by Robert Tichio.

item 1.01 item 2.01 item 3.01 item 3.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Decarbonization Plus Acquisition Corp IV completed an acquisition involving Hammerhead Resources Inc. (closed 2023-02-23).

Action: acquisition
Counterparty: Hammerhead Resources Inc.
Closing: 2023-02-23

Exact text from the filing

On February 23, 2023, Decarbonization Plus Acquisition Corporation IV (the “Company” or “DCRD”) consummated its previously announced business combination (such date, the “Closing Date”) pursuant to the Business Combination Agreement, dated September 25, 2022 (the “Business Combination Agreement,” and the transactions contemplated thereby, the “Business Combination”), by and among DCRD, Hammerhead Resources Inc., an Alberta corporation (“Hammerhead”), Hammerhead Energy Inc., an Alberta corporation and wholly owned subsidiary of Hammerhead (“NewCo”), and 2453729 Alberta ULC, an Alberta unlimited liability corporation and wholly owned subsidiary of the Company (“AmalCo”).

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Source: SEC EDGAR

accession 0001193125-23-049537

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