HNR Acquisition Corp amends deal to acquire Pogo Resources for up to $63M cash plus equity

EON Resources Inc.

Amended & Restated MIPA signed Aug 28 to buy 100% of Pogo Resources in an Up-C structure.
Consideration includes up to $63M cash, 2M OpCo Class B units ($10/unit), and 2M Class B shares.
Debt commitment letter for $28M senior secured term loan from First International Bank & Trust.
Closing subject to stockholder approval, HSR clearance, and no material adverse effect.
Outside date for closing is Oct 30, 2023; SPAC extension may allow until Nov 15, 2023.

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