HNRA extends deadline for Pogo business combination to Oct 15, 2023; updates Pogo acquisition details

EON Resources Inc.

Sponsor deposited $120k to extend deadline from Sep 15 to Oct 15; company must complete deal by Nov 15, 2023.
Target Pogo holds 13,700 acres, 550 wells in Permian Basin; current production ~1,400 BOE/d, target 4,000 BOE/d in 3 years.
EF Hutton agreed to reduce deferred underwriting commission from $2.6M to $500k cash at closing + $1.3M within 90 days.
Updated preliminary proxy filed Sep 11; five proposals for shareholder approval.
Company still requires stockholder approval and additional financing to close the business combination.

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

EON Resources Inc. entered into Satisfaction and Discharge of Indebtedness pursuant to Underwriting Agreement dated February 10, 2022 with EF Hutton, a division of Benchmark Investments, LLC valued at $500,000 in cash on the date of the closing of the Business Combination and $1,300,000 in cash withi (effective 2023-09-07).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton, a division of Benchmark Investments, LLC
Value: $500,000 in cash on the date of the closing of the Business Combination and $1,300,000 in cash withi
Effective: 2023-09-07

Exact text from the filing

On September 7, 2023, the Company and EF Hutton entered into a Satisfaction and Discharge of Indebtedness pursuant to Underwriting Agreement dated February 10, 2022 (the “ Satisfaction ”).

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23 material agreements filed in the last 30 days. Browse all material agreements →

EON Resources Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-076396

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