EON Resources Inc. (EONR): M&A transaction — HNRA closes acquisition of Pogo Resources; $49.4M redeemed by public shareholders

EON Resources Inc.

Consideration: ~$31.1M cash, 2M OpCo Class B units ($10/unit), $15M seller note, 1.5M OpCo preferred units, and $1.93M from production proceeds.
Trust account released $49.4M for redemption of 3.32M public shares at ~$10.95/share; remaining trust balance $13M.
Entered $28M senior secured term loan with First International Bank & Trust at prime +6.5%, matures 3 years.
Post-closing: 5.1M Class A shares, 1.8M Class B shares; warrants continue trading on NYSE American under HNRAW.
Option to purchase ORR interest for $30M plus 12% compounded monthly, exercisable until Nov 15, 2024, while seller note outstanding.

item 1.01 item 2.01 item 3.02 item 9.01 item 3.03 item 5.01 item 5.02 item 5.03 item 5.06 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Donald W. Orr

President

EONR · EON Resources Inc.

Filed: November 21, 2023, 6:59 PM ET

Donald W. Orr resigned from his positions as HNRA President and Director

Departed

Donald H. Goree

Chief Executive Officer

EONR · EON Resources Inc.

Filed: November 21, 2023, 6:59 PM ET

Donald H. Goree resigned from his position as HNRA’s Chief Executive Officer, Chief Financial Officer, Chairman, and Director

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Donald W. Orr resigned as President at EON Resources Inc..

Action: resigned
Role: President

Exact text from the filing

Donald W. Orr resigned from his positions as HNRA President and Director

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Donald H. Goree resigned as Chief Executive Officer at EON Resources Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Donald H. Goree resigned from his position as HNRA’s Chief Executive Officer, Chief Financial Officer, Chairman, and Director

View on SEC.gov

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

EON Resources Inc. completed an acquisition involving CIC Pogo LP, DenCo Resources, LLC, Pogo Resources Management, LLC, 4400 Holdings, LLC for $31,074,127 in cash, 2,000,000 Class B common units of OpCo valued at $10.00 per unit, 2,000,000 shares of Class B Common Stock, $15,000,000 promissory note, 1, (closed 2023-11-15).

Action: acquisition
Counterparty: CIC Pogo LP, DenCo Resources, LLC, Pogo Resources Management, LLC, 4400 Holdings, LLC
Consideration: $31,074,127 in cash, 2,000,000 Class B common units of OpCo valued at $10.00 per unit, 2,000,000 shares of Class B Common Stock, $15,000,000 promissory note, 1,
Closing: 2023-11-15

Exact text from the filing

Exchange Act of 1934 Date of Report (Date of earliest event reported): November 15, 2023 HNR ACQUISITION CORP (Exact name of registrant as specified in its charter) Delaware 001-41278 85-4359124 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 3730 Kirby Drive , Suite 1200 Houston , Texas 77098

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16 m&a transactions filed in the last 30 days. Browse all m&a transactions →

EON Resources Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-089273

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