EON Resources enters agreement to restructure balance sheet, eliminate ~$40M in obligations

EON Resources Inc.

Agreement includes purchase of 10% ORRI for $14M cash, retirement of Seller Note (reduced to $8M plus interest waiver), and repurchase of preferred units for 3M shares of Class A common stock.
Total consideration: $22M cash plus 3M shares of Class A common stock; closing conditioned on securing financing.
Expected balance sheet impact: reduction of ~$18M in debt/accrued interest and $24M in preferred unit redemption value.
All outstanding Class B common stock will be eliminated; preferred units repurchased and cancelled.
Agreement automatically terminates if not closed by June 3, 2025.

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