EON closes $45.5M funding, retires $19.3M senior debt, signs San Andres farmout

EON Resources Inc.

Raised $45.5M via 15% perpetual ORRI in GJF ($20M) and 5% ORRI in San Andres ($20.5M) plus $5M from Virtus for farmout.
Used $20.5M to settle seller obligations ($13.675M cash + $7M note) + issued 1.5M shares; retired $19.3M senior debt.
Virtus to drill up to 90 horizontal San Andres wells; EON retains 35% non-op WI; first 3 wells mid-2026.
Virtus estimates $95M+ net PV-10 reserves to EON; cumulative capex >$300M; anticipated 7,000 BOPD net.
Board approved $825k total cash bonuses + 825k restricted stock to officers/directors, subject to stockholder approval.

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Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.4

EON Resources Inc. issued common stock.

Security: common stock

Exact text from the filing

The Company issued such shares of Class A Common Stock in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), Rule 506(b) of Regulation D promulgated thereunder, and/or Section 3(a)(9) of the Securities Act.

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EON Resources Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-087039

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