HighPeak Energy, Inc. (HPK): debt financing — HighPeak Energy issues $225M of 10.625% Senior Notes due 2024

HighPeak Energy, Inc.

Issued $225M aggregate principal of 10.625% Senior Notes maturing Nov 2024; net proceeds ~$200M.
Used part of proceeds to reduce outstanding borrowings under senior secured reserve-based lending facility.
Remaining proceeds for drilling, production development, fees, and general corporate purposes.
Also entered supplemental indenture to amend existing 10% Senior Notes due 2024 to align terms.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HighPeak Energy, Inc. incurred senior notes of $225 million at 10.625% per annum maturing November 15, 2024.

Instrument: senior notes
Principal: $225 million
Rate: 10.625% per annum
Maturity: November 15, 2024
Event: incurrence

Exact text from the filing

On November 8, 2022, the Company completed its offering of $225 million aggregate principal amount of its 10.625% Senior Notes due November 2024 (the “November Notes”), which are fully and unconditionally guaranteed on a senior unsecured basis by the Guarantors (as defined below).

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HighPeak Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-22-026977

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