HighPeak Energy, Inc. (HPK): debt financing — HighPeak Energy issues $25M 10.625% Senior Notes due Nov 2024

HighPeak Energy, Inc.

Issued $25M aggregate principal of 10.625% Senior Notes due November 15, 2024.
Net proceeds of ~$23M after discount, fees, and expenses; used for general corporate purposes.
Interest payable semi-annually on May 15 and Nov 15, beginning May 15, 2023.
Optional redemption allowed after Nov 15, 2023 at 100% of principal plus accrued interest; earlier redemption includes make-whole premium.
Notes are senior unsecured obligations; covenants limit additional debt, dividends, asset sales, and investments.

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 $25 million with UMB Bank, National Association at 10.625% per annum maturing November 15, 2024.

Instrument: senior notes
Principal: $25 million
Counterparty: UMB Bank, National Association
Rate: 10.625% per annum
Maturity: November 15, 2024
Event: incurrence

Exact text from the filing

On December 12, 2022, the Company completed the private placement of $25 million aggregate principal amount of its 10.625% Senior Notes due November 2024

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HighPeak Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-22-028930

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