---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-006690"
form_type: "8-K"
ticker: "HPK"
cik: "0001792849"
company_name: "HighPeak Energy, Inc."
filed_at: "2023-03-15T23:59:59+00:00"
generated_at: "2026-06-18T02:18:05.133109+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HighPeak Energy increases borrowing base to $700M, adds Texas Capital Bank as lender

## Summary
- Borrowing base increased to $700M; Aggregate Elected Commitments set at $575M.
- Quarterly dividends up to $4M permitted if no default and pro forma compliance with leverage ≤2.25x.
- Company must redeem/refinance the 2024 Senior Notes by June 30, 2023 or extend maturity to Feb 2025.
- Texas Capital Bank added as a new lender, increasing total lending group to ten institutions.
- Applicable margin now based on Utilization Percentage tiers, ranging from 3.25% to 4.25% for Tranche Rate Loans.

## SEC filing metadata
- accession: 0001437749-23-006690
- form_type: 8-K
- ticker: HPK
- cik: 0001792849
- company_name: HighPeak Energy, Inc.
- filed_at: 2023-03-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792849/000143774923006690/0001437749-23-006690-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792849/000143774923006690/hpe20230315_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-006690
- JSON: https://secwatch.observer/filing/0001437749-23-006690.json
- Plain text: https://secwatch.observer/filing/0001437749-23-006690.txt

## Key facts
- Debt Financings
  HighPeak Energy, Inc. amended credit facility of borrowing base to $700 million with Wells Fargo Bank, National Association.
  - Instrument: credit facility
  - Principal: borrowing base to $700 million
  - Counterparty: Wells Fargo Bank, National Association
  - Event: amendment
  source text: (the “Company”), as borrower, Wells Fargo Bank, National Association, as administrative agent, the guarantors party thereto and the lenders party thereto entered into that certain Eighth Amendment to Credit Agreement (the “Credit Agreement Amendment”), which upon effectiveness, amended that certain Credit Agreement, dated as of December 17, 2020 (as amended, restated, amended and restated, supplemented or otherwise modified by that certain (i) First Amendment to Credit Agreement, dated as of June 23, 2021, (ii) Second Amendment to Credit Agreement, dated as of October 1, 2021, (iii) Third Amendment to Credit Agreement, dated as of February 9, 2022, (iv) Fourth Amendment to Credit Agreement, dated as of June 27, 2022 (v) Fifth Amendment to Credit Agreement, dated as of October 14, 2022, (vi) Sixth Amendment to Credit Agreement, dated as of October 31, 2022, (vii) Seventh Amendment to Cred
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923006690/0001437749-23-006690-index.htm
- Material Agreements
  HighPeak Energy, Inc. amended Eighth Amendment to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto valued at $700 million (effective 2023-03-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto
  - Value: $700 million
  - Effective: 2023-03-14
  source text: On March 14, 2023 (the “Eighth Amendment Effective Date”), HighPeak Energy, Inc. (the “Company”), as borrower, Wells Fargo Bank, National Association, as administrative agent, the guarantors party thereto and the lenders party thereto entered into that certain Eighth Amendment to Credit Agreement (the “Credit Agreement Amendment”), which upon effectiveness, amended that certain Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923006690/0001437749-23-006690-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.