HighPeak Energy plans $575M senior notes offering to refinance near-term debt

HighPeak Energy, Inc.

Intends to offer $575M aggregate principal of senior notes due 2028 in private placement.
Proceeds to repay $475M of existing 10.000% and 10.625% notes due 2024 and reduce revolver borrowings.
Also plans Ninth Amendment to credit agreement: elected commitments to $660M, borrowing base to $750M, maturity extended to July 1, 2025.
Amendment waives 25% borrowing base reduction triggered by issuance of the new senior notes.
Pro forma financials for prior acquisitions updated for year ended Dec 31, 2022; not material new guidance.

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