--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-020149" form_type: "8-K" ticker: "HPK" cik: "0001792849" company_name: "HighPeak Energy, Inc." filed_at: "2023-07-18T23:59:59+00:00" generated_at: "2026-06-13T07:11:07.523319+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # HighPeak Energy amends credit agreement, launches equity offering to avoid default on Feb notes ## Summary - Q2 preliminary production 41–43 MBoe/d; EBITDAX $180–190M; D&C capex $260–300M. - Cash $30.3M, total debt $1,002.4M, liquidity $77.9M; $121.3M of payables past due. - Ninth Amendment waives Q2 current ratio covenant, postpones Feb notes obligation to Sept 1, 2023, restricts borrowing until $95M equity proceeds received. - Company commenced underwritten public offering of common stock; Roth Capital sole manager; proceeds for working capital and liquidity. - If Feb notes not refinanced by Sept 1, cross-default risk could accelerate debt and lead to bankruptcy. ## SEC filing metadata - accession: 0001437749-23-020149 - form_type: 8-K - ticker: HPK - cik: 0001792849 - company_name: HighPeak Energy, Inc. - filed_at: 2023-07-18T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 2.02, 2.03, 7.01, 8.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1792849/000143774923020149/0001437749-23-020149-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792849/000143774923020149/hpe20230712_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-020149 - JSON: https://secwatch.observer/filing/0001437749-23-020149.json - Plain text: https://secwatch.observer/filing/0001437749-23-020149.txt ## Key facts - Debt Financings HighPeak Energy, Inc. amended credit facility of not specified (but the amendment includes a temporary restriction on borrowing further amounts until the Company has rec with Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto at certain pricing increases (no specific rates provided) maturing not directly amended (but the Ninth Amendment postpones the February Notes Obligation to September 1, 2023). - Instrument: credit facility - Principal: not specified (but the amendment includes a temporary restriction on borrowing further amounts until the Company has rec - Counterparty: Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto - Rate: certain pricing increases (no specific rates provided) - Maturity: not directly amended (but the Ninth Amendment postpones the February Notes Obligation to September 1, 2023) - Event: amendment source text: On July 12, 2023, the Company entered into a Ninth Amendment to the Credit Agreement, dated as of December 17, 2020, by and among the Company, Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement,” and such amendment, the “Ninth Amendment”) to, among other things, provide for (i) a waiver of the minimum current ratio covenant for the fiscal quarter ended June 30, 2023 under the Credit Agreement, (ii) a waiver of the failure to subject one or more certain accounts to an Account Control Agreement within the period provided in the Credit Agreement, (iii) a postponement of the April 2023 borrowing base redetermination until September 2023, (iv) a postponement of the date on which the Company was previously obligated (the “February Notes Obligation”) thereunder to either extend the maturity o evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923020149/0001437749-23-020149-index.htm - Earnings Releases HighPeak Energy, Inc. reported preliminary financial results for six months ended June 30, 2023. - Period: six months ended June 30, 2023 - Result: preliminary results source text: the Company estimates its EBITDAX for the three months ended June 30, 2023 ranged between $180 million and $190 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923020149/0001437749-23-020149-index.htm - Material Agreements HighPeak Energy, Inc. amended Ninth Amendment with Wells Fargo Bank, National Association (effective 2023-07-12). - Action: amendment - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association - Effective: 2023-07-12 source text: On July 12, 2023, the Company entered into a Ninth Amendment to the Credit Agreement, dated as of December 17, 2020, by and among the Company, Wells Fargo Bank, National Association (as successor to Fifth Third Bank, National Association), as administrative agent, and the lenders party thereto evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923020149/0001437749-23-020149-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.