HighPeak Energy prices $135.5M public offering of 12.9M shares at $10.50; insiders purchase ~10M shares

HighPeak Energy, Inc.

Public offering of 12,900,000 shares priced at $10.50/share; gross proceeds ~$135.5M.
Underwriter option for 1,935,000 additional shares exercised in full; total net proceeds ~$151.2M.
Proceeds to be used for working capital and to enhance near-term liquidity.
Existing stockholders including Chairman/CEO Jack Hightower and J.P. DeJoria Family Trust purchased ~10M shares at offering price.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

HighPeak Energy, Inc. entered into Underwriting Agreement with Roth Capital Partners, LLC valued at $151.2 million (effective 2023-07-19).

Action: entry
Agreement: underwriting
Counterparty: Roth Capital Partners, LLC
Value: $151.2 million
Effective: 2023-07-19

Exact text from the filing

On July 19, 2023, HighPeak Energy, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Roth Capital Partners, LLC (the “Underwriter”), relating to the previously announced underwritten offering of 12,900,000 shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock” and such offering, the “Offering”).

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HighPeak Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-020453

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