---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-025960"
form_type: "8-K"
ticker: "HPK"
cik: "0001792849"
company_name: "HighPeak Energy, Inc."
filed_at: "2023-09-15T23:59:59+00:00"
generated_at: "2026-06-10T16:31:24.849546+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HighPeak Energy closes $1.2B term loan, extends maturities to 2026, redeems senior notes

## Summary
- Entered $1.2B senior secured term loan due Sept 30, 2026; interest at SOFR + 7.50%.
- Used proceeds to fully repay 10.000% Feb 2024 and 10.625% Nov 2024 senior notes and exit reserve-based credit facility.
- Pro forma liquidity at June 30, 2023 estimated at ~$200M; super senior revolver capacity up to $100M.
- Q3 2023 production averaging >50,000 Boe/d; proved developed reserves PV-10 of $2.81B at $80/bbl, $3/mcf.
- Plans to add a third drilling rig in Q4 2023; management cites enhanced financial flexibility and value.

## SEC filing metadata
- accession: 0001437749-23-025960
- form_type: 8-K
- ticker: HPK
- cik: 0001792849
- company_name: HighPeak Energy, Inc.
- filed_at: 2023-09-15T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792849/000143774923025960/0001437749-23-025960-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792849/000143774923025960/hpe20230912_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-025960
- JSON: https://secwatch.observer/filing/0001437749-23-025960.json
- Plain text: https://secwatch.observer/filing/0001437749-23-025960.txt

## Key facts
- Debt Financings
  HighPeak Energy, Inc. incurred term loan of $1.2 billion with Texas Capital Bank at Adjusted Term SOFR plus an applicable margin of 7.50% maturing September 30, 2026.
  - Instrument: term loan
  - Principal: $1.2 billion
  - Counterparty: Texas Capital Bank
  - Rate: Adjusted Term SOFR plus an applicable margin of 7.50%
  - Maturity: September 30, 2026
  - Event: incurrence
  source text: The 2023 Term Loan Credit Agreement provides for an aggregated commitment capacity equal to $1.2 billion. Loans under the 2023 Term Loan Credit Agreement bear interest at a rate per annum equal to the Adjusted Term SOFR (as defined in the 2023 Term Loan Credit Agreement) plus an applicable margin of 7.50%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923025960/0001437749-23-025960-index.htm
- Material Agreements
  HighPeak Energy, Inc. terminated 2020 Credit Agreement with Wells Fargo Bank, National Association (effective 2023-09-13).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Effective: 2023-09-13
  source text: the Credit Agreement, dated as of December 17, 2020, among the Company, as borrower, Wells Fargo Bank, National Association (as successor-in-interest to Fifth Third Bank, National Association), as administrative agent, and the lenders parties thereto (as amended from time to time, the “2020 Credit Agreement”) will be terminated, effective as of the Closing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923025960/0001437749-23-025960-index.htm
- Material Agreements
  HighPeak Energy, Inc. entered into 2023 Term Loan Credit Agreement with Texas Capital Bank, Chambers Energy Management, LP valued at $1.2 billion (effective 2023-09-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Texas Capital Bank, Chambers Energy Management, LP
  - Value: $1.2 billion
  - Effective: 2023-09-12
  source text: On September 12, 2023, HighPeak Energy, Inc. (the “Company”) entered into a senior secured term loan credit agreement (the “2023 Term Loan Credit Agreement”) among the Company, as borrower, Texas Capital Bank (“Texas Capital”), as administrative agent, Chambers Energy Management, LP (“Chambers”), as collateral agent and the lenders from time to time party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792849/000143774923025960/0001437749-23-025960-index.htm

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