HighPeak Energy, Inc.Announces Price of Bought Purchase Offer for Common Shares
FORT WORTH, Texas, October 20, 2021 (GLOBE NEWSWIRE) – HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy” or the “Company”) today announced the price of its subscribed public offering of 2,200 000 shares of its common stock, at a public price of $ 10.00 per share, pursuant to a registration statement on Form S-1 (the “Registration Statement”) previously filed with the State Securities and Exchange Commission United (the “SEC”). The net proceeds to the Company from the Offer, after deducting subscription rebates and commissions and other expenses related to the Offer, are expected to be approximately $ 20.2 million. In connection with the offer, the Company also granted the underwriters a 30 day option to purchase up to 330,000 additional common shares at the public offer price, less bought deal discounts and commissions. The Company intends to use the net proceeds of this offering for general corporate purposes, which may include accelerating its drilling and development activities and financing other targeted acquisitions. The offer is scheduled to close on October 25, 2021, subject to customary closing conditions.
Roth Capital Partners is the sole accounting manager and Northland Capital Markets and Seaport Global Securities are the co-managers of the offering.
The offering is being made only by means of a prospectus which meets the requirements of the Securities Act of 1933, as amended. A copy of the final prospectus relating to the offering can be obtained from: Roth Capital Partners, LLC, Attention: Prospectus Department, 888 San Clemente Drive, Suite 400, Newport Beach, California 92660, or by telephone at 1-800-678 – 9147 or by going to the SEC’s website at www.sec.gov.
The registration statement was declared effective by the SEC on October 20, 2021. The registration statement can be obtained free of charge from the SEC’s website at www.sec.gov under “HighPeak Energy, Inc. This press release does not constitute an offer to sell or the solicitation of an offer to buy common shares or any other security, nor will there be any sale of such common shares or any other security. in a state or other jurisdiction. in which any such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
About HighPeak Energy
HighPeak Energy is an independent, publicly traded oil and gas company headquartered in Fort Worth, Texas focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves in the Midland Basin in West Texas.
Caution regarding forward-looking statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to the offer and use of the product. These forward-looking statements, including statements regarding the intention, completion, timing and option relating to the offering, represent the Company’s expectations or beliefs regarding future events. These forward-looking statements are subject to risks and uncertainties relating to market conditions and the satisfaction of customary closing conditions associated with the offer. There can be no assurance that the Company will be able to complete the Offer. When used in this document, including any oral statement made thereon, the words “could”, “should”, “will”, “could”, “believe”, “anticipate”, “intend” de “,” estimate “,” “expect”, “project”, the negative of these terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. . These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on information currently available as to the outcome and timing of future events. Unless otherwise provided by applicable law, HighPeak Energy disclaims any obligation to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date on which they are made. HighPeak Energy cautions you that these forward-looking statements are subject to all risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of HighPeak Energy, relating to the development, production, collection and sale of petroleum, natural gas and natural gas liquids.
These risks and uncertainties include, among others, the duration, extent and severity of the ongoing COVID-19 pandemic, including the effects of related public health issues and the impact of continued actions taken by government authorities. and other third parties in response to the pandemic and its impact on commodity prices, supply and demand considerations and storage capacity; economic conditions and political and economic developments in the United States and around the world, including the effects of the recent US presidential and legislative elections on energy and environmental policies; supply and demand and market prices for petroleum, natural gas, NGLs and other products or services; production and reserve levels; drilling risks; economic and competitive conditions; the availability of capital resources; capital expenditures and other contractual obligations; weather situation; inflation rate; the availability of goods and services; legislative, regulatory or policy changes; cyber attacks; occurrence of real estate acquisitions or disposals; integration of acquisitions; and securities or capital markets and related risks such as general credit, liquidity, market and interest rate risks. If one or more of the risks or uncertainties described in this press release occur, or if the underlying assumptions prove to be incorrect, actual results and plans could differ materially from those expressed in the forward-looking statements.
For more information on known material factors that could cause HighPeak Energy’s actual results to differ from projected results, please read the section entitled “Risk Factors” in the registration statement, including the prospectus relating to the Company. offer is part of, and in the HighPeak Energy document, other documents filed with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on March 15. 2021, which can be viewed on the SEC’s website at www.sec.gov.
Vice-president, business development
Source: HighPeak Energy, Inc.