HighPeak Energy, Inc. Announces Pricing of Underwritten Public Offering of Common Stock

About this update from Highpeak Energy, Inc.

[{"type":"text","content":"FORT WORTH, Texas, July 19, 2023 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (the “Company”) (NASDAQ: HPK) today announced the pricing of its underwritten public offering of 12,900,000 shares of its common stock, par value $0.0001 per share (“common stock”), at a price to the public of $10.50 per share. The gross proceeds to the Company from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $135.5 million. In connection with the offering, the Company also granted the underwriter a 30-day option to purchase up to an additional 1,935,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on July 21, 2023, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and to otherwise enhance near-term liquidity. Roth Capital Partners is acting as sole manager of the offering. TCBI Securities, Inc., doing business as Texas Capital Securities, is acting as financial advisor to the Company for the offering. The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 3, 2022. The preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, have been filed with the SEC and are available on the SEC’s website at www.sec.gov. The final prospectus supplement, when available, will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and the final prospectus supplement, when available, may be obtained by sending a request to: 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 accessing the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock or any other securities, nor shall there be any sale of such shares of common stock or any other securities in any state or other jurisdiction...

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