HighPeak Energy prices 12.9M shares at $10.50 in underwritten public offering

HighPeak Energy announced the pricing of its underwritten public offering of 12,900,000 shares of its common stock, par value $0.0001 per share, 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.