Summary by Moomoo AI
HNR Acquisition Corp (HNRA), a Delaware corporation, successfully completed the acquisition of Pogo Resources, LLC, a company specializing in exploration and production in the Permian Basin, on November 15, 2023. The transaction involved a purchase of membership interests and was settled through a mix of cash, Class A and Class B Common Stock shares, promissory notes, and other considerations. To facilitate the acquisition, HNRA amended its Certificate of Incorporation to increase its authorized shares and reclassify its common stock. The funding for the acquisition came from HNRA's trust account cash, a senior secured term loan, and other financing agreements. HNRA also entered into several related agreements, such as a registration rights agreement, an option agreement, and a backstop agreement. The acquisition...Show More