Summary by Moomoo AI
HNR Acquisition Corp has entered into Amendment No. 2 to Common Stock Purchase Agreement with White Lion Capital on June 17, 2024, modifying the terms of their previous $150 million stock purchase arrangement. The amendment revises the Rapid Purchase process, allowing for same-day closing of transactions when purchase notices are given.Key changes include removing the maximum share limit per Rapid Purchase while implementing a new 100,000-share cap per individual request. The purchase price will now be set at the lowest traded stock price during the hour following White Lion's acceptance. Additionally, White Lion agreed to limit its daily resale of Commitment Shares to 7% of the daily trading volume, excluding pre/post-market and block trades.The Common Stock issuance will be conducted under Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D, maintaining exemption from registration requirements.
