HighPeak Energy down after pricing $20 mln stock offering

HighPeak Energy

21/10/2021 14:01

** HighPeak Energy Inc  HPK.O  shares down ~4% premarket at
$10.60 after co prices follow-on
    ** Texas-based O&G producer sells 2.2 mln shares at $10
 urn:newsml:reuters.com:*:nGNX4vyL0b
    ** Offering prices at 9.6% discount to stock's last close
    ** Co plans to use net offering proceeds for general
corporate purposes, including drilling/development activities
and funding further bolt-on acquisitions
    ** HPK has 92.74 mln shares outstanding and 4.44 mln of
public float, per Refinitiv data
    ** Roth Capital sole bookrunner for offering
    ** YTD, shares down 30% after hitting 2021 high of $21.67 in
Jan
    ** HighPeak went public last year after SPAC merger with
Pure Acquisition Corp


 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))