Houston Natural Resources-Backed Energy SPAC HNR Acquisition Closes US$86.25 Million IPO

Special purpose acquisition company HNR Acquisition Corp. (NYSE: HNRAU) closed its initial public offering on the New York Stock Exchange on Thursday. The firm was able to raise US$86.25 million from its oversubscribed IPO.

The offering originally consisted of 7.5 million units priced at US$10.00 per unit for a total IPO size of US$75 million. The underwriter exercised the over-allotment option to purchase additional 1.125 million units at the same IPO price.

The company units trade on the New York-based big board under the symbol “HNRAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “HNRA” and “HNRAW”, respectively.

EF Hutton acted as the sole bookrunner for the offering.

Houston Natural Resources founder and CEO Donald Goree also serves as the SPAC’s chairman and CEO.

According to its filing statement, the blank-check company intends to focus on acquiring a business involved in natural gas, natural gas liquids, crude oil, or refined products in North America.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

PropTech SPAC Jaguar Global Growth Prices US$200 Million IPO

Special purpose acquisition company Jaguar Global Growth Corporation I (Nasdaq: JGGCU) started trading on the...

Monday, February 14, 2022, 02:12:00 PM

Cannabis SPAC Clover Leaf Capital Prices US$125 Million IPO

Special purpose acquisition company Clover Leaf Capital Corp. started trading its securities on the Nasdaq...

Tuesday, July 20, 2021, 04:46:00 PM

Electric Vehicle Maker Iconiq Motors To Be Taken Public In A US$2.5 Billion SPAC Merger

Electric vehicle company Iconiq Motors entered into a definitive business combination agreement with special purpose...

Monday, April 18, 2022, 02:24:00 PM

Ecommerce Firm GigaCloud Soars 206% Since US$36 Million Nasdaq IPO

B2B ecommerce solutions provider GigaCloud Technology Inc (Nasdaq: GCT) started trading on the Nasdaq Capital...

Monday, August 22, 2022, 02:41:00 PM

Industrials SPAC Kensington Capital Acquisition V Eyes US$240 Million IPO

Special purpose acquisition company Kensington Capital Acquisition Corp. V (NYSE: KCGI.U) started trading its securities...

Friday, August 13, 2021, 10:03:00 AM