Summary by Futu AI
On March 7, 2024, HNR Acquisition Corp, a Delaware-based company, filed a Form 8-K with the SEC to report an amendment to a previously established agreement with White Lion Capital, LLC. The amendment, referred to as Amendment No. 1, modifies the Common Stock Purchase Agreement originally entered into on October 17, 2022. Under the revised terms, HNR Acquisition Corp has agreed to issue 440,000 Commitment Shares to White Lion as consideration for White Lion's commitments. The Amendment also introduces a Rapid Purchase Notice feature, allowing for expedited transactions within two business days, and sets a daily resale limit for White Lion at 7% of the previous day's trading volume. Additionally, the right for HNR Acquisition Corp to sell shares to White Lion has been extended until December 31, 2026. The company also disclosed the unregistered sale of equity securities, relying on exemptions from registration requirements. Alongside the amendment, HNR Acquisition Corp released an updated investor presentation and issued a press release regarding the same, both of which were filed with the SEC.