On May 13, 2024, HNR Acquisition Corp. was reported to be in material breach of a Forward Purchase Agreement with Meteora Capital, LLC and associated entities. The breach occurred when HNR Acquisition Corp. failed to deliver additional shares to Meteora Capital as stipulated in the agreement. Meteora Capital, managed by Vik Mittal, holds a 9.66% stake in HNR Acquisition Corp., amounting to 554,495 shares. The investment firm, which operates as an investment adviser and a parent holding company, is currently considering legal action to address the harm caused by the breach. The Forward Purchase Agreement was part of OTC Equity Prepaid Forward Transactions that were supposed to result in the delivery of subscribed shares to Meteora Capital. The announcement was made in a Schedule 13G filing with the SEC, which also included a joint filing agreement.

On May 13, 2024, HNR Acquisition Corp. was reported to be in material breach of a Forward Purchase Agreement with Meteora Capital, LLC and associated entities. The breach occurred when HNR Acquisition Corp. failed to deliver additional shares to Meteora Capital as stipulated in the agreement. Meteora Capital, managed by Vik Mittal, holds a 9.66% stake in HNR Acquisition Corp., amounting to 554,495 shares. The investment firm, which operates as an investment adviser and a parent holding company, is currently considering legal action to address the harm caused by the breach. The Forward Purchase Agreement was part of OTC Equity Prepaid Forward Transactions that were supposed to result in the delivery of subscribed shares to Meteora Capital. The announcement was made in a Schedule 13G filing with the SEC, which also included a joint filing agreement.