Summary by Futu AI
HNR Acquisition Corp has successfully completed the acquisition of Pogo Resources, LLC, an oil and natural gas company with a focus on the Permian Basin, as of November 15, 2023. The acquisition was financed through a combination of cash, shares, promissory notes, and a senior secured term loan. In conjunction with the acquisition, HNR Acquisition Corp has entered into several agreements, including a Forward Purchase Agreement, Non-Redemption Agreement, and agreements for registration rights and board nomination rights. Additionally, a Common Stock Purchase Agreement with White Lion Capital, LLC was signed, allowing for the sale of up to $150 million in shares. Now a publicly-traded entity, HNR Acquisition Corp is managing Pogo's assets with an emphasis on developing its oil and...Show More