Amplify Energy and Juniper Capital Announce Termination of Merger Agreement
Amplify Energy Corp. (NYSE: AMPY) and Juniper Capital Advisors have mutually agreed to terminate their previously announced merger agreement due to extraordinary market volatility. As part of the termination agreement, Juniper will receive an $800,000 cash payment instead of any potential termination fee.
Following this decision, Amplify has cancelled its special stockholders meeting and withdrawn the proposals outlined in its March 4, 2025 proxy statement. The company plans to provide updates on its business status, including capital allocation and free cash flow outlook, during its upcoming first quarter earnings announcement. Amplify will continue exploring strategic alternatives to maximize shareholder value, including portfolio optimization strategies.
Amplify Energy Corp. (NYSE: AMPY) e Juniper Capital Advisors hanno concordato di comune accordo di annullare l'accordo di fusione precedentemente annunciato a causa di un'eccezionale volatilità del mercato. Come parte dell'accordo di risoluzione, Juniper riceverà un pagamento in contanti di 800.000 dollari invece di una possibile penale di risoluzione.
A seguito di questa decisione, Amplify ha cancellato la riunione speciale degli azionisti e ritirato le proposte indicate nel suo proxy statement del 4 marzo 2025. La società prevede di fornire aggiornamenti sullo stato delle attività, inclusa l'allocazione del capitale e le previsioni sul flusso di cassa libero, durante il prossimo annuncio dei risultati del primo trimestre. Amplify continuerà a esplorare alternative strategiche per massimizzare il valore per gli azionisti, comprese strategie di ottimizzazione del portafoglio.
Amplify Energy Corp. (NYSE: AMPY) y Juniper Capital Advisors han acordado mutuamente cancelar el acuerdo de fusión previamente anunciado debido a una volatilidad extraordinaria del mercado. Como parte del acuerdo de terminación, Juniper recibirá un pago en efectivo de 800,000 dólares en lugar de cualquier posible tarifa por terminación.
Tras esta decisión, Amplify ha cancelado su reunión especial de accionistas y retirado las propuestas descritas en su declaración de poder del 4 de marzo de 2025. La compañía planea proporcionar actualizaciones sobre el estado de su negocio, incluida la asignación de capital y las perspectivas de flujo de caja libre, durante el próximo anuncio de resultados del primer trimestre. Amplify continuará explorando alternativas estratégicas para maximizar el valor para los accionistas, incluyendo estrategias de optimización de cartera.
Amplify Energy Corp. (NYSE: AMPY)와 Juniper Capital Advisors는 극심한 시장 변동성으로 인해 이전에 발표된 합병 계약을 상호 합의 하에 종료하기로 결정했습니다. 종료 합의의 일환으로 Juniper는 잠재적 종료 수수료 대신 80만 달러의 현금 지급을 받게 됩니다.
이 결정에 따라 Amplify는 특별 주주총회를 취소하고 2025년 3월 4일자 위임장에 명시된 제안들을 철회했습니다. 회사는 다가오는 1분기 실적 발표에서 자본 배분 및 자유 현금 흐름 전망을 포함한 사업 현황 업데이트를 제공할 계획입니다. Amplify는 주주 가치를 극대화하기 위해 포트폴리오 최적화 전략을 포함한 전략적 대안을 계속 모색할 것입니다.
Amplify Energy Corp. (NYSE : AMPY) et Juniper Capital Advisors ont convenu d'un commun accord de mettre fin à leur accord de fusion précédemment annoncé en raison d'une volatilité exceptionnelle du marché. Dans le cadre de cet accord de résiliation, Juniper recevra un paiement en espèces de 800 000 dollars au lieu de toute éventuelle indemnité de résiliation.
Suite à cette décision, Amplify a annulé sa réunion spéciale des actionnaires et retiré les propositions présentées dans sa déclaration de procuration du 4 mars 2025. La société prévoit de fournir des mises à jour sur l'état de ses activités, y compris l'allocation du capital et les perspectives de flux de trésorerie disponible, lors de la prochaine publication des résultats du premier trimestre. Amplify continuera d'explorer des alternatives stratégiques pour maximiser la valeur pour les actionnaires, y compris des stratégies d'optimisation de portefeuille.
Amplify Energy Corp. (NYSE: AMPY) und Juniper Capital Advisors haben sich einvernehmlich darauf geeinigt, ihre zuvor angekündigte Fusionsvereinbarung aufgrund außergewöhnlicher Marktschwankungen zu beenden. Im Rahmen der Aufhebungsvereinbarung erhält Juniper eine Barzahlung in Höhe von 800.000 US-Dollar anstelle einer möglichen Kündigungsgebühr.
Nach dieser Entscheidung hat Amplify seine außerordentliche Hauptversammlung abgesagt und die in der Vollmachtserklärung vom 4. März 2025 enthaltenen Vorschläge zurückgezogen. Das Unternehmen plant, im Rahmen der bevorstehenden Veröffentlichung der Quartalsergebnisse für das erste Quartal Updates zum Geschäftsstatus, einschließlich Kapitalallokation und Prognosen zum freien Cashflow, bereitzustellen. Amplify wird weiterhin strategische Alternativen prüfen, um den Aktionärswert zu maximieren, einschließlich Strategien zur Portfoliooptimierung.
- Company maintains flexibility to pursue other strategic alternatives
- Continued focus on portfolio optimization and shareholder value maximization
- Merger agreement with Juniper Capital terminated
- $800,000 cash payment required for termination
- Market volatility affecting strategic plans
HOUSTON, April 25, 2025 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today that the Company and Juniper Capital Advisors, L.P. (“Juniper”) have entered into a mutual termination agreement (“Termination Agreement”) to terminate (the “Termination”) the previously announced Agreement and Plan of Merger (the “Merger Agreement”) in light of the extraordinary volatility in the market. In accordance with the terms of the Termination Agreement, Juniper is receiving a cash payment of
In view of the Termination, Amplify also announced its decision to cancel its special meeting of stockholders (the “Special Meeting”) and the withdrawal from consideration by the Company’s stockholders of the proposals set forth in the Company’s definitive proxy statement, as amended, filed with the Securities and Exchange Commission (the “SEC”) on March 4, 2025.
Amplify intends to provide an update on the state of its business, including capital allocation and free cash flow outlook in the current macroeconomic environment, when it announces first quarter earnings. The Company plans to continue to evaluate strategic alternatives to maximize value to stockholders, including potential portfolio optimization strategies.
About Amplify Energy
Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplify’s operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op). For more information, visit www.amplifyenergy.com.
Forward-Looking Statements
This press release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties and other factors that could cause the Company’s actual results or financial condition to differ materially from those expressed or implied by forward-looking statements. Risks and uncertainties that could cause actual results to differ from expectations include: the effects of disruption caused by the announcement of the Termination and the Termination making it more difficult to maintain relationships with employees, customers, vendors and other business partners; the risk that stockholder litigation in connection with the contemplated transaction and the Termination may result in significant costs of defense, indemnification and liability; transaction costs; and actual or contingent liabilities. Please read the Company’s filings with the SEC, including “Risk Factors” in the Company’s Annual Report on Form 10-K, and if applicable, the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are available on the Company’s Investor Relations website at https://www.amplifyenergy.com/investor-relations/default.aspx or on the SEC’s website at http://www.sec.gov, for a discussion of risks and uncertainties that could cause actual results to differ from those in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements in this press release are qualified in their entirety by these cautionary statements. Except as required by law, the Company undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Contacts
Amplify Energy
Jim Frew -- Senior Vice President and Chief Financial Officer
(832) 219-9044
jim.frew@amplifyenergy.com
Michael Jordan -- Director, Finance and Treasurer
(832) 219-9051
michael.jordan@amplifyenergy.com
FTI Consulting
Tanner Kaufman / Brandon Elliott / Rose Zu
amplifyenergy@fticonsulting.com
FAQ
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