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HNR Acquisition Corp has successfully closed its initial public offering, selling 7,500,000 units at $10.00 each, which includes one share of common stock and a warrant. The offering, completed on February 11, 2022, raised gross proceeds of $86,250,000. The company focuses on potential business combinations in the energy sector, particularly involving natural gas and crude oil. Going forward, the shares and warrants will trade under the symbols HNRA and HNRAW on the NYSE American.
HNR Acquisition Corp has priced its initial public offering (IPO) at $75 million, consisting of 7.5 million units offered at $10.00 per unit. Trading on NYSE American under the ticker symbol HNRAU will commence on February 11, 2022. Each unit provides shareholders with one common stock share and a warrant to purchase three-fourths of a common share at $11.50. The company targets mergers or acquisitions primarily in the natural gas and oil sectors in North America. EF Hutton is the book-running manager and has an option for an additional 1.125 million units.
