Houston American Stock Price, News & Analysis

Houston American Energy (NYSE American: HUSA) has secured a significant $100 million equity line of credit through a Common Stock Purchase Agreement with an institutional investor. The 24-month agreement allows HUSA to sell shares at its discretion, with a $2 million cap per drawdown at a 4% discount to VWAP.

The Company plans to utilize the proceeds to fund strategic acquisitions, scale operations, and expand its presence in the low-carbon fuels and chemicals sector. The agreement was structured under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D, with HUSA planning to file a registration statement with the SEC for share resale.

Houston American Energy (NYSE American: HUSA) has secured a $5 million Convertible Note from an institutional investor to partially fund the acquisition of a 25-acre site at Cedar Port Industrial Park in Baytown, Texas. The site will be developed into a plastics-to-low-carbon fuels hub.

The Senior Secured Convertible Note includes an 8% Original Issue Discount, resulting in a face amount of $5.4 million, with 7% interest and maturity on July 10, 2026. The Note is convertible at a 10% premium to a look-back price. The total site acquisition cost is expected to be $8.5 million, with closing anticipated in July 2025.

Houston American Energy Corp. (NYSE American: HUSA) has appointed Matthew T. Henninger to its Board of Directors, effective immediately. The appointment follows the company's strategic share exchange with Abundia Global Impact Group (AGIG). Mr. Henninger, who brings over 35 years of investment banking and operational management experience, will serve on both the Audit and Compensation Committees.

Mr. Henninger currently serves as a Managing Partner at BRM Holdings and CEO of Exotropin. He has extensive experience across various industries including consumer products, medical chemicals, industrial manufacturing, and short-line rail transportation. Concurrent with his appointment, Stephen P. Hartzell has resigned from the Board. The Board maintains its composition of five directors, including three independent members.

Houston American Energy (NYSE American: HUSA) has completed the acquisition of Abundia Global Impact Group (AGIG), transforming into a company focused on converting waste plastics into low-carbon fuels and chemical products. The combined entity will be led by AGIG's founder Ed Gillespie as CEO, who joins the Board of Directors alongside Chairman Peter Longo.

The strategic acquisition aims to leverage HUSA's public market platform to accelerate Abundia's growth and scale its proprietary pyrolysis technology. The company plans to develop large-scale recycling projects, with an initial facility planned for the U.S. Gulf Coast. This location was chosen for its strategic advantages, including access to waste feedstock, downstream customers, workforce, and transportation options.

The transaction structure involves AGIG becoming a wholly-owned subsidiary of HUSA through an exchange of AGIG's outstanding membership interests for newly authorized HUSA common stock. The leadership team includes Lucie Harwood as CFO and Joseph Gasik as COO. The combined company targets the growing global market for renewable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks.

Houston American Energy Corp. (NYSE American: HUSA) has announced a registered direct offering of 81,629 shares of common stock at $14.80 per share, aiming to raise approximately $1.2 million in gross proceeds.

The company expects to receive net proceeds of approximately $1 million after deducting placement agent fees and expenses, which will be used for general corporate purposes. The offering is expected to close on June 25, 2025. Univest Securities, LLC will serve as the sole placement agent, receiving an 8.0% fee of the proceeds plus expense reimbursement up to $10,000.

Houston American Energy Corp. (NYSE American: HUSA) has announced a registered direct offering of 223,762 shares of common stock (or pre-funded warrants) at $10.60 per share, aiming to raise approximately $2.37 million in gross proceeds. The company expects to receive net proceeds of about $2.1 million after deducting placement agent fees and expenses, which will be used for general corporate purposes. The offering is expected to close around June 20, 2025. Univest Securities, LLC will serve as the sole placement agent, receiving an 8% fee plus expenses. Additionally, the company has deferred discussions regarding a potential $30 million Equity Line of Credit (ELOC) Agreement, which was previously considered in connection with the Abundia Financial transaction.

Houston American Energy Corp. (NYSE: HUSA) has issued a statement addressing unusual trading activity observed in its common stock on June 12-13, 2025. The company, which focuses on oil and gas development in the U.S. Permian Basin and Louisiana Gulf Coast region, confirmed that there have been no undisclosed material developments in its business operations that could explain the unusual market behavior. After conducting inquiries, HUSA stated it cannot determine if corrective actions are necessary at this time. This announcement was made in compliance with Section 401(d) of the NYSE Company Guide.

Houston American Energy Corp. (NYSE: HUSA) has announced a 1-for-10 reverse stock split to be effective after market close on June 6, 2025. The company's stock will begin trading on a split-adjusted basis on June 9, 2025. This corporate action will reduce HUSA's outstanding shares from approximately 15.7 million to 1.57 million shares.

The reverse split aims to increase the market price per share and help HUSA meet NYSE American's initial listing requirements in connection with its pending acquisition of Abundia Global Impact Group (AGIG). The split was approved by shareholders at a special meeting on April 24, 2025, where they authorized a range of 1-for-5 to 1-for-60 split ratio. Stockholders' percentage ownership will remain unchanged, and fractional shares will be rounded up.

HUSA operates as an independent oil and gas company, primarily focused on development and production in the U.S. Permian Basin and Louisiana Gulf Coast region.

Houston American Energy Corp. (NYSE American: HUSA) held a special stockholders meeting on April 24, 2025, where shareholders overwhelmingly approved the company's proposed acquisition of Abundia Global Impact Group (AGIG) with over 90% of votes in favor. AGIG specializes in converting waste into high-value fuels and chemicals.

The acquisition represents HUSA's strategic move into the renewable energy sector, aiming to diversify its portfolio and expand its global footprint. The company expects to close the AGIG acquisition by the end of Q2 2025. According to CEO Peter Longo, this acquisition positions HUSA in the multi-billion-dollar renewable energy market, providing shareholders with a ready-made platform and project pipeline for future value generation in recycled chemical alternatives and sustainable aviation fuel markets.