HNR Acquisition closed its initial public offering of 7.5 million units at $10 each. Units consist of one share and a warrant good for the purchase of three-fourths of a share at $11.50. The underwriters exercised their over-allotment option in full for an additional 1.125 million units.
The units trade on the NYSE American under the ticker symbol HNRAU. When the securities begin separate trading, shares and warrants are expected to list under the symbols HNRA and HNRAW.
The SPAC intends to focus on assets used in exploring, developing, producing, transporting, storing, gathering, processing, fractionating, refining, distributing or marketing of natural gas, natural gas liquids, crude oil or refined products in North America.
EF Hutton was sole book-running manager for the offering. Read more.
