HighPeak Energy Secures $450 Million in Preferred Stock Sale and $800 Million Debt Commitment

HighPeak Energy, Inc. (HPK) announced it entered into Securities Purchase Agreements to sell 450,000 shares of a newly created Series A 6.0% Perpetual Convertible Preferred Stock to PT Danantara Energy International and PT Tunas Harapan Perkasa, totaling approximately $450 million. Additionally, the company secured an $800 million debt commitment letter with Citigroup, N.A. and Fifth Third Bank, National Association for the refinancing of its revolving credit agreement.