E&P blank check company files for $100 million IPO

HNR Acquisition, a blank check company, has filed for an Initial Public Offering (IPO). It has its head office in the Greenway Plaza area of Houston.



The company plans to raise $100 million. Its sponsor and current 100% stockholder is Houston Natural Resources (HNR).  Its founder and CEO, Donald Goree, will also be the CEO of the blank check company.

HNR is currently involved in the recycling and remediation of oil-produced contaminates. It trades over-the-counter and has a market capitalization of $46 million. The company is currently completing two years of audited statements and has not yet filed to become an SEC reporting company.

The blank check company intends to focus on acquiring a business involved in exploration and production.

Kingswood Capital Markets is the sole bookrunner on the deal.

If HNR Acquisition completes its IPO, it will be the 8th Houston-area blank check company. Last week, one of those, Landcadia Holdings III announced a a proposed reverse takeover with The Hillman Group.

S1 filing – HNR Acquisition Corp

 

Leave a Reply

Your email address will not be published. Required fields are marked *