$HNRC SPONSORED SPAC STARTS TRADING IN $75 MILLION
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Posted On: 02/14/2022 10:43:39 AM
$HNRC SPONSORED SPAC STARTS TRADING IN $75 MILLION IPO ON NYSE
https://www.prnewswire.com/news-releases/hnrc...81586.html
HOUSTON, Feb. 14, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNRC or the Company"
announced today that its subsidiary Houston Natural Resources, Inc, through its majority owned HNRAC Sponsors, LLC has sponsored a Special Purpose Acquisition Corp, HNR Acquisition Corp ("HNRA" , for an initial public offering listing on the NYSE.
HNRA started trading on Friday February 11, 2022 for its initial public offering of $75,000,000, consisting of 7,500,000 units at $10.00 per unit on the NYSE American ("NYSE American" and trades under the ticker symbol "HNRAU". The initial trading day volume was 7,698,060 units. Each unit consists of one share of common stock and one warrant entitling the holder thereof to purchase three-fourths (3/4) of one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on NYSE American under the symbols "HNRA" and "HNRAW", respectively.
Frank Kristan, President of Houston Natural Resources Corp, stated:
"We would like to congratulate the management team on its successful initial public offering. This validates the company's previously outlined business plan, and we look forward to sponsoring other special purpose acquisition corporations in the energy industry."
HNRA is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While HNRA may pursue an initial business combination target in any business or industry, it 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, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering. HNRA has granted the underwriter a 45-day option to purchase up to an additional 1,125,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, New York 10022, by phone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.
https://www.prnewswire.com/news-releases/hnrc...81586.html
HOUSTON, Feb. 14, 2022 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNRC or the Company"
announced today that its subsidiary Houston Natural Resources, Inc, through its majority owned HNRAC Sponsors, LLC has sponsored a Special Purpose Acquisition Corp, HNR Acquisition Corp ("HNRA" , for an initial public offering listing on the NYSE. HNRA started trading on Friday February 11, 2022 for its initial public offering of $75,000,000, consisting of 7,500,000 units at $10.00 per unit on the NYSE American ("NYSE American"
and trades under the ticker symbol "HNRAU". The initial trading day volume was 7,698,060 units. Each unit consists of one share of common stock and one warrant entitling the holder thereof to purchase three-fourths (3/4) of one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on NYSE American under the symbols "HNRA" and "HNRAW", respectively. Frank Kristan, President of Houston Natural Resources Corp, stated:
"We would like to congratulate the management team on its successful initial public offering. This validates the company's previously outlined business plan, and we look forward to sponsoring other special purpose acquisition corporations in the energy industry."
HNRA is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While HNRA may pursue an initial business combination target in any business or industry, it 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, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering. HNRA has granted the underwriter a 45-day option to purchase up to an additional 1,125,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, New York 10022, by phone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.
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