Past year: ▲ 28%(4.55 – 8.52 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 June 2026debt financing● NeutralMajor
HighPeak amended both its Fifth Third revolver (June 30, 2026) and its Texas Capital Bank/Chambers term loan (June 25, 2026) so that the maximum Total Net Leverage Ratio allowed for the quarter ending June 30, 2026 is 2.25 to 1.00. The 2023 agreements previously capped this ratio at 2.00x, so the limit has been loosened for that one quarter. The filing does not say why, nor whether any fee was paid or other terms changed (it says 'among other things').
6 May 2026material agreement● NeutralMajor
On May 6, 2026, HighPeak set up an at-the-market programme to sell up to $150 million of new common stock over time through Roth Capital Partners and USCA Securities, at a commission of up to 3%. The company is not required to sell any shares; proceeds are for general corporate purposes, which may include paying or refinancing debt. Any shares sold would dilute existing holders. The filing also furnished first-quarter 2026 results in a press release, but the figures are not in the filing text.
21 Aug 2025listing compliance notice● NeutralMajor
HighPeak Energy, Inc.'s exchange filed to remove a class of its securities from listing.
4 Aug 2025debt financing▲ GoodMajor
On August 1, 2025, HighPeak extended the maturity of both its revolving credit agreement (Fifth Third) and its term loan (Texas Capital/Chambers) to September 30, 2028, from September 30, 2026. The term loan amendment also upsizes borrowings to $1.2 billion and defers the $30.0 million quarterly repayments for one year, so they restart in September 2026. This pushes out the 2026 maturities set in the 2023 financings.
18 Feb 2025dividend declaration● Neutral
The board declared a quarterly dividend of $0.04 per share on February 18, 2025, payable March 25, 2025 to holders of record on March 3, 2025. This is the same rate as the $0.04 declared in February 2024.
2 Apr 2024debt financing▲ Good
On March 29, 2024, HighPeak amended its November 2023 senior revolving credit agreement with Fifth Third Bank, increasing the commitments from $75 million to $100 million. The filing says there were other changes ('among other things') but does not describe them.
5 Feb 2024dividend declaration▲ GoodMajor
On February 5, 2024, the board authorized a share repurchase program of up to $75 million of common stock and declared a quarterly dividend of $0.04 per share, payable March 25, 2024 to holders of record on March 1, 2024. The dividend is up from the $0.025 paid in 2023.
6 Nov 2023debt financing● NeutralMajor
On November 1, 2023, HighPeak signed a new senior revolving credit agreement with Fifth Third Bank as agent: $100 million borrowing capacity, $75.0 million elected commitments, maturing September 30, 2026, at SOFR plus 4.00% to 5.00% (or base rate plus 3.00% to 4.00%). It is secured by a first lien on substantially all assets, with the same 1.50x asset coverage and 2.00x net leverage covenants as the term loan. This is the super-priority revolver the September term loan permitted. The filing also furnished third-quarter 2023 results in a press release, but the figures are not in the filing text.
10 Oct 2023dividend declaration● Neutral
The board declared the regular quarterly dividend of $0.025 per share on October 10, 2023, payable November 22, 2023 to holders of record on November 1, 2023. This continues the existing dividend at an unchanged rate.
15 Sept 2023debt financing▲ GoodMajor
HighPeak signed a new senior secured term loan agreement on September 12, 2023 (closed September 13), with a $1.2 billion commitment capacity, maturing September 30, 2026, at Adjusted Term SOFR plus 7.50%, with Texas Capital Bank as administrative agent and Chambers Energy Management as collateral agent. It replaces the December 2020 Wells Fargo credit facility, which was paid off in full and terminated, and it requires $30 million quarterly repayments from March 31, 2024. The company also gave notice to redeem all of the February 2024 10% notes and the November 2024 10.625% notes on September 14, 2023 (or a later date no later than October 31, 2023) at par plus accrued interest, with the November notes also carrying a premium for interest through November 15, 2023. This resolves the open thread on refinancing the February notes ahead of the September 1 deadline (the notes were called for redemption; completion is not confirmed in this filing). The new loan has covenants requiring asset coverage of at least 1.50x and total net leverage of no more than 2.00x, and allows a super-priority revolver of up to $100 million.
26 July 2023dividend declaration● Neutral
The board declared the regular quarterly dividend of $0.025 per share on July 21, 2023, payable August 25, 2023 to holders of record on August 8, 2023. This continues the dividend at the same rate as the prior quarter.
21 July 2023material agreement▲ GoodMajor
The share offering launched July 18, 2023 priced and closed on July 21, 2023: 12,900,000 new shares sold through Roth Capital Partners, plus a further 1,935,000 shares when the underwriter exercised its option in full on July 20. Net proceeds were about $151.2 million, to be used for working capital and near-term liquidity. Existing holders including the John Paul DeJoria Family Trust and Jack Hightower (and associated entities and individuals) bought about 10 million shares in the offering, at a reduced underwriting discount. This resolves the open question of the offering's size and outcome, and the proceeds exceed the $95 million of net equity proceeds the credit facility required before borrowing could resume (inference from the two figures; the filing does not say the condition was met). Existing shareholders are diluted by the new shares.
18 July 2023debt financing▼ BadMajor
On July 12, 2023, HighPeak signed a Ninth Amendment to its credit facility that waives the June 30, 2023 current ratio test and an account control agreement failure, postpones the borrowing base redetermination to September 2023, and pushes the February notes refinancing deadline (set at June 30, 2023 in March) to September 1, 2023. It also bars further borrowing until at least $95 million of net equity proceeds are received, and raises pricing and hedging requirements. The company launched a public share offering on July 18, 2023 and warned that failing to refinance could trigger acceleration and cross-defaults, that it could not repay all its debt in that case, and that it might sell assets, cut drilling or seek bankruptcy protection, putting equity holders at risk of losing all or part of their interests. Preliminary June 30, 2023 figures show $30.3 million cash, $1,002.4 million total debt ($225.0M February notes, $250.0M November notes, $527.4M on the credit facility), $47.6 million remaining availability, and about $121.3 million of payables due or past due. Q2 2023 production was estimated at 41.0 to 43.0 MBoe/d versus 37.2 MBoe/d in Q1.
11 Apr 2023dividend declaration● Neutral
The board declared another quarterly dividend of $0.025 per share, payable May 25, 2023 to holders of record on May 1, 2023, the same amount as before.
15 Mar 2023debt financing● NeutralMajor
On March 14, 2023, HighPeak signed an Eighth Amendment to its credit facility, raising the borrowing base to $700 million with initial elected commitments of $575 million, and adding Texas Capital Bank as a lender. It limits quarterly dividends to $4.0 million and requires the company by June 30, 2023 to redeem or refinance the 2024 (February) notes, set aside cash flow to retire them by November 30, 2023, or extend their repayment to no earlier than February 15, 2025. This puts a firm deadline on the February notes thread.
11 Jan 2023dividend declaration● Neutral
The board declared another quarterly dividend of $0.025 per share, payable February 24, 2023 to holders of record on February 1, 2023, unchanged from the prior quarter.
12 Dec 2022debt financing● Neutral
On December 12, 2022, HighPeak sold another $25 million of 10.625% senior notes due November 15, 2024, on the same terms as the November notes, for net proceeds of about $23 million for general corporate purposes. This takes the November-series notes to $250 million in total, a figure the July 2023 filing also states.
10 Nov 2022debt financing● NeutralMajor
On November 8, 2022, HighPeak completed a $225 million offering of 10.625% senior unsecured notes due November 15, 2024, with net proceeds of about $200 million. Part of the proceeds reduced the bank credit facility balance, and the rest goes to drilling and development, fees and general purposes. The Notes can be redeemed in full at par from November 15, 2023, and on November 9 the holders of the February 2022 10% notes agreed to a supplement aligning their terms with the new ones. This adds a second layer of unsecured debt alongside the February notes.
4 Nov 2022debt financing● Neutral
On October 31, 2022, HighPeak signed a Sixth Amendment to its credit agreement with Wells Fargo as agent. It changes the notice period tied to the 2024 notes' maturity to 120 days, adds an escrow lien exception, and makes room for a special mandatory redemption of new notes ("Specified Senior Notes"). The filing also says a $225 million private placement of senior notes due 2024 was priced on November 4, 2022, which sets up the November notes deal.
18 Oct 2022debt financing● NeutralMajor
On October 14, 2022, HighPeak amended its bank credit facility (Fifth Amendment), raising the borrowing base to $550 million and elected commitments to $525 million (the Fourth Amendment had set both at $400 million), and replacing Fifth Third Bank with Wells Fargo as administrative agent. The lenders also waived two technical defaults, on minimum hedging for the June 30 and September 30, 2022 quarters and on the current ratio for September 30, 2022. Dividends now need 25% minimum availability instead of 30%, and another borrowing base redetermination is due around December 1, 2022.
11 Oct 2022dividend declaration● Neutral
The board approved another quarterly dividend of $0.025 per share, payable November 23, 2022 to holders of record on November 1, 2022, the same as before.
6 Sept 2022capital raising announcement● NeutralMajor
HighPeak closed the private placement on September 2, 2022, saying it was $85 million of 3.9 million new shares at $21.61, larger than the roughly $61.7 million and 2,855,162 shares in the August 24 filing. Final closings came after the August 22 initial closings, and proceeds are for general corporate purposes.
What it means for a shareholder
3.9m new shares at US$21.61 to raise about US$85.0m. That's 3.4% dilution: every existing holder's slice gets 3.4% smaller. If you held US$1,000 of shares (46 at the issue price), your slice goes from 0.0000424% to 0.0000409% of the company. To keep it you'd need 2 more shares - about US$43 at the issue price.
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24 Aug 2022capital raising announcement● NeutralMajor
On August 22-23, 2022 HighPeak agreed to sell 2,855,162 new shares at $21.61 each to accredited investors in a private placement, for about $61.7 million, to be used for general corporate purposes. Insiders took part: CEO Jack Hightower (462,749 shares), President Michael Hollis (46,276), CFO Steven Tholen (9,255), COO Rodney Woodard (23,138) and the John Paul DeJoria Family Trust (2,313,744), approved under the related-party policy. The new shares dilute existing holders.
What it means for a shareholder
2.9m new shares at US$21.61 to raise about US$61.7m. That's 2.5% dilution: every existing holder's slice gets 2.5% smaller. If you held US$1,000 of shares (46 at the issue price), your slice goes from 0.0000424% to 0.0000413% of the company. To keep it you'd need 1 more shares - about US$22 at the issue price.
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14 July 2022dividend declaration● Neutral
The board approved another quarterly dividend of $0.025 per share, payable August 25, 2022 to holders of record on August 1, 2022, unchanged from earlier quarters.
30 June 2022asset acquisition disposition● NeutralMajor
HighPeak closed the Hannathon acquisition on June 27, 2022 near its Signal Peak area in Howard County for 3,522,117 shares (valued at $97.2 million), $237.4 million cash (subject to final settlement) and about $300,000 of costs; the cash is lower than the $255 million first announced and the share count is lower than the roughly 3.78 million announced, with no reason given in the filing. It also signed a Fourth Amendment raising its Fifth Third bank credit facility borrowing base and elected commitments to $400 million (up from $195 million) and the maximum credit amount to $1.5 billion, and the sellers got registration rights for the new shares.
23 June 2022asset acquisition disposition● NeutralMajor
HighPeak reported the completion of the Flat Top-area acquisition agreed in February: it closed March 25, 2022 for 6,960,000 shares (valued at $156.6 million) and $141,000 cash. A related June 21, 2022 purchase of Borden County assets from Alamo Borden County 1 added 371,517 shares (valued at $11.2 million). In total 7,331,517 shares were issued, below the up to 7,733,333 shares first announced, and the filing says closing adjustments of $1.3 million in cash were paid to the company. Both are subject to final settlement. The filing was made because the combined deals count as a significant acquisition.
27 Apr 2022material agreement● NeutralMajor
On April 26, 2022 HighPeak agreed to buy oil and gas assets in Howard County, Texas from Hannathon Petroleum and other non-operated working interest owners for $255 million in cash plus about 3.78 million new shares, with an effective date of January 1, 2022 and closing expected early in Q3 2022. It also agreed to register the resale of the shares given to the sellers, and the share issue would dilute existing holders.
13 Apr 2022dividend declaration● Neutral
The board approved another quarterly dividend of $0.025 per share, payable May 25, 2022 to holders of record on May 2, 2022. This is the same amount as the previous dividends.
22 Feb 2022capital raising announcement● NeutralMajor
HighPeak closed the $225 million of 10.00% Senior Unsecured Notes due February 15, 2024 on February 16, 2022 (the Notes flagged in the Credit Suisse purchase agreement), with about $207.3 million net proceeds. Part of the proceeds paid off the debt outstanding under its bank credit facility, and the rest is for drilling, development and general purposes. It also agreed to buy oil and gas properties next to its Flat Top area (about 9,500 net acres, about 2,500 barrels of oil equivalent a day, about 40 drilling locations) for up to 7,733,333 new shares plus $4.0 million cash, expected to close in late Q1 / early Q2 2022; the new shares would dilute existing holders.
14 Feb 2022debt financing● NeutralMajor
On February 9, 2022 HighPeak signed a Third Amendment to its Fifth Third credit agreement, alongside a purchase agreement with Credit Suisse Securities as initial purchaser for "Notes" issued by HighPeak Energy Acquisition Corp. The amendment sets a springing maturity of October 1, 2023 if the Notes are not retired or refinanced by then, allows the Notes to be redeemed with refinancing, equity proceeds or cash, and replaces LIBOR with Term SOFR. The Notes' size and terms are not given in this filing. It will take effect on effectiveness, so the bank facility is being adjusted to sit alongside a new note issue.
