Why HighPeak Energy Shares Are Tumbling Wednesday
Portfolio Pulse from Adam Eckert
HighPeak Energy Inc (NYSE:HPK) shares are trading lower after the company announced the pricing of its public offering at $10.50 per share. The company expects to generate gross proceeds of $135.5 million, which will be used for working capital and to enhance its near-term liquidity position. The offering is expected to close on July 21.
July 19, 2023 | 12:38 pm
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HighPeak Energy's stock price is expected to be negatively impacted in the short term due to the lower pricing of its public offering.
The company's decision to price its public offering at $10.50 per share, which is lower than the current trading price, has led to a decrease in the stock price. This is likely to continue in the short term as the market adjusts to the new share price.
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