Amplify Energy, Juniper Capital announce termination of merger agreement

Amplify Energy (AMPY) announced that the company and Juniper Capital Advisors have entered into a mutual termination agreement to terminate the previously announced Agreement and Plan of Merger in light of the extraordinary volatility in the market. In accordance with the terms of the Termination Agreement, Juniper is receiving a cash payment of $800,000 in lieu of any termination fee which might have been otherwise payable pursuant to the Merger Agreement. In view of the Termination, Amplify also announced its decision to cancel its special meeting of stockholders and the withdrawal from consideration by the company’s stockholders of the proposals set forth in the company’s definitive proxy statement, as amended, filed with the SEC on March 4. Amplify intends to provide an update on the state of its business, including capital allocation and free cash flow outlook in the current macroeconomic environment, when it announces first quarter earnings. The company plans to continue to evaluate strategic alternatives to maximize value to stockholders, including potential portfolio optimization strategies.