Battalion Oil announces amendment to merger agreement with Fury Resources

Battalion Oil “announced that it has entered into an amendment to the previously disclosed Agreement and Plan of Merger with Fury Resources, Inc., pursuant to which Parent has agreed to acquire all of the outstanding shares of Common Stock of the Company for $7.00 per share in cash, without interest. The holders of all of the outstanding shares of the Preferred Stock of the Company, Luminus Management, LLC, Gen IV Investment Opportunities, LLC, and funds and accounts managed by Oaktree Capital Management, L.P. , or their respective affiliates, have agreed to contribute to Buyer all of their shares of Preferred Stock of the Company in exchange for new preferred shares of Buyer at a valuation based on the redemption value of such Company Preferred Stock. The transaction is expected to close in the fourth quarter of 2024, subject to various closing conditions as set forth in the Merger Agreement, including the approval of Battalion’s stockholders.”