EON Resources (EONR) announced that on June 13, the company amended the Purchase, Sale, Termination and Exchange Agreement dated February 10, 2025 with Pogo Royalty. Closing on the terms of the amendment will result in further improvement to the restructuring of EON’s balance sheet by reducing the total cash obligation of the company to seller by $1.5M, from $22.0M down to $20.5M, and reducing the stock issuance consideration to seller by 1.5M shares of Class A common stock, down from 3.0M Class A shares, the company stated. The agreement, as amended, is subject to various closing conditions, including, without limitation, that the company obtain adequate financing to fund the cash consideration portion, and that the agreement shall terminate if the closing does not take place by September 15, the company noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EONR:
- EON Resources Inc trading halted, news pending
- Eon Resources Inc. Earnings Call: Challenges and Growth Plans
- EON Resources price target lowered to $2 from $4.50 at D. Boral Capital
- Eon Resources Inc. Reports Improved Earnings and Revenue Growth
- EON Resources Reports Improved Q1 2025 Financial Results