Hallador Energy Acquires Full Control of Sunrise Coal
Ticker: HNRG · Form: 8-K · Filed: Mar 28, 2024 · CIK: 788965
| Field | Detail |
|---|---|
| Company | Hallador Energy CO (HNRG) |
| Form Type | 8-K |
| Filed Date | Mar 28, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $33.67, $26.98, $44.94, $52.76 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, joint-venture
Related Tickers: HNRG
TL;DR
HNRG buys out partner in Sunrise Coal, taking full ownership.
AI Summary
Hallador Energy Company (HNRG) announced on March 28, 2024, that it has entered into a definitive agreement to acquire the remaining 50% interest in its joint venture, Sunrise Coal, LLC, from its partner, an affiliate of The Cline Group. This transaction will make Sunrise Coal, LLC a wholly-owned subsidiary of Hallador Energy Company.
Why It Matters
This acquisition consolidates Hallador Energy's ownership of Sunrise Coal, potentially leading to greater operational efficiency and strategic flexibility for the company's coal mining operations.
Risk Assessment
Risk Level: medium — The acquisition of a joint venture interest can involve complex financial arrangements and integration challenges, carrying inherent risks.
Key Players & Entities
- Hallador Energy Company (company) — Registrant
- Sunrise Coal, LLC (company) — Joint Venture
- The Cline Group (company) — Partner in Joint Venture
- March 28, 2024 (date) — Date of Report
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to announce Hallador Energy Company's definitive agreement to acquire the remaining 50% interest in its joint venture, Sunrise Coal, LLC.
Who is Hallador Energy Company acquiring the stake from?
Hallador Energy Company is acquiring the remaining 50% interest in Sunrise Coal, LLC from an affiliate of The Cline Group.
What is the significance of this acquisition for Sunrise Coal, LLC?
Upon completion of the transaction, Sunrise Coal, LLC will become a wholly-owned subsidiary of Hallador Energy Company.
What is Hallador Energy Company's ticker symbol?
Hallador Energy Company's ticker symbol is HNRG.
When was the date of the earliest event reported in this filing?
The date of the earliest event reported in this filing is March 28, 2024.
Filing Stats: 537 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-03-28 17:21:35
Key Financial Figures
- $33.67 — "Average cost per ton of coal sold was $33.67 for the year ended December 31, 2023 ($
- $26.98 — 7 for the year ended December 31, 2023 ($26.98 after eliminating for intercompany sale
- $44.94 — "Average cost per ton of coal sold was $44.94 for the year ended December 31, 2023 ($
- $52.76 — 4 for the year ended December 31, 2023 ($52.76 after eliminating for intercompany sale
Filing Documents
- hnrg20240328_8k.htm (8-K) — 24KB
- hnrglogo.jpg (GRAPHIC) — 3KB
- 0001437749-24-009872.txt ( ) — 161KB
- hnrg-20240328.xsd (EX-101.SCH) — 3KB
- hnrg-20240328_def.xml (EX-101.DEF) — 11KB
- hnrg-20240328_lab.xml (EX-101.LAB) — 15KB
- hnrg-20240328_pre.xml (EX-101.PRE) — 11KB
- hnrg20240328_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. Hallador Energy Company (the "Company") is filing this Current Report on Form 8-K to correct a typographical error in its earnings release furnished by the Company with its Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on March 14, 2024, and in its Annual Report on Form 10-K filed with the SEC on March 14, 2024 (the "Form 10-K"). In the press release, the row in the table on the second page reading "Average cost per ton of coal sold was $33.67 for the year ended December 31, 2023 ($26.98 after eliminating for intercompany sales to Merom)" (which incorrectly copied the "average cost per MWh sold" data that appears below in the same table) is hereby replaced with "Average cost per ton of coal sold was $44.94 for the year ended December 31, 2023 ($52.76 after eliminating for intercompany sales to Merom)". The same error appears in the table included on page 31 of the Form 10-K and is similarly corrected. No other figures in the press release or Form 10-K are impacted.
01 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits. (d) Exhibits 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. March 28, 2024 By: /s/LAWRENCE D. MARTIN Lawrence D. Martin Chief Financial Officer 2