Hallador Energy Sells 1M Shares for $1.75M

TL;DR

HNRG sold 1M shares at $1.75, raising $1.75M. Unregistered sale.

AI Summary

Hallador Energy Company announced on June 28, 2024, that it entered into a purchase agreement for the unregistered sale of 1,000,000 shares of its common stock at a price of $1.75 per share. This transaction is expected to raise approximately $1.75 million in gross proceeds for the company.

Why It Matters

This unregistered sale of equity securities could dilute existing shareholders' ownership and indicates the company is seeking capital, potentially for operational needs or expansion.

Risk Assessment

Risk Level: medium — Unregistered sales can signal financial needs and may lead to dilution for existing shareholders.

Key Numbers

• 1,000,000 — Shares Sold (Unregistered sale of common stock)
• $1.75 — Price Per Share (Sale price for common stock)
• $1.75 million — Gross Proceeds (Total funds raised from the sale)

Key Players & Entities

• Hallador Energy Company (company) — Registrant
• 1,000,000 (dollar_amount) — Number of shares sold
• $1.75 (dollar_amount) — Price per share
• $1.75 million (dollar_amount) — Gross proceeds
• June 28, 2024 (date) — Date of purchase agreement

FAQ

Key Financial Figures

• $10,000,000 — ompany, LLC) in the principal amount of $10,000,000 and an Unsecured Convertible Promissory
• $1,000,000 — ts Fund, LLC in the principal amount of $1,000,000 (together, the "Convertible Notes"). On

Filing Documents

• hnrg20240702_8k.htm (8-K) — 22KB
• hnrg20240702_8kimg001.jpg (GRAPHIC) — 2KB
• 0001437749-24-022186.txt ( ) — 156KB
• hnrg-20240628.xsd (EX-101.SCH) — 3KB
• hnrg-20240628_def.xml (EX-101.DEF) — 11KB
• hnrg-20240628_lab.xml (EX-101.LAB) — 15KB
• hnrg-20240628_pre.xml (EX-101.PRE) — 11KB
• hnrg20240702_8k_htm.xml (XML) — 3KB

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. To the extent applicable, the information set forth below in Item 8.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Other Events

Item 8.01 Other Events. As previously reported by Hallador Energy Company (the "Company") in its Current Report on Form 8-K filed on August 11, 2022 and Quarterly Report on Form 10-Q filed on August 15, 2022, the Company is party to an Unsecured Convertible Promissory Note dated August 12, 2022 with ALJ Regional Holdings, Inc. (as subsequently transferred to ALJ Investment Company, LLC) in the principal amount of $10,000,000 and an Unsecured Convertible Promissory Note dated August 8, 2022 with Hallador Alternative Assets Fund, LLC in the principal amount of $1,000,000 (together, the "Convertible Notes"). On June 28, 2024, the holders of the Convertible Notes agreed with the Company to exchange their Convertible Notes (inclusive of accrued interest through maturity) for 1,900,000 shares of the Company's common stock and 190,000 shares of the Company's common stock, respectively. The issuance of the shares is exempt from registration under Section 4(a)(2), Section 3(a)(9) and/or Rule 506(b) of Regulation D as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 2

SIGNATURES

SIGNATURES 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. Hallador Energy Company Date: July 3, 2024 By: /s/MARJORIE HARGRAVE Marjorie Hargrave Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR