Hightower Group Amends HighPeak Energy Stake

TL;DR

Hightower group updated their HighPeak Energy stake filing. Watch for potential moves.

AI Summary

Jack Hightower, through entities HighPeak Energy Partners II, LP, HighPeak Energy Partners, LP, and HighPeak Pure Acquisition, LLC, has amended their Schedule 13D filing for HighPeak Energy, Inc. as of September 4, 2024. The filing indicates a change in beneficial ownership, with the group now holding a significant stake in the company's common stock.

Why It Matters

This amendment signals a potential shift in control or influence over HighPeak Energy, Inc., which could impact the company's strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can precede significant corporate actions or shifts in strategy, introducing uncertainty.

Key Players & Entities

• Jack Hightower (person) — Filing person and authorized contact
• HighPeak Energy, Inc. (company) — Subject company
• HIGHPEAK ENERGY PARTNERS II, LP (company) — Group member filing beneficial ownership
• HIGHPEAK ENERGY PARTNERS, LP (company) — Group member filing beneficial ownership
• HIGHPEAK PURE ACQUISITION, LLC (company) — Group member filing beneficial ownership

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 (Title of Class of Securities) 43114
• $21.94 — ple transactions at prices ranging from $21.94 to $22.00, inclusive. The weighted aver
• $22 — ctions at prices ranging from $21.94 to $22.00, inclusive. The weighted average pri
• $21 — he weighted average price per share was $21.98, and the aggregate cash consideratio
• $321,000 — te cash consideration was approximately $321,000 with a combination of personal and borr
• $21.67 — ple transactions at prices ranging from $21.67 to $22.00, inclusive. The weighted aver
• $775,000 — te cash consideration was approximately $775,000 with a combination of personal and borr
• $2,894,000 — te cash consideration was approximately $2,894,000 with a combination of personal and borr
• $10.50 — f Common Stock at the purchase price of $10.50 per share with a combination of persona
• $16.36 — ple transactions at prices ranging from $16.36 to $16.75, inclusive. The weighted aver
• $16 — ctions at prices ranging from $16.36 to $16.75, inclusive. The weighted average pri
• $3.7 million — te cash consideration was approximately $3.7 million with a combination of personal and borr
• $16.32 — ple transactions at prices ranging from $16.32 to $16.60, inclusive. The weighted aver
• $4.6 million — te cash consideration was approximately $4.6 million with a combination of personal and borr
• $14.14 — ple transactions at prices ranging from $14.14 to $14.20, inclusive. The weighted aver

Filing Documents

• highd20240904_sc13da.htm (SC 13D/A) — 89KB
• 0001437749-24-028454.txt ( ) — 91KB

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION This Amendment amends and supplements Item 3 of the Schedule 13D to disclose the following: On December 21, 2022, Mr. Hightower purchased 14,601 shares of Common Stock on the open market in multiple transactions at prices ranging from $21.94 to $22.00, inclusive. The weighted average price per share was $21.98, and the aggregate cash consideration was approximately $321,000 with a combination of personal and borrowed funds. On December 22, 2022, Mr. Hightower purchased 35,399 shares of Common Stock on the open market in multiple transactions at prices ranging from $21.67 to $22.00, inclusive. The weighted average price per share was $21.88, and the aggregate cash consideration was approximately $775,000 with a combination of personal and borrowed funds. On January 4, 2023, Mr. Hightower purchased 131,539 shares of Common Stock on the open market in multiple transactions at a price of $22 per share. The aggregate cash consideration was approximately $2,894,000 with a combination of personal and borrowed funds. On July 21, 2023, the Company closed an underwritten offering of 14,835,000 shares of Common Stock (the "July 2023 Offering"). In connection with the July 2023 Offering, Mr. Hightower purchased 952,380 shares of Common Stock at the purchase price of $10.50 per share with a combination of personal and borrowed funds. The Company intends to use the net proceeds from the July 2023 Offering for working capital, including a portion of the currently due accounts discussed in the final prospectus supplement filed with the U.S. Securities and Exchange Commission on July 21, 2023, and to otherwise enhance near-term liquidity. On September 19, 2023, Mr. Hightower purchased 224,001 shares of Common Stock on the open market in multiple transactions at prices ranging from $16.36 to $16.75, inclusive. The weighted average price per share was $16.59, and the aggregate cash consideration was approximately $3.7 mi

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 4, 2024 By: /s/ Jack Hightower Name: Jack Hightower HIGHPEAK ENERGY PARTNERS, LP By: HighPeak Energy Partners GP, LP its general partner By: HighPeak GP, LLC its general partner By: /s/ Jack Hightower Name: Jack Hightower Title: Chief Executive Officer HIGHPEAK ENERGY PARTNERS II, LP By: HighPeak Energy Partners GP II, LP its general partner By: HighPeak GP II, LLC its general partner By: /s/ Jack Hightower Name: Jack Hightower Title: Chief Executive Officer HIGHPEAK PURE ACQUISITION, LLC By: /s/ Jack Hightower Name: Jack Hightower Title: Chief Executive Officer

View Full Filing

View this SC 13D/A filing on SEC EDGAR