Past year: ▼ 9%(38.4c – 83.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
17 July 2025capital raising announcement▼ Bad
EON issued White Lion Capital a $600,000 convertible note for $564,000 cash, with a right for White Lion to buy a second identical note by July 11, 2026. The note bears 5% interest, rising to 10% retroactively if the conversion shares aren't registered within six months, and converts at a 10% discount with a $0.25 floor.
23 June 2025capital raising announcement▲ GoodMajor
Bought the South Justis Field leases and wells (Permian Basin, Lea County, New Mexico) for 1 million Class A shares. Also signed a workover services contract with Corsair Well Services covering South Justis and the Grayburg-Jackson field, backed by a $500K cash prepayment and 1 million shares.
17 June 2025capital raising announcement▲ GoodMajor
Amended the February Pogo Royalty agreement for the second time on June 13, extending the outside closing date to September 15, 2025. The ORRI price fell to $13.5M, the seller note settlement to $7M cash, and the share consideration to 1.5M shares from 3M.
9 May 2025capital raising announcement▼ BadMajor
Exchanged $2.9M of the remaining 2023 bridge notes and 3.95M warrants for $6.85M of the same deeply-discounted convertible notes -- by far the largest tranche yet, converting most of the original 2023 bridge financing into toxic long-dated debt.
13 Feb 2025capital raising announcement▲ GoodMajor
Struck a deal to cut the $15M Pogo seller note nearly in half: agreed to buy out a 10% overriding royalty on Pogo's oil and gas assets for $14M cash, while the seller agreed to waive accrued interest, reduce the note to $8M, and settle it for an $8M cash payment -- contingent on the company securing financing to fund it.
7 Feb 2025capital raising announcement▼ BadMajor
Exchanged another $582,500 of 2023 bridge notes and 984,000 warrants, this time from 11 investors, for $1.57M of the same deeply-discounted convertible notes -- the toxic-conversion financing continuing to spread across the bridge-note holder base.
24 Jan 2025capital raising announcement▼ BadMajor
Exchanged $400,000 of 2023 bridge notes and 950,000 warrants held by seven investors for $1.35M of new convertible notes -- convertible at a steeply discounted $0.25 floor or 90% of the lowest recent trading price, a toxic-financing structure that ratchets down further if the company sells stock any cheaper.
21 Oct 2024capital raising announcement▼ BadMajor
Now renamed EON Resources Inc. (ticker EONR), the company issued a wide batch of stock to settle obligations rather than pay cash: severance shares to its former CEO, consulting-fee shares to outside advisors, "thank you" shares to insiders who personally pledged stock to secure FIBT letters of credit, and stock-for-cash settlements of unpaid vendor invoices at $1/share -- a pattern that points to real cash scarcity even as the company adopts its new identity.
20 June 2024capital raising announcement● Neutral
Further eased the mechanics of the White Lion equity line, speeding up "Rapid Purchase" draws to same-day closings -- continued fine-tuning of the company's standing dilutive financing source.
7 Mar 2024capital raising announcement● Neutral
Amended the White Lion equity line to fix commitment-share compensation at 440,000 shares and extend the company's right to draw on the $150M facility to December 2026.
30 Aug 2023capital raising announcement▼ BadMajor
On Aug 28, 2023 the Pogo deal was restructured as an Up-C under an amended agreement. Cash consideration was set at $63M, up to $15M of it payable by seller note and up to $20M by OpCo preferred units if cash fell short, plus 2,000,000 OpCo Class B units and 2,000,000 seller Class B shares.
3 Jan 2023capital raising announcement▲ GoodMajor
HNR Acquisition Corp signed an agreement on Dec 27, 2022 to buy 100% of Pogo Resources, LLC from CIC Pogo LP and its co-sellers. The price was $100M cash, of which up to $15M could be a seller note, plus 2,000,000 shares valued at $10.00 each.
16 Feb 2022capital raising announcement▲ GoodMajor
HNR Acquisition Corp, a blank-check SPAC, completed its IPO -- $86.25M from public units plus a $5.05M private placement to its sponsor, HNRAC Sponsors LLC -- starting the clock to find and close an initial business combination.
