Following the sale, Pogo Royalty, LLC retains ownership of 1,071,897 shares of Class A Common Stock, along with 500,000 shares of Class B Common Stock. These Class B shares, along with an equivalent number of HNRA Upstream, LLC Class B Units, are exchangeable for an equal number of Class A shares. The transactions were executed on January 8, 2025, and the filing was signed by Bayard Friedman, an authorized person for the involved entities. With a market capitalization of $10.48 million, analysts maintain a Strong Buy rating on EONR with price targets ranging from $3.50 to $4.50. Get complete valuation analysis and more with InvestingPro. With a market capitalization of $10.48 million, analysts maintain a Strong Buy rating on EONR with price targets ranging from $3.50 to $4.50. Get complete valuation analysis and more with InvestingPro.
Following the sale, Pogo Royalty, LLC retains ownership of 1,071,897 shares of Class A Common Stock, along with 500,000 shares of Class B Common Stock. These Class B shares, along with an equivalent number of HNRA Upstream, LLC Class B Units, are exchangeable for an equal number of Class A shares. The transactions were executed on January 8, 2025, and the filing was signed by Bayard Friedman, an authorized person for the involved entities.
In other recent news, EON Resources Inc. has been making significant moves in its corporate governance and financial decisions. The oil and natural gas company recently held its annual stockholder meeting, where key proposals were approved, including the election of two Class I Directors, Dante Caravaggio and Joseph Salvucci, Jr., to its Board of Directors. Stockholders also ratified the appointment of Marcum LLP as the independent registered public accounting firm and approved the issuance of shares of Class A Common Stock to White Lion Capital, LLC.
The company has also amended its bylaws to reduce the quorum needed for stockholder meetings to one-third of the voting power of the shares issued, outstanding, and entitled to vote. This change aims to facilitate the conduct of meetings and the passage of resolutions. Furthermore, EON Resources has executed a series of unregistered sales of equity securities, issuing shares to various individuals and entities, including former executives and service providers.
These recent developments reflect the stockholders’ support for the company's direction and governance. The company continues its operations under the guidance of its newly re-elected board members and with the backing of its stockholders for its strategic financial decisions.
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