HNRC SPONSORED SPAC CLOSES $86.25
MILLION IPO ON NYSE
HOUSTON, TX -- February 17, 2022
-- InvestorsHub NewsWire -- Houston Natural
Resources Corp. (OTC:
HNRC) ("HNRC or the Company") announced today that its
subsidiary Houston Natural Resources, Inc, through its majority
owned HNRAC Sponsors, LLC has sponsored a Special Purpose
Acquisition Corp, HNR Acquisition Corp ( "HNRA"), has closed its
initial public offering listing on the NYSE with aggregate proceeds
of $86,250,000 including the underwriters exercising their
The HNRA initial public offering of $75,000,000, consisting
of 7,500,000 units at $10.00 per unit on the NYSE American ("NYSE
American") and trades under the ticker symbol "HNRAU". The HNRA
underwriter purchased an additional 1,125,000 units at the initial
public offering price for an additional $11,250,000 and a total of
$86,250,000, prior to deducting
underwriting discounts, commissions, and other offering expenses.
According to the HNRA registration statement HNRAC Sponsors, LLC
owns 359,375 HNRA common shares.
Each HNRA unit consists of one share of common stock and one
warrant entitling the holder thereof to purchase three-fourths
(3/4) of one share of common stock at a price of $11.50 per share.
Only whole warrants are exercisable. Once the securities comprising
the units begin separate trading, the shares of common stock and
warrants are expected to be listed on NYSE American under the
symbols "HNRA" and "HNRAW", respectively. The NYSE quote for HNRA.U
is available at the following link (https://bit.ly/3GTG3Dl).
HNRA is a newly organized blank check company formed for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization, or similar business
combination with one or more businesses. While HNRA may pursue an
initial business combination target in any business or industry, it
intends to focus on assets used in exploring, developing,
producing, transporting, storing, gathering, processing,
fractionating, refining, distributing or marketing of natural gas,
natural gas liquids, crude oil or refined products in North
America. EF Hutton, division of Benchmark Investments, LLC, is
acting as the sole book running manager for the
The offering is being made only by means of a prospectus.
Copies of the prospectus may be obtained, when available, from EF
Hutton, division of Benchmark Investments, LLC, Attn: Syndicate
Department, 590 Madison Avenue, 39th Floor, New York, New York
10022, by phone at (212) 404-7002, by fax at (646) 861-4697, or by
email at firstname.lastname@example.org.
A registration statement relating to these securities has
been filed with, and declared effective by, the Securities and
Exchange Commission ("SEC"), on February 10,
2022. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. This press
release contains statements that constitute "forward-looking
statements," including with respect to the HNRA's initial public
offering and the anticipated use of the net proceeds thereof.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of HNRA, including those set forth
in the Risk Factors section of
HNRA's registration statement and final prospectus for the
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. HNRA undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
About Houston Natural Resources
Houston Natural Resources Corp (www.HoustonNaturalResources.com)
The Company is dedicated to increasing shareholder value through
developing natural resources with state-of-the-art innovative
technologies in tandem with sustainable environmental services of
toxic oil field waste disposal and recycling that are
environmentally safe and socially
Worldwide Diversified Holdings,
The company is a diversified holding company with business operations and investments.
The portfolio companies include investments in information technology and
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties.
Houston Natural Resources Corp.
Houston Texas USA.
Phone: (757) 707-4563