Form 4: Pogo Royalty, LLC Sells Shares of HNR Acquisition Corp.

Pogo Royalty, LLC, a 10% owner of HNR Acquisition Corp., sold 8,978 shares of Class A Common Stock at a weighted average price of $1.5132 on September 5, 2024.

Summary

• On September 5, 2024, Pogo Royalty, LLC sold 8,978 shares of HNR Acquisition Corp.'s Class A Common Stock.
• The shares were sold at a weighted average price of $1.5132, with individual transactions ranging from $1.50 to $1.57.
• Following the transaction, Pogo Royalty, LLC beneficially owns 2,001,022 shares of Class A Common Stock.
• Pogo Royalty also holds 1,800,000 shares of Class B Common Stock and an equivalent number of HNRA Upstream, LLC Class B Units, which are exchangeable for 1,800,000 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine disclosure of a share sale by a major shareholder. The impact depends on the market's interpretation of the reasons behind the sale.

Negatives

• Pogo Royalty, LLC, a significant shareholder, has reduced its holdings in HNR Acquisition Corp.

Risks

• Further sales by Pogo Royalty, LLC could put downward pressure on the stock price.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or major shareholders trade shares of a publicly traded company. These filings are closely watched by investors for insights into management's and major shareholders' perspectives on the company's stock.

Stakeholder Impact

• Shareholders may react to the news of the share sale, potentially impacting the stock price.

Key Dates

Keywords

HNRA, HNR Acquisition Corp, Pogo Royalty LLC, Class A Common Stock, Share Sale, Beneficial Ownership, Form 4