Battalion Oil Corporation Announces Termination of Merger Agreement with Fury Resources, Inc. and Provides Operations Update
Battalion Oil Corporation (BATL)
Company Research
Source: GlobeNewswire
Houston, Texas, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) announced today that it has terminated the previously disclosed Agreement and Plan of Merger (as amended, the “Merger Agreement”) with Fury Resources, Inc. (“Buyer” or “Fury”). As of this morning, Fury was not able meet the obligations and close the transaction contemplated by the Merger Agreement. Over the past year, in order to facilitate the transaction, the Company and Fury entered into numerous amendments to the terms of the Merger Agreement. In support of the transaction, the holders of all of the outstanding shares of the preferred equity of the Company, Luminus Management, LLC, Gen IV Investment Opportunities, LLC, and funds and accounts managed by Oaktree Capital Management, L.P., or their respective affiliates, had agreed to contribute to Buyer 100% of their preferred equity of the Company in exchange for new preferred shares of Buyer. Despite t
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News
- Battalion Oil Corporation Announces Termination of Merger Agreement with Fury Resources, Inc. and Provides Operations Update [Yahoo! Finance]Yahoo! Finance
- Battalion Oil Corporation Announces Third Quarter 2024 Financial and Operating ResultsGlobeNewswire
- Battalion Oil: +5% Arbitrage Spread With Short Timeline [Seeking Alpha]Seeking Alpha
- Battalion Oil: The Acquisition Attempt By Fury Resources May Finally Go Through [Seeking Alpha]Seeking Alpha
BATL
Sec Filings
- 12/20/24 - Form 8-K
- 11/26/24 - Form 8-K
- 11/22/24 - Form 4
- BATL's page on the SEC website