IPO - EON Resources Inc.

Form Type: CORRESP

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: New

Accession Number: 000121390025008838

Filing Summary: EON Resources Inc. submitted a request to the Securities and Exchange Commission for the effectiveness of its registration statement on Form S-1. The company is seeking to have this statement declared effective at 4:00 p.m. Eastern Time on February 4, 2025. The letter notes that while the declaration of effectiveness is anticipated, it does not negate the Commission's authority to take action on the statement. Furthermore, the company acknowledges its responsibility for the adequacy and accuracy of the statement's disclosure and cannot use any staff comments as a defense against any actions initiated by the Commission or other parties under federal securities laws. The correspondence includes contact information for Matthew Ogurick, the company’s legal counsel.

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Form Type: S-1

Filing Date: 2025-01-24

Corporate Action: Ipo

Type: New

Accession Number: 000121390025006090

Filing Summary: EON Resources Inc. filed a registration statement on Form S-1 for the public offering of up to 5,079,050 shares of its Class A Common Stock. The offering includes 5,000,000 shares under a common stock purchase agreement with White Lion Capital, LLC, 69,050 shares issued in exchange for forgiving accounts payable, and 10,000 shares for targeting and research services. The last reported sale price of Class A Common Stock before filing was $1.38, and if all shares are sold, they would represent approximately 28.4% of the total 12,895,544 shares outstanding. EON Resources is an emerging growth company and has not conducted any prior public offerings under its new name. The registration aims to facilitate sales of the shares by existing securityholders without EON selling any of its own shares, although White Lion may purchase shares based on market prices. The document also outlines various transactions and agreements leading to this registration statement, including an acquisition finalized on November 15, 2023, through the amended Membership Interest Purchase Agreement (MIPA). EON Resources transitioned from HNR Acquisition Corp., with its securities traded on the NYSE American under the symbols 'EONR' for Class A Common Stock and 'EONR WS' for Public Warrants. Proceeds from the prior Common Stock Purchase Agreement stood at approximately $145.1 million. New investors and the selling securityholders face risks, with guidance for reviewing risk factors detailed.

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