HPR - Bonanza Creek Energy and HighPoint Resources expects to close merger on Apr.1
Bonanza Creek Energy (BCEI) and HighPoint Resources (HPR) announced that they expect to close the earlier announced merger on Apr.1, 2021.Based on the number of shares of HighPoint common stock outstanding as of the date of the Merger Agreement, the transaction implies an exchange ratio of 0.114 shares of Bonanza Creek common stock for each share of HighPoint.Each share of HighPoint common stock will receive Bonanza Creek common stock (or cash in lieu of fractional shares) with a value of $4.15.Bonanza Creek expects to file a Form 8-K in conjunction with the closing on April 1 and issue a press release on Apr.5, announcing 2021 guidance for the combined company.In premarket, HPR shares trade 9.7% down while BCEI trades 1.9% higher.
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Bonanza Creek Energy and HighPoint Resources expects to close merger on Apr.1