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HNR Acquisition Corp.

HNRA · NYSE

Trust settledEON Resources Inc. · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from Pogo Royalty, LLC, listed on NYSE in February 2022.
What it's doing now
It agreed to buy EON Resources Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
EON Resources Inc.
Industry
the deal record does not name the target's industry yet
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
14 February 2022
size not on file
Headquarters
3730 KIRBY DRIVE, SUITE 1200, HOUSTON, TX, 77098
registered in Delaware
Lead underwriter
not extracted from the prospectus yet
Key officers
Salvucci Joseph V Jr (Director) · Salvucci Joseph V Sr (Director) · Williams Mark (VP of Finance and Admin)
Listed securities
HNRA common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

1 dated milestone

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 14 February 2022IPOpassed

    IPO size not on file

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

The score

deterministic, from filed fields

HNRA is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

HNR Acquisition Corp. was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker HNRA (SEC CIK 0001842556) and was classified under SIC code 1311, Crude Petroleum & Natural Gas. The company priced its initial public offering on February 14, 2022, under SEC file number 333-252548, an S-1 registration (accession 0001213900-21-005309) of shares sold for cash, with the pricing prospectus filed as 424B4 (accession 0001213900-22-007637), in which the registrant described itself as a blank-check company. The HNRA ticker appears on the cover page of a Form 8-K filed March 16, 2022 (accession 0001213900-22-012942). The vehicle's lifecycle is closed: a Form 25 (accession 0001143313-22-000023) was filed on April 4, 2022 under 17 CFR 240.12d2-2(a)(3), indicating that the units, each consisting of one share of common stock and one redeemable warrant, had come to evidence other securities in substitution therefor. EDGAR now files this CIK under the name EON Resources Inc.

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • DEF 14A15 September 20250001213900-25-087677opens on sec.gov in a new tab

    Financing the company by issuing warrants to its own chief financial officer in exchange for $100,000 and a promissory note is a related-party funding arrangement at a scale that shows how tight liquidity was - $100,000 is a rounding error for a listed oil and gas company. That the officer received private-placement-equivalent warrant terms puts him alongside the sponsor rather than the public holders. The HNRA trust was released at the de-SPAC.

  • DEF 14A21 March 20250001213900-25-025710opens on sec.gov in a new tab

    Exchanging debt for convertible notes and stock above the 19.99% threshold means creditors are being paid in equity that existing HNRA-legacy holders fund through dilution. The exchange structure is what companies use when cash cannot service the obligations, so the vote is effectively a solvency measure dressed as a listing-rule formality. A one-third quorum makes passage easy even on light turnout, and there is no trust or redemption right left as an alternative.

  • DEF 14A13 November 20240001213900-24-097304opens on sec.gov in a new tab

    Describing the issuance as not merely potential but likely tells holders the equity line is the funding plan rather than a backstop, and approval removes the 19.99% ceiling on how much of the company White Lion can end up holding. The listing itself is at stake in two securities — Class A stock trades on NYSE American as EONR and the redeemable public warrants as EONR WS. The sponsor's original economics are also disclosed: HNRAC Sponsors LLC bought 505,000 private placement units to keep $10.30 per share in trust.

  • DEFM14A13 October 20230001013762-23-003769opens on sec.gov in a new tab

    The $63,000,000 minimum cash requirement is the hurdle redemptions can defeat, and the structure already concedes that only $33,000,000 need be actual cash, with the balance financed through a seller note and preferred units that rank ahead of common. That means the combined company starts leveraged and with a preferred layer above public holders. Closing is further conditioned on redemptions not dropping net tangible assets below the charter threshold, so a heavy redemption at this meeting can terminate the transaction and return holders to a liquidation posture.

  • PREM14A14 February 20230001213900-23-011406opens on sec.gov in a new tab

    Two features cut against that headline. Up to $15,000,000 of the cash may be paid by a Seller Promissory Note rather than in immediately available funds, and 500,000 of the 2,000,000 consideration shares are placed in escrow for the Company's benefit at Closing. The Effective Time is backdated by contract: it is defined as 12:01 a.m. on the first day of the calendar month four months prior to the calendar month of the Closing Date. The Base Purchase Price is also subject to adjustment in accordance with the agreement.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPOnot extracted from the prospectus

from 424B3 0001213900-25-077409

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Crude Petroleum & Natural Gas (1311)
Registered inDelaware
Exchange · CIKNYSE · 0001842556

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

8 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

36 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail4 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

HNRA — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 1311 (Crude Petroleum & Natural Gas). The screen found it by filing SHAPE instead — S-1 2021-01-29 → 8-A12B 2022-02-09 → 424B4 2022-02-14 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 1311 + self-described blank check in 424B4 0001213900-22-007637; 424B 0001213900-22-007637 priced 2022-02-14 under S-1 0001213900-21-005309 (file 333-252548, an offering for cash); common ticker HNRA off 8-K 0001213900-22-012942 (2022-03-16); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-252548, which belongs to S-1 0001213900-21-005309 (2021-01-29) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2022-02-14). Ending PROVEN, not inferred: CLOSED per Form 25 0001143313-22-000023 (2022-04-04) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Units, each consisting of one share of Common Stock, and one redeemable Warrant). EDGAR now files this CIK as "EON Resources Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

SPONSOR-ID2026-08-14

sponsor "Pogo Royalty, LLC" (SEC CIK 0002001635) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-23-089917.

Deal — EON Resources Inc.
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0001842556 records "HNR Acquisition Corp." ending 2024-09-16; the registrant continues as "EON Resources Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2024-09-16. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] minCashM=63 from primary filings (0001013762-23-003769).

PROFILE-STUB2026-08-25

entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read

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