Milbank LLP represented PT Energi Mega Persada Tbk (“EMP”) in connection with its agreement with HighPeak Energy, Inc. (NASDAQ: HPK). The transaction involves EMP’s $200 million subscription for newly issued convertible preferred stock of HighPeak. Under the agreed terms, the preferred stock may be converted into HighPeak common stock in accordance with the applicable conversion provisions.
HighPeak is a publicly traded crude oil and natural gas company headquartered in Fort Worth, Texas. The company focuses on hydrocarbon development and exploration in the Midland Basin, West Texas.
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The Milbank team was led by Global Corporate/M&A partners Iliana Ongun, Scott W. Golenbock and Jacqueline Chan and Energy and Infrastructure partner David Zemans.
The deal team also included Energy and Infrastructure partner James Murray; Corporate Finance and Securities partner Terrence O'Donnell; Global Corporate/M&A associates Charlie Rosenthal, Wei Sheng Lee and Jordan Pool; Tax partners Andrew Walker and Stuart Alter and special counsel Michael Rivkin; Antitrust partner Fiona Schaeffer and special counsel Alexis Brown-Reilly; Global Risk & National Security partner John Beahn and associates Clayton Melton and Edward Rastgoo; Executive Compensation and Employee Benefits partner Kelly Bartley and associate Joo Hyeon Lee; Environmental partner Matthew Ahrens and associate Allison Sloto; and Intellectual Property special counsel John Garces.
