Note 14 - Stockholders' Equity (Successor)

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

14.

S

tock

holders' Equity (Successor)

At

September 30, 2020,

the Company has

91,592,354

shares of common stock outstanding,

10,538,188

warrants outstanding with an exercise price of

$11.50

per share that expire on

August 21, 2025

and

10,209,300

CVRs outstanding that give the holders a right to receive up to

2.125

shares of HighPeak Energy common stock per CVR in order to satisfy the Preferred Returns (with an equivalent number of shares of Company common stock held by HighPeak I and HighPeak II being collectively forfeited in connection therewith).  As such, HighPeak I and HighPeak II have placed a total of

21,694,763

shares of common stock of the Company in escrow.