Advises HighPoint Resources creditors on the merger of their company with Bonanza Creek Energy, as per our platform Gump.
In a significant move, Bonanza Creek Energy, Inc. and HighPoint Resources Corporation have entered into a merger agreement. The estimated value of the merger, as of November 6, 2020, is approximately $376 million.
The law firm Gump Strauss Hauer & Feld LLP has been appointed as the legal advisor in this connection. Gump, founded in 1945, is celebrating its 75th anniversary this year and is a leading international law firm with a global presence. The firm has offices throughout the United States, Europe, Asia, and the Middle East, and boasts over 900 lawyers and advisors.
In this particular case, a team from Gump served as legal advisor to an informal group of HighPoint Noteholders. The team included financial restructuring partners Michael Stamer and Meredith Lahaie, as well as corporate partners Stephen Kuhn and John Goodgame.
Upon completion of the transaction, HighPoint noteholders will receive shares representing approximately 30.4 percent of the combined company. In addition, they will also receive up to $100 million of newly issued 7.50 percent senior unsecured notes due 2026.
HighPoint Resources Corporation, founded in 2012, has a diverse geographical distribution of offices, much like its legal advisor. The firm's offices are spread across multiple continents, reflecting its international reach and capabilities.
The merger is expected to create a stronger, more competitive entity in the energy sector. More details about the merger will be released in due course.
This marks another successful milestone for Gump Strauss Hauer & Feld LLP, demonstrating its expertise in complex transactions and its commitment to delivering exceptional legal services.
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