HALLADOR ENERGY CO 8-K

What Happened

• Hallador Energy Company (HNRG) entered an underwriting agreement on January 13, 2026 with TCBI Securities, Inc. (Texas Capital Securities) as representative of the underwriters and closed the offering on January 15, 2026.
• The Company sold 2,777,778 firm shares and the underwriters exercised a full 30-day option for 416,666 additional shares, for a total of 3,194,444 shares issued. Net proceeds to the company were approximately $53.6 million after underwriting discounts, commissions and offering expenses.
• Separately, Hallador delivered written notice on January 13, 2026 to terminate its prior At Market Issuance Sales Agreement with B. Riley Securities, Inc., effective January 18, 2026. That ATM program had authorized up to $100.0 million in sales; the Company reported no termination penalties.

Key Details

• Total shares issued: 3,194,444 (2,777,778 firm + 416,666 option shares).
• Net proceeds from the Offering: approximately $53.6 million (after fees and expenses).
• Underwriter/representative: TCBI Securities, Inc. (doing business as Texas Capital Securities).
• ATM termination effective date: January 18, 2026; original ATM registration (Form S-3, File No. 333-273327) authorized up to $100 million.

Why It Matters

• The company raised a material amount of capital (≈$53.6M), which affects liquidity and balance sheet flexibility. Investors should note the issuance of 3,194,444 new shares, which is dilutive to existing shareholders.
• Terminating the ATM program means Hallador will no longer sell shares on an at-the-market basis under the prior agreement, shifting near-term issuance activity to this underwritten offering instead of incremental ATM sales.