FORT WORTH, Texas, April 12, 2018 (GLOBE NEWSWIRE) -- Pure Acquisition Corp. (NASDAQ:PACQU), an energy-focused special purpose acquisition company sponsored by an affiliate of HighPeak Energy Partners, LP and formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, today announced the pricing of its initial public offering of 36,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market and trade under the ticker symbol “PACQU” beginning April 13, 2018. Each unit consists of one share of the Company’s Class A common stock and one-half of one warrant, each whole warrant enabling the holder thereof to purchase one whole share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ Stock Market under the symbols “PACQ” and “PACQW,” respectively.

The Company has granted the underwriters a 45-day option to purchase up to an additional 5,400,000 units at the initial public offering price to cover over-allotments, if any.

The offering is expected to close on April 17, 2018, subject to customary closing conditions.

Oppenheimer & Co. and EarlyBirdCapital, Inc. acted as Joint Bookrunning managers of the offering and I-Bankers Securities, Inc. served as Co-manager.

About Pure

Pure Acquisition Corp. is a newly organized blank check company formed under the laws of the State of Delaware for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. Pure intends to focus its search on businesses in the energy industry with an emphasis on opportunities in the upstream oil and gas industry in North America where its management team’s networks and experience are suited although its efforts to identify a prospective target business will not be limited to a particular industry or geographic region.