UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
Securities Purchase Agreement for Registered Direct Offering
On June 24, 2025, Houston American Energy Corp. (the “Company”) entered in a securities purchase agreement (the “Securities Purchase Agreement”) with the purchaser identified therein, pursuant to which the Company agreed to issue and sell 81,629 shares of the Company’s common stock (the “Offering Shares”) at a purchase price of $14.80 per share in a registered direct offering (the “Offering”). The Company received approximately $1.2 million in gross proceeds from the Offering, before deducting placement agent fees and estimated offering expenses.
The Offering was made pursuant to a shelf registration statement on Form S-3 (Registration File No. 333- 282778), which was filed with the U.S. Securities and Exchange Commission (the “Commission”) on October 22, 2024, and amended by Amendment No. 1 thereto, which was filed with the Commission on October 31, 2024, and became effective on November 4, 2024, and the related base prospectus included in the Registration Statement, as supplemented by the prospectus supplement dated June 24, 2025.
The Offering closed on June 25, 2025. The Company intends to use the net proceeds from the Offering for general corporate purposes, which may include among other things, capital expenditures and working capital. The Company may also use such proceeds to fund acquisitions of businesses that complement the Company’s current business; however, the Company has no present plans, agreements or commitments with respect to any potential acquisition.
The Securities Purchase Agreement contains customary representations, warranties, covenants, and other agreements by the Company and the purchaser. The foregoing description of the Securities Purchase Agreement is only a summary and is qualified in its entirety by reference to the full text of the Securities Purchase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference in this Item 1.01.
A copy of the opinion and consent of Norton Rose Fulbright US LLP, as legal counsel to the Company, regarding the legality of the issuance and sale of the Offering Shares is attached hereto as Exhibit 5.1 and Exhibit 23.1 to this Current Report on Form 8-K.
This Current Report on Form 8-K is not an offer to sell any securities of the Company and is not soliciting an offer to buy such securities in any state where such offer and sale is not permitted.
Placement Agency Agreement
On June 24, 2025, the Company entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with Univest Securities, LLC to act as the sole placement agent (the “Placement Agent”) in connection with the Offering. Pursuant to the Placement Agency Agreement, the Placement Agent is entitled to a fee equal to an aggregate of 8.0% of the proceeds received by the Company in the Offering and reimbursement of the Placement’s reasonable travel and other out-of-pocket expenses, including reasonable fees, costs and disbursement of its legal counsel, in an amount not to exceed an aggregate of $10,000.
The net proceeds of the Offering were approximately $1 million, after deducting the Placement Agent’s fees and other estimated offering expenses.
The Placement Agency Agreement contains customary representations, warranties, covenants, and other agreements by the Company and the Placement Agent. The foregoing description of the Placement Agency Agreement is only a summary and is qualified in its entirety by reference to the full text of the Placement Agency Agreement, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On June 24, 2025, the Company issued a press release announcing the launch of the Offering. The full text of the press release is attached as Exhibit 99.1, and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act, except as shall be expressly set forth by reference in such a filing. Furthermore, the furnishing of information under Item 7.01 of this Current Report on Form 8-K is not intended to constitute a determination by the Company that the information contained herein, including the exhibits hereto, is material or that the dissemination of such information is required by Regulation FD.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
5.1 | Opinion of Norton Rose Fulbright US LLP. | |
10.1 | Securities Purchase Agreement dated June 24, 2025, between Houston American Energy Corp. and the purchaser thereto. | |
10.2 | Placement Agency Agreement dated June 24, 2025, between Univest Securities, LLC and Houston American Energy Corp. | |
23.1 | Consent of Norton Rose Fulbright US LLP (included in Exhibit 5.1). | |
99.1 | Press Release dated June 24, 2025. | |
104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HOUSTON AMERICAN ENERGY CORP. | ||
Date: June 25, 2025 | By: | /s/ Peter Longo |
Name: | Peter Longo | |
Title: | Chief Executive Officer |