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To: Glenn Petersen who wrote (2128)9/25/2009 8:20:28 PM
From: Glenn Petersen  Respond to of 3862
 
The common stock and warrant holders of Hicks Acquisition Company I (stock symbol: [t]TOH[/t]) have approved the acquisition of Resolute Natural Resources, an independent oil and gas company with long-lived oil reserves:

Hicks Acquisition's Merger with Resolute Energy Corporation Approved by Stockholders and Warrantholders

Press Release
Source: Hicks Acquisition Company I, Inc.
On Friday September 25, 2009, 1:37 pm EDT

DALLAS--(BUSINESS WIRE)--Hicks Acquisition Company I, Inc. (AMEX: TOH - News) (“Hicks Acquisition”), a special purpose acquisition company founded and headed by Thomas O. Hicks, announced today that its stockholders and warrantholders approved all proposals related to a definitive agreement pursuant to which Resolute Natural Resources Company, a privately-held independent oil and gas company with long-lived oil reserves, will go public through a transaction with Hicks Acquisition. The special meeting of stockholders and warrantholders was held on Friday, September 25, 2009. The transaction is expected to close Friday September 25, 2009, at which time Hicks Acquisition will become a subsidiary of Resolute Energy Corporation (“Resolute”) and on Monday September 28, 2009, Resolute expects to begin trading its common stock and warrants on the New York Stock Exchange under the symbols “REN” and “REN WS”.

Thomas O. Hicks commented, “When we brought this deal to the market, we were absolutely confident that Resolute had all the essential characteristics to succeed as a public company. The successful completion of this transaction, and the remarkable roster of investors who decided to invest in the long-term prospects of Resolute, confirms our belief that Resolute has the track record and requisite operational, financial and investment know-how to generate strong returns for investors. Importantly, a successful equity offering in what continues to be a challenging market is testament to the quality of Resolute and its exceptional management team, themes we heard consistently in our conversations with the investment community during the past two months. We look forward to working with Nick Sutton and his team at Resolute to achieve continued success.”

Nicholas J. Sutton, Chairman and CEO of Resolute, added, “Becoming a public company is an exciting new chapter for our company. The fundamentals and outlook for our business and for the oil and gas industry are strong. Our operations are strategically located on properties with large, well identified quantities of oil in place, and through proven techniques such as waterflooding and CO2 injection we believe we have the opportunity to significantly increase our oil production. Importantly, our base of investors, who are some of the most well-known and respected in the world, agree that this is the right time to invest in our business. With the continued support of Hicks and Natural Gas Partners, both of which have been instrumental in our transition to becoming a public company, we are focused on taking full advantage of the growth prospects that lie ahead of us.”

Approximately 72% of Hicks Acquisition’s stockholders approved both of the proposals to amend the company’s certificate of incorporation to provide for the company’s perpetual existence and to permit a business combination with an entity engaged in the energy industry.

Approximately 72% of Hicks Acquisition’s stockholders also approved the proposal to adopt the acquisition agreement with Resolute Energy Corporation. Approximately 21% of the holders of common stock issued in the company’s initial public offering voted against such proposal and exercised the conversion rights granted to stockholders in the company’s certificate of incorporation.

In addition, approximately 91% of the holders of Hicks Acquisition’s public warrants approved the proposal to amend the warrant agreement governing such warrants to allow public warrantholders to receive, in exchange for their existing public warrants, either $0.55 in cash or a new warrant to purchase shares of Resolute common stock, subject to proration and adjustment.


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