Houston American Stock Price, News & Analysis

Houston American Energy Corp. (NYSE American: HUSA) and Abundia Global Impact Group (AGIG) have announced the appointment of Nexus PMG as their Engineering and Service provider for AGIG's Plastics Recycling Facility and Innovation Hub project in Baytown, TX.

The project, located at the Cedar Port Industrial Park, will focus on developing advanced recycling and sustainable aviation fuel (SAF) technologies. Nexus PMG will provide front-end engineering, project de-risking services, and strategic support for the development of the Abundia Innovation Hub. Their scope includes technical reviews, project specifications guidance, and supervision of pre-FEED and FEED studies, leading to the final investment decision (FID).

Houston American Energy (NYSE American: HUSA) has appointed Dr. Martha J. Crawford to its Board of Directors, effective immediately. Dr. Crawford, who will serve on the Audit Committee and chair the Nominating & Governance Committee, brings extensive experience in environmental engineering and corporate leadership.

Dr. Crawford holds MS and PhD degrees from Harvard University in chemical and environmental engineering, an MBA from the French College des Ingenieurs, and a CBE from Columbia Business School. Her background includes executive roles at Air Liquide and Orano, teaching at Harvard Business School, and current board positions at Blink Charging and Aries Clean Technologies. Since 2021, she has been working with Macquarie Group portfolio companies focused on waste management and circular economies.

Houston American Energy (NYSE American: HUSA) has completed the acquisition of a 25-acre site at Cedar Port Industrial Park in Baytown, Texas for $8.5 million from TGS Cedar Port Partners. The site will be developed into the company's first plastics recycling plant, focusing on converting plastic waste into pyrolysis oil.

The strategic location offers significant advantages, being situated in the largest master-planned rail and barge-served industrial park in the United States, with direct access to the Houston Ship Channel and Port of Houston. The facility will serve as an innovation hub for recycling, renewable, and circular technologies, benefiting from the region's robust infrastructure and skilled workforce.

Houston American Energy (NYSE American: HUSA) has secured a significant $100 million equity line of credit through a Common Stock Purchase Agreement with an institutional investor. The 24-month agreement allows HUSA to sell shares at its discretion, with a $2 million cap per drawdown at a 4% discount to VWAP.

The Company plans to utilize the proceeds to fund strategic acquisitions, scale operations, and expand its presence in the low-carbon fuels and chemicals sector. The agreement was structured under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D, with HUSA planning to file a registration statement with the SEC for share resale.

Houston American Energy (NYSE American: HUSA) has secured a $5 million Convertible Note from an institutional investor to partially fund the acquisition of a 25-acre site at Cedar Port Industrial Park in Baytown, Texas. The site will be developed into a plastics-to-low-carbon fuels hub.

The Senior Secured Convertible Note includes an 8% Original Issue Discount, resulting in a face amount of $5.4 million, with 7% interest and maturity on July 10, 2026. The Note is convertible at a 10% premium to a look-back price. The total site acquisition cost is expected to be $8.5 million, with closing anticipated in July 2025.

Houston American Energy Corp. (NYSE American: HUSA) has appointed Matthew T. Henninger to its Board of Directors, effective immediately. The appointment follows the company's strategic share exchange with Abundia Global Impact Group (AGIG). Mr. Henninger, who brings over 35 years of investment banking and operational management experience, will serve on both the Audit and Compensation Committees.

Mr. Henninger currently serves as a Managing Partner at BRM Holdings and CEO of Exotropin. He has extensive experience across various industries including consumer products, medical chemicals, industrial manufacturing, and short-line rail transportation. Concurrent with his appointment, Stephen P. Hartzell has resigned from the Board. The Board maintains its composition of five directors, including three independent members.

Houston American Energy (NYSE American: HUSA) has completed the acquisition of Abundia Global Impact Group (AGIG), transforming into a company focused on converting waste plastics into low-carbon fuels and chemical products. The combined entity will be led by AGIG's founder Ed Gillespie as CEO, who joins the Board of Directors alongside Chairman Peter Longo.

The strategic acquisition aims to leverage HUSA's public market platform to accelerate Abundia's growth and scale its proprietary pyrolysis technology. The company plans to develop large-scale recycling projects, with an initial facility planned for the U.S. Gulf Coast. This location was chosen for its strategic advantages, including access to waste feedstock, downstream customers, workforce, and transportation options.

The transaction structure involves AGIG becoming a wholly-owned subsidiary of HUSA through an exchange of AGIG's outstanding membership interests for newly authorized HUSA common stock. The leadership team includes Lucie Harwood as CFO and Joseph Gasik as COO. The combined company targets the growing global market for renewable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks.

Houston American Energy Corp. (NYSE American: HUSA) has announced a registered direct offering of 81,629 shares of common stock at $14.80 per share, aiming to raise approximately $1.2 million in gross proceeds.

The company expects to receive net proceeds of approximately $1 million after deducting placement agent fees and expenses, which will be used for general corporate purposes. The offering is expected to close on June 25, 2025. Univest Securities, LLC will serve as the sole placement agent, receiving an 8.0% fee of the proceeds plus expense reimbursement up to $10,000.

Houston American Energy Corp. (NYSE American: HUSA) has announced a registered direct offering of 223,762 shares of common stock (or pre-funded warrants) at $10.60 per share, aiming to raise approximately $2.37 million in gross proceeds. The company expects to receive net proceeds of about $2.1 million after deducting placement agent fees and expenses, which will be used for general corporate purposes. The offering is expected to close around June 20, 2025. Univest Securities, LLC will serve as the sole placement agent, receiving an 8% fee plus expenses. Additionally, the company has deferred discussions regarding a potential $30 million Equity Line of Credit (ELOC) Agreement, which was previously considered in connection with the Abundia Financial transaction.