HighPeak Energy Seeks Strategic Alternatives, Stock Up 7%

(RTTNews) - Shares of HighPeak Energy, Inc. (HPK) gained over 7% on Monday's after-hours session after the company announced its plans to seek strategic alternatives.

HighPeak Energy announced that its Board of Directors has voted to initiate a process to evaluate certain strategic alternatives to maximize shareholder value, including a potential sale of the company.

CEO Jack Hightower said, "The Board and I believe now is an opportune time to capture the value we do not consider is presently reflected in our share price. We have worked diligently over the last few years to secure this position and are poised to capitalize on the favorable energy market outlook."