Pure Acquisition Corp.

Pure Acquisitiopn filed for a $300 million IPO of its units on March 22 with the SEC. Each unit being offered has a price of $10 and consists of one share of our Class A common stock and one half of one warrant. Each whole warrant entitles the holder to purchase one share of our Class A common stock at a price of $11.50. Each warrant will become exercisable on the later of 30 days after the completion of an initial business combination or 12 months from the closing of this offering and will expire on the fifth anniversary of our completion of an initial business combination, or earlier upon redemption or liquidation. The company has granted the underwriters a 45-day option to purchase up to an additional 4.5 million units to cover over-allotments.

HighPeak Pure Acquisition LLC has committed to purchase from us an aggregate of 8 million warrants at a price of $1 per warrant in a private placement. Each private placement warrant is exercisable to purchase one share of our Class A common stock at a price of $11.50.