SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Pure Acquisition Corp. (NasdaqGS – PACQ)

BALA CYNWYD – July 15, 2020 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pure Acquisition Corp. (“Pure” or the “Company”) (NasdaqGS – PACQ) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Pure, a special purpose acquisition company, will combine with a wholly owned subsidiary of HighPeak Energy and result in HighPeak Energy becoming a publicly-listed company. Under the terms of the agreement, Pure shareholders will receive (i) one share of HighPeak Energy common stock, (ii) a cash payment equal to the amount, if any, by which the per-share redemption value of Pure’s Class A common stock exceeds $10.00 per share at the closing of the business combination and which is estimated to be approximately $0.60 per share, and (iii) one public contingent value right (“Public CVR”) at the closing of the business combination in exchange for each share of Pure Class A common stock which provides holders with a 10% per annum preferred simple return including downside protection to $4.00 per share.

The investigation concerns whether the Pure Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

If you own shares of Pure stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or call toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.