Resolute Energy announces conversion ratio from Hicks Acquisition buyout

Resolute Energy announces Hicks buyout conversion

DENVER — Oil and gas company Resolute Energy Co. on Tuesday announced the conversion ratio related to its buyout of Hicks Acquisition Company I Inc.

Each properly tendered Hicks Acquisition public warrant will be converted into 0.5804 of a Resolute public warrant and about 23 cents in cash. Each public warrant that was tendered for cash or was not properly tendered will be converted into a right to receive 55 cents, Resolute said.

Resolute shares gained 5 cents to $10.50 in afternoon trading.

The company announced on Sept. 25 that Hicks Acquisition became a subsidiary of Resolute.