Amplify Energy Revises Merger Terms, Secures $10 Million from Juniper

Amplify Energy Corp. has amended its merger agreement with Juniper Capital to include an additional $10 million cash infusion aimed at reducing the net debt of the combined entity. This revision will allow Amplify to issue about 26.7 million shares while assuming approximately $133 million in net debt, and it comes in response to shareholder feedback and recent market volatility. Amplify's President and CEO, Martyn Willsher, emphasized the importance of shareholder engagement and the long-term value of the merger, while Juniper's Managing Partner, Edward Geiser, noted that the additional investment is justified given current market conditions. Following the announcement, Amplify's stock rose by 9.1%, reflecting increased investor confidence, with analysts projecting an average target price of $10.25. The company has also provided updated hedging data to mitigate risks from declining oil prices, with significant portions of future oil output already hedged. Amplify plans to file updated proxy materials with the SEC to reflect these changes ahead of a special shareholder meeting scheduled for April 23.