Diversified holding company with business operations and investments, Houston Natural Resources Corp (OTCMKTS:HNRC) on April 21, 2022, announced a strategy to invest as well as sponsor Special Purpose Acquisition Corporations in 2022. The firm is looking to sponsor one SPAC investment in every quarter of the current year.
Houston Natural Resources had sponsored the NYSE listing of an energy-focused SPAC worth $86 million during quarter one of 2022. The company is focusing on a second energy-focused SPAC listing by end of quarter two. HNRC is also assessing six other SPAC opportunities for listing in quarters three and four of 2022.
The strategy will provide a dividend to shareholders, post the expiry of the lock-up period on every SPAC investment. This will give quarterly dividends through the entire next year.
Houston Natural Resources is expecting to realize a minimum of $3m on every SPAC investment to be added to existing earnings in the current and next year. This can give shareholders over $0.30c per share in annual dividends. The firm is also assessing sponsoring more energy-focused SPACS, including renewables, oil, and gas as well as waste to energy opportunities. Houston Natural Resources portfolio companies comprise investments in Information Technology, Energy, and Healthcare.
Back on April 4, Houston Natural Resources had announced that it expected to come up with strong results in the first fiscal quarter for the period that ended on March 31, 2022.
The company noted at the time that it expected its revenues for the first quarter to touch $5 million and the EBITDA to hit $2.5 million. Investors need to keep in mind that Houston Natural Resources has been boosting its revenues every year for the past three years.
