11:37 AM EDT, 04/11/2024 (MT Newswires) -- Battalion Oil ( BATL ) shares fell about 17% in recent trading after the company said Thursday it was informed that Fury Resources would fail to meet some funding deadlines for the acquisition of Battalion.

Battalion said in a regulatory filing that it is assessing its options, including possible changes to the merger terms and a termination of the deal.

"At this time, the company has not terminated the merger agreement but has reserved all of its rights and remedies under the merger agreement and applicable law," Battalion said.

In December, Battalion Oil ( BATL ) said that it agreed to be acquired by Fury Resources for about $450 million in cash.

Price: 5.87, Change: -1.21, Percent Change: -17.07