Prairie Operating Co. Announces Pricing of Common Stock Offering

Core Viewpoint - Prairie Operating Co. announced a public offering of $38.5 million in common stock at a price of$4.50 per share, with an option for underwriters to purchase additional shares valued at $5.8 million [1][2]. Group 1: Offering Details - The net proceeds from the common stock offering are expected to be approximately$35.4 million, or $40.8 million if the underwriters fully exercise their option [2]. - The offering is set to close on March 26, 2025, pending customary closing conditions [4]. - Citigroup is the lead book-running manager for the offering, with several other firms acting as joint and co-managers [4]. Group 2: Use of Proceeds - The proceeds from the common stock offering will be used to fund a portion of the purchase price for the acquisition of oil and gas assets from Bayswater Exploration and Production [3]. - Remaining proceeds will be allocated for general corporate purposes, which may include advancing development and drilling programs, repaying existing debt, or financing other acquisition opportunities [3]. Group 3: Company Overview - Prairie Operating Co. is an independent oil and gas company focused on acquiring and developing crude oil, natural gas, and natural gas liquids, primarily in the Denver-Julesburg Basin [7]. - The company emphasizes responsible development and aims to maximize returns through consistent growth and sustainable cash flow generation [7].