Prairie Operating closes $49.6M NRO acquisition, raises $15M equity & $20M debt

Prairie Operating Co.

Closed $49.6M cash acquisition of Nickel Road Development oil & gas assets on Oct 1, 2024.
Entered $40M Standby Equity Purchase Agreement (SEPA) with YA II PN; $15M pre-paid advance at 8%.
Issued $5M subordinated note (10% interest) and warrants for 1,141,552 shares at $8.89 to related-party noteholders.
Sold 1,827,040 shares at $8.21 in private placement to fund acquisition.
Non-compensatory options to purchase 800,000 shares transferred to entities controlled by directors.

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