other material
confidence high
sentiment neutral
materiality 0.75
Prairie Operating Co. announces $140.8 million Series F Preferred Stock offering to fund Bayswater acquisition
Prairie Operating Co.
- Offering of 150,000 shares of Series F Preferred Stock at $1,000 stated value per share, plus warrants exercisable after one year
- Estimated net proceeds of $140.8 million, to be used with $35 million concurrent common stock offering for Bayswater Acquisition
- Dividends accrue at 12% annually, rising to 25% after six months from credit agreement maturity, payable quarterly
- Closing expected March 26, 2025; offering not conditioned on closing of Bayswater Acquisition
- Holders owning over 50% of common stock have entered voting agreements to support share issuance for conversion or warrant exercise