other material
confidence high
sentiment neutral
materiality 0.80
Prairie Operating raises ~$179.5M net; issues Series F Preferred with 12% dividend and concurrent common offering
Prairie Operating Co.
- Raised ~$139.1M net from sale of 148,250 Series F Preferred shares ($1,000 stated value, 12% cumulative dividend).
- Raised ~$40.4M net from concurrent common stock offering of 8,555,555 shares at $4.50 per share (underwriters' option partially exercised).
- Proceeds used to fund portion of previously announced Bayswater oil & gas property acquisition.
- Preferred shares convertible into common at initial rate of 202.0202 shares per preferred share; conversion floor of $1.15.
- Company redemption right at 125% of stated value plus accrued dividends; holders have put on fundamental change.