Prairie Operating Co (PROP) said Friday that it has launched an underwritten public offering of its common stock for $200 million.
The company also expects to grant the underwriters a 30-day option to buy up to $30 million of additional common shares.
The company said it plans to use the net proceeds to fund a portion of its proposed acquisition of certain oil and gas assets from Bayswater Exploration and Production, and the remainder for other general corporate purposes.
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