By Stephen Nakrosis
Shares of oil and natural-gas company Prairie Operating were trading below recent 52-week lows in the after-hours market following news the company plans to sell shares of its Series F Preferred Stock and warrants to purchase shares of its common stock.
In the late trading session on Monday, Prairie Operating shares were down almost 19%, at $4.75. The stock hit a 52-week low of $4.91 on Jan. 14.
The shares ended the day's regular session with a 5% gain, closing at $5.86.
The company said it expects net proceeds from the sale of the securities will be about $140.8 million. The offering is expected to close on or about March 26.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 24, 2025 18:14 ET (22:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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