IRVINE, Calif., Sept. 29, 2025 (GLOBE NEWSWIRE) -- Phoenix Energy One, LLC ("Phoenix Energy" or the "Company") today announced the successful closing of its initial public offering of Series A Cumulative Redeemable Preferred Shares (the "Preferred Shares") conducted pursuant to Regulation A under the Securities Act of 1933, as amended. The Company raised gross proceeds of approximately $54 million through the sale of approximately 2.7 million Preferred Shares at a public offering price of $20.00 per share.

The Preferred Shares are expected to begin trading on NYSE American LLC under the ticker symbol "PHXE.P" on Tuesday, September 30, 2025.

Phoenix Energy has previously raised more than $1 billion in capital through the Company's various debt offerings.

"The successful closing of our initial public offering of Preferred Shares marks another step in Phoenix Energy's strategy. The funds raised will contribute to our ongoing growth as a significant U.S. oil producer in the Williston Basin," said Adam Ferrari, CEO of Phoenix Energy.

"Today, we build on our previous fundraising efforts and continued execution of our three-pronged strategy of direct drilling, royalty acquisition, and non-operated working interests. We are grateful to all our investors and are excited for the journey ahead," added Mr. Ferrari.

In accordance with the terms of the Company's Preferred Shares, a short-period initial distribution of $0.11111 per share is payable on October 15, 2025, to holders of record on October 1, 2025.

Digital Offering LLC acted as the lead selling agent ...