# Condor Completes Public Offering with Over-Allotment Exercise

> Condor Energies closes C$28.75m public offering after full over-allotment option exercise.
- Title: Condor Completes Public Offering with Over-Allotment Exercise
- Summary: Condor Energies closes C$28.75m public offering after full over-allotment option exercise. Condor Energies raised C$28.75m from a public offering of…
- Keywords: condor, tsx, convertible debentures, field compression, lpg, kazakhstan, uzbekistan, modular lpg, money, business, Completes, Public
- Source: Financial Post — https://financialpost.com/globe-newswire/condor-announces-full-exercise-and-closing-of-over-allotment-option-in-public-offering
- Author: GlobeNewswire
- Published: 2026-10-20T15:56:13+00:00
- Read time: 1 min
- Topics: condor, tsx, convertible debentures, field compression, lpg, kazakhstan, uzbekistan, modular lpg, money, business
## Condor Announces Public Offering
Condor Energies Inc. completed a public offering of 12% unsecured convertible debentures at C$1,000 per debenture.
## Full Over-Allotment Option Exercise
Condor exercised the over-allotment option in full, issuing an additional C$488,000 principal amount of debentures.
## Total Gross Proceeds
The offering generated C$28,750,000 in gross proceeds from the public offering and non-brokered private placement.
## Convertible Debenture Terms
Each debenture has a principal value of C$1,000, converts at C$6.00 per share, and matures on October 15, 2029.
## Interest and Repayment
Interest accrues at 12% per annum, payable quarterly in arrears, with repayment in cash on maturity.
## Uzbekistan Field Compression
Condor installs 1,200 kW booster compressor in Uzbekistan to improve gas production reliability.
## Kazakhstan LNG Facility
Condor develops first modular LNG facility producing 48,000 gallons per day in Kazakhstan.
## Uzbekistan Project Timeline
Field compression project targets commissioning in Q2 2027 with estimated cost of US$25.3 million.
## Kazakhstan LNG Timeline
LNG facility undergoes final testing before shipment to Kazakhstan with first production targeted for Q2 2027.
## Land and Offtake Arrangements
Condor secured 20 hectares in Kazakhstan through July 2059 for LNG off-take agreements.
## Use of Proceeds
Net proceeds fund field compression facilities in Uzbekistan, modular LNG facilities in Kazakhstan, and working capital.
## Forward-Looking Statements
The company provides forward-looking statements about project timelines and financial outcomes.
## Key takeaway

Condor Energies raised C$28.75m from a public offering of convertible debentures, using proceeds for field compression in Uzbekistan and LNG facilities in Kazakhstan.