Hallador Energy Company has successfully priced an underwritten public offering of 2,777,778 shares of common stock at $18.00 per share, generating approximately $50 million in gross proceeds before deducting underwriting discounts, commissions and other offering expenses. In connection with the transaction, the company granted the underwriters a 30-day option to purchase up to an additional 416,666 shares of common stock. The closing is expected to occur on or about January 15, 2026, subject to customary closing conditions.

Hallador intends to apply the net proceeds for general corporate purposes, including funding initial financial commitments to reserve equipment for its planned additional natural gas generating facility. This strategic allocation supports the company’s vertically integrated model—leveraging Sunrise Coal’s fuel supply and the one-gigawatt Merom Generating Station operated by Hallador Power Company, LLC—to expand its Independent Power Producer footprint and improve operating flexibility.

Texas Capital Securities served as the sole bookrunner, with Northland Capital Markets and A.G.P./Alliance Global Partners acting as co-managers. The securities are offered under an automatic shelf registration statement on Form S-3 that became effective upon filing with the SEC on January 13, 2026. A preliminary prospectus supplement has been filed and a final supplement will be made available through Texas Capital Securities and the SEC’s website.