Cardinal Infrastructure Group Announces Successful Pricing for Upsized Stock Offering

On June 24, 2026, Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) officially announced the pricing of a significantly enlarged underwritten public offering. This decision aligns with the company’s ongoing efforts to enhance its capital position and expand its infrastructure capabilities across the Southeast.

The offering consists of 4,000,000 shares of Class A common stock, priced at $73.00 per share. This pricing reflects a total gross raise of approximately $292 million, before any underwriting discounts or commissions, as well as other expenses associated with the offering.

The company has also offered underwriters the option to purchase an additional 600,000 shares of Class A common stock within 30 days, indicating Cardinal's commitment to maximizing its financial potential during this public offering.

The closing of this offering is expected to occur on June 26, 2026, contingent upon standard closing conditions. The firm has engaged Stifel, William Blair, and Truist Securities as the book-running managers to oversee this complex offering process.

A registration statement related to this public offering was declared effective by the Securities and Exchange Commission (SEC) on the same day, facilitating the legal framework needed for the offering to proceed and allowing potential investors to access the required documentation. Interested parties can obtain the final prospectus for this stock offering from the respective book-running managers via their offices or contact points detailed within the pricing announcement.

It is critical to note that this press release should not be interpreted as a solicitation to sell or an invitation to purchase any of these securities. Rather, the offering will comply with all securities laws and will only occur in jurisdictions where it is legally permissible, following the completion of all necessary regulatory processes.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group, Inc. stands out as one of the Southeast’s fastest-growing full-service infrastructure service providers. Focusing on integrated civil and site development solutions, the company's operational model emphasizes self-performing capabilities supported by specialized labor, advanced fleets, and market-leading subsidiaries. The vision driving Cardinal involves a blend of operational efficiency, market expansion, and building enduring client relationships.

By engaging in this upsized offering, Cardinal aims not only to strengthen its balance sheet but also to gain the resources necessary for its ambitious growth projects and future endeavors in a competitive market environment. As it pursues these objectives, Cardinal is committed to maintaining integrity and operational discipline, striving to be a leader in providing comprehensive solutions for its clients.

Stakeholders in Cardinal's journey should pay close attention to further developments as the execution of this offering unfolds. Potential investors are encouraged to consider the associated risks and consult financial professionals to understand the dynamics of investing in public offerings. The future performance of Cardinal Infrastructure will depend on various factors, including market conditions, operational execution, and timely execution of ramped-up projects aimed at supporting the region's infrastructure needs.

As Cardinal completes the necessary steps for the offering, its forward-looking statements reflect a hopeful outlook, emphasizing anticipated growth and innovation in the infrastructure sector. The management team is optimistic about leveraging the proceeds from this offering to further enhance its capabilities and service offerings in the infrastructure landscape.