Prairie Operating repurchases $19M of Series F Preferred; issues Penny Warrants for up to 7M shares at $0.01

Prairie Operating Co.

Repurchased 13,727 Series F Preferred shares from High Trail for $18,999,047.64 cash plus accrued dividends paid in stock.
Issued a Penny Warrant to buy 4M shares at $0.01; a second 3M-share warrant may issue if Anniversary Warrants not delivered by July 8, 2026.
Anniversary Warrant issuance date moved to July 8, 2026; shares issuable reduced to 75% of Stated Value from 125%.
High Trail waived a $3.0M cash extension fee contingent on repurchase and warrant issuance.
Company must file registration statement for Penny Warrant shares within 30 days; failure incurs monthly penalty of 1% of Daily VWAP.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.95

Prairie Operating Co. issued 4,000,000 shares of Common Stock of warrant to Hudson Bay PH XIX LLC (High Trail) for Issued in connection with repurchase of Series F Convertible Preferred Stock and waiver of $3.0 million cash extension fee.

Security: warrant
Shares: 4,000,000 shares of Common Stock
Purchaser: Hudson Bay PH XIX LLC (High Trail)
Consideration: Issued in connection with repurchase of Series F Convertible Preferred Stock and waiver of $3.0 million cash extension fee

Exact text from the filing

reason, the Anniversary Warrants (as defined in the Series F Certificate of Designation) are not issued to High Trail, the Company will issue to High Trail a warrant to purchase 3,000,000 shares of Common Stock at an exercise price of $0.01 per share (subject to adjustment pursuant to the terms therein) in the form attached to the Letter Agreement (the “Second

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Prairie Operating Co. entered into Letter Agreement with Hudson Bay PH XIX LLC (High Trail) (effective 2026-04-08).

Action: entry
Counterparty: Hudson Bay PH XIX LLC (High Trail)
Effective: 2026-04-08

Exact text from the filing

On April 8, 2026, Prairie Operating Co. (the "Company") entered into a letter agreement (the "Letter Agreement") with Hudson Bay PH XIX LLC ("High Trail")

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Prairie Operating Co. filing history →

Source: SEC EDGAR

accession 0001140361-26-013932

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