---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-013932"
form_type: "8-K"
ticker: "PROP"
cik: "0001162896"
company_name: "Prairie Operating Co."
filed_at: "2026-04-09T23:59:59+00:00"
generated_at: "2026-05-15T06:45:45.366854+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-26-013932
- form_type: 8-K
- ticker: PROP
- cik: 0001162896
- company_name: Prairie Operating Co.
- filed_at: 2026-04-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000114036126013932/0001140361-26-013932-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000114036126013932/ef20070147_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-013932
- JSON: https://secwatch.observer/filing/0001140361-26-013932.json
- Plain text: https://secwatch.observer/filing/0001140361-26-013932.txt

## Source-grounded claims
- claim_id: 85b28a0f252e6699f38c947991391b7502ef35e8
  claim: Prairie Operating Co. entered into Letter Agreement with Hudson Bay PH XIX LLC (High Trail) (effective 2026-04-08).
  evidence_excerpt: 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")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000114036126013932/0001140361-26-013932-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.