---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-024881"
form_type: "8-K"
ticker: "PROP"
cik: "0001162896"
company_name: "Prairie Operating Co."
filed_at: "2026-06-11T12:00:43+00:00"
generated_at: "2026-06-11T12:05:28.074127+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Prairie Operating Co. reaffirms $475M borrowing base, amends credit facility with Citibank

## Summary
- Reaffirmed $475M borrowing base under Second Amendment to A&R Credit Agreement with Citibank.
- Modified covenants on distributable free cash flow; increased redetermination cadence.
- Letter Agreement with High Trail permits conversion of Series F Preferred into up to 21,156,339 common shares.
- Anniversary warrant issuance date moved to Aug 7, 2026; warrant share count reduced from 75% to 65% of stated value.

## SEC filing metadata
- accession: 0001140361-26-024881
- form_type: 8-K
- ticker: PROP
- cik: 0001162896
- company_name: Prairie Operating Co.
- filed_at: 2026-06-11T12:00:43+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000114036126024881/0001140361-26-024881-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000114036126024881/ef20075766_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-024881
- JSON: https://secwatch.observer/filing/0001140361-26-024881.json
- Plain text: https://secwatch.observer/filing/0001140361-26-024881.txt

## Key facts
- Equity Issuances
  Prairie Operating Co. issued number of shares issuable upon exercise of Anniversary Warrants reduced of warrant to High Trail for amendment of warrant terms without additional consideration.
  - Security: warrant
  - Shares: number of shares issuable upon exercise of Anniversary Warrants reduced
  - Purchaser: High Trail
  - Consideration: amendment of warrant terms without additional consideration
  source text: amend Section 4(w) of the Securities Purchase Agreement, dated as of March 24, 2025, between the Company and High Trail, as amended (the “Purchase Agreement”), to change the “Anniversary Warrant Issuance Date” from July 8, 2026 to August 7, 2026, and (ii) reduce the number of shares of Common Stock issuable upon exercise of the Anniversary Warrants (as defined in the Series F Certificate of Designation) from (1) a number of shares equal to the quotient of (A) 75% of the Stated Value (as defined in the Series F Certificate of Designation) of all Series F Preferred Stock held by such holder on July 8, 2026, divided by (B) the average of the 10 daily volume-weighted average per share trading prices of the Common Stock during the 10 trading days prior to the issuance date of the Anniversary Warrants, to (2) a number of shares equal to the quotient of (A) 65% of the Stated Value of all Series F Preferred Stock held by such holder on August 7, 2026, divided by (B) the average of the 10 daily
  evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000114036126024881/0001140361-26-024881-index.htm

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