Creek Road Miners amends merger with Prairie, raises $17.3M PIPE for oil & gas assets

Prairie Operating Co.

Amended merger removes reverse stock split requirement; termination deadline extended to Sept 30, 2023.
Exok asset purchase: $3M for ~3,157 net acres; option for additional 20,327 acres at $22.182M ($18M cash + $4.182M equity).
PIPE of $17.3M raised through Series D preferred stock convertible at $0.175/share, with warrants at $0.21/share.
Support agreements convert Series B/C preferred, debentures, and note into common and Series D preferred; 120-day lock-up.
Post-merger company renamed Prairie Operating Co.; expects OTCQB trading under 'PROP' and reverse stock split.

Key facts

Extracted from this filing and checked against the source text.

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

Prairie Operating Co. amended Amended and Restated Agreement and Plan of Merger with Creek Road Merger Sub, LLC and Prairie Operating Co., LLC (effective 2023-05-03).

Action: amendment
Agreement: merger
Counterparty: Creek Road Merger Sub, LLC and Prairie Operating Co., LLC
Effective: 2023-05-03

Exact text from the filing

On May 3, 2023, the Company, Merger Sub and Prairie entered into an Amended and Restated Agreement and Plan of Merger (the “ AR Merger Agreement ,”

View on SEC.gov

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

Prairie Operating Co. amended Amended and Restated Purchase and Sale Agreement with Exok, Inc. and Prairie Operating Co., LLC valued at total amount of $3,000,000 (effective 2023-05-03).

Action: amendment
Agreement: asset purchase
Counterparty: Exok, Inc. and Prairie Operating Co., LLC
Value: total amount of $3,000,000
Effective: 2023-05-03

Exact text from the filing

On May 3, 2023, Prairie, Exok and the Company entered into an Amended and Restated Purchase and Sale Agreement (the “ AR Exok Agreement ”) to, among other things:

View on SEC.gov

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

Prairie Operating Co. entered into Securities Purchase Agreements with the PIPE Investors valued at aggregate of $17.3 million (effective 2023-05-03).

Action: entry
Agreement: equity purchase
Counterparty: the PIPE Investors
Value: aggregate of $17.3 million
Effective: 2023-05-03

Exact text from the filing

on May 3 , 2023 , the Company entered into separate securities purchase agreements (collectively, the “ Securities Purchase Agreements ”) with a number of investors (the “ PIPE Investors ”), pursuant to which the PIPE Investors have agreed to purchase, and the Company agreed to sell to the PIPE Investors, an aggregate of $17.3 million of Series D preferred stock

View on SEC.gov

44 material agreements filed in the last 30 days. Browse all material agreements →

Prairie Operating Co. filing history →

Source: SEC EDGAR

accession 0001493152-23-015356

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.