secwatch.observer — SEC 8-K summary
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Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001493152-23-015356
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000149315223015356/0001493152-23-015356-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000149315223015356/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-015356

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer