--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-23-015999" form_type: "8-K" ticker: "PROP" cik: "0001162896" company_name: "Prairie Operating Co." filed_at: "2023-05-09T23:59:59+00:00" generated_at: "2026-06-15T08:16:55.317327+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.95 calibrated_materiality_score: 0.95 confidence: "high" source: SEC EDGAR --- # Prairie Operating Co. (f/k/a Creek Road Miners) closes merger, acquires Colorado oil & gas leases, raises $17.3M PIPE ## Summary - Merger completed: Prairie LLC merges into subsidiary; company renamed Prairie Operating Co.; ticker to become PROP on OTCQB. - Exok Transaction: purchased ~3,157 net mineral acres in Weld County, CO for $3M. - PIPE raised $17.3M via Series D preferred ($0.175 conversion) and warrants; proceeds fund lease acquisition. - New leadership: Edward Kovalik CEO, Gary Hanna President, Craig Owen CFO, plus two other officers. - Board expanded to five; Gizman Abbas and Stephen Lee added as independent directors. ## SEC filing metadata - accession: 0001493152-23-015999 - form_type: 8-K - ticker: PROP - cik: 0001162896 - company_name: Prairie Operating Co. - filed_at: 2023-05-09T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.95 - calibrated_materiality_score: 0.95 - confidence: high - sec_items: 1.01, 2.01, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-23-015999 - JSON: https://secwatch.observer/filing/0001493152-23-015999.json - Plain text: https://secwatch.observer/filing/0001493152-23-015999.txt ## Key facts - Debt Financings Prairie Operating Co. incurred convertible notes of $1,000,000 at 12%. - Instrument: convertible notes - Principal: $1,000,000 - Rate: 12% - Event: incurrence source text: the Company’s 12% senior secured convertible debentures (the " Original Debentures "), plus accrued but unpaid interest and a 30% premium, were exchanged, in the aggregate, for (a) 12% amended and restated senior secured convertible debentures (collectively, the " AR Debentures ") in the principal amount of $1,000,000 evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Gary C. Hanna was appointed as President at Prairie Operating Co.. - Action: appointed - Role: President source text: The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Bryan Freeman was appointed as Executive Vice President of Operations at Prairie Operating Co.. - Action: appointed - Role: Executive Vice President of Operations source text: The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change John D. Maatta resigned as Interim Chief Financial Officer at Prairie Operating Co.. - Action: resigned - Role: Interim Chief Financial Officer source text: John D. Maatta resigned as Chief Executive Officer and Interim Chief Financial Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Edward Kovalik was appointed as Chief Executive Officer at Prairie Operating Co.. - Action: appointed - Role: Chief Executive Officer source text: The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Gary C. Hanna was appointed as Director at Prairie Operating Co.. - Action: appointed - Role: Director source text: the Board increased to five members and appointed Gary C. Hanna, Edward Kovalik, Gizman Abbas and Stephen Lee evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change John D. Maatta resigned as Chief Executive Officer at Prairie Operating Co.. - Action: resigned - Role: Chief Executive Officer source text: John D. Maatta resigned as Chief Executive Officer and Interim Chief Financial Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Stephen Lee was appointed as Director at Prairie Operating Co.. - Action: appointed - Role: Director source text: the Board increased to five members and appointed Gary C. Hanna, Edward Kovalik, Gizman Abbas and Stephen Lee evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Craig Owen was appointed as Chief Financial Officer at Prairie Operating Co.. - Action: appointed - Role: Chief Financial Officer source text: The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change John D. Maatta resigned as Director at Prairie Operating Co.. - Action: resigned - Role: Director source text: John D. Maatta and Michael Breen resigned from the Board effective as of the Effective Time. evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Edward Kovalik was appointed as Director at Prairie Operating Co.. - Action: appointed - Role: Director source text: the Board increased to five members and appointed Gary C. Hanna, Edward Kovalik, Gizman Abbas and Stephen Lee evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Gizman Abbas was appointed as Director at Prairie Operating Co.. - Action: appointed - Role: Director source text: the Board increased to five members and appointed Gary C. Hanna, Edward Kovalik, Gizman Abbas and Stephen Lee evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Paul Kessler resigned as Executive Chairman at Prairie Operating Co.. - Action: resigned - Role: Executive Chairman source text: Paul Kessler resigned as Executive Chairman evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Jeremy Ham was appointed as Chief Commercial Officer at Prairie Operating Co.. - Action: appointed - Role: Chief Commercial Officer source text: The Board appointed Gary C. Hanna as President, Edward Kovalik as Chief Executive Officer, Craig Owen as Chief Financial Officer, Jeremy Ham as Chief Commercial Officer and Bryan Freeman as Executive Vice President of Operations evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Executive change Michael Breen resigned as Director at Prairie Operating Co.. - Action: resigned - Role: Director source text: John D. Maatta and Michael Breen resigned from the Board effective as of the Effective Time. evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Governance Changes Prairie Operating Co.: Adopted Amended and Restated Bylaws. - Change: bylaw amendment source text: In connection with the Closing, the Company adopted the Amended and Restated Bylaws (the “ Bylaws ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - Governance Changes Prairie Operating Co.: Amended certificate of incorporation to change company name, increase authorized shares, and make other changes. - Change: charter amendment source text: Immediately prior to the Effective Time, the Company filed the Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company (the “ Charter Amendment ”) to, among other things, (i) change the name of the Company from “Creek Road Miners, Inc.” to “Prairie Operating Co.,” (ii) increase the number of authorized shares of Common Stock from 100,000,000 shares to 500,000,000 shares and (iii) make certain changes that the Board deems appropriate for the public operating company after the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - M&A Transactions Prairie Operating Co. completed an acquisition involving Prairie Operating Co., LLC (closed 2023-05-03). - Action: acquisition - Counterparty: Prairie Operating Co., LLC - Closing: 2023-05-03 source text: on May 3, 2023, the Company completed the Merger pursuant to the terms of the Merger Agreement evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - M&A Transactions Prairie Operating Co. underwent a change of control involving Prairie Operating Co., LLC (closed 2023-05-03). - Action: change of control - Counterparty: Prairie Operating Co., LLC - Closing: 2023-05-03 source text: Merger Sub merged with and into Prairie LLC, with Prairie LLC surviving and continuing to exist as a Delaware limited liability company and a wholly-owned subsidiary of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm - M&A Transactions Prairie Operating Co. completed an acquisition involving Exok, Inc. for $3,000,000 (closed 2023-05-03). - Action: acquisition - Counterparty: Exok, Inc. - Consideration: $3,000,000 - Closing: 2023-05-03 source text: with certain other associated assets, data and records, consisting of approximately 3,157 net mineral acres in, on and under approximately 4,494 gross acres from Exok for $3,000,000 pursuant to the Amended and Restated Purchase and Sale Agreement, dated as of May 3, 2023 (the “ Exok Agreement ”), by and among the Company, Prairie LLC and Exok (the “ Exok evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000149315223015999/0001493152-23-015999-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.