{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-029222","form_type":"8-K","ticker":"PROP","cik":"0001162896","company_name":"Prairie Operating Co.","filed_at":"2023-08-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.259930+00:00","generated_at":"2026-06-11T07:25:09.465754+00:00","sec_items":["1.01","2.01","3.02","3.03","5.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Prairie Operating acquires Exok assets for $18M cash and stock; closes $20M PIPE to fund deal","bullets":["Acquired ~20,328 net acres in Weld County, Colorado from Exok, increasing DJ Basin position to ~37,189 acres.","Consideration: $18M cash to Exok plus 19.2M shares and warrants to Exok affiliates at ~$0.22/share.","Closed $20M PIPE: 1.13M common shares, 20,000 Series E preferred ($1,000 stated value), and warrants at $0.21 exercise.","PIPE proceeds funded Exok purchase and will fund development of acquired assets; registration rights for resale granted.","Series E preferred has 4.99% beneficial ownership cap, liquidation preference of $1,000/share, and convertible at $0.175."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-029222","json":"https://secwatch.observer/filing/0001493152-23-029222.json","markdown":"https://secwatch.observer/filing/0001493152-23-029222.md","text":"https://secwatch.observer/filing/0001493152-23-029222.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029222/0001493152-23-029222-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029222/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T07:25:09.465754+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9cad300e0dd4fa25771a576d82b070474522b5cb","claim":"Prairie Operating Co.: Filed Certificate of Designation for Series E Convertible Preferred Stock, establishing terms including dividends, voting rights, liquidation preference, conversion rights, beneficial ownership limitation, and redemption rights.","evidence_excerpt":"In connection with the consummation of the PIPE Transaction, the Company filed the Certificate of Designation of Preferences, Rights and Limitations of Series E Convertible Preferred Stock (the “ Certificate of Designation ”) which sets forth the terms and provisions of the Series E Preferred Stock.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029222/0001493152-23-029222-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"}],"fact_type":"governance_change"},{"claim_id":"0a50c94847e1636229a153d56041df51ecb2fc51","claim":"Prairie Operating Co. completed an acquisition involving Exok, Inc. for $18,000,000 in cash and equity consideration (closed 2023-08-15).","evidence_excerpt":"approximately 20,328 net mineral acres in, on and under approximately 32,695 gross acres (the “ Exok Option Assets ”) from Exok (the “ Exok Option Purchase ”) . The Company paid $18,000,000 in cash (the “ Cash Consideration ”) to Exok and issued equity consideration to certain affiliates of Exok (the “ Exok Affiliates ”), consisting of (i) 19,157,123 shares of the","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029222/0001493152-23-029222-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Exok, Inc."},{"label":"Consideration","value":"$18,000,000 in cash and equity consideration"},{"label":"Closing","value":"2023-08-15"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}