{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-029434","form_type":"8-K/A","ticker":"PROP","cik":"0001162896","company_name":"Prairie Operating Co.","filed_at":"2023-08-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.259521+00:00","generated_at":"2026-06-11T06:49:08.048909+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 exercises Exok option, acquires ~20,328 net acres in DJ Basin, closes $20M PIPE","bullets":["Paid $18M cash + 19.16M shares (at ~$0.22/sh) and warrants to Exok affiliates for ~20,328 net acres in Weld County, CO.","Total acreage after deal: ~37,189 acres in DJ Basin; plans to develop Niobrara and Codell formations.","Closed $20M PIPE with existing investor Narrogal Nominees: Series E preferred (convertible at $0.175), common, and warrants.","PIPE warrants: Series A at $0.21/sh (5yr term) and Series B at $0.21/sh (1yr term); 4.99% beneficial ownership limitation.","Registration rights agreement filed for resale of shares and warrants; proceeds used to fund acquisition and development."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-029434","json":"https://secwatch.observer/filing/0001493152-23-029434.json","markdown":"https://secwatch.observer/filing/0001493152-23-029434.md","text":"https://secwatch.observer/filing/0001493152-23-029434.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029434/0001493152-23-029434-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029434/form8-ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T06:49:08.048909+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":"a9f717621145462fd7fd1ee4df68fe4c6801f715","claim":"Prairie Operating Co.: Filed Certificate of Designation for Series E Convertible Preferred Stock, setting forth its terms and provisions.","evidence_excerpt":"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/1162896/000149315223029434/0001493152-23-029434-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"}],"fact_type":"governance_change"},{"claim_id":"d6546d971c36c3533550ccfb9463529aa12d1c99","claim":"Prairie Operating Co. completed an acquisition involving Exok, Inc. for $18,000,000 in cash (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/1162896/000149315223029434/0001493152-23-029434-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"},{"label":"Closing","value":"2023-08-15"}],"fact_type":"ma_transaction"},{"claim_id":"5d1abbaecaad6a0efd278fef60c66329983efdca","claim":"Prairie Operating Co. entered into Securities Purchase Agreement with Narrogal Nominees Pty Ltd ATF Gregory K O’Neill Family Trust valued at $20.0 million (effective 2023-08-15).","evidence_excerpt":"On August 15 , 2023 , the Company entered into a securities purchase agreement (the “ Securities Purchase Agreement ”) with Narrogal Nominees Pty Ltd ATF Gregory K O’Neill Family Trust (the “ PIPE Investor ”), pursuant to which the PIPE Investor agreed to purchase, and the Company agreed to sell to the PIPE Investor, an aggregate of $20.0 million","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029434/0001493152-23-029434-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Narrogal Nominees Pty Ltd ATF Gregory K O’Neill Family Trust"},{"label":"Value","value":"$20.0 million"},{"label":"Effective","value":"2023-08-15"}],"fact_type":"material_agreement"},{"claim_id":"79db6671002ddbc59318ff36c9393ac659bcd3f9","claim":"Prairie Operating Co. entered into PSA with Exok, Inc. valued at $18,000,000 in cash (effective 2023-05-03).","evidence_excerpt":"Pursuant to the Amended and Restated Purchase and Sale Agreement, dated May 3, 2023 (the “ PSA ”), by and among Prairie Operating Co., a Delaware corporation (the “ Company ”), Prairie Operating Co., LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“ Prairie LLC ”), and Exok, Inc., an Oklahoma corporation (“ Exok ”), Prairie LLC exercised its option (the “ Exok Option ”) to purchase oil and gas leases, including all of Exok’s right, title and interest in, to and under certain undeveloped oil and gas leases located in Weld County, Colorado, together with certain other associated assets, data and records, consisting of 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","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1162896/000149315223029434/0001493152-23-029434-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Exok, Inc."},{"label":"Value","value":"$18,000,000 in cash"},{"label":"Effective","value":"2023-05-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}