Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Prairie Operating Co. completed a disposition involving Matthew Austin Lerman for $1.0 million in cash and $1.0 million in deferred cash payments (closed 2024-01-23).
- Action
- disposition
- Counterparty
- Matthew Austin Lerman
- Consideration
- $1.0 million in cash and $1.0 million in deferred cash payments
- Closing
- 2024-01-23
Exact text from the filing
the Company sold all of its cryptocurrency miners (the “Mining Equipment”) to Buyer (the “Asset Sale”) for consideration consisting of (i) $1.0 million in cash and (ii) $1.0 million in deferred cash payments, to be paid out of (i) 20% of the monthly revenues received by Buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals $250,000 and (ii) thereafter, 50% of the monthly revenues received by Buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals the Deferred Purchase Price, plus accrued interest. The Asset Sale closed on January 23, 2024, simultaneously with the execution of the Purchase Agreement.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Prairie Operating Co. entered into Asset Purchase Agreement with Matthew Austin Lerman valued at $1.0 million in cash and $1.0 million in deferred cash payments (effective 2024-01-23).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Matthew Austin Lerman
- Value
- $1.0 million in cash and $1.0 million in deferred cash payments
- Effective
- 2024-01-23
Exact text from the filing
On January 23, 2024, pursuant to an asset purchase agreement (the “Purchase Agreement”), by and between Prairie Operating Co. (the “Company”) and Matthew Austin Lerman (“Buyer”), the Company sold all of its cryptocurrency miners (the “Mining Equipment”) to Buyer (the “Asset Sale”) for consideration consisting of (i) $1.0 million in cash and (ii) $1.0 million in deferred cash payments, to be paid out of (i) 20% of the monthly revenues received by Buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals $250,000 and (ii) thereafter, 50% of the monthly revenues received by Buyer associated with or otherwise attributable to the Mining Equipment until the aggregate amount of such payments equals the Deferred Purchase Price, plus accrued interest.
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