secwatch.observer — SEC 8-K summary
======================================

Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001493152-24-039563
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prairie Operating closes $49.6M NRO acquisition, raises $15M equity & $20M debt
-------------------------------------------------------------------------------

- Closed $49.6M cash acquisition of Nickel Road Development oil & gas assets on Oct 1, 2024.
- Entered $40M Standby Equity Purchase Agreement (SEPA) with YA II PN; $15M pre-paid advance at 8%.
- Issued $5M subordinated note (10% interest) and warrants for 1,141,552 shares at $8.89 to related-party noteholders.
- Sold 1,827,040 shares at $8.21 in private placement to fund acquisition.
- Non-compensatory options to purchase 800,000 shares transferred to entities controlled by directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000149315224039563/0001493152-24-039563-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000149315224039563/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-039563

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