Prairie Operating raises ~$179.5M net; issues Series F Preferred with 12% dividend and concurrent common offering

Prairie Operating Co.

Raised ~$139.1M net from sale of 148,250 Series F Preferred shares ($1,000 stated value, 12% cumulative dividend).
Raised ~$40.4M net from concurrent common stock offering of 8,555,555 shares at $4.50 per share (underwriters' option partially exercised).
Proceeds used to fund portion of previously announced Bayswater oil & gas property acquisition.
Preferred shares convertible into common at initial rate of 202.0202 shares per preferred share; conversion floor of $1.15.
Company redemption right at 125% of stated value plus accrued dividends; holders have put on fundamental change.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Prairie Operating Co.: Filed Series F Certificate of Designation to establish rights and preferences of Series F Preferred Stock (effective 2025-03-25).

Change: charter amendment
Effective: 2025-03-25

Exact text from the filing

On March 25, 2025, in connection with the Preferred Offering, the Company filed the Series F Certificate of Designation with the Secretary of State of the State of Delaware to establish the rights and preferences of the Series F Preferred Stock.

View on SEC.gov

23 governance changes filed in the last 30 days. Browse all governance changes →

Prairie Operating Co. filing history →

Source: SEC EDGAR

accession 0001641172-25-000762

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.