secwatch.observer — SEC 8-K summary
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Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001641172-25-000762
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000164117225000762/0001641172-25-000762-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000164117225000762/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-000762

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