Prairie closes $602.75M Bayswater acquisition, secures $1.0B credit facility

Prairie Operating Co.

Acquired DJ Basin assets for ~$483.5M cash plus 3,656,099 shares of common stock.
New A&R credit facility: $1.0B max commitment, $475M borrowing base, $377M drawn at close.
Paid off $3.2M of subordinated note; remaining $1.46M converted to 15% interest, non‑redeemable.
Facility matures March 2029; includes financial covenants (Net Leverage ≤3.0x, Current Ratio ≥1.0x).
Hedging requirement: at least 80% of proved developed producing reserves through March 2028.

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