Past year: ▼ 80%(40.6c – 2.05 USD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Aug 2026security holder rights change▼ BadMajor
Prairie delayed the Series F anniversary warrant date yet again (a third time) and added a new penalty mechanism -- a "Second Penny Warrant" for 3 million shares at $0.01 each -- that triggers if the warrants still aren't issued by the new date, underscoring the continuing standoff with its preferred-stock holder.
9 July 2026listing compliance notice▼ BadMajor
Nasdaq notified Prairie that its stock has traded below the $1.00 minimum bid price for 30 straight days, risking delisting; the company has until December 2026 to regain compliance, with automatic delisting if shares ever fall to $0.10 -- confirming the stock's steep decline amid the preferred-stock overhang.
11 June 2026security holder rights change▼ BadMajor
Prairie's lenders tightened covenants and reporting requirements on its Citibank credit facility while reaffirming the $475 million borrowing base, and the company let Series F Preferred holder Hudson Bay ("High Trail") convert its remaining stake into up to 21.2 million common shares -- heavy dilution -- while again delaying the anniversary warrant date and cutting its payout formula, signs of an ongoing, worsening negotiation over the distressed preferred stock.
9 Apr 2026capital raising announcement▲ GoodMajor
Repurchased 13,727 shares of its Series F Convertible Preferred Stock from Hudson Bay PH XIX LLC ('High Trail') for about $19.0 million cash plus stock for accrued dividends -- a de-risking move to shrink the increasingly troublesome Series F preferred overhang already flagged as an active financial-distress watch item.
7 Apr 2026material agreement▼ BadMajor
Prairie pushed the Series F warrant issuance date back again, by two more days, paying another $3 million fee -- the second consecutive delay in as many weeks.
25 Mar 2026material agreement▼ BadMajor
Prairie agreed to delay the anniversary warrant issuance owed to holders of its Series F Preferred Stock (issued alongside the Bayswater deal) by about two weeks, paying $3 million for the extension -- an early sign of strain in managing a large, dilutive preferred-stock obligation.
22 Sept 2025auditor change▲ Good
Following a competitive review, Prairie's audit committee replaced Ham, Langston & Brezina with Deloitte & Touche as its independent auditor -- a step up to a Big Four firm as the company has grown, with no disagreements disclosed.
20 June 2025material agreement▲ GoodMajor
Prairie set up a $75 million at-the-market equity sales facility with Citigroup and Truist, giving it a standard, lower-cost tool to raise incremental equity going forward instead of relying on convertible/PIPE structures.
1 Apr 2025asset acquisition disposition▲ GoodMajor
Prairie closed the Bayswater acquisition -- $602.75 million headline price, paid as roughly $483.5 million cash (with $15 million held in escrow) plus 3.66 million shares of stock -- by far its largest deal, funded by expanding its Citibank credit facility borrowing base more than tenfold, from $44 million to $475 million.
26 Mar 2025capital raising announcement▼ BadMajor
Raised about $139 million net by selling 148,250 shares of a new Series F preferred stock -- the money that paid for the Bayswater acquisition closing days later. The terms were the catch: a 12% dividend that jumps to 25% once the credit facility matures, a right for holders to take 25% of the proceeds of any future financing, and warrants due to them on the first anniversary. That anniversary warrant is the obligation Prairie would spend 2026 paying $3 million at a time to postpone.
17 Mar 2025material agreement▲ GoodMajor
Prairie amended its pending purchase agreement to buy Bayswater Resources' DJ Basin assets, extending the deadline and fixing the stock portion of the price at $16 million -- keeping alive what would become its largest acquisition yet.
7 Feb 2025asset acquisition disposition▲ GoodMajor
Signed the Bayswater Purchase and Sale Agreement to acquire DJ Basin oil and gas assets from Bayswater Resources and affiliated funds for $602.75 million (cash plus up to 5,249,639 shares) -- Prairie's transformational acquisition, which closed the following month funded by a major expansion of its Citibank credit facility.
19 Dec 2024debt financing▲ GoodMajor
Prairie established its first real reserve-based bank credit facility, with Citibank as administrative agent: a $1 billion maximum framework with an initial $44 million borrowing base, $28 million drawn at signing -- a more conventional financing tool than the convertible notes and equity lines used to fund the Nickel Road deal.
21 Nov 2024director officer appointment▲ GoodMajor
Paul Kessler's eleven-year hold on this registrant ended: on his resignation from the board the 2023 stockholders agreement that had guaranteed board seats to him, Gary Hanna and Edward Kovalik was torn up, and Richard Frommer took his seat. Bristol Capital, an insider presence since 2013 and a lender since 2016, was finally out.
4 Oct 2024listing compliance notice▼ Bad
Prairie Operating Co. withdrew a registration statement, abandoning the offering it covered.
4 Oct 2024asset acquisition disposition● NeutralMajor
The Nickel Road acquisition closed (Prairie paid roughly $55.6 million in total across the deposit and closing payments, less than the $94.5 million originally headlined, reflecting deal adjustments), funded by a new $40 million equity line, a $15 million convertible note and a $5 million subordinated note from entities controlled by director Jonathan Gray -- a mix of standard and related-party, dilutive financing to get the deal done. The company also relocated headquarters to Houston and confirmed its Nasdaq listing under ticker PROP.
20 Aug 2024bylaws amendment● NeutralMajor
Renegotiated the Nickel Road purchase down: up to $11.5 million of spud fees dropped, cash due at closing cut by about $14.5 million to roughly $57 million, and the deadline pushed to September. To free up the funding, Prairie let its largest holder -- the O'Neill family trust -- lift its conversion ceiling from 9.99% to 49.9% of the company, in exchange for a standstill and an agreement that any voting power above 29.9% be cast in the same proportion as everyone else's.
24 Jan 2024asset acquisition disposition▲ GoodMajor
Prairie sold off its remaining cryptocurrency mining equipment for $1 million cash plus a revenue-share deferred payment, fully exiting the Bitcoin mining business it had run under its prior Creek Road Miners identity and completing its transition to a pure-play oil and gas producer.
12 Jan 2024asset acquisition disposition▲ GoodMajor
Prairie agreed to buy Nickel Road Development/Nickel Road Operating's DJ Basin oil and gas assets for $94.5 million ($83.0 million cash plus $11.5 million deferred), its second major acreage acquisition since the 2023 merger.
27 Dec 2023listing compliance notice▲ GoodMajor
the exchange certified Prairie Operating Co.'s securities for listing, clearing them to begin trading.
16 Oct 2023capital raising announcement▲ GoodMajor
As the newly renamed Prairie Operating Co., saw holders convert $2.0 million of its 12% senior secured convertible debentures (issued May 2023) into 11,447,619 shares -- reducing debt from the pre-merger financing package.
5 Sept 2023material agreement● Neutral
A small housekeeping transaction: existing investor Georgina Asset Management bought options on 200,000 Prairie shares from insiders Gary Hanna, Edward Kovalik and Bristol Capital for $2,000, exercisable only if production targets are met.
18 Aug 2023asset acquisition disposition● Neutral
An amended filing corrected a major error in the prior day's PIPE disclosure: the warrants involved cover 114,285,714 shares, not the 1,131,856 originally stated -- a hundred-fold understatement in the first filing.
17 Aug 2023asset acquisition disposition▲ GoodMajor
Prairie exercised its option under the Exok deal to buy roughly 32,695 more gross acres of Colorado oil and gas rights, funding it with a $20 million private placement -- expanding its core DJ Basin position soon after the merger closed.
1 June 2023auditor change▼ Bad
Auditor MaughanSullivan resigned shortly after the Prairie merger closed; its most recent report had flagged substantial doubt about the company's ability to continue as a going concern for fiscal 2022 (the pre-merger crypto-mining entity).
9 May 2023business combination▲ GoodMajor
The merger with Prairie Operating Co., LLC and the Exok Colorado asset purchase both closed. Gary Hanna and Edward Kovalik (Prairie's founders) took board control alongside legacy holder Bristol Capital/Paul Kessler; the earlier Barlock debenture dispute was resolved by converting the debt to stock and new preferred shares at a 30% premium. The company is now operationally an oil and gas producer in Colorado's DJ Basin.
4 May 2023business combination● NeutralMajor
The Prairie merger agreement was amended: the planned reverse stock split was dropped, and the outside termination date was pushed to September 30, 2023, alongside updated terms for the Exok asset deal and the PIPE financing.
6 Mar 2023material agreement● Neutral
While the Prairie merger was still pending, the company (still doing crypto mining) signed a two-year hosting agreement with Atlas Power Hosting for its Bitcoin miners in North Dakota.
25 Oct 2022business combination▲ GoodMajor
Creek Road agreed to merge with Prairie Operating Co., LLC, a Delaware oil and gas company, planning to convert all its preferred stock and debentures into common shares, reverse split, rename itself "Prairie Operating Co.," and raise a $30 million PIPE -- contingent on closing a separate deal to buy Weld County, Colorado (DJ Basin) oil and gas assets from Exok, Inc. This is the transaction that created today's Prairie Operating Co.
19 Sept 2022debt financing▼ BadMajor
Barlock Capital Management -- co-managed by the company's own recently-resigned former Co-CEO, Scott Kaufman -- declared a default on a $2.5 million secured debenture and demanded $5 million, alleging Kaufman's resignation and the Alpha settlement triggered default. The company rejected the claim and accused Kaufman of fraud, self-dealing and breach of fiduciary duty -- an open, contentious governance dispute right before the pending merger.
