Prairie Operating Co. — Form 10-Q
Filed August 14, 2026 · analyzed by the Periodic Agent
10-Q
▼ Likely negative
significance 42/100
What the filing says
Prairie Operating Co. and Hudson Bay PH XIX LLC amended the Series F Convertible Preferred Stock agreement (originally issued March 2025) to remove the Absolute Floor Price restriction on conversions for Hudson Bay's shares, capping incremental common share issuance at 21,156,339 shares. The amendment also modifies Anniversary Warrant terms, with issuance contingent on the stock trading below 115% of conversion price by August 7, 2026. Stockholder approval was previously obtained; registration statement remains effective for resales.
Why this rating
Removal of price floor reduces capital protection; 21M incremental share cap (~28% of $74M market cap) is material dilution. Ordinary amendment but meaningful shareholder impact relative to company size.
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