Paul L. Kessler - Apr 8, 2024 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role
Director, 10%+ Owner
Signature
/s/ Paul L. Kessler
Stock symbol
PROP
Transactions as of
Apr 8, 2024
Transactions value $
$900,000
Form type
4
Date filed
4/10/2024, 04:30 PM
Previous filing
Mar 14, 2024
Next filing
Jun 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PROP Common Stock Conversion of derivative security $900K +150K +10.91% $6.00 1.52M Apr 8, 2024 By affiliate F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding PROP Series D Preferred Stock 797K Apr 8, 2024 Series Preferred Stock 797K By affiliates F2
holding PROP Warrant 292K Apr 8, 2024 Warrant 292K By affiliates F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On 4/8/24, Bristol Investment Fund, Ltd. ("BIF") exercised warrants to purchase a total of 150,000 shares of common stock at an exercise price of $6.00 per share for an aggregate purchase price of $900,000.00.
F2 BIF holds 3,985.36 shares of Series D Preferred Stock (with stated value of $1,000 per share), convertible at $5.00 per share, and a Series D "A" warrant for 292,472 shares (expires May 2028).
F3 Mr. Kessler has voting and dispositive control over the following securities: (i) 1,135,826 shares of common stock held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC), (ii) 384,160 shares of common stock held by Bristol Capital, LLC, a Delaware LLC ("BC"), (iii) 3,985.36 shares of Series D Preferred Stock held by BIF, (iv) a Series D "A" warrant for 292,472 shares of common stock, (v) 3,250 shares of common stock held by Mr. Kessler in his personal capacity; and (vi) 1,377 shares of common stock held by Bristol Capital Advisors Profit Sharing Plan.