Jonathan H. Gray - Sep 7, 2023 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role
Director
Signature
/s/ Jonathan H. Gray
Stock symbol
PROP
Transactions as of
Sep 7, 2023
Transactions value $
$1,850,098
Form type
4
Date filed
5/30/2024, 07:38 PM
Previous filing
Aug 29, 2023
Next filing
Jun 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PROP Common Stock Purchase $333K +109K $3.05* 109K Sep 7, 2023 Held by First Idea International, Ltd. F4
transaction PROP Common Stock Exercise of in-the-money or at-the-money derivative security $900K +150K +187.13% $6.00* 230K Apr 25, 2024 Held by First Idea Ventures LLC F1, F2
transaction PROP Common Stock Exercise of in-the-money or at-the-money derivative security $306K +51K +46.76% $6.00* 160K Apr 25, 2024 Held by First Idea International, Ltd.

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
transaction PROP Series D Convertible Preferred Stock Purchase $777 +255 $3.05* 255 Sep 7, 2023 Common Stock 51K $5.00 Held by First Idea International, Ltd. F3, F4
transaction PROP A Common Stock Purchase Warrant Purchase $155K +51K $3.05* 51K Sep 7, 2023 Common Stock 51K $6.00 Held by First Idea International, Ltd. F4
transaction PROP B Common Stock Purchase Warrant Purchase $155K +51K $3.05* 51K Sep 7, 2023 Common Stock 51K $6.00 Held by First Idea International, Ltd. F4
transaction PROP B Common Stock Purchase Warrant Exercise of in-the-money or at-the-money derivative security $0 -150K -100% $0.00* 0 Apr 25, 2024 Common Stock 150K $6.00 Held by First Idea Ventures LLC F5
transaction PROP B Common Stock Purchase Warrant Exercise of in-the-money or at-the-money derivative security $0 -51K -100% $0.00* 0 Apr 25, 2024 Common Stock 51K $6.00 Held by First Idea International, Ltd.
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person holds 50% and his spouse, Chloe Gray, holds 50% of the interest of First Idea Ventures LLC and each share voting and investment power over the securities held by First Idea Ventures LLC.
F2 On October 16, 2023, the Issuer effected a reverse stock split of outstanding shares of the Issuer's common stock at an exchange ratio of 1:28.5714286, resulting in the reporting person's ownership of 2,210,120 less shares of common stock.
F3 The shares of Series D preferred stock, par value $0.01, have no expiration date.
F4 On September 7, 2023, the Reporting Person purchased from Alpha Capital Anstalt for a total purchase price of $800,000 the following securities: 73,194 shares of Common Stock, 254.87 shares of Series D Convertible Preferred Stock convertible into 50,974 shares of Common Stock, 50,975 Series A Warrants convertible into 50,975 shares of Common Stock, 50,975 Series B Warrants convertible into 50,975 shares of Common Stock, and 35,830 Rights to Purchase 35,830 shares of Common Stock. The values of the aforementioned securities were adjusted to reflect the reverse stock split that occurred on October 16, 2023.
F5 This purchase warrant was previously reported as covering 4,285,714 shares at an exercise price of $0.21 per share, but was adjusted to reflect the reverse stock split that occurred on October 16, 2023.