Large owner Wallis James W. sold $207,809 worth of shares (68,134 units at $3.05), exercised 63,719 in-the-money shares at a strike of $6.00 and bought $623,487 worth of shares (204,422 units at $3.05) (SEC Form 4)
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Finance: Consumer Services
Finance
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | ||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Prairie Operating Co. [ PROP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 09/07/2023 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 09/07/2023 | P | 204,422 | A | $3.05(1) | 774,345(2) | I | By James W. Wallis LivingTrust | ||
| Common Stock | 10/10/2023 | S | 68,134 | D | $3.05(3) | 706,211(2) | I | By James W. Wallis Living Trust | ||
| Common Stock | 05/01/2024 | X | 63,719 | A | $6 | 769,930(2) | I | By James W Wallis Living Trust | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Series D Convertible Preferred Stock | $5 | 09/07/2023 | P | 477.89 | 05/03/2023 | (4) | Common Stock | 95,578(2) | $3.05(1) | 477.89 | I | By: James W. Wallis Living Trust | |||
| Series A Warrants | $6 | 09/07/2023 | P | 95,578 | 05/03/2023 | 05/03/2028 | Common Stock | 95,578(2) | $3.05(1) | 95,578(2) | I | By: James W. Wallis Living Trust | |||
| Series B Warrants | $6 | 09/07/2023 | P | 95,578 | 05/03/2023 | 05/03/2024 | Common Stock | 95,578(2) | $3.05(1) | 95,578(2) | I | By: James W. Wallis Living Trust | |||
| Series D Convertible Preferred Stock | $5 | 10/10/2023 | S | 159.3 | 05/03/2023 | (4) | Common Stock | 31,860(2) | $3.05(3) | 318.59 | I | By: James W. Wallis Living Trust | |||
| Series A Warrants | $6 | 10/10/2023 | S | 31,860 | 05/03/2023 | 05/03/2028 | Common Stock | 31,860(2) | $3.05(3) | 63,719(2) | I | By: James W. Wallis Living Trust | |||
| Series B Warrants | $6 | 10/10/2023 | S | 31,860 | 05/03/2023 | 05/03/2024 | Common Stock | 31,860(2) | $3.05(3) | 63,719(2) | I | By: James W. Wallis Living Trust | |||
| Series B Warrants | $6 | 05/01/2024 | X | 63,719(2) | 05/03/2023 | 05/03/2024 | Common Stock | 63,719(2) | $0 | 0 | I | By: James W. Wallis Living Trust | |||
| Explanation of Responses: |
| 1. On September 7, 2023, the Reporting Person Purchased for a purchase price of $1.5 million, the following securities: 204,222 shares of Common Stock; 477.89 shares of Series D Convertible Preferred Stock; 95,578 Series A Warrants; and 95,578 Series B Warrants. The values of the aforementioned securities were adjusted to reflect the reverse stock split that occurred on October 16, 2023. |
| 2. On October 16, 2023, the issuer effected a reverse stock split of the outstanding shares of the issuer's common stock at an exchange ratio of 1:28.5714286. All security amounts and conversion prices have been adjusted to reflect this reverse stock split. |
| 3. On October 10, 2023, the Reporting Person sold for $500,000, the following securities: 68,134 shares of Common Stock; 159.30 shares of Series D Convertible Preferred Stock; 31,860 Series A Warrants; and 31,860 Series B Warrants. |
| 4. The shares of Series D Convertible Preferred Stock have no expiration date. |
| /s/ James W. Wallis | 09/17/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||