On April 8, 2026, Prairie Operating Co. announced that it has entered into a letter agreement with Hudson Bay PH XIX LLC, whereby the company will repurchase 13,727 shares of its Series F Convertible Preferred Stock for a total cash payment of $18,999,047.64. This transaction is significant as it not only involves a substantial cash outflow but also includes the issuance of common stock to cover accrued but unpaid dividends on the preferred shares. The agreement stipulates that the dividends will be paid in shares of common stock, calculated based on the market stock payment price at the time of repurchase. Additionally, Prairie Operating Co. will issue a warrant to Hudson Bay for the purchase of 4,000,000 shares of common stock at an exercise price of $0.01 per share. This warrant is immediately exercisable and will terminate six months after the last share of Series F Preferred is outstanding. The agreement also includes provisions for a second warrant, contingent upon certain conditions being met by July 8, 2026. This strategic move is expected to enhance the company's liquidity position while also providing Hudson Bay with significant equity participation in Prairie Operating Co. The company has also amended previous agreements to adjust the terms related to the issuance of anniversary warrants, reflecting a proactive approach to managing its capital structure and investor relations.

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