Prairie Operating Co. Files 8-K with Unaudited Pro Forma Condensed Combined Financial Information

Prairie Operating Co. recently submitted a Form 8-K filing to the Securities and Exchange Commission (SEC) on November 27, 2024. In this filing, the Company disclosed unaudited financial statements of Nickel Road Operating LLC (NRO) for the nine months ended September 30, 2024, and the unaudited pro forma condensed combined financial information as of the same date. These financial details are instrumental in understanding the recent business developments of Prairie Operating Co.

The unaudited financial statements of NRO as of and for the nine months ended September 30, 2024, were submitted as Exhibit 99.1 in the filing, while the unaudited pro forma condensed combined financial information of Prairie Operating Co. as of and for the same period were presented as Exhibit 99.2. These financial statements and information are crucial for stakeholders and analysts in assessing the impact of recent transactions and events on the company’s financial standing.

The NRO Acquisition, which was completed on October 1, 2024, involved a total consideration of $84.5 million in cash. The transaction was accounted for as an asset acquisition under the Accounting Standards Codification Topic 805 – Accounting for Business Combinations (ASC 805). The filing elaborated on the Purchase Price breakdown and the subsequent adjustments made following the transaction closure.

Furthermore, the filing detailed the Company’s recent financial events, including the sale of all the Company’s cryptocurrency mining equipment and the related asset purchase agreement dated January 23, 2024. It also highlighted subsequent financial events such as the issuance of the Senior Convertible Note and the Subordinated Note, aligning with the Company’s strategic financial planning.

The unaudited pro forma condensed combined financial information disclosed in the filing offers a comprehensive view of the Company’s financial performance, combining both historical and projected figures. It provides stakeholders with insights into the Company’s financial standing and the potential impact of recent deals, acquisitions, and financial transactions on its overall financial health.

The filing signifies Prairie Operating Co.’s commitment to transparency and disclosure, ensuring that investors and the market have access to relevant financial data to make informed decisions. This information is integral for stakeholders to gauge the Company’s financial stability and

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Prairie Operating’s 8K filing here.

Prairie Operating Company Profile

Prairie Operating Co engages in developing energy to meet growing demand, while protecting the environment. The company was formerly known as Creek Road Miners, Inc and changed its name to Prairie Operating Co in May 2023. Prairie Operating Co is based in Oklahoma City, Oklahoma.