Prairie Operating Co. (PROP) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 14, 2026

Risk Assessment Details

Potential Dilution: 84.28% of current shares
Recent Dilution: 280.45% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
98M
Potential Supply
82M
Additional shares possible
Splits
None
Past 2 years

Summary

PROP currently has 97.7M outstanding shares. with significant dilution risk as 82.4M authorized shares could dilute existing holders by 84.3%. The company has significantly diluted shareholders by 280.45% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 14, 2026

10-Q filing | 97.7M shares outstanding

98M 82M
Apr 09, 2026

8-K filing: Prairie Operating Co. repurchased 13,727 shares of its Series F Convertible Preferred Stock from High Trail for $18,999,047.64 and issued a warrant to purchase 4,000,000 shares of Common Stock at an exercise price of $0.01 per share. ($19.0M proceeds)

50M 130M
Apr 07, 2026

8-K filing: Prairie Operating Co. sold 148,250 shares of Series F Preferred Stock to Buyers and agreed to issue warrants to purchase Common Stock on April 7, 2026, later amended to April 9, 2026.

50M 130M
Mar 25, 2026

8-K filing: Prairie Operating Co. amended a Securities Purchase Agreement to change the Anniversary Warrant Issuance Date to April 7, 2026, and agreed to pay the Buyers an aggregate amount of $3 million on April 6, 2026, unless waived.

50M 130M
Aug 12, 2025

10-Q filing | 50.3M shares outstanding

50M 130M
May 15, 2025

10-Q filing | 43.8M shares outstanding

44M 140M
Apr 22, 2025

S-3 filing: Prairie Operating Co. files an S-3 form to offer and sell common stock and preferred stock, with an aggregate initial offering price of common stock not to exceed $500,000,000.

27M 150M
Mar 26, 2025

8-K filing: Prairie Operating Co. entered into a Securities Purchase Agreement to issue and sell 148,250 shares of Series F Preferred Stock and warrants to purchase Common Stock, closing the preferred offering on March 26, 2025, with net proceeds of approximately $139.1 million, and also closed a concurrent common stock offering of 8,555,555 shares at $4.50 per share, with the underwriters exercising an option for an additional 1,181,349 shares. ($139.1M proceeds)

27M 29M
Mar 24, 2025

8-K filing: Prairie Operating Co. expects to enter into a Securities Purchase Agreement to issue and sell 150,000 shares of Series F Preferred Stock and warrants to purchase common stock, with net proceeds of approximately $140.8 million, and also references a concurrent offering of $35.0 million of common stock. ($150.0M proceeds)

27M 29M
Mar 17, 2025

8-K filing: Prairie Operating Co. amended its Purchase and Sale Agreement with Bayswater Resources LLC, extending the termination date to March 20, 2025, and setting the equity consideration issuable to Bayswater E&P at $16.0 million, not to exceed 5,249,639 shares. ($16.0M proceeds)

27M 29M
Mar 06, 2025

10-K filing | 26.9M shares outstanding

27M 29M
Feb 07, 2025

8-K filing: Prairie Operating Co. entered into a Purchase and Sale Agreement with Bayswater Resources, LLC to acquire certain oil and gas assets for $602.75 million, payable in cash and up to 5,249,639 shares of Prairie's common stock.

23M 33M
Dec 10, 2024

S-3/A filing: Prairie Operating Co. files an S-3/A form to offer and sell common stock and preferred stock from time to time, with an aggregate initial offering price of common stock not exceeding $250,000,000.

23M 33M
Nov 22, 2024

S-3/A filing: Prairie Operating Co. files an S-3/A form, potentially offering common stock and preferred stock with an aggregate initial offering price not exceeding $250,000,000.

23M 33M
Nov 08, 2024

10-Q filing | 22.9M shares outstanding

23M 2.7M
Oct 18, 2024

S-3 filing: Prairie Operating Co. files an S-3 form to offer and sell common stock and preferred stock from time to time, with an aggregate initial offering price of common stock not to exceed $150,000,000.

12M 14M
Oct 04, 2024

RW filing: The company has determined not to pursue the offering to which the Registration Statement relates at this time and has withdrawn the registration statement.

12M 14M
Oct 04, 2024

8-K filing: Prairie Operating Co. entered into a Standby Equity Purchase Agreement with YA II PN, LTD., a subordinated promissory note with First Idea Ventures LLC and The Hideaway Entertainment LLC, and a non-compensatory option purchase agreement with BOKA Energy LP, Rose Hill Holdings Limited, Anchorman Holdings Inc., and Blackstem Forest, LLC.

12M 14M
Aug 20, 2024

8-K filing: Prairie Operating Co. entered into an agreement to amend an asset purchase agreement, modify preferred stock terms, and completed a warrant exercise and stock conversion for proceeds of $24 million. ($24.0M proceeds)

12M 14M
Aug 09, 2024

10-Q filing | 12.0M shares outstanding

12M 14M
May 13, 2024

10-Q filing | 12.2M shares outstanding

12M 13M
Apr 09, 2024

S-1/A filing: Prairie Operating Co. is offering shares of its common stock. The intended use of proceeds is to finance the NRO Acquisition and for general corporate purposes.

10M 16M
Mar 20, 2024

S-1/A filing: Prairie Operating Co. is offering shares of its common stock. The closing price of the common stock on March 15, 2024, was $11.18. The company intends to use the net proceeds from this offering to finance the NRO Acquisition and the remainder for general corporate purposes.

10M 16M
Mar 19, 2024

10-K filing | 10.0M shares outstanding

10M 16M
Feb 09, 2024

S-1 filing: Prairie Operating Co. is offering shares of its common stock.

7.5M 18M
Dec 05, 2023

S-1/A filing: This S-1/A filing from Prairie Operating Co. relates to the resale of up to 24,286,304 shares of common stock by selling stockholders, including shares issuable upon conversion of preferred stock and exercise of warrants.

7.5M 18M
Nov 20, 2023

S-1/A filing: This S-1/A filing relates to the resale of up to 24,286,304 shares of common stock by selling stockholders.

7.5M 18M
Nov 14, 2023

10-Q filing | 7.5M shares outstanding

7.5M 18M
Nov 06, 2023

S-1/A filing: This S-1/A filing registers the resale of up to 24,286,304 shares of common stock by selling stockholders, including shares issuable upon conversion of preferred stock and exercise of warrants.

7.1M 19M
Oct 24, 2023

S-1/A filing: This S-1/A filing relates to the resale from time to time by the Selling Stockholders of up to an aggregate of 24,286,304 shares of common stock.

7.1M 19M
Oct 16, 2023

8-K filing: Prairie Operating Co. issued 11,447,619 shares of its common stock upon conversion of convertible debentures and payment of accrued interest. ($0.01M proceeds)

180M 0
Oct 16, 2023
Stock Split

8-K filing: Stock split 1-for-28.5714286 | Outstanding: 175,961,698 → 7,074,668

7.1M 15M
Sep 05, 2023

8-K filing: Prairie Operating Co. entered into an option purchase agreement with Gary C. Hanna, Edward Kovalik, Bristol Capital, LLC, and Georgina Asset Management, LLC, for the sale of options to acquire 200,000 shares of the company's common stock at $0.25 per share, with the transaction closing on August 30, 2023. ($0.0M proceeds)

180M 460M
Sep 05, 2023

S-1/A filing: This S-1/A filing registers the resale of up to 299,343,937 shares of common stock by selling stockholders, including shares issuable upon conversion of preferred stock and exercise of warrants.

180M 460M
Aug 25, 2023

S-1/A filing: This S-1/A filing relates to the resale from time to time by the Selling Stockholders of up to an aggregate of 299,343,937 shares of common stock of Prairie Operating Co.

180M 160M
Aug 17, 2023

8-K filing: The company completed a private placement (PIPE Transaction) on August 15, 2023, selling 1,131,856 shares of Common Stock, 20,000 shares of Series E Preferred Stock convertible into shares of Common Stock at a price of $0.175 per share, Series A warrants to purchase 1,131,856 shares of Common Stock and Series B warrants to purchase 1,131,856 shares of Common Stock to Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust. ($40.0M proceeds)

180M 160M
Aug 14, 2023

10-Q filing | 176.0M shares outstanding

180M 160M
Jul 27, 2023

S-1/A filing: This prospectus relates to the resale from time to time by the Selling Stockholders named in this prospectus of up to an aggregate of 299,343,937 shares of common stock of Prairie Operating Co.

170M 170M
Jun 16, 2023

S-1 filing: This is an S-1 filing for the resale of up to 1,465,363 shares of common stock, up to 99,292,858 shares of common stock issuable upon conversion of Series D preferred stock, and up to 198,585,716 shares of common stock issuable upon exercise of warrants by selling stockholders.

170M 170M
May 15, 2023

10-Q filing | 167.8M shares outstanding

170M 0
May 09, 2023

8-K filing: The company issued shares of common stock and Series D preferred stock to Bristol Investment and Barlock in exchange for their Original Debentures, and also issued common stock to American Natural Energy Corporation for $165,000. ($0.17M proceeds)

12M 25M
May 04, 2023

8-K filing: Creek Road, Inc. entered into an Amended and Restated Merger Agreement removing the reverse stock split, along with other agreements including a PIPE transaction, and will be renamed Prairie Operating Co. after the merger, expecting to commence trading on the OTCQB under the symbol "PROP" and consummate a reverse stock split of 1-28.57142857 after FINRA processes the company's pending request. ($0.17M proceeds)

12M 25M
Mar 31, 2023

10-K filing | 11.6M shares outstanding

12M 25M
Nov 14, 2022

10-Q filing | 12.7M shares outstanding

13M 24M
Oct 25, 2022

8-K filing: Creek Road, Inc. will merge with Prairie Operating Co., LLC, involving the issuance of common stock to Prairie members and a reverse stock split of Creek Road's common stock at a ratio between 1-23 and 1-30, as well as Creek Road issuing shares and warrants to Exok, Inc. for assets.

12M 25M
Sep 07, 2022

8-K filing: Creek Road Miners, Inc. entered into a Settlement Agreement with Alpha Capital Anstalt regarding a dispute over the partial exercise of warrants to purchase 600,000 shares of the Company's common stock, exchanging the Warrant Shares for a convertible promissory note in the principal amount of $900,000. ($0.9M proceeds)

12M 25M
Aug 15, 2022

10-Q filing | 12.2M shares outstanding

12M 25M
Jun 30, 2022

S-1/A filing: Creek Road Miners, Inc. is offering up to 12,721,659 shares of common stock by the selling shareholders named therein, consisting of: (i) 5,836,453 shares of Common Stock issuable upon the conversion of the Series C Preferred Stock, (ii) 3,501,872 shares of Common stock issuable upon the exercise of warrants at an exercise price of $1.50 per share, (iii) 2,716,667 shares of Common Stock issuable upon the exercise of certain other warrants and (iv) and 666,667 shares of Common Stock, in each case held by the Selling Shareholders.

12M 25M
Jun 29, 2022

S-1/A filing: Registration statement on Form S-1 relating to the offering of up to 12,721,659 shares of common stock by the selling shareholders.

12M 24M
Jun 16, 2022

S-1/A filing: This S-1/A filing relates to the resale of up to 12,721,659 shares of common stock by selling stockholders.

12M 25M
May 16, 2022

10-Q filing | 12.2M shares outstanding

12M 25M
May 03, 2022

S-1/A filing: This S-1/A filing relates to the resale of up to 12,721,659 shares of common stock by selling stockholders, including shares issuable upon conversion of Series C Preferred Stock and exercise of warrants.

12M 25M
May 03, 2022

8-K filing: An investor converted 500 shares of Series B Preferred Stock into 372,928 shares of Common Stock on April 4, 2022, and an additional 440 shares of Series B Preferred Stock into 380,769 shares of Common Stock on April 20, 2022.

10M 27M
Mar 31, 2022

10-K filing | 10.4M shares outstanding

10M 24M
Mar 11, 2022

S-1/A filing: This S-1/A filing relates to the resale of up to 10,387,078 shares of common stock by selling stockholders.

10M 24M
Jan 24, 2022

S-1 filing: This S-1 filing relates to the resale of up to 10,387,078 shares of common stock by selling stockholders.

8.8M 26M
Dec 10, 2021

8-K filing: Creek Road Miners, Inc. entered into securities purchase agreements with 20 investors for the sale of securities, including Series C Preferred Stock and warrants, for gross proceeds of $6,200,000.00. ($6.2M proceeds)

6.5M 18M
Nov 15, 2021

10-Q filing | 6.5M shares outstanding

6.5M 18M
Oct 08, 2021

8-K filing: Creek Road Miners, Inc. sold 500,000 shares of common stock and warrants to acquire 500,000 shares at $1.50 per share for $750,000 in cash. ($1.5M proceeds)

6.2M 18M
Sep 30, 2021

S-1/A filing: This S-1/A filing relates to the resale from time to time by the selling stockholders of the Company of up to 19,733,346 shares of the Company's common stock.

6.2M 18M
Sep 22, 2021

S-1 filing: This S-1 filing relates to the resale of up to 19,733,346 shares of common stock by selling stockholders.

6.2M 18M
Aug 31, 2021

8-K filing: Creek Road Miners, Inc. sold 2,333,340 shares of common stock and warrants to purchase 2,333,340 shares at $1.50 per share to 14 investors for $3,500,009.50 in cash, to be used for working capital. ($3.5M proceeds)

3.6M 890K
Aug 13, 2021

10-Q filing | 3.6M shares outstanding

3.6M 890K
Jul 26, 2021

S-1/A filing: Resale of up to an aggregate of 1,000,000 shares of common stock, issuable upon conversion of Series B Preferred Stock.

3.5M 1M
Jun 10, 2021

S-1/A filing: S-1/A filing for Wizard Brands, Inc. relating to the resale of up to 16,200,000 shares of common stock by selling stockholders.

3.5M 16M
May 19, 2021

S-1/A filing: This S-1/A filing relates to the resale of up to 16,200,000 shares of common stock by selling stockholders, consisting of shares issuable upon conversion of Series B Preferred Stock and shares issuable upon exercise of warrants.

3.5M 16M
May 17, 2021

10-Q filing | 3.5M shares outstanding

3.5M 16M
Apr 21, 2021

S-1 filing: S-1 filing for Wizard Brands, Inc. relating to the resale of up to 16,200,000 shares of common stock by selling stockholders.

3.5M 16M
Apr 02, 2021

8-K filing: The Registrant sold 5,000 shares of Series B Preferred Stock and warrants to purchase 10,000 shares of Series B Preferred Stock to Leviston Resources LLC for $5,000,000, and filed a Certificate of Designation for the Series B Preferred Stock. ($5.0M proceeds)

3.5M 0
Mar 29, 2021

10-K filing | 3.5M shares outstanding

3.5M 0
Mar 03, 2021

8-K filing: The company issued Series A Preferred Stock to Mr. Maatta, Bristol Capital, LLC, Mr. Kaufman, and Ms. Bowman in satisfaction of debts and compensation, and warrants to advisors and consultants. ($0.43M proceeds)

3.5M 0
Nov 16, 2020

10-Q filing | 3.5M shares outstanding

3.5M 0
Aug 14, 2020

10-Q filing | 3.5M shares outstanding

3.5M 0
Mar 30, 2020

10-K filing | 3.5M shares outstanding

3.5M 0
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