Bristol Investment Fund Updates Prairie Operating Co. Stake
Ticker: PROP · Form: SC 13D/A · Filed: Jan 3, 2024 · CIK: 1162896
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, amendment, shareholder-activism
TL;DR
**Bristol Investment Fund just updated its Prairie Operating Co. stake, signaling continued influence.**
AI Summary
Bristol Investment Fund Ltd. filed an Amendment No. 16 to its Schedule 13D on January 2, 2024, regarding its ownership in Prairie Operating Co. This filing updates previous disclosures, indicating ongoing significant influence by Bristol Capital Advisors, LLC and its affiliates, including Paul Kessler. Investors should note that Bristol Capital Advisors, LLC, through its various entities, continues to be a major stakeholder, which could impact future strategic decisions and the company's direction.
Why It Matters
This filing signals continued significant influence by Bristol Investment Fund Ltd. and its affiliates over Prairie Operating Co., which could shape the company's strategic direction and future performance.
Risk Assessment
Risk Level: medium — The risk is medium because a major shareholder's continued influence can lead to significant strategic shifts, which may or may not align with all shareholders' interests.
Analyst Insight
Investors should monitor future filings from Bristol Investment Fund Ltd. and its affiliates for any changes in their ownership stake or stated intentions, as these could signal potential strategic shifts for Prairie Operating Co.
Key Players & Entities
- Bristol Investment Fund Ltd. (company) — the entity filing the SC 13D/A Amendment No. 16
- Prairie Operating Co. (company) — the subject company in which Bristol Investment Fund Ltd. holds shares
- Bristol Capital Advisors, LLC (company) — an affiliate of the filing entity, authorized to receive notices
- Paul Kessler (person) — a group member associated with Bristol Capital Advisors
- Amy Wang, Esq. (person) — authorized to receive notices for Bristol Capital Advisors, LLC
FAQ
What is the purpose of this specific filing?
This filing is an Amendment No. 16 to a Schedule 13D, indicating an update to previously reported beneficial ownership information by Bristol Investment Fund Ltd. regarding Prairie Operating Co.
Who is authorized to receive notices and communications for the filing person?
Amy Wang, Esq. of Bristol Capital Advisors, LLC, located at 555 Marin Street, Suite 140, Thousand Oaks, CA 91360, with a phone number of (310) 331-8480, is authorized to receive notices and communications.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was January 2, 2024.
What is the CUSIP number for Prairie Operating Co.'s Common Stock?
The CUSIP number for Prairie Operating Co.'s Common Stock is 739650109.
What were the previous names of Prairie Operating Co.?
Prairie Operating Co. was formerly known as Creek Road Miners, Inc. (name change on 20210715), WIZARD BRANDS, INC. (name change on 20200814), and WIZARD ENTERTAINMENT, INC. (name change on 20181009).
Filing Stats: 1,862 words · 7 min read · ~6 pages · Grade level 8.5 · Accepted 2024-01-02 19:02:11
Key Financial Figures
- $1,000,000 — sion of principal and interest due on a $1,000,000 debenture issued in May 2023, pursuant
- $5.00 — stock to an unaffiliated third party at $5.00 per share on December 29, 2023. Bristol
Filing Documents
- formsc13da.htm (SC 13D/A) — 128KB
- 0001493152-24-000152.txt ( ) — 130KB
From the Filing
SC 13D/A 1 formsc13da.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 16)* Prairie Operating Co. (Name of Issuer) Common Stock (Title of Class of Securities) 739650109 (CUSIP Number) Amy Wang, Esq. Bristol Capital Advisors, LLC 555 Marin Street, Suite 140 Thousand Oaks, CA 91360 (310) 331-8480 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 2, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 739650109 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Bristol Investment Fund, Ltd. 98-0335509 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. Sole Voting Power 843,354* * common stock only (excludes 797,072 shares underlying Series D preferred stock, 292,472 shares underlying Series D “A” warrant and 292,472 shares underlying Series D “B” warrant) 8. Shared Voting Power 9. Sole Dispositive Power 843,354* * common stock only (excludes 797,072 shares underlying Series D preferred stock, 292,472 shares underlying Series D “A” warrant and 292,472 shares underlying Series D “B” warrant) 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 843,354* * common stock only (excludes 797,072 shares underlying Series D preferred stock, 292,472 shares underlying Series D “A” warrant and 292,472 shares underlying Series D “B” warrant) 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 8.9% 14. Type of Reporting Person (See Instructions) CO 2 CUSIP No. 739650109 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Bristol Capital, LLC 95-4717240 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. Sole Voting Power 384,160 8. Shared Voting Power 9. Sole Dispositive Power 384,160 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 384,160 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 4.054% 14. Type of Reporting Person (See Instructions) CO 3 CUSIP No. 739650109 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Paul Kessler 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) PF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. Sole Voting Power 3,250* *common stock only (excludes shares underlying restricted stock unit) 8. Shared Voting Power 9. Sole Dispositive Power 3,250* *common stock only (excludes shares underlying restricted stock unit granted) 10. Shared Dispositive