Carbon Energy Corporation (OTCPK:CRBO) intends to use the proceeds received from an amendment to its existing Senior Secured Note Credit Facility to $41 million, issuance $3 million of senior subordinated notes due February 15, 2024, issuance of 585 Class A Units of Carbon California as partial consideration for the subordinated notes and issued of an additional 5,000 Class A Units of Carbon California to Prudential Capital Energy Partners, L.P. for $5 million capital contribution and an additional 5,000 Class A Units of Carbon California to Carbon in exchange for a $5 million capital contribution, to fund field development projects and to fund future complementary acquisitions and for general working capital purposes of Carbon California.