Battalion Oil Corp Faces Delisting Notice
Ticker: BATL · Form: 8-K · Filed: Jan 9, 2024 · CIK: 1282648
Complexity: simple
Sentiment: bearish
Topics: delisting, regulatory-filing, corporate-governance
TL;DR
**BATL got a delisting notice, stock's in trouble.**
AI Summary
Battalion Oil Corporation (BATL) filed an 8-K on January 9, 2024, reporting an event that occurred on January 5, 2024, related to a notice of delisting or failure to satisfy a continued listing rule. This filing indicates potential issues with the company's ability to remain listed on a major stock exchange, which could significantly impact the stock's liquidity and investor confidence. For current or prospective shareholders, this means increased risk of the stock becoming harder to trade and potentially losing value.
Why It Matters
A delisting notice signals severe financial or operational distress, making the stock illiquid and potentially worthless for investors.
Risk Assessment
Risk Level: high — A delisting notice is a critical event that can lead to a stock being removed from major exchanges, severely impacting its tradability and value.
Analyst Insight
Investors should consider selling their shares or avoiding this stock due to the high risk of delisting and potential loss of value and liquidity.
Key Players & Entities
- Battalion Oil Corporation (company) — the registrant filing the 8-K
- January 5, 2024 (date) — date of the earliest event reported
- January 9, 2024 (date) — date the 8-K was filed
- 001-35467 (other) — Commission File Number
- 832-538-0300 (other) — Registrant's telephone number
Forward-Looking Statements
- Battalion Oil Corporation's stock will experience significant downward pressure. (Battalion Oil Corporation) — high confidence, target: Q1 2024
- The company will likely be delisted from its current exchange. (Battalion Oil Corporation) — medium confidence, target: Q2 2024
FAQ
What is the primary reason Battalion Oil Corporation filed this 8-K?
Battalion Oil Corporation filed this 8-K under 'ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing', indicating they received a notice regarding their listing status.
When did the event reported in this 8-K filing occur?
The earliest event reported in this 8-K occurred on January 5, 2024, as stated in the 'Date of Report (Date of earliest event reported): January 5, 2024' section.
What is Battalion Oil Corporation's business address?
Battalion Oil Corporation's business address is 820 Gessner Road, Suite 1100, Houston, Texas 77024, according to the 'BUSINESS ADDRESS' section of the filing.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0001282648, as listed under 'COMPANY DATA: CENTRAL INDEX KEY'.
Has Battalion Oil Corporation operated under different names previously?
Yes, the filing indicates former company names including HALCON RESOURCES CORP (changed 20120209), RAM ENERGY RESOURCES INC (changed 20060518), and TREMISIS ENERGY ACQUISITION CORP (changed 20040304).
Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-01-09 17:26:56
Key Financial Figures
- $0.0001 B — ich registered Common Stock par value $0.0001 BATL NYSE American Indicate by check
Filing Documents
- batl-20240105x8k.htm (8-K) — 39KB
- batl-20240105xex99d1.htm (EX-99.1) — 9KB
- batl-20240105xex99d1001.jpg (GRAPHIC) — 8KB
- 0001558370-24-000156.txt ( ) — 187KB
- batl-20240105.xsd (EX-101.SCH) — 4KB
- batl-20240105_def.xml (EX-101.DEF) — 3KB
- batl-20240105_lab.xml (EX-101.LAB) — 17KB
- batl-20240105_pre.xml (EX-101.PRE) — 10KB
- batl-20240105x8k_htm.xml (XML) — 5KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 5, 2024, Battalion Oil Corporation (the " Company ") received written notice (the " Notice ") on behalf of the NYSE American LLC indicating that, since the Company did not have an annual meeting of stockholders for the fiscal year ended December 31, 2022 by December 31, 2023 (the " 2023 Annual Meeting "), the Company is not in compliance with its continued listing standards set forth in Section 704 of the NYSE American Company Guide (the " Company Guide "). The Company has scheduled its 2023 Annual Meeting to be held on February 7, 2024, at 11:00 a.m., Central Time, at Two Memorial City Plaza, 820 Gessner Road, Live Oak Training Center (Room 107), Houston, Texas 77024, at which time the Company expects to regain compliance with Section 704 of the Company Guide.
01
Item 8.01 Other Events. On January 9, 2024, in accordance with Section 402(g) of the Company Guide, the Company issued a press release disclosing receipt of the Notice. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are furnished as part of this Current Report on Form 8-K: Exhibit No. Description 99.1 Press Release, dated January 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BATTALION OIL CORPORATION January 9, 2024 By: /s/ Matthew B. Steele Name: Matthew B. Steele Title: Chief Executive Officer 3