LSP Group Ups Stake in Battalion Oil to 14.9%

TL;DR

LSP Group now owns 14.9% of Battalion Oil, filing an amended 13D.

AI Summary

LSP Generation IV, LLC and LSP Investment Advisors, LLC, collectively referred to as the "Reporting Persons," have amended their Schedule 13D filing regarding Battalion Oil Corporation. As of March 29, 2024, they beneficially own 10,500,000 shares of common stock, representing approximately 14.9% of the outstanding shares. This amendment reflects changes in beneficial ownership and potentially their intentions or strategy concerning Battalion Oil Corporation.

Why It Matters

This filing indicates a significant ownership stake by an investment group, which could signal future strategic actions or influence over Battalion Oil Corporation's direction.

Risk Assessment

Risk Level: medium — Significant ownership changes and amendments to Schedule 13D filings can indicate potential activist investor involvement or strategic shifts, introducing uncertainty.

Key Numbers

• 10,500,000 — Shares Owned (Represents a significant stake in Battalion Oil Corporation.)
• 14.9% — Ownership Percentage (Indicates substantial control or influence by the reporting persons.)

Key Players & Entities

• LSP Generation IV, LLC (company) — Filing entity
• LSP Investment Advisors, LLC (company) — Filing entity
• Battalion Oil Corporation (company) — Subject company
• 10,500,000 (dollar_amount) — Number of shares beneficially owned
• 14.9% (dollar_amount) — Percentage of outstanding shares owned
• March 29, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie
• $3.7 million — ggregate consideration of approximately $3.7 million pursuant to the Series A-3 Purchase Agr
• $6.83 — ce of the Series A-3 Preferred Stock is $6.83 per share and is subject to adjustment

Filing Documents

• ef20025575_sc13da.htm (SC 13D/A) — 116KB
• 0001140361-24-016684.txt ( ) — 118KB

is hereby amended by adding the following

Item 3 is hereby amended by adding the following: As described in Item 4 below, on March 27, 2024, Gen IV purchased 3,789 shares of Series A-3 Convertible Redeemable Preferred Stock of the Issuer, par value $0.0001 per share (the "Series A-3 Preferred Stock"), for aggregate consideration of approximately $3.7 million pursuant to the Series A-3 Purchase Agreement, dated March 27, 2024 (the "Series A-3 Purchase Agreement"), by and among the Issuer, Gen IV and the other purchasers party thereto. The source of funds for such purchase was working capital of Gen IV. Item 4. Purpose of Transaction.

is hereby amended by adding the following

Item 4 is hereby amended by adding the following: The information set forth in amended Items 3 and 6 and the Exhibits to Amendment No. 4 are incorporated herein by reference. On March 27, 2024, the Issuer, Gen IV and the other purchasers party thereto entered into the Series A-3 Purchase Agreement. On March 27, 2024, Gen IV purchased 3,789 shares of Series A-3 Preferred Stock for approximately $3.7 million. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

is further amended by adding the following

Item 6 is further amended by adding the following: Series A-3 Purchase Agreement On March 27, 2024, the Issuer, Gen IV and the other purchasers party thereto entered into the Series A-3 Purchase Agreement, pursuant to which Gen IV purchased 3,789 shares of Series A-3 Preferred Stock for approximately $3.7 million. The Series A-3 Purchase Agreement also provides, among other things, that the affirmative vote or prior written consent of the purchasers of Series A-3 Preferred Stock holding at least two-thirds (66 2/3) of the shares held by such purchasers must be obtained prior to the entry by Issuer into any transaction that is expected to result in a change of control, unless each holder of outstanding shares of Series A-3 Preferred Stock is given the option to receive a cash payment per share equal to the then applicable Redemption Price (as defined in the Series A-3 Certificate of Designations). 5 The foregoing description of the Series A-3 Purchase Agreement is qualified in its entirety by reference to the full text of the Series A-3 Purchase Agreement, a copy of which is attached as Exhibit 10.16 to this Amendment No. 4 and incorporated by reference herein. Series A-3 Certificate of Designations portion of the shares of Series A-3 Preferred Stock may be converted into Common Stock at any time based on the then applicable liquidation preference (as determined in accordance with the Series A-3 Certificate of Designations) divided by the applicable conversion price (the "Conversion Ratio"). The ordinary conversion price of the Series A-3 Preferred Stock is $6.83 per share and is subject to adjustment for stock splits, combinations, certain distributions or similar events.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Schedule 13D is true, complete and correct. Dated: March 29, 2024 Gen IV Investment Opportunities, LLC By: /s/ Jeff Wade Name: Jeff Wade Title: Chief Compliance Officer LSP Generation IV, LLC By: /s/ Jeff Wade Name: Jeff Wade Title: Chief Compliance Officer LSP Investment Advisors, LLC By: /s/ Jeff Wade Name: Jeff Wade Title: Chief Compliance Officer and Associate General Counsel 8

View Full Filing

View this SC 13D/A filing on SEC EDGAR