Icahn Amends CVR Energy Stake Filing

TL;DR

Icahn filed another update on his CVR Energy stake. Still watching.

AI Summary

On March 18, 2024, Carl C. Icahn filed an amendment (Amendment No. 29) to his Schedule 13D for CVR Energy, Inc. The filing indicates a change in beneficial ownership, with Icahn Enterprises L.P. and related entities continuing to hold a significant stake in the company. No specific dollar amounts or new share counts were detailed in this particular amendment.

Why It Matters

This filing updates the market on Carl Icahn's ongoing involvement and potential influence over CVR Energy, Inc., a major player in the petroleum refining sector.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings by significant shareholders like Carl Icahn can signal potential changes in strategy or control, impacting the stock price.

Key Players & Entities

• Carl C. Icahn (person) — Filing party and beneficial owner
• CVR Energy, Inc. (company) — Subject company
• Icahn Enterprises L.P. (company) — Related entity holding shares
• AMERICAN ENTERTAINMENT PROPERTIES CORP. (company) — Group member
• BECKTON CORP. (company) — Group member
• ICAHN ENTERPRISES G.P. INC. (company) — Group member
• IEP ENERGY HOLDING LLC (company) — Group member

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 (Title of Class of Securities) 12662P

Filing Documents

• tm249135d2_sc13da.htm (SC 13D/A) — 76KB
• 0001104659-24-035662.txt ( ) — 78KB

Security and Issuer

Item 1. Security and Issuer The Schedule 13D filed with the Securities and Exchange Commission on January 13, 2012 (as previously amended, the “Initial 13D”), by the Reporting Persons with respect to the shares of Common Stock, par value $0.01 (the “Shares”), issued by CVR Energy, Inc. (the “Issuer”), is hereby further amended to furnish the additional information set forth herein. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Initial 13D, as amended.

Purpose of Transaction

Item 4. Purpose of Transaction

of the Schedule 13D

Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The Reporting Persons continuously evaluate their investment in the Issuer and its subsidiaries and, depending on various factors including, but not limited to, the price of the Shares or equity interests of the applicable subsidiaries, the terms and conditions of available transactions, prevailing market conditions and such other considerations as the Reporting Persons deem relevant may, at any time or from time to time, and subject to any required regulatory approvals, acquire or dispose of additional Shares and/or other equity, debt, notes, instruments or other securities of the Issuer and/or its subsidiaries on the open market, in privately negotiated transactions, directly from or to the Issuer, upon the exercise or conversion of securities convertible into or exercisable or exchangeable for other securities or otherwise. Representatives of the Reporting Persons discuss from time to time with the Issuer’s and/or its subsidiaries’ management, directors, stockholders and other parties, the Issuer’s and its subsidiaries’ performance, business, strategic direction, capital structure, prospects and management, as well as other ways of maximizing stockholder value, which may include extraordinary transactions. The Reporting Persons and the Issuer consider from time to time, and currently are considering, potential strategic transactions available to the Issuer and its subsidiaries, which may include the acquisition of additional entities, assets or businesses, including the acquisition of material amounts of refining assets through negotiated mergers and/or stock or asset purchase agreements by the Issuer or its subsidiaries. The Reporting Persons may participate in such acquisitions, including by providing financing to the Issuer or its subsidiaries through the acquisition of additional equity of the Issuer and/or its subsidiaries, providing loans to the Issuer and/o

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Items 5(a), 5(b) and 5(c) of the Schedule 13D are hereby amended and restated in their entirety as follows: (a) The Reporting Persons may be deemed to beneficially own, in the aggregate, 66,692,381 Shares, representing approximately 66.3% of the Issuer’s outstanding Shares (based upon 100,530,599 Shares outstanding as of February 16, 2024, as disclosed by the Issuer in the Issuer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission on February 21, 2024). (b) IEP Energy Holding has sole voting power and sole dispositive power with regard to 51,192,381 Shares. Each of AEP, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn has shared voting power and shared dispositive power with regard to such Shares. Icahn Enterprises Holdings has sole voting and dispositive power with regard to 15,500,000 Shares. Each of AEP, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn has shared voting power and shared dispositive power with regard to such Shares. (c) The Reporting Persons have not effected any transactions with respect to the Shares during the past 60 days. SIGNATURE After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 18, 2024 IEP ENERGY HOLDING LLC By: /s/ Ted Papapostolou Name: Ted Papapostolou Title: Chief Financial Officer and Secretary AMERICAN ENTERTAINMENT PROPERTIES CORP. By: /s/ Ted Papapostolou Name: Ted Papapostolou Title: Chief Financial Officer, Treasurer and Secretary ICAHN ENTERPRISES HOLDINGS L.P. By: Icahn Enterprises G.P. Inc., its general partner ICAHN ENTERPRISES G.P. INC. By: /s/ Ted Papapostolou Name: Ted Papapostolou Title: Chief Financial Officer and Secretary BECKTON CORP. By: /s/ Ted P

View Full Filing

View this SC 13D/A filing on SEC EDGAR