Icahn Amends CVR Energy Stake Filing

TL;DR

Icahn updated his CVR Energy filing again. Still a major player.

AI Summary

On August 19, 2024, Carl C. Icahn, through various entities including Icahn Enterprises L.P., filed an amendment to their Schedule 13D regarding CVR Energy, Inc. The filing indicates a change in beneficial ownership, though specific new holdings or sales are not detailed in this excerpt. The filing is an amendment to a previous filing made under the Securities Exchange Act of 1934.

Why It Matters

This filing is an update to Carl Icahn's significant ownership in CVR Energy, Inc., which could signal potential strategic moves or changes in his investment approach.

Risk Assessment

Risk Level: medium — Changes in filings by major shareholders like Carl Icahn can indicate shifts in strategy or potential market impact.

Key Players & Entities

• Carl C. Icahn (person) — Filing party and beneficial owner
• CVR Energy, Inc. (company) — Subject company
• Icahn Enterprises L.P. (company) — Filing entity and related group member
• 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
• $1.5 million — requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations
• $500,000 — requiring him to pay a civil penalty of $500,000 and to cease and desist from committing

Filing Documents

• tm2421713d9_sc13da.htm (SC 13D/A) — 21KB
• 0001104659-24-090935.txt ( ) — 23KB

Identity and Background

Item 2. Identity and Background

of the Initial 13D is hereby amended and

Item 2 of the Initial 13D is hereby amended and supplemented as follows: On August 19, 2024, Icahn Enterprises L.P. (“IEP”) and Carl C. Icahn entered into settlement agreements with the U.S. Securities and Exchange Commission (the “SEC”), in connection with its inquiry previously disclosed by IEP. In connection with that settlement, the SEC entered an order in an administrative proceeding that contains non-scienter based findings that IEP failed to disclose in its Forms 10-K for the years 2018, 2019 and 2020 that Mr. Icahn pledged IEP securities as collateral to secure personal margin loans as required by Item 403(b) of Regulation S-K. The order relating to Mr. Icahn contains non-scienter based findings that, while Mr. Icahn’s prior Schedule 13D filings generally disclosed that he had pledged IEP depository units as collateral for personal margin loans, subsequent Schedule 13D filings were not amended to describe loan agreements and amendments to loan agreements or to attach guarantees as required by Items 6 and 7 of Schedule 13D. Without admitting or denying the SEC’s allegations (other than with respect to the SEC’s jurisdiction), under the terms of the settlements, (i) IEP consented to the entry of an order requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations and any future violations of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 13a-1 thereunder, and (ii) Mr. Icahn consented to the entry of an order requiring him to pay a civil penalty of $500,000 and to cease and desist from committing or causing any violations of Section 13(d)(2) of the Exchange Act and Rule 13d-2(a) thereunder. 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: August 19

View Full Filing

View this SC 13D/A filing on SEC EDGAR