Galloway Capital Partners Amends Koil Energy Stake

TL;DR

Galloway Capital Partners just filed an amendment on Koil Energy Solutions. Big changes coming?

AI Summary

Galloway Capital Partners, LLC, through an amendment filed on March 6, 2024, has reported a change in its beneficial ownership of Koil Energy Solutions, Inc. The filing indicates a shift in control or a significant stake acquisition, though specific dollar amounts and exact share percentages are not detailed in this excerpt. This amendment suggests a potential strategic move by Galloway Capital Partners concerning Koil Energy Solutions.

Why It Matters

This filing signals a potential shift in control or significant influence over Koil Energy Solutions, Inc. by Galloway Capital Partners, which could impact the company's strategic direction and stock performance.

Risk Assessment

Risk Level: medium — SC 13D filings often indicate significant changes in beneficial ownership, which can lead to volatility and strategic shifts for the subject company.

Key Players & Entities

• Galloway Capital Partners, LLC (company) — Filing entity
• Koil Energy Solutions, Inc. (company) — Subject company
• BRUCE GALLOWAY (person) — Group member

FAQ

Key Financial Figures

• $0.001 — INC. (Name of Issuer) Common Stock, $0.001 par value per share ( Title of Class

Filing Documents

• e5471_sc13d.htm (SC 13D) — 53KB
• e5471_ex99-1.htm (EX-99.1) — 6KB
• e5471_ex99-2.htm (EX-99.2) — 6KB
• 0001731122-24-000358.txt ( ) — 67KB

Security and Issuer

Item 1. Security and Issuer This Schedule 13D relates to the common stock, par value $0.001 per share (“Common Stock”), of Koil Energy Solutions, Inc., a Nevada corporation (the “Issuer”). The principal executive office of the Issuer is located at 1310 Rankin Road, Houston, TX 77073. Information given in response to each item below shall be deemed incorporated by reference in all other items below. As of March 6, 2024, the Reporting Persons (defined below) beneficially owned an aggregate of 985,651 shares of Common Stock, representing approximately 8.29% of the outstanding shares of Common Stock.

Identity and Background

Item 2. Identity and Background This Schedule 13D is being filed on behalf of each of the following persons (collectively, the “Reporting Persons”): (i) Galloway Capital Partners, LLC (ii) Bruce Galloway Galloway Capital Partners, LLC is a Delaware limited liability company, and Bruce Galloway is a citizen of Florida. Bruce Galloway is the managing member of Galloway Capital Partners, LLC. The address of the principal business office of each Reporting Person is 323 Sunny Isles Blvd, 7 th Floor, Sunny Isles Beach, FL 33160. During the last five years, neither Reporting Person nor any executive officer or director of Galloway Capital Partners, LLC has (i) been convicted in any criminal proceeding or (ii) been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was subject to any judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Source and Amount of Funds or other Consideration

Item 3. Source and Amount of Funds or other Consideration . Galloway Capital Partners, LLC acquired an additional 200,370 shares of Common Stock in open market purchases from February 2024 through March 2024. The aggregate purchase price for the shares of Common Stock was approximately $.46 per share. Such shares of Common Stock were purchased with investment capital of Galloway Capital Partners, LLC and Mr. Galloway. These purchases were made on the following dates: Date Amount Price 2/21/2024 150,500 0.45 2/28/2024 2500 0.455 2/28/2024 2500 0.46 2/28/2024 2500 0.465 2/29/2024 5000 0.465 2/29/2024 17000 0.475 3/4/2024 13,370 0.51

Purpose of Transaction

Item 4. Purpose of Transaction. Each Reporting Person acquired the securities described in this Schedule 13D for investment purposes and intend to review its investment in the Issuer on a continuing basis. Each Reporting Person may from time to time acquire additional securities of the Issuer, or retain or sell all or a portion of the shares then held by such Reporting Person, in the open market, block trades, underwritten public offerings or privately negotiated transactions. Any actions any Reporting Person might undertake with respect to its investment in the Issuer may be made at any time and from time to time and will be dependent upon such Reporting Person’s review of numerous factors, including, but not limited to: ongoing evaluation of the Issuer’s business, financial condition, operations, prospects and strategic alternatives; price levels of the Issuer’s securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; tax considerations; liquidity of the Issuer’s securities; and other factors and future developments. Each Reporting Person may consider, explore and/or develop plans and/or make proposals (whether preliminary or final) with respect to, among other things, the Issuer’s performance, operations, management, governance (including potential changes to the Board), conflicted party transactions, capital allocation policies, and strategy and plans of the Issuer. Each Reporting Person intends to engage the Board and management with respect to the matters referred to in the preceding sentence. In addition, each Reporting Person may, at any time and from time to time, (i) review or reconsider its position and/or change its purpose and/or formulate plans or proposals with respect thereto and (ii) propose or consider one or more of the actions described in subparagraphs (a) - (j) of Item 4 of Schedule 13D. On March 6, 2024, the Reporting Person

Contracts, Arrangements, Understandings or Relationships

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer . Except for the relationships described above and in the responses to Items 4 and 5 herein, none of the Reporting Persons, nor, to the best of their knowledge, any persons identified in Item 2 hereof has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person, with respect to any securities of the Issuer.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Exhibit No. Description of Document 99.1 Joint Filing Agreement 99.2 Letter, dated March 6, 2024, from Galloway Capital Partners, LLC to the Chairman and Chief Executive Officer of Koil Energy Solutions, Inc. [The remainder of this page intentionally left blank] SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of each of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: March 6, 2024 By: /s/ Bruce Galloway Name: Bruce Galloway GALLOWAY CAPITAL PARTNERS, LLC By: /s/ Bruce Galloway Name: Bruce Galloway Title: Managing Member

View Full Filing

View this SC 13D filing on SEC EDGAR