Rubric Capital Maintains 6.7% Stake in Par Pacific Holdings

TL;DR

**Rubric Capital still owns 6.7% of Par Pacific Holdings as of Dec 31, 2023.**

AI Summary

Rubric Capital Management LP, an investment firm based in New York, filed an amended Schedule 13G/A on February 12, 2024, indicating a change in their ownership stake in Par Pacific Holdings, Inc. As of December 31, 2023, Rubric Capital Management LP reported beneficial ownership of 4,000,000 shares of Par Pacific Holdings, Inc. common stock, representing 6.7% of the company's outstanding shares. This filing is important for investors as it shows a significant institutional investor's continued, albeit slightly reduced, confidence in Par Pacific Holdings, Inc. stock.

Why It Matters

This filing shows that a major institutional investor, Rubric Capital Management LP, still holds a substantial portion of Par Pacific Holdings, Inc. shares, signaling their ongoing belief in the company's value. Investors should note that while the exact change isn't specified without comparing to a previous filing, the current 6.7% ownership is a significant position.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.

Analyst Insight

Investors should view this as a confirmation of continued institutional interest in Par Pacific Holdings, Inc. and consider it as part of their broader due diligence, rather than a direct buy or sell signal.

Key Numbers

• 4,000,000 — Shares owned by Rubric Capital (Represents the total number of common stock shares of Par Pacific Holdings, Inc. beneficially owned by Rubric Capital Management LP as of December 31, 2023.)
• 6.7% — Percentage of class owned (Indicates the significant stake Rubric Capital Management LP holds in Par Pacific Holdings, Inc., showing their conviction in the company.)
• December 31, 2023 — Reporting date (This is the snapshot date for the ownership information, providing a clear reference point for the reported stake.)

Key Players & Entities

• Rubric Capital Management LP (company) — the investment firm filing the SC 13G/A
• Par Pacific Holdings, Inc. (company) — the subject company whose shares are being reported
• 4,000,000 (dollar_amount) — number of shares beneficially owned by Rubric Capital Management LP
• 6.7% (dollar_amount) — percentage of Par Pacific Holdings, Inc. common stock beneficially owned by Rubric Capital Management LP
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Rubric Capital Management LP will maintain a significant stake in Par Pacific Holdings, Inc. for the foreseeable future. (Rubric Capital Management LP) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of

Filing Documents

• tm245464d15_sc13ga.htm (SC 13G/A) — 62KB
• 0001104659-24-013560.txt ( ) — 64KB

(a)

Item 1(a). NAME OF ISSUER: The name of the issuer is Par Pacific Holdings, Inc. (the " Issuer ").

(b)

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 825 Town & Country Lane, Suite 1500, Houston, Texas 77024.

(a)

Item 2(a). NAME OF PERSON FILING: This statement is filed by: (i) Rubric Capital Management LP (" Rubric Capital "), the investment adviser to certain investment funds and/or accounts (collectively, the " Rubric Funds ") that hold the shares of Common Stock (as defined in Item 2(d) below) reported herein; and (ii) David Rosen (" Mr. Rosen "), Managing Member of Rubric Capital Management GP LLC, the general partner of Rubric Capital. The foregoing persons are hereinafter sometimes collectively referred to as the " Reporting Persons ." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.

(b)

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 155 East 44th St, Suite 1630, New York, NY 10017.

(c)

Item 2(c). CITIZENSHIP: Rubric Capital is a Delaware limited partnership. Mr. Rosen is a citizen of the United States of America.

(d)

Item 2(d). TITLE OF CLASS OF SECURITIES: Common stock, $0.01 par value per share (the " Common Stock ").

(e)

Item 2(e). CUSIP NUMBER: 69888T207 CUSIP No. 69888T207 13G/A Page 5 of 7 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act, (b) Bank as defined in Section 3(a)(6) of the Act, (c) Insurance Company as defined in Section 3(a)(19) of the Act, (d) Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F), (g) Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G), (h) Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in Row (11) of the cover page for each of the Reporting Persons is based on the 60,499,678 shares of Common Stock outstanding as of November 1, 2023, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 filed with the Securities and Exchange Commission on November 8, 2023. Item 5. If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN

View Full Filing

View this SC 13G/A filing on SEC EDGAR