secwatch.observer — SEC 8-K summary
======================================

Issuer:     BATTALION OIL CORP (BATL)
CIK:        0001282648
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0001558370-23-015554
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 5.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Battalion Oil raises ~$37M from existing shareholders via Series A-1 preferred with 14.5% dividend
--------------------------------------------------------------------------------

- Sold 38,000 shares of Series A-1 convertible preferred to Luminus, Oaktree, and LSP funds for ~$37.05M.
- Proceeds used for general corporate and working capital, including scheduled debt principal and interest payments.
- Preferred stock carries a 14.5% annual dividend rate; unpaid dividends increase liquidation preference at 16% per annum.
- Conversion price initially $7.63 per share; holders granted registration rights on underlying common shares.
- Series A-1 has limited voting rights but consent rights over senior stock issuance and dividend payments on common.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1282648/000155837023015554/0001558370-23-015554-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1282648/000155837023015554/batl-20230906x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-015554

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer