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

Issuer:     BATTALION OIL CORP (BATL)
CIK:        0001282648
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001558370-24-004283
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Battalion Oil sells $19.5M Series A-3 Preferred to key holders; credit deal amended with $38M equity clause
--------------------------------------------------------------------------------

- Sold 20,000 shares Series A-3 Preferred at $975/sh (~$19.5M); 14.5% div, convertible at $6.83 after 120 days.
- Third Amendment to existing credit facility requires ≥$38M equity cash by March 31, 2024; no new debt incurred.
- Amendment removes PDP Production Test and APOD Economic Test; revises approved plan of development.
- Purchasers are Luminus, Oaktree, LSP—three largest shareholders holding 50% of board seats.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1282648/000155837024004283/0001558370-24-004283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1282648/000155837024004283/batl-20240327x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-004283

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