Battalion Oil raises $19.5M via Series A-4 Preferred Stock issuance to existing holders

BATTALION OIL CORP

Aggregate purchase price of ~$19.5M from funds managed by Luminus, Oaktree, and LSP Investment Advisors.
Series A-4 Preferred Stock carries a 14.5% annual dividend rate; unpaid dividends accrete at 16%.
Conversion price initially $6.42 per share; convertible into common stock after 120 days.
Proceeds to be used for general corporate and working capital, including debt payments.
Registration rights granted for common shares issuable upon conversion of the preferred.

item 1.01 item 3.02 item 5.03 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BATTALION OIL CORP entered into Series A-4 Purchase Agreement with certain funds managed by Luminus Management, LLC, Oaktree Capital Management, LP, and LSP Investment Advisors, LLC valued at approximately $19,500,000 (effective 2024-05-13).

Action: entry
Agreement: equity purchase
Counterparty: certain funds managed by Luminus Management, LLC, Oaktree Capital Management, LP, and LSP Investment Advisors, LLC
Value: approximately $19,500,000
Effective: 2024-05-13

Exact text from the filing

On May 13, 2024, Battalion Oil Corporation, a Delaware corporation (the “ Company ” or “ we ”), entered into a Purchase Agreement (the “ Series A-4 Purchase Agreement ”) with each of the purchasers set forth on Schedule A thereto (the “ Series A-4 Purchasers ”), pursuant to which the Company agreed to sell to the Buyers, in a private placement, an aggregate of 20,000 shares of Series A-4 Redeemable Convertible Preferred Stock, par value $0.0001 per share (the “ Series A-4 Preferred Stock ” and the purchase and sale of such shares of Series A-4 Preferred Stock , the “ Series A-4 Preferred Stock Transaction ”).

View on SEC.gov

317 material agreements filed in the last 30 days. Browse all material agreements →

BATTALION OIL CORP filing history →

Source: SEC EDGAR

accession 0001558370-24-008025

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.