---
schema_version: "secwatch.filing_event.v1"
accession: "0001726173-22-000029"
form_type: "8-K"
ticker: "BH-A"
cik: "0001726173"
company_name: "Biglari Holdings Inc."
filed_at: "2022-09-26T23:59:59+00:00"
generated_at: "2026-06-23T07:29:57.315969+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Biglari Holdings acquires $80M preferred shares of Abraxas, gains ~85% voting control

## Summary
- Purchased 685,505 Series A Preferred Shares of Abraxas Petroleum for $80 million.
- Ownership results in ~85% beneficial voting control of Abraxas.
- Funded from working capital and cash on hand.
- Transaction closed on September 14, 2022.

## SEC filing metadata
- accession: 0001726173-22-000029
- form_type: 8-K
- ticker: BH-A
- cik: 0001726173
- company_name: Biglari Holdings Inc.
- filed_at: 2022-09-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1726173/000172617322000029/0001726173-22-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1726173/000172617322000029/bh-20220914.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001726173-22-000029
- JSON: https://secwatch.observer/filing/0001726173-22-000029.json
- Plain text: https://secwatch.observer/filing/0001726173-22-000029.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.