secwatch.observer — SEC 8-K summary
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Issuer:     Biglari Holdings Inc. (BH-A)
CIK:        0001726173
Form:       8-K
Filed at:   2022-09-26T23:59:59+00:00
Accession:  0001726173-22-000029
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1726173/000172617322000029/0001726173-22-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1726173/000172617322000029/bh-20220914.htm
  HTML page:      https://secwatch.observer/filing/0001726173-22-000029

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