Corporate ActionAug 7, 2026, 05:24 PM
Battalion Oil Repurchases, Converts Preferred Stock
AI Summary
Battalion Oil Corporation entered into a Preferred Stock Repurchase and Conversion Agreement with Gen IV Investment Opportunities, LLC. The company repurchased 5,138 shares of Series A and 6,578.11 shares of Series A-1 Preferred Stock for an aggregate of $19,000,000. Additionally, Gen IV converted 1,231.89 shares of Series A-1, 6,630 shares of Series A-2, 3,789 shares of Series A-3, and 3,789 shares of Series A-4 Preferred Stock into 3,494,258 shares of common stock. Following these transactions, Gen IV no longer holds any preferred stock in the company. A Voting and Lock-Up Agreement was also executed, restricting Gen IV's common stock sales for 12 months and outlining voting commitments.
Key Highlights
- Repurchased 5,138 Series A and 6,578.11 Series A-1 Preferred Stock from Gen IV.
- Aggregate repurchase price of $19,000,000 paid to Gen IV.
- Gen IV converted 1,231.89 Series A-1, 6,630 Series A-2, 3,789 Series A-3, and 3,789 Series A-4 Preferred Stock.
- Issued 3,494,258 shares of common stock to Gen IV from the conversion.
- Gen IV no longer holds any preferred stock in Battalion Oil Corporation.
- Gen IV agreed to a 12-month lock-up on its common stock.
- Gen IV committed to vote its common stock as recommended by the board for director elections and auditor ratification.
Price Impact
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