LUMINUS MANAGEMENT LLC bought BATL

March 30, 2026 · Form 4 insider transaction

LUMINUS MANAGEMENT LLC bought 1,800,000 shares of Battalion Oil Corporation at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 2 days after the transaction.

Direction
Acquired (buy-side)
Shares
1,800,000
Price
$0.00
Total value
N/A
Role
SecurityCommon Stock
Transaction codeC: Conversion of a derivative
Transaction dateMarch 30, 2026
Filing dateApril 1, 2026
Shares owned after3,215,885
OwnershipIndirect
10b5-1 planNo
AmendedNo

Footnotes

On March 30, 2026, pursuant to the Series A-2 Certificate of Designations for the Series A-2 Redeemable Convertible Preferred Stock of the Issuer, par value $0.0001 per share ("Series A-2 Preferred Shares"), Master Fund converted 7,803 shares of its Series A-2 Preferred Shares in exchange for 1,800,000 shares of common stock of the Issuer at the conversion price of $6.21 per share.; As previously disclosed, the Manager planned to distribute 5,200,000 shares of common stock. As Certificate Holders entitled to receive 1,145,542 shares of common stock (the "Segregated Shares") in the aggregate did not either (i) respond or provide the requisite information to the Fund's administrator and the Manager to receive the Segregated Shares, (ii) were unable to accept delivery of the Segregated Shares or (iii) chose not to participate in the distribution (such Certificate Holders being referred to as the "Non Returners"), the Master Fund continues to hold the Segregated Shares and retains both voting and disposition power over the Segregated Shares.; The Master Fund, however, has no economic interest in the Segregated Shares as the Master Fund is holding the Segregated Shares for the benefit of the Non Returners. The Master Fund can, in its discretion, sell the Segregated Shares on behalf of the Non Returners and/or make one or more distribution in kind of the Segregated Shares to the Non Returners who provide their requisite information.; Shares reported herein are held by the Master Fund for which Luminus Management, LLC serves as the investment manager. Jonathan Barrett is the ultimate beneficial owner of Luminus Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.

View the original Form 4 on SEC EDGAR