Battalion Oil Corp (BATL) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Battalion Oil Corp on March 30, 2026. The report details an unregistered sale of equity securities involving the conversion of preferred stock into common stock.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a specific capital transaction.
Material Changes
On March 30, 2026, the Company issued 1,800,000 shares of common stock to Luminus Energy Partners Master Fund, Ltd. ("Luminus"). This issuance resulted from the conversion of 7,803 shares of Series A-2 Redeemable Convertible Preferred Stock. The conversion utilized a price of $6.21 per share and included adjustments for Unpaid Dividend Accruals. Luminus is an affiliate of the Company's largest shareholders, whose representatives comprise 50% of the Board of Directors.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of general business risks. The transaction was executed in reliance on an exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933. The issuance was approved by the Board of Directors upon recommendation by a special committee of disinterested directors.
Key Facts for Investor Verification
- 1,800,000 new shares of common stock were issued to Luminus Energy Partners Master Fund, Ltd.
- The transaction involved the conversion of 7,803 shares of Series A-2 Preferred Stock at $6.21 per share.
- The recipient is affiliated with the Company's largest shareholders, who control half of the Board of Directors.
- The issuance was exempt from registration under Section 4(a)(2) of the Securities Act.
- No financial performance data or forward-looking guidance is included in this specific filing.