SEC Form 4 · accession 0001104659-26-092798
BATTALION OIL CORP · BATL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Paul Segal
10% Owner
Gen IV Investment Opportunities, LLC
10% Owner
LSP Investment Advisors, LLC
10% Owner
LSP Generation IV, LLC
10% Owner
Period of report
Aug 7, 2026
Accepted (ET)
Aug 7, 2026 · 5:45 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001282648
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Aug 7, 2026 | C | 253,815 | $0.00 | A | 253,815 | D | |
| Common StockF1 | Aug 7, 2026 | C | 1,607,845 | $0.00 | A | 1,861,660 | D | |
| Common StockF1 | Aug 7, 2026 | C | 799,216 | $0.00 | A | 2,660,876 | D | |
| Common StockF1 | Aug 7, 2026 | C | 833,383 | $0.00 | A | 3,494,259 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Redeemable Convertible Preferred StockF1,F2,F3,F4,F5 | — | Aug 7, 2026 | S | 5,138 | D | Mar 28, 2023 | — | Common Stock | — | 0 | D |
| Series A-1 Redeemable Convertible Preferred StockF1,F2,F3,F4 | — | Aug 7, 2026 | S | 6,578 | D | Sep 6, 2023 | — | Common Stock | 1,609,147 | 1,232 | D |
| Series A-1 Redeemable Convertible Preferred StockF1,F2,F3,F5,F4 | — | Aug 7, 2026 | C | 1,232 | D | Sep 6, 2023 | — | Common Stock | 253,815 | 0 | D |
| Series A-2 Redeemable Convertible Preferred StockF1,F2,F3,F6,F4 | — | Aug 7, 2026 | C | 6,630 | D | Apr 24, 2024 | — | Common Stock | 1,607,845 | 0 | D |
| Series A-3 Redeemable Convertible Preferred StockF1,F2,F3,F7,F4 | — | Aug 7, 2026 | C | 3,789 | D | Jul 25, 2024 | — | Common Stock | 799,216 | 0 | D |
| Series A-4 Redeemable Convertible Preferred StockF1,F2,F3,F8,F4 | — | Aug 7, 2026 | C | 3,789 | D | Sep 10, 2024 | — | Common Stock | 833,383 | 0 | D |
Explanation of responses
- F1This Form 4 is jointly filed by Gen IV Investment Opportunities, LLC ("Gen IV"), a Delaware limited liability company, LSP Generation IV, LLC ("LSP Gen IV"), a Delaware limited liability company, LSP Investment Advisors, LLC ("LSP Advisors"), a Delaware limited liability company, and Paul Segal, President of Gen IV. LSP Gen IV, as the managing member of Gen IV, has the power to direct the affairs of Gen IV, including voting and disposing of the shares. LSP Advisors, as the investment manager of Gen IV, also has the power to direct the voting and disposition of the shares held by Gen IV. Mr. Segal as President of Gen IV, also has the power to direct the voting and disposition of the shares Held by Gen IV. For Section 16 purposes, LSP Gen IV, LSP Advisors, and Mr. Segal, disclaim beneficial ownership over the shares reported herein, except to the extent of their pecuniary interest therein.
- F2On August 7, 2026, Gen IV and the Company entered into the Preferred Stock Repurchase and Conversion Agreement to effect (i) the Company's repurchase of 5,138 shares of Series A Redeemable Convertible Preferred Stock and 6,578.11 shares of Series A-1 Redeemable Convertible Preferred Stock, par value $0.0001 per share ("Series A-1 Preferred Shares") from Gen IV for an aggregate purchase price of $19,000,000; and (ii) the conversion of 1,231.89 shares of Series A-1 Preferred Shares, 6,630 shares of Series A-2 Redeemable Convertible Preferred Stock, par value $0.0001 per share ("Series A-2 Preferred Shares"), 3,789 shares of Series A-3 Redeemable Convertible Preferred Stock, par value $0.0001 per share ("Series A-3 Preferred Shares"), and 3,789 shares of Series A-4 Redeemable Convertible Preferred Stock, par value $0.0001 per share ("Series A-4 Preferred Shares") into an aggregate of 3,494,259 shares of common stock, par value $0.0001 per share ("Common Stock") of the Company.
- F3No additional consideration was paid in connection with such conversion.
- F4None of the Series A Preferred Shares, Series A-1 Preferred Shares, Series A-2 Preferred Shares, Series A-3 Preferred Shares or Series A-4 Preferred Shares has an expiration date.
- F5The shares of Series A-1 Preferred Shares were convertible at any time into shares of Common Stock, subject to the terms and conditions of the Certificate of Designations for the Series A-1 Preferred Shares (the "Series A-1 Certificate of Designation"). The Conversion Ratio for each Series A-1 Preferred Share was calculated as the quotient of (i) the then-applicable liquidation preference (as determined in accordance with the Series A-1 Certificate of Designations) and (ii) the conversion price of $7.63.
- F6The shares of Series A-2 Preferred Shares were convertible at any time after April 13, 2024 into shares of Common Stock, subject to the terms and conditions of the Certificate of Designations for the Series A-2 Preferred Shares (the "Series A-2 Certificate of Designations"). The Conversion Ratio for each Series A-2 Preferred Share was calculated as the quotient of (i) the then-applicable liquidation preference (as determined in accordance with the Series A-2 Certificate of Designations) and (ii) the conversion price of $6.21.
- F7The shares of Series A-3 Preferred Shares were convertible at any time after July 24, 2025 into shares of Common Stock, subject to the terms and conditions of the Certificate of Designations for the Series A-3 Preferred Shares (the "Series A-3 Certificate of Designations"). The Conversion Ratio for each Series A-3 Preferred Share was calculated as the quotient of (i) the then-applicable liquidation preference (as determined in accordance with the Series A-3 Certificate of Designations) and (ii) the conversion price of $6.83.
- F8The shares of Series A-4 Preferred Shares were convertible at any time after September 10, 2024 into shares of Common Stock, subject to the terms and conditions of the Certificate of Designations for the Series A-4 Preferred Shares (the "Series A-4 Certificate of Designations"). The Conversion Ratio for each Series A-4 Preferred Share was calculated as the quotient of (i) the then-applicable liquidation preference (as determined in accordance with the Series A-4 Certificate of Designations) and (ii) the conversion price of $6.42.