BATL Announces $19M Preferred Stock Repurchase and Conversion with Gen IV

Battalion Oil Corp. entered into a Preferred Stock Repurchase and Conversion Agreement with investor Gen IV Investment Opportunities, LLC on August 7, 2026. The agreement involves the company repurchasing a portion of its preferred stock for $19 million and Gen IV converting all its remaining preferred shares into common stock. This transaction eliminates all preferred stock held by Gen IV.

Key Details

• Stock Repurchase: Battalion will repurchase 5,138 shares of Series A Preferred Stock and 6,578.11 shares of Series A-1 Preferred Stock for an aggregate purchase price of $19,000,000. The repurchased shares will be cancelled.
• Stock Conversion: Gen IV will convert all its remaining preferred stock holdings (across Series A-1, A-2, A-3, and A-4) into an aggregate of 3,494,258 shares of the Company’s common stock.
• Voting & Lock-Up: Gen IV has entered a 12-month Voting and Lock-Up Agreement, committing to vote its shares in favor of the board's director nominees in uncontested elections and to a customary lock-up of its common stock, subject to certain exceptions.