Angelo Gordon & Co., L.P. - Sep 14, 2022 Form 4 Insider Report for ABRAXAS PETROLEUM CORP (AXAS)

Role: Director by Deputization
Signature: /s/ Christopher D. Moore, as Attorney-in-Fact for Josh Baumgarten and Adam Schwartz, Managing Members of AG GP LLC, Managing Members of Angelo, Gordon & Co., L.P.
Stock symbol: AXAS
Transactions as of: Sep 14, 2022
Transactions value $: -$79,998,434
Form type: 4
Date filed: 9/16/2022, 05:30 PM
Previous filing: Sep 2, 2022
Next filing: Oct 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AXAS	Series A Preferred Stock	Sale	-$80M	-686K	-100%	$116.70	0	Sep 14, 2022	See Footnote	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Angelo Gordon & Co., L.P. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The shares of Series A Preferred Stock were held directly by AG Energy Funding, LLC ("AG Energy Funding") for which Angelo, Gordon & Co, L.P. ("Angelo Gordon") is the manager. Josh Baumgarten and Adam Schwartz are the co-managing members of AG GP LLC ("AG GP"), which is the sole general partner of Angelo Gordon and Josh Baumgarten and Adam Schwartz are the co-chief executive officers of Angelo Gordon. Each of Josh Baumgarten, Adam Schwartz and AG GP may be deemed to control Angelo Gordon. Each of Angelo Gordon, AG GP, Josh Baumgarten and Adam Schwartz disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein and this report shall not be deemed to be an admission that any of Angelo Gordon, AG GP, Josh Baumgarten or Adam Schwartz is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Content

The shares of Series A Preferred Stock were held directly by AG Energy Funding, LLC ("AG Energy Funding") for which Angelo, Gordon & Co, L.P. ("Angelo Gordon") is the manager. Josh Baumgarten and Adam Schwartz are the co-managing members of AG GP LLC ("AG GP"), which is the sole general partner of Angelo Gordon and Josh Baumgarten and Adam Schwartz are the co-chief executive officers of Angelo Gordon. Each of Josh Baumgarten, Adam Schwartz and AG GP may be deemed to control Angelo Gordon. Each of Angelo Gordon, AG GP, Josh Baumgarten and Adam Schwartz disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein and this report shall not be deemed to be an admission that any of Angelo Gordon, AG GP, Josh Baumgarten or Adam Schwartz is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Remarks:

Each of Todd Dittmann, a managing director of Angelo, Gordon & Co, L.P. ("Angelo Gordon") and a member of Angelo Gordon's executive committee, Damon Putman, a managing director of Angelo Gordon's energy investment group, Daniel Baddeloo, a vice president in Angelo Gordon's energy group, and David Roberts, a senior advisor of Angelo Gordon and a member of Angelo Gordon's executive committee and partnership advisory board, is a member of the Board of Directors of Abraxas Petroleum Corporation (the "Issuer"). For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, AG Energy Funding, LLC, Angelo Gordon, AG GP LLC, Josh Baumgarten and Adam Schwartz may be deemed to be directors by deputization of the Issuer due to their relationship with Mr. Dittmann, Mr. Putman, Mr. Baddeloo and Mr. Roberts.