Big Sky Industrial investor group now at 4.9%

BIG SKY INDUSTRIAL INC.

Rhea-AI Filing Summary

BIG SKY INDUSTRIAL INC. (BSIN) received an amended Schedule 13D/A from a group led by Sage Road Capital, LLC and individuals Joshua L. Batchelor and Benjamin A. Stamets. The reporting persons now beneficially own 2,580,751 shares of common stock, representing 4.9% of the outstanding shares, based on 52,493,428 shares outstanding as of August 4, 2026. All reported shares are held with shared voting and dispositive power through entities including Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Sage Road Energy II, LP, and SRC Management Company, LP. The group states that each reporting person now owns less than 5% of the common stock and that this filing is a final amendment, with no further amendments intended.

Filing Explained

Because the reporting persons each now report less than 5%, this final amendment places the Sage Road group below the ownership level that Schedule 13D/13G disclosures cover; the filing reports 2,580,751 shares, or 4.9%, with shared voting and dispositive power and says no further amendments are intended.

Key Figures

Beneficial ownership: 2,580,751 shares Ownership percentage: 4.9% Shares outstanding: 52,493,428 shares +4 more

7 metrics

Beneficial ownership 2,580,751 shares Total BSIN common shares beneficially owned by the reporting persons

Ownership percentage 4.9% Percent of BSIN common stock represented by 2,580,751 shares

Shares outstanding 52,493,428 shares BSIN common shares outstanding as of August 4, 2026, per issuer

Banner Oil & Gas holdings 2,122,958 shares BSIN common stock beneficially owned by Banner Oil & Gas, LLC (4.0%)

Sage Road Energy II holdings 235,969 shares BSIN common stock beneficially owned by Sage Road Energy II, LP (0.5%)

Woodford Petroleum holdings 159,860 shares BSIN common stock beneficially owned by Woodford Petroleum, LLC (0.3%)

SRC Management holdings 61,964 shares BSIN common stock beneficially owned by SRC Management Company, LP (0.1%)

Key Terms

beneficially own, shared voting power, shared dispositive power, Schedule 13D, +1 more

5 terms

beneficially own financial

"The Reporting Persons each beneficially own less than 5% of the Common Stock."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"Shared Voting Power 2,580,751.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 2,580,751.00"

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13D to report"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

final amendment regulatory

"This amendment constitutes the final amendment, and the Reporting Persons do not intend"

FAQ

What ownership stake in BIG SKY INDUSTRIAL INC. (BSIN) is reported in this Schedule 13D/A?

The reporting group discloses beneficial ownership of 2,580,751 shares of BSIN common stock, representing 4.9% of the class. This percentage is calculated using 52,493,428 shares outstanding as of August 4, 2026, as provided by the company.

Who are the main reporting persons in this BSIN Schedule 13D/A amendment?

The main reporting persons are Joshua L. Batchelor, Benjamin Andrew Stamets, and Sage Road Capital, LLC, along with affiliated entities. Batchelor and Stamets are described as co-Managing Partners of Sage Road Capital, LLC, which indirectly controls the holding entities.

How is the BSIN ownership distributed among the Sage Road-related entities?

Banner Oil & Gas, LLC holds 2,122,958 shares (4.0%), Sage Road Energy II, LP holds 235,969 shares (0.5%), Woodford Petroleum, LLC holds 159,860 shares (0.3%), and SRC Management Company, LP holds 61,964 shares (0.1%), all with shared voting and dispositive power.

Do the reporting persons in this BSIN filing still own 5% or more of the company?

No. The filing states that the reporting persons each beneficially own less than 5% of BSIN’s common stock. Their aggregate reported beneficial ownership is 4.9%, based on the company’s reported 52,493,428 outstanding shares as of August 4, 2026.

Is this Schedule 13D/A for BSIN expected to be updated again by these holders?

The group characterizes this Schedule 13D/A as a final amendment and states they do not intend to file further amendments. This reflects their current beneficial ownership position below the 5% reporting threshold for BSIN common stock.

What voting and dispositive powers do the reporting persons have over BSIN shares?

The reporting persons report 0 shares with sole voting or dispositive power and 2,580,751 shares with shared voting and shared dispositive power. Control is exercised through entities indirectly managed or controlled by Sage Road Capital, LLC and its co-Managing Partners.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/20/2026 - 03:39 PM Accepted by SEC EDGAR 08/20/2026 - 03:39 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

BIG SKY INDUSTRIAL INC.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

911805307

(CUSIP Number)

Joshua L. Batchelor
2121 Sage Road, Suite 325,
Houston, TX, 77056
(713) 364-1400

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/11/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Batchelor Joshua Lane

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,580,751.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,580,751.00

11

Aggregate amount beneficially owned by each reporting person

2,580,751.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

In his capacity as co-Managing Partner of Sage Road Capital, LLC, Mr. Batchelor may be deemed to beneficially own the shares of Common Stock held by Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Sage Road Energy II, LP, and SRC Management Company, LP, which entities Sage Road Capital, LLC indirectly controls and manages certain funds which own a majority interest of, as discussed below. Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Stamets Benjamin Andrew

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,580,751.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,580,751.00

11

Aggregate amount beneficially owned by each reporting person

2,580,751.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

In his capacity as co-Managing Partner of Sage Road Capital, LLC, Mr. Stamets may be deemed to beneficially own the shares of Common Stock held by Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Sage Road Energy II, LP, and SRC Management Company, LP, which entities Sage Road Capital, LLC indirectly controls and manages certain funds which own a majority interest of, as discussed below. Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Sage Road Capital, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,580,751.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,580,751.00

11

Aggregate amount beneficially owned by each reporting person

2,580,751.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Sage Road Capital, LLC, may be deemed to beneficially own the shares of Common Stock held by Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Sage Road Energy II, LP, and SRC Management Company, LP, which Sage Road Capital, LLC, indirectly controls and manages certain funds which own a majority interest of, as discussed below. Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

SRC Management Company, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 61,964.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 61,964.00

11

Aggregate amount beneficially owned by each reporting person

61,964.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Sage Road Capital, LLC, may be deemed to beneficially own the shares of Common Stock held by Banner Oil & Gas, LLC, Woodford Petroleum, LLC, Sage Road Energy II, LP, and SRC Management Company, LP, which Sage Road Capital, LLC, indirectly controls and manages certain funds which own a majority interest of, as discussed below. Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Banner Oil & Gas, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,122,958.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,122,958.00

11

Aggregate amount beneficially owned by each reporting person

2,122,958.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Woodford Petroleum, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 159,860.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 159,860.00

11

Aggregate amount beneficially owned by each reporting person

159,860.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

CUSIP Number(s): 911805307

1

Name of reporting person

Sage Road Energy II, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 235,969.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 235,969.00

11

Aggregate amount beneficially owned by each reporting person

235,969.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.5 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

Based on information provided by the Issuer as of August 4, 2026, reflecting 52,493,428 shares of Common Stock of the Issuer outstanding as of such date.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value per share
(b)	Name of Issuer: BIG SKY INDUSTRIAL INC.
(c)	Address of Issuer's Principal Executive Offices: 1616 S. VOSS, SUITE 725, 1616 S. VOSS, SUITE 725, HOUSTON, TEXAS , 77057.
Item 1 Comment: This Statement relates to the common stock, $0.01 par value per share (the "Common Stock"), of Big Sky Industrial Inc., a Delaware corporation (the "Issuer" or the "Company"). The principal executive offices of the Issuer are located at 1616 S. Voss, Suite 725, 77057. There are no changes to the Schedule 13D except as set forth in this Amendment No. 2.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) of the Schedule 13D is hereby amended and restated in their entirety as follows: The Reporting Persons each beneficially own less than 5% of the Common Stock. This amendment constitutes the final amendment, and the Reporting Persons do not intend to file further amendments

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Batchelor Joshua Lane

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Joshua L. Batchelor
Date:	08/20/2026

Stamets Benjamin Andrew

Signature:	/s/ Benjamin A. Stamets
Name/Title:	Benjamin A. Stamets
Date:	08/20/2026

Sage Road Capital, LLC

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Printed Name: Joshua L. Batchelor Its: Managing Partner
Date:	08/20/2026

SRC Management Company, LP

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Printed Name: Joshua L. Batchelor Its: Manager
Date:	08/20/2026

Banner Oil & Gas, LLC

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Printed Name: Joshua L. Batchelor Its: Manager
Date:	08/20/2026

Woodford Petroleum, LLC

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Printed Name: Joshua L. Batchelor Its: Manager
Date:	08/20/2026

Sage Road Energy II, LP

Signature:	/s/ Joshua L. Batchelor
Name/Title:	Printed Name: Joshua L. Batchelor Its: Manager
Date:	08/20/2026