Capstone Energy Plus: Monarch reports 39.8% stake

The reported ownership percentage counts shares issuable on conversion, and any refinancing would depend on further negotiation, definitive documentation and approvals.

Rhea-AI Filing Summary

Capstone Energy Plus, Inc. (CEPL) is the issuer for which Monarch Alternative Capital, MDRA GP and Monarch GP LLC report shared beneficial ownership of 19,333,334 shares, or 39.8%. The reported amount includes 3,333,334 common shares and 16,000,000 shares issuable upon conversion of Series A Preferred Stock at the initial Conversion Price. The percentage calculation uses 32,611,589 common shares outstanding as of August 7, 2026, plus the conversion shares.

The Monarch Funds designated Brandon Schwertner for appointment as a Series A Director on October 23, 2026, and the Board approved his appointment on October 26, 2026. The reporting persons intend to discuss options for the issuer’s secured notes due December 7, 2026, potentially including refinancing terms, structure, timing and their or their affiliates’ participation. As of the amendment, they had made no offer or reached an agreement; any transaction would be subject to negotiation and definitive documentation, Board approval, the reporting persons’ investment committee processes and required consents.

Key Figures

Beneficially owned shares: 19,333,334 shares Ownership percentage: 39.8% Common shares: 3,333,334 shares +3 more

6 metrics

Beneficially owned shares 19,333,334 shares Shared beneficial ownership reported by the reporting persons

Ownership percentage 39.8% Calculated using outstanding shares plus shares issuable upon conversion

Common shares 3,333,334 shares Component of reported beneficial ownership

Shares issuable upon conversion 16,000,000 shares Series A Preferred Stock at the initial Conversion Price

Common shares outstanding 32,611,589 shares As of August 7, 2026

Secured notes maturity December 7, 2026 Maturity date of the issuer’s secured notes

Key Terms

Series A Preferred Stock, Conversion Price, secured notes, Certificate of Designation

4 terms

Series A Preferred Stock financial

"issuable upon conversion of the Series A Preferred Stock"

Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.

Conversion Price financial

"at the initial Conversion Price"

The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.

secured notes financial

"outstanding secured notes due December 7, 2026"

Secured notes are loans issued as tradable bonds that are tied to specific assets—like a mortgage is tied to a house—so if the borrower can’t pay, holders have a legal claim on that collateral. For investors this usually means lower risk and higher chance of recovering money in a default, but returns tend to be smaller than for unsecured debt and the real safety depends on the value and legal strength of the pledged assets.

Certificate of Designation regulatory

"as a Series A Director pursuant to the Certificate of Designation"

A certificate of designation is a formal document that spells out the specific rights and rules attached to a particular class or series of stock, usually preferred shares. Think of it as a rulebook or menu that lists dividend terms, liquidation priority, conversion or redemption rights and any special voting protections; investors use it to judge how much income, control or downside protection those shares will provide compared with other securities.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CEPL shares do the reporting persons beneficially own?

Monarch Alternative Capital, MDRA GP and Monarch GP LLC report shared beneficial ownership of 19,333,334 shares, or 39.8%. The amount includes 3,333,334 common shares and 16,000,000 shares issuable upon conversion of Series A Preferred Stock at the initial Conversion Price. The percentage calculation uses 32,611,589 common shares outstanding as of August 7, 2026, plus the conversion shares.

Who was designated for CEPL’s Series A Director seat?

The Monarch Funds designated Brandon Schwertner for appointment as a Series A Director on October 23, 2026. The Board approved his appointment on October 26, 2026, pursuant to the Certificate of Designation.

What are the reporting persons’ plans for CEPL’s notes due December 7, 2026?

The reporting persons intend to discuss options relating to the notes’ upcoming maturity, potentially including refinancing terms, structure and timing, and participation by the reporting persons or their affiliates. As of the amendment, they had made no offer or reached an agreement. Any definitive agreement would be subject to negotiation and execution of documentation, Board approval, investment committee processes and required consents.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/26/2026 - 09:15 AM EDT Accepted by SEC EDGAR 10/26/2026 - 09:15 AM EDT 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)

Capstone Energy+, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

14067D607

(CUSIP Number)

Colin J. Daniels, Esq.
Monarch Alternative Capital LP, 535 Madison Avenue
New York, NY, 10022
(212) 554-1700

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

10/23/2026

(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): 14067D607

1

Name of reporting person

Monarch Alternative Capital 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 19,333,334.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,333,334.00

11

Aggregate amount beneficially owned by each reporting person

19,333,334.00

12

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

13

Percent of class represented by amount in Row (11)

39.8 %

14

Type of Reporting Person (See Instructions)

IA, PN

Comment for Type of Reporting Person:

IA, PN

SCHEDULE 13D

CUSIP Number(s): 14067D607

1

Name of reporting person

MDRA GP 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 19,333,334.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,333,334.00

11

Aggregate amount beneficially owned by each reporting person

19,333,334.00

12

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

13

Percent of class represented by amount in Row (11)

39.8 %

14

Type of Reporting Person (See Instructions)

HC, PN

Comment for Type of Reporting Person:

PN, HC

SCHEDULE 13D

CUSIP Number(s): 14067D607

1

Name of reporting person

Monarch GP 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 19,333,334.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 19,333,334.00

11

Aggregate amount beneficially owned by each reporting person

19,333,334.00

12

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

13

Percent of class represented by amount in Row (11)

39.8 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

OO, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: Capstone Energy+, Inc.
(c)	Address of Issuer's Principal Executive Offices: 16640 STAGG STREET, VAN NUYS, CALIFORNIA , 91406.
Item 1 Comment: The following constitutes Amendment No. 2 to the Schedule 13D (the "Original 13D") initially filed by the undersigned on April 3, 2026, as amended by Amendment No. 1 thereto filed on June 29, 2026, as specifically set forth herein (this "Amendment"). Except as otherwise set forth herein, the Original 13D is unchanged.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended to add the following: As previously disclosed, the Monarch Funds have certain rights to appoint two individuals as directors of the Issuer. On October 23, 2026, the Monarch Funds designated Brandon Schwertner for appointment to the Board as a Series A Director pursuant to the Certificate of Designation. Mr. Schwertner's appointment was approved by the Board on October 26, 2026. In addition, the Issuer has outstanding secured notes due December 7, 2026 (the "Notes"), which Notes were issued under the Note Purchase Agreement, dated December 7, 2023, by and among the Issuer's operating subsidiary and the purchasers party thereto. The Reporting Persons intend to discuss with the Issuer various options with respect to the forthcoming maturity of the Notes, which discussions may include proposals that may address, among other things, the terms, structure and timing of potential refinancing of the Notes and the potential participation of the Reporting Persons or their affiliates in any refinancing. Any such proposals, and any resulting transaction, may relate to or result in one or more of the matters described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. As of the date of this Amendment, the Reporting Persons have not reached any agreements or made any offers to the Issuer in respect of the Notes. There can be no assurance that any offer will be made, nor that the Issuer or the Reporting Persons will agree to any refinancing or related transaction. The nature of any terms or conditions that may be proposed or agreed with respect to any refinancing or related transaction are uncertain and subject to further discussion and negotiation, and there is no assurance that any refinancing or related transaction will be agreed to or ultimately consummated. The Reporting Persons reserve the right to take or not take any actions, including modifying or withdrawing any potential proposal, and discontinuing any discussions with the Issuer at any time. Any definitive agreement would be subject to, among other things, negotiation and execution of definitive documentation, approval by the Board and the Reporting Persons' investment committee processes, and the receipt of any required consents.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained on the cover pages of this Schedule 13D is incorporated into this Item 5 by reference. The number of shares of Common Stock beneficially owned by the Reporting Persons remains unchanged from the initial Schedule 13D filed by the Reporting Persons and consists of 3,333,334 shares of Common Stock and 16,000,000 shares of Common Stock issuable upon conversion of the Series A Preferred Stock at the initial Conversion Price. The percentages used in this Amendment are calculated based upon 32,611,589 shares of Common Stock outstanding as of August 7, 2026, as reported in the Q1 10-Q, plus 16,000,000 shares of Common Stock issuable upon conversion of the Series A Preferred Stock beneficially owned by the Reporting Persons at the initial Conversion Price.
(b)	The information contained on the cover pages of this Schedule 13D is incorporated into this Item 5 by reference. The number of shares of Common Stock beneficially owned by the Reporting Persons remains unchanged from the initial Schedule 13D filed by the Reporting Persons and consists of 3,333,334 shares of Common Stock and 16,000,000 shares of Common Stock issuable upon conversion of the Series A Preferred Stock at the initial Conversion Price. The percentages used in this Amendment are calculated based upon 32,611,589 shares of Common Stock outstanding as of August 7, 2026, as reported in the Q1 10-Q, plus 16,000,000 shares of Common Stock issuable upon conversion of the Series A Preferred Stock beneficially owned by the Reporting Persons at the initial Conversion Price.

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.

Monarch Alternative Capital LP

Signature:	/s/ Colin J. Daniels
Name/Title:	Colin J. Daniels/Managing Director, General Counsel
Date:	10/26/2026

MDRA GP LP

Signature:	Monarch GP LLC
Name/Title:	General partner
Date:	10/26/2026

Signature:	/s/ Colin J. Daniels
Name/Title:	Colin J. Daniels/Authorized Person
Date:	10/26/2026

Monarch GP LLC

Signature:	/s/ Colin J. Daniels
Name/Title:	Colin J. Daniels/Authorized Person
Date:	10/26/2026