Encompass Capital (IBATF) files Form 3 showing large share and warrant stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Encompass Capital Advisors LLC and related parties filed an initial Form 3 for International Battery Metals Ltd., reporting beneficial ownership of 57,897,081 common shares held directly. The filing also lists several warrant positions for additional common shares.
The warrants cover blocks of 6,396,999, 10,717,977, 3,000,000 and 25,765,259 common shares, with U.S. dollar exercise prices of $0.86, $0.69 and $0.25, converted from Canadian dollar prices using a Bank of Canada exchange rate as of January 14, 2026. These warrants are subject to a 19.99% beneficial ownership limitation.
The securities are held by Encompass Capital Master Fund LP and certain funds and managed accounts advised by Encompass Capital Advisors LLC. Encompass Capital Partners LLC and Todd Kantor may be deemed beneficial owners through their roles, but all reporting persons disclaim beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Encompass Capital Advisors LLC, Encompass Capital Partners LLC, Kantor Todd J., Encompass Capital Master Fund LP
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Warrants — 6,396,999 shares (Direct);
Common Shares — 57,897,081 shares (Direct)
Footnotes (1)
- This Form 3 is filed jointly by Encompass Capital Advisors LLC ("ECA"), Todd Kantor ("Mr. Kantor"), Encompass Capital Partners LLC ("ECP") and Encompass Capital Master Fund LP ("ECM" and, together with ECA, ECP and Mr. Kantor, collectively, the "Reporting Persons"). Each of the Reporting Persons is the member of a Section 13(d) group. Each of the Reporting Persons disclaims beneficial ownership of the securities of the Issuer owned directly by other members of the Section 13(d) group and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purpose. Further, each of the Reporting Persons disclaims beneficial ownership of the Common Shares reported herein except to the extent of its pecuniary interest therein. Represents Common Shares and Common Shares subject to exercisable warrants held by ECM and by certain funds and managed accounts managed or sub-advised by ECA. By virtue of its position as a general partner of certain investment partnerships managed by ECA, ECP may be deemed to have beneficial ownership of the securities identified above. By virtue of Mr. Kantor's position of Managing Member of ECA and ECP, Mr. Kantor may be deemed to have beneficial ownership of the securities identified above. Consists of warrants exercisable for shares of Common Stock, subject to a 19.99% beneficial ownership limitation. Represents an exercise price of $1.21 Canadian dollars, converted to U.S. dollars using the Bank of Canada daily exchange rate of $1.00 to CAD$1.3877 as of January 14, 2026. Represents an exercise price of $0.9579 Canadian dollars, converted to U.S. dollars using the Bank of Canada daily exchange rate of $1.00 to CAD$1.3877 as of January 14, 2026. Represents an exercise price of $0.355 Canadian dollars, converted to U.S. dollars using the Bank of Canada daily exchange rate of $1.00 to CAD$1.3877 as of January 14, 2026.
FAQ
What does the Encompass Capital Form 3 reveal about IBATF ownership?
The Form 3 shows Encompass Capital-related entities beneficially owning 57,897,081 common shares of International Battery Metals. It also discloses large warrant holdings for additional shares, establishing them as significant 10% owners under U.S. securities rules.
Who are the reporting persons on the IBATF Encompass Capital Form 3?
The reporting persons are Encompass Capital Advisors LLC, Encompass Capital Partners LLC, Encompass Capital Master Fund LP and Todd Kantor. They file jointly as a Section 13(d) group and each may be deemed to have beneficial ownership through management roles.
What IBATF warrant positions are disclosed in the Encompass Capital Form 3?
The filing lists warrants for 6,396,999, 10,717,977, 3,000,000 and 25,765,259 IBATF common shares. These warrants have exercise prices of $0.86, $0.69 and $0.25, converted from Canadian dollars using a Bank of Canada exchange rate.
What is the 19.99% beneficial ownership limitation mentioned for IBATF warrants?
The Form 3 states the warrants are exercisable for IBATF common shares but are subject to a 19.99% beneficial ownership limitation. This cap restricts exercise to prevent the reporting persons’ beneficial ownership from exceeding 19.99% at any given time.