WhiteHawk Minerals (WHK) redeems Series D preferred held by Cooperman entities
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WhiteHawk Minerals Corp. reported that entities associated with Leon G. Cooperman had their Series D Preferred Stock redeemed in connection with the company’s initial public offering. A total of 6,000 and 14,000 shares of Series D Preferred Stock were redeemed at the stated value of $1,000 per share plus accrued dividends to deliver a contractually defined Minimum Return.
The 6,000 shares were held by Omega Capital Partners, L.P., and the 14,000 shares were held by The Leon and Toby Cooperman Foundation, a charitable trust. Cooperman has investment discretion over these entities but disclaims beneficial ownership beyond his pecuniary interest. The filing also shows 3,261,216 shares of Class A Common Stock held indirectly as of the reported date, without an open-market buy or sell.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
COOPERMAN LEON G
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series D Preferred Stock | 14,000 | $0.00 | -- |
| Other | Series D Preferred Stock | 6,000 | $0.00 | -- |
| holding | Class A Common Stock, par value $0.0001 per share | -- | -- | -- |
Holdings After Transaction:
Series D Preferred Stock — 0 shares (Indirect, See Footnote);
Class A Common Stock, par value $0.0001 per share — 3,261,216 shares (Indirect, See Footnote)
Footnotes (1)
- These shares of Series D Preferred Stock were redeemed by the Issuer in connection with the consummation of its initial public offering, for an amount consisting of (i) the stated value of $1,000 per share and (ii) $787,068.49 of accrued dividends and additional amounts necessary such that the holder received the Minimum Return (as defined in the Certificate of Designations of the Series D Preferred Stock). The securities are held in the account of Omega Capital Partners, L.P., a private investment entity over which the Reporting Person has investment discretion. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose. These shares of Series D Preferred Stock were redeemed by the Issuer in connection with the consummation of its initial public offering, for an amount consisting of (i) the stated value of $1,000 per share and (ii) $337,315.07 of accrued dividends and additional amounts necessary such that the holder received the Minimum Return (as defined in the Certificate of Designations of the Series D Preferred Stock). The securities were held in the account of The Leon and Toby Cooperman Foundation, a charitable trust dated December 16, 1981 (the "Foundation"). The Reporting Person has investment discretion over the securities held by the Foundation as one of the trustees of the Foundation. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.
Key Figures
Indirect Class A Common holdings: 3,261,216 shares
Redeemed Series D Preferred: 6,000 shares
Redeemed Series D Preferred: 14,000 shares
+3 more
6 metrics
Indirect Class A Common holdings
3,261,216 shares
Class A Common Stock held indirectly after reported date
Redeemed Series D Preferred
6,000 shares
Series D Preferred Stock redemption tied to IPO (Omega Capital Partners)
Redeemed Series D Preferred
14,000 shares
Series D Preferred Stock redemption tied to IPO (Cooperman Foundation)
Stated value per preferred share
$1,000 per share
Series D Preferred Stock stated value used in redemption
Accrued dividends on 6,000 shares
$787,068.49
Accrued dividends and additional amounts to reach Minimum Return
Accrued dividends on 14,000 shares
$337,315.07
Accrued dividends and additional amounts to reach Minimum Return
Key Terms
Series D Preferred Stock, Minimum Return, Certificate of Designations, accrued dividends, +2 more
6 terms
Series D Preferred Stock financial
"These shares of Series D Preferred Stock were redeemed by the Issuer"
Series D preferred stock is a specific class of preferred shares typically issued in a later-stage financing round that gives holders special rights such as priority for payout before common shareholders, fixed or cumulative dividends, and often the option to convert into common shares. Investors care because these shares affect who gets paid first in a sale or liquidation, influence ownership and voting power, and change how future fundraising or an exit will impact an investor’s return—like a VIP ticket that can sometimes be exchanged for a regular ticket if that proves more valuable.
Minimum Return financial
"additional amounts necessary such that the holder received the Minimum Return"
Certificate of Designations financial
"Minimum Return (as defined in the Certificate of Designations of the Series D Preferred Stock)"
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
accrued dividends financial
"$787,068.49 of accrued dividends and additional amounts necessary"
Accrued dividends are payments a company owes to shareholders that have been earned or officially declared but not yet paid; think of them as an IOU the company has for past dividend obligations. They matter to investors because they represent a near-term claim on a company’s cash, affect the company’s reported liabilities and value, and can be especially important when assessing income reliability or priority in a payout situation.
stated value financial
"for an amount consisting of (i) the stated value of $1,000 per share"
Stated value is an accounting figure a company assigns to a share when the share has no par (legal) value; it becomes the portion of proceeds recorded as the company’s permanent capital for regulatory and bookkeeping purposes. It matters to investors because it affects the equity reported on the balance sheet and the legal limits on distributions or dividend payments, but it is not the market price — think of it as a record-keeping sticker price rather than what buyers actually pay.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest therein"
FAQ
What does Leon G. Cooperman’s Form 4 for WhiteHawk Minerals (WHK) report?
The Form 4 reports redemptions of WhiteHawk Minerals Series D Preferred Stock held by entities associated with Leon G. Cooperman in connection with the company’s IPO, plus accrued dividends to reach a defined Minimum Return under the preferred stock terms.
What consideration did holders receive for the redeemed WHK Series D Preferred Stock?
Holders of WhiteHawk Minerals Series D Preferred Stock received the stated value of $1,000 per share plus accrued dividends of $787,068.49 and $337,315.07, along with additional amounts required so each holder achieved the contractually defined Minimum Return under the preferred terms.
Does Leon G. Cooperman claim full beneficial ownership of the WHK securities reported?
No. The filing states that Leon G. Cooperman disclaims beneficial ownership of WhiteHawk Minerals securities held by Omega Capital Partners, L.P. and The Leon and Toby Cooperman Foundation, except to the extent of his pecuniary interest, a common disclosure for managed or charitable entities.