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JB Investments Management

Filed: 11 Mar 21, 7:00pm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Callon Petroleum Company

(Name of Issuer)

 

Common Stock, $.01 par value

(Title of Class of Securities) 

 

 13123X508

(CUSIP Number)

 

March 3, 2021
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 Rule 13d-1(b)
   
 Rule 13d-1(c)
   
 Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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).

   
  Page 2 of 10

 

CUSIP No.   13123X508  

 

1

NAME OF REPORTING PERSONS
JB Investments Management, LLC

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 32-0153630

 
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b)

3SEC USE ONLY 
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 
6

SHARED VOTING POWER

2,459,022 Shares of Common Stock

 
7

SOLE DISPOSITIVE POWER

0

 
8

SHARED DISPOSITIVE POWER

2,459,022 Shares of Common Stock

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,459,022 Shares of Common Stock

 
10CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.3% (1)

 
12

TYPE OF REPORTING PERSON

IA, CO

 
     

________________

 

(1)   

Based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

 

   
  Page 3 of 10

 

CUSIP No.   13123X508  

 

1

NAME OF REPORTING PERSONS
JB Investments Fund III, L.P.

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 85-0792544

 
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b)

3SEC USE ONLY 
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 
6

SHARED VOTING POWER

2,292,107 Shares of Common Stock

 
7

SOLE DISPOSITIVE POWER

0

 
8

SHARED DISPOSITIVE POWER

2,292,107 Shares of Common Stock

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,292,107 Shares of Common Stock

 
10CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.0% (1)

 
12

TYPE OF REPORTING PERSON

PN

 
     

________________

 (1) Based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

 

   
  Page 4 of 10

 

CUSIP No.   13123X508  

 

1

NAME OF REPORTING PERSONS

JB Investments Parallel Fund III, L.P.

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 85-0864530

 
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b)

3SEC USE ONLY 
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 
6

SHARED VOTING POWER

166,915 Shares of Common Stock

 
7

SOLE DISPOSITIVE POWER

0

 
8

SHARED DISPOSITIVE POWER

166,915 Shares of Common Stock

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

166,915 Shares of Common Stock

 
10CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

0.3% (1)

 
12

TYPE OF REPORTING PERSON

PN

 
     

________________

 (1) 

Based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

 

   
  Page 5 of 10

 

CUSIP No.   13123X508  

 

1

NAME OF REPORTING PERSONS
JB Investments Fund III GP, LLC

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 85-0802339

 
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b)

3SEC USE ONLY 
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 
6

SHARED VOTING POWER

2,459,022 Shares of Common Stock

 
7

SOLE DISPOSITIVE POWER

0

 
8

SHARED DISPOSITIVE POWER

2,459,022 Shares of Common Stock

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,459,022 Shares of Common Stock

 
10CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.3% (1)

 
12

TYPE OF REPORTING PERSON

OO

 
     

________________

 (1) Based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

  

   
  Page 6 of 10

 

CUSIP No.   13123X508  

 

 

1

NAME OF REPORTING PERSONS

Brian J. Riley

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 85-0802339

 
2CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b)

3SEC USE ONLY 
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 
6

SHARED VOTING POWER

2,459,022 Shares of Common Stock

 
7

SOLE DISPOSITIVE POWER

0

 
8

SHARED DISPOSITIVE POWER

2,459,022 Shares of Common Stock

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,459,022 Shares of Common Stock

 
10CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.3% (1)

 
12

TYPE OF REPORTING PERSON

PN

 
     

________________

 (1) Based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

  

   
  Page 7 of 10

 

CUSIP No.13123X508  

 

Item 1(a).Name of Issuer:                                                         Callon Petroleum Company (the “Issuer”)

 

Item 1(b).Address of Issuer’s Principal Executive Offices:  One Briarlake Plaza 2000 W. Sam Houston Parkway S., Suite 2000 Houston, Texas 77042

 

Item 2(a).

Name of Person Filing:

This statement is jointly filed by and on behalf of each of JB Investments Management, LLC, JB Investments Fund III GP, LLC, JB Investments Fund III, L.P., JB Investments Parallel Fund III, L.P. (together with JB Investments Fund III, L.P., the “Funds”), and Brian J. Riley. The Funds are the record and direct beneficial owners of the securities covered by this statement. JB Investments Management, LLC is the investment adviser of, and may be deemed to beneficially own securities, owned by, the Funds. JB Investments Fund III GP, LLC is the general partner of, and may be deemed to beneficially own securities owned by the Funds. Mr. Riley is the sole manager of, and may be deemed to beneficially own securities owned by JB Investments Management, LLC.

 

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.

 

Each of the reporting persons may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Act. Each of the reporting persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

  
Item 2(b).Address of Principal Business Office or, if None, Residence:
 

The address of the principal business office of each of the reporting persons is:
355 Valley Park Road

Phoenixville, PA 19460

  
Item 2(c).Citizenship:
 See Item 4 on the cover page(s) hereto.
  
Item 2(d).Title of Class of Securities:
 Common Stock, $.01 par value
  
Item 2(e).CUSIP Number: 13123X508

 

Item 3.If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
  
 (a)Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
    
 (b)Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

 

 

   
  Page 8 of 10

 

CUSIP No.13123X508  

 

 (c)Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
    
 (d)Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
    
 (e)An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
    
 (f)An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
    
 (g)A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
    
 (h)A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
    
 (i)A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);
    
 (j)Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4.Ownership.
 

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

The information as of the date of the event which requires filing of this statement required by Items 4(a) – (c) is set forth in Rows 5 – 11 of the cover page for each Reporting Person listed above and is incorporated by reference for each such Reporting Person. The percentage set forth in Row 11 of the cover page for each Reporting Person is based on 46,153,710 shares of Common Stock outstanding as of February 23, 2021 as set forth in the Issuer’s Form 10-K filed with the Securities and Exchange Commission on February 25, 2021.

 

Item 5.Ownership of Five Percent or Less of a Class.
  
 If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐
  
Item 6.Ownership of More than Five Percent on Behalf of Another Person.
 Not applicable

 

   
  Page 9 of 10

 

CUSIP No .13123X508  

 

 

Item 7.Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
 Not applicable
  
Item 8.Identification and Classification of Members of the Group.
 Not applicable
  
Item 9.Notice of Dissolution of Group.
 Not applicable
  
Item 10.Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

 Dated:March 11, 2021 
   
 JB Investments Management, LLC 
   
 By:/s/ Brian J. Riley 
 Name:Brian J. Riley 
 Title:CEO 
   
 

JB Investments Fund III, L.P.

 

By: JB Investments Fund III GP, LLC

Its: General Partner

 

 
 Signature:/s/ Brian J. Riley 
 Name:Brian J. Riley 
 Title:Managing Member of JB Investments Fund III GP 
    
 

JB Investments Parallel Fund III, L.P.

 

 
 

By: JB Investments Fund III GP, LLC

Its: General Partner

 
   
 Signature:/s/ Brian J. Riley 
 Name:Brian J. Riley 
 Title:Managing Member of JB Investments Fund III GP 
    
 JB Investments Fund III GP, LLC 
  
 By:/s/ Brian J. Riley 
 Name:Brian J. Riley 
 Title:Managing Member 
    
 Brian J. Riley 
    
 By:/s/ Brian J. Riley 

 

 

   
  Page 10 of 10


 

 

EXHIBIT INDEX

 

 

EXHIBIT 1:Joint Acquisition Statement Pursuant to Section 240.13d-1(k)
  
 Members of Group