Filing Details

Accession Number:
0001011438-22-000273
Form Type:
13D Filing
Publication Date:
2022-10-24 20:00:00
Filed By:
Angelo Gordon & Co
Company:
Northern Oil & Gas Inc.
Filing Date:
2022-10-25
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Angelo, Gordon Co. 7,316,976 0 7,316,976 0 7,316,976 8.5%
AG GP 7,316,976 0 7,316,976 0 7,316,976 8.5%
Josh Baumgarten 0 7,316,976 0 7,316,976 7,316,976 8.5%
Adam Schwartz 0 7,316,976 0 7,316,976 7,316,976 8.5%
Filing

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
______________________________________________

SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 17)*

______________________________________________
Northern Oil and Gas, Inc.
(Name of Issuer)
Common Stock, par value $0.001
(Title of Class of Securities)
665531109
(CUSIP NUMBER)
Christopher D. Moore
Angelo, Gordon & Co, L.P.
245 Park Avenue, 26th Floor
New York, NY 10167
Tel. No.: (212) 692-2009
COPIES TO:
Jason Daniel
Akin Gump Strauss Hauer & Feld LLP
2300 N. Field Street
Suite 1800
Dallas, TX 75201
(214) 969-4209
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
October 20, 2022
(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 which is the subject of this Schedule 13D/A, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box ☐
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, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
 
*
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 disclosures provided in a prior cover page.
 

 
 
 
CUSIP No. 665531109
 
13D
 
 
 
 
 
 
 
 
 
1
 
NAME OF REPORTING PERSONS
 
Angelo, Gordon & Co., L.P.
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS*
 
AF
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
 
7,316,976 (1)
 
8
 
SHARED VOTING POWER
 
0
 
9
 
SOLE DISPOSITIVE POWER
 
7,316,976 (1)
 
10
 
SHARED DISPOSITIVE POWER
 
0
 
 
 
 
 
 
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,316,976 (1)
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
 
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
8.5%*
14
 
TYPE OF REPORTING PERSON*
 
IA, PN
 
(1)
Consisting of the number of shares of common stock, par value $0.001 per share (“Common Stock”), of Northern Oil and Gas, Inc. (the “Issuer”) which may be received upon conversion of the 6.500% Series A Perpetual Cumulative Convertible Preferred Stock (“Preferred Stock”) of the Issuer.
*
Based on 78,914,598 shares of Common Stock of the Issuer outstanding as of August 1, 2022, as reported in the Issuer’s Form 10-Q filed with the SEC on August 4, 2022.

 
 
 
CUSIP No. 665531109
 
13D
 
 
 
 
 
 
 
 
1
 
NAME OF REPORTING PERSONS
 
AG GP LLC
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS*
 
AF
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
 
7,316,976 (1)
 
8
 
SHARED VOTING POWER
 
0
 
9
 
SOLE DISPOSITIVE POWER
 
7,316,976 (1)
 
10
 
SHARED DISPOSITIVE POWER
 
0
 
 
 
 
 
 
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,316,976 (1)
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
 
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
8.5%*
14
 
TYPE OF REPORTING PERSON*
 
OO, HC
 
(1)
Consisting of the number of shares of Common Stock which may be received upon conversion of the Preferred Stock.
*
Based on 78,914,598 shares of Common Stock of the Issuer outstanding as of August 1, 2022, as reported in the Issuer’s Form 10-Q filed with the SEC on August 4, 2022.

 
 
 
CUSIP No. 665531109
 
13D
 
 
 
 
 
 
 
 
1
 
NAME OF REPORTING PERSONS
 
Josh Baumgarten
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS*
 
AF
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
 
6
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States of America
 
 
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
 
7
 
SOLE VOTING POWER
 
0
 
8
 
SHARED VOTING POWER
 
7,316,976 (1)
 
9
 
SOLE DISPOSITIVE POWER
 
0
 
10
 
SHARED DISPOSITIVE POWER
 
7,316,976 (1)
 
 
 
 
 
 
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,316,976 (1)
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
 
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
8.5%*
14
 
TYPE OF REPORTING PERSON*
 
IN, HC
 
(1)
Consisting of the number of shares of Common Stock which may be received upon conversion of the Preferred Stock.
*
Based on 78,914,598 shares of Common Stock of the Issuer outstanding as of August 1, 2022, as reported in the Issuer’s Form 10-Q filed with the SEC on August 4, 2022.

 
 
 
CUSIP No. 665531109
 
13D
 
 
 
 
 
 
 
 
1
 
NAME OF REPORTING PERSONS
 
Adam Schwartz
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
SOURCE OF FUNDS*
 
AF
5
 
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
 
6
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States of America
 
 
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
 
7
 
SOLE VOTING POWER
 
0
 
8
 
SHARED VOTING POWER
 
7,316,976 (1)
 
9
 
SOLE DISPOSITIVE POWER
 
0
 
10
 
SHARED DISPOSITIVE POWER
 
7,316,976 (1)
 
 
 
 
 
 
 
11
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,316,976 (1)
12
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
 
13
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
8.5%*
14
 
TYPE OF REPORTING PERSON*
 
IN, HC
 
(1)
Consisting of the number of shares of Common Stock which may be received upon conversion of the Preferred Stock.
*
Based on 78,914,598 shares of Common Stock of the Issuer outstanding as of August 1, 2022, as reported in the Issuer’s Form 10-Q filed with the SEC on August 4, 2022.
AMENDMENT NO. 17 TO SCHEDULE 13D
This Amendment No. 17 to Schedule 13D amends and supplements the Schedule 13D filed by (i) Angelo, Gordon & Co., L.P., a Delaware limited partnership (“Angelo Gordon”), (ii) AG GP LLC (formerly known as AG Partners, LLC), a Delaware limited liability company (“AG GP”), (iii) JAMG LLC, a Delaware limited liability company (“JAMG”) and (iv) Michael L. Gordon with the Securities and Exchange Commission (the “SEC”) on August 30, 2019, as amended by the Amendment No. 1 to Schedule 13D (the “Amendment No. 1”), filed on October 21, 2019, Amendment No. 2 to Schedule 13D (the “Amendment No. 2”), filed on November 5, 2019, Amendment No. 3 to Schedule 13D (the “Amendment No. 3”), filed on November 11, 2019, Amendment No. 4 to Schedule 13D (the “Amendment No. 4”), filed on November 20, 2019, Amendment No. 5 to Schedule 13D (the “Amendment No. 5”), filed on January 22, 2020, Amendment No. 6 to Schedule 13D (the “Amendment No. 6”), filed on February 13, 2020, Amendment No. 7 to Schedule 13D (the “Amendment No. 7”), filed on August 4, 2020, Amendment No. 8 to Schedule 13D (the “Amendment No. 8”), filed on March 10, 2020, Amendment No. 9 to Schedule 13D (the “Amendment No. 9”), filed on May 26, 2020, Amendment No. 10 to Schedule 13D (the “Amendment No. 10”), filed on October 28, 2020, Amendment No. 11 to Schedule 13D (the “Amendment No. 11) filed on January 12, 2021, Amendment No. 12 to Schedule 13D (the “Amendment No. 12”) filed on September 8, 2021, Amendment No. 13 to Schedule 13D (the “Amendment No. 13”) filed on October 5, 2021, Amendment No. 14 to Schedule 13D (the “Amendment No. 14) filed on March 8, 2022, Amendment No. 15 to Schedule 13D (the “Amendment No. 15) filed on August 24, 2022 and Amendment No. 16 to Schedule 13D (the “Amendment No. 16) filed on August 26, 2022 (the “Schedule 13D”).
This Amendment No. 17 amends and supplements the Schedule 13D as specifically set forth herein.
All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.
 
Item 5.
Interest in Securities of the Issuer 
Item 5 of the Schedule 13D is hereby amended and restated to read as follows:
(a) - (b) Items 7 through 11 and 13 of each of the cover pages of this Schedule 13D are incorporated herein by reference. Such information is based on 78,914,598 shares of Common Stock of the Issuer outstanding as of August 1, 2022, as reported in the Issuer’s Form 10-Q filed with the SEC on August 4, 2022. The information below is provided as of 4 pm New York City Time on October 24, 2022.
Angelo Gordon, in its capacity as investment manager to the Accounts, has sole power to vote 7,316,976 shares of Common Stock and the power to dispose of 7,316,976 shares of Common Stock held in the Accounts, consisting of shares issuable upon the conversion of the Preferred Stock. As the general partner of Angelo Gordon, AG GP may be deemed to have the sole power to vote 7,316,976 shares of Common Stock and the power to dispose of 7,316,976 shares of Common Stock held in the Accounts. As a co-managing member of AG GP and the co-chief executive officer of Angelo Gordon, Mr. Baumgarten may be deemed to have shared power to vote 7,316,976 shares of Common Stock and the shared power to dispose of 7,316,976 shares of Common Stock held in the Accounts. As a co-managing member of AG GP and the co-chief executive officer of Angelo Gordon, Mr. Schwartz may be deemed to have shared power to vote 7,316,976 shares of Common Stock and the shared power to dispose of 7,316,976 shares of Common Stock held in the Accounts.
(c) The transactions by the Accounts in the securities of the Issuer during the past sixty days are set forth in Schedule A, which is incorporated herein by reference.
(d) Not Applicable.
(e) Not Applicable.
 
Item 6.
Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer
Item 6 of the Schedule 13D is hereby amended by adding the following:
As of 9 am on October 25, 2022, the Accounts currently have an aggregate short call option position relating to 200,000 shares of Common Stock that expire on December 16, 2022. The Accounts may from time to time purchase and sell exchange-traded options contracts relating to shares of Common Stock.
 
Signature
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: October 25, 2022
 

 
 
 
 
 
 
ANGELO, GORDON & CO., L.P.
 
 
 
By:
 
AG GP, LLC
 
 
 
Its General Partner
 
 
 
 
By:
 
Josh Baumgarten
 
 
 
Its Managing Member
 
 
 
 
By:
 
/s/ Christopher D. Moore
 
 
 
Christopher D. Moore
 
 
 
Attorney-in-Fact
 
 
 
AG GP, LLC
 
 
 
 
By:
 
Josh Baumgarten
 
 
 
Its Co-Managing Member
 
 
 
 
By:
 
/s/ Christopher D. Moore
 
 
 
Christopher D. Moore
 
 
 
Attorney-in-Fact
 
 
 
JOSH BAUMGARTEN
 
 
 
 
By:
 
/s/ Christopher D. Moore
 
Christopher D. Moore
 
Attorney-in-Fact
 
 
 
ADAM SCHWARTZ
 
 
 
 
By:
 
/s/ Christopher D. Moore
 
Christopher D. Moore
 
Attorney-in-Fact



Schedule A

The following table sets forth all transactions with respect to shares of Common Stock effected in the last sixty days by the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on October 24, 2022. All such transactions were sales of shares of Common Stock effected in the open market through brokers, and the table excludes commissions paid in per share prices.
 
 
 
 
 
 
 
 
 
Trade Date
 
Amount Purchased/(Sold)
 
 
Price
 
10/20/2022
 
 
(1,021,442)
 
 
 
34.752