Sec Form 3 Filing - ANGELO GORDON & CO., L.P. @ ABRAXAS PETROLEUM CORP - 2021-01-03

Insider filing report for Changes in Beneficial Ownership
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FORM 3
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
ANGELO GORDON & CO., L.P.
2. Issuer Name and Ticker or Trading Symbol
ABRAXAS PETROLEUM CORP [ AXAS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
Director by Deputization
(Last) (First) (Middle)
C/O ANGELO, GORDON & CO., L.P., 245 PARK AVENUE 26TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
01/03/2021
(Street)
NEW YORK, NY10167
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Series A Preferred Stock 685,505 I See Footnote( 1 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ANGELO GORDON & CO., L.P.
C/O ANGELO, GORDON & CO., L.P.
245 PARK AVENUE 26TH FLOOR
NEW YORK, NY10167
Director by Deputization
AG Energy Funding, LLC
C/O ANGELO, GORDON & CO., L.P.
245 PARK AVENUE 26TH FLOOR
NEW YORK, NY10167
X
AG GP LLC
C/O ANGELO, GORDON & CO., L.P.
245 PARK AVENUE, 26TH FLOOR
NEW YORK, NY10167
X
Baumgarten Joshua
C/O ANGELO, GORDON & CO., L.P.
245 PARK AVENUE, 26TH FLOOR
NEW YORK, NY10167
X
SCHWARTZ ADAM R
C/O ANGELO, GORDON & CO., L.P.
245 PARK AVENUE, 26TH FLOOR
NEW YORK, NY10167
X
Signatures
/s/ Christopher D. Moore, as Attorney-in-Fact for Josh Baumgarten, Co-Managing Member of AG GP LLC, General Partner of Angelo, Gordon & Co., L.P., Manager of AG Energy Funding, LLC 01/12/2022
Signature of Reporting Person Date
/s/ Christopher D. Moore, as Attorney-in-Fact for Josh Baumgarten, Co-Managing Member of AG GP LLC, General Partner of Angelo, Gordon & Co., L.P., 01/12/2022
Signature of Reporting Person Date
/s/ Christopher D. Moore, as Attorney-in-Fact for Josh Baumgarten, Co-Managing Member of AG GP LLC 01/12/2022
Signature of Reporting Person Date
/s/ Christopher D. Moore, as Attorney-in-Fact for Josh Baumgarten 01/12/2022
Signature of Reporting Person Date
/s/ Christopher D. Moore, as Attorney-in-Fact for Adam Schwartz 01/12/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares of Series A Preferred Stock held directly by AG Energy Funding, LLC ("AG Energy Funding") for which Angelo, Gordon & Co, L.P. ("Angelo Gordon") is the manager. Josh Baumgarten and Adam Schwartz are the co-managing members of AG GP LLC ("AG GP"), which is the sole general partner of Angelo Gordon and Josh Baumgarten and Adam Schwartz are the co-chief executive officers of Angelo Gordon. Each of Josh Baumgarten, Adam Schwartz and AG GP may be deemed to control Angelo Gordon. Each of Angelo Gordon, AG GP, Josh Baumgarten and Adam Schwartz disclaim beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein and this report shall not be deemed to be an admission that any of Angelo Gordon, AG GP, Josh Baumgarten or Adam Schwartz is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Remarks:
Each of Todd Dittmann, a managing director of Angelo, Gordon & Co, L.P. ("Angelo Gordon") and a member of Angelo Gordon's executive committee, and Damon Putman, a managing director of Angelo Gordon's energy investment group, is a member of the Board of Directors of Abraxas Petroleum Corporation (the "Issuer"). Daniel Baddeloo, a vice president in Angelo Gordon's energy group, will be appointed to serve as a member of the Board of Directors of the Issuer following the mailing of a Schedule 14f-1 to the Issuer's stockholders and the expiration of a ten-day waiting period following such mailing. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, AG Energy Funding, LLC, Angelo Gordon, AG GP LLC, Josh Baumgarten and Adam Schwartz may be deemed to be directors by deputization of the Issuer due to their relationship with Mr. Dittmann, Mr. Putman and Mr. Baddeloo.

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