SEC FORM 4

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Hicks George G

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LILIS ENERGY, INC. [ LLEX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/31/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		41,600		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	8,117,073⁽²⁾	$1,000	18,134,353	I	See footnotes⁽¹⁾⁽³⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		29,600		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	5,775,610⁽²⁾	$1,000	12,903,290	I	See footnotes⁽¹⁾⁽⁴⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		13,000		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	2,536,585⁽²⁾	$1,000	5,666,985	I	See footnotes⁽¹⁾⁽⁵⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		6,000		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	1,170,731⁽²⁾	$1,000	2,615,531.76	I	See footnotes⁽¹⁾⁽⁶⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		3,000		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	585,365⁽²⁾	$1,000	1,307,765.88	I	See footnotes⁽¹⁾⁽⁷⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾
Series C Convertible Paricipating Preferred Stock	$6.15	01/31/2018		P		6,800		01/31/2018	⁽²⁾	Common Stock, $0.001 par value	1,326,829⁽²⁾	$1,000	2,964,269.33	I	See footnotes⁽¹⁾⁽⁸⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾

1. Name and Address of Reporting Person^*

Hicks George G

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund XI (Master), L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund XI G.P., LLC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund XII (Master), L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund XII G.P., L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund XII UGP, LLC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Skyway Master Fund, L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Skyway fund G.P., LLC

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Investment Partners (Offshore) Master, L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Varde Fund VI-A, L.P.

(Last)

(First)

(Middle)

901 MARQUETTE AVE. S., SUITE 3300

(Street)

MINNEAPOLIS

055402

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. On January 30, 2018, the Issuer and The Varde Fund XI (Master), L.P. ("Fund XI"), The Varde Fund XII (Master), L.P. ("Fund XII"), The Varde Skyway Master Fund, L.P. ("Skyway Fund"), Varde Investment Partners (Offshore) Master, L.P. ("VIPO"), The Varde Fund VI-A, L.P. ("Fund VI-A") and Varde Investment Partners, L.P. ("VIP") (collectively, the "Purchasers") entered into a Securities Purchase Agreement (the "Securities Purchase Agreement"), pursuant to which on January 31, 2018 (the "Closing Date") the Purchasers purchased 100,000 shares of Series C Preferred Stock, from the Issuer in a private placement.

2. The Series C Preferred Stock is perpetual and has no expiration date. The amount reported reflects the amount of shares of Common Stock issuable upon conversion of the Series C Preferred Stock.

3. Reflects securities held directly by Fund XI. The Varde Fund XI G.P., LLC ("Fund XI GP") is the general partner of Fund XI.

4. Reflects securities held directly by Fund XII. The Varde Fund XII G.P., L.P. ("Fund XII GP") is the general partner of Fund XII, and The Varde Fund XII UGP, LLC ("Fund XII UGP") is the general partner of Fund XII GP.

5. Reflects securities held directly by Skyway Fund. The Varde Skyway Fund G.P., LLC ("Skyway Fund GP") is the general partner of Skyway Fund.

6. Reflects securities held directly by VIPO. Varde Investment Partners G.P., LLC ("VIP GP") is the general partner of VIP Offshore.

7. Reflects securities held directly by The Fund VI-A. VIP GP is the general partner of Fund VI-A.

8. Reflects securities held directly by VIP. VIP GP is the general partner of Fund VIP.

9. Varde Partners, L.P. ("Managing Member") is the managing member of each of Fund XI GP, Fund XII UGP, Skyway Fund GP and VIP GP. Varde Partners, Inc. ("General Partner") is the general partner of the Managing Member. Following the transaction described above, George G. Hicks may be deemed to beneficially own all of the securities which may be acquired upon conversion of the Series C Preferred Stock because, as the chief executive officer of the General Partner, he may be deemed to have voting and/or dispositive power over such securities.

10. Due to limitations of the electronic filing system, certain Reporting Persons are filing a separate Form 4.

11. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Remarks:

	GEORGE G. HICKS, By: , Name: George G. Hicks	02/02/2018
	THE VARDE FUND XI (Master), L.P., By: Varde Partners, L.P., Its Managing Member, By: Varde Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE FUND XI G.P., LLC, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE FUND XII (MASTER), L.P., By: The Vade Fund XII G.P., L.P., Its General Partner, By: The Vade Fund XII UGP, LLC, Its General Partner, By: Vade Partners, L.P., By: Vade Partners, Inc., By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE FUND XII G.P., L.P., By: The Vade Fund XII UGP, LLC, Its General Partner, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE FUND XII UGP, LLC, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE SKYWAY MASTER FUND, L.P., By: Vade Skyway Fund G.P., LLC, Its General Partner, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE SKYWAY FUND G.P., LLC, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	VARDE INVESTMENT PARTNERS (OFFSHORE) MASTER, L.P., By: Vade Investment Partners G.P., LLC, Its General Partner, By: Vade Partners, L.P., By: Vade Partners, Inc., By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	THE VARDE FUND VI-A, L.P., By: Vade Investment Partners G.P., LLC, Its General Partner, By: Vade Partners, L.P., Its Managing Member, By: Vade Partners, Inc., Its General Partner, By: , Name: David A. Marple, Title: General Counsel	02/02/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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