SEC FORM 3/A

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Candlewood Investment Group, LP

(Last)

(First)

(Middle)

555 THEODORE FREMD AVE., SUITE C-303

(Street)

RYE

10580

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/01/2015

3. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [ PEIX ]

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

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

5. If Amendment, Date of Original Filed (Month/Day/Year)
07/13/2015

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,992,187⁽¹⁾	I	See footnote⁽²⁾
Common Stock	3,126,184⁽¹⁾	I	See footnote⁽²⁾
Common Stock	519,361⁽¹⁾	I	See footnote⁽²⁾
Common Stock	77,293⁽¹⁾	I	See footnote⁽²⁾
Common Stock	48,153⁽¹⁾	I	See footnote⁽³⁾
Common Stock	192,612⁽¹⁾	I	See footnote⁽³⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	1,796,071⁽¹⁾	⁽⁴⁾	I	See footnote⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	1,352,316⁽¹⁾	⁽⁴⁾	I	See footnote⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	201,226⁽¹⁾	⁽⁴⁾	I	See footnote⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	46,298⁽¹⁾	⁽⁴⁾	I	See footnote⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	28,845⁽¹⁾	⁽⁴⁾	I	See footnote⁽³⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	115,376⁽¹⁾	⁽⁴⁾	I	See footnote⁽³⁾

1. Name and Address of Reporting Person^*

Candlewood Investment Group, LP

(Last)

(First)

(Middle)

555 THEODORE FREMD AVE., SUITE C-303

(Street)

RYE

10580

(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^*

Candlewood Special Situations General, LLC

(Last)

(First)

(Middle)

555 THEODORE FREMD AVE., SUITE C-303

(Street)

RYE

10580

(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^*

Candlewood Investment Group General, LLC

(Last)

(First)

(Middle)

555 THEODORE FREMD AVE., SUITE C-303

(Street)

RYE

10580

(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. This amendment is being filed to correct the number of shares of Common Stock and Non-Voting Common Stock reported as beneficially owned.

2. The securities are directly held by private investment funds for which (i) Candlewood Investment Group, LP (the "Investment Manager") serves as the investment manager and (ii) Candlewood Special Situations General, LLC (the "Fund GP") serves as the general partner. Candlewood Investment Group General, LLC (the "Manager GP") serves as the general partner of the Investment Manager. Each of the Investment Manager, the Fund GP and the Manager GP disclaims pecuniary interest in the reported securities except to the extent of its economic interest.

3. The securities are directly held by private investment funds for which the Investment Manager controls the investment manager advising such funds. The Manager GP serves as the general partner of the Investment Manager. Each of the Investment Manager and the Manager GP disclaims pecuniary interest in the reported securities except to the extent of its economic interest.

4. The Non-Voting Common Stock are convertible on a one-for-one basis into Common Stock. However, the holder cannot convert the securities if it and any of its affiliates would, after such conversion, beneficially own greater than 9.99% of the Common Stock. The beneficial ownership of the Common Stock by the holder and its affiliates currently exceeds 9.99%, and accordingly, it cannot currently convert any of the Non-Voting Common Stock. The right to convert Non-Voting Common Stock into Common Stock does not expire.

Remarks:

	/s/ Candlewood Investment Group, LP, by Janet Miller, its Chief Operating Officer and General Counsel	01/14/2016
	/s/ Candlewood Special Situations General, LLC, by Michael Lau, its Class A Member	01/14/2016
	/s/ Candlewood Investment Group General, LLC, by Michael Lau, its Manager	01/14/2016
	** Signature of Reporting Person	Date
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