SCHEDULE 13D/A: Vitesse Energy Completes Lucero Acquisition, Shareholder Joseph Steinberg's Stake Diluted to 7.4%

Joseph S. Steinberg's latest Schedule 13D amendment reveals his beneficial ownership in Vitesse Energy, Inc. has decreased to 7.4% following Vitesse's acquisition of Lucero Energy Corp. on March 7, 2025.

Summary

• This document is Amendment No. 2 to the Schedule 13D filed by Joseph S. Steinberg concerning his beneficial ownership in Vitesse Energy, Inc.
• On March 7, 2025, Vitesse Energy, Inc. completed the previously announced acquisition of Lucero Energy Corp. through an arrangement.
• Vitesse acquired all issued and outstanding voting common shares of Lucero in exchange for the issuance of Vitesse Common Stock.
• Each Lucero Share was exchanged for 0.01239 of a share of Vitesse Common Stock.
• Following the arrangement, the number of outstanding Vitesse Common Stock shares increased by 8,169,368, bringing the total to 38,578,409 outstanding shares.
• As a direct result of the increased share count, Joseph S. Steinberg's percentage beneficial ownership in Vitesse Energy, Inc. decreased proportionately.
• As of March 10, 2025, Joseph S. Steinberg beneficially owned 2,863,591 shares of Vitesse Common Stock, representing 7.4% of the outstanding shares.
• His beneficial ownership includes 2,851,002 shares over which he has sole voting and dispositive power (held directly, by wholly-owned corporations, family trusts, a charitable trust, and 5,504 shares underlying restricted stock units vesting within 60 days).
• An additional 12,589 shares are held by his spouse, over which he may be deemed to have shared voting and shared dispositive power.

Sentiment

Score: 5

Explanation: The document is a factual compliance filing (Schedule 13D amendment) reporting a change in beneficial ownership following a completed acquisition. Its tone is neutral, simply stating facts and figures.

Positives

• Completion of the previously announced acquisition of Lucero Energy Corp. by Vitesse Energy, Inc., indicating the successful execution of a strategic corporate action.

Negatives

• Joseph S. Steinberg's percentage beneficial ownership in Vitesse Energy, Inc. decreased to 7.4% due to the dilution from the issuance of new shares for the acquisition.

Future Outlook

NA

Industry Context

The acquisition of Lucero Energy Corp. by Vitesse Energy, Inc. reflects ongoing consolidation trends within the energy sector, where companies seek to expand their asset base and operational scale through strategic mergers and acquisitions.

Stakeholder Impact

• Shareholders of Vitesse Energy, Inc. experienced dilution of their individual percentage ownership due to the issuance of 8,169,368 new shares for the acquisition.
• Former shareholders of Lucero Energy Corp. became new shareholders of Vitesse Energy, Inc.

Key Dates

Keywords

Vitesse Energy, Lucero Energy, Acquisition, Merger, Schedule 13D, Joseph S. Steinberg, Shareholder Ownership, Common Stock, SEC Filing, Energy Sector, Oil and Gas