Pacific Ethanol CEO reports purchase of series B preferreds, warrant, for $5 million

By Lisa Kerner

Charlotte, N.C., June 6 - Neil M. Koehler, chief executive officer and president of Pacific Ethanol, Inc., acquired 256,410 shares of the company's series B preferred stock and a warrant to purchase 384,615 shares of common stock for $5 million on May 22.

Using the current conversion price, Koehler's 256,410 preferreds are convertible into 769,230 shares of common stock, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

Koehler beneficially owns 4,007,765 shares, or 8.9%, of the Sacramento-based ethanol provider.

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