Alto Ingredients, Inc. — Director's Dealing 2017

Mar 3, 2017

SEC Form 4/A — Form 4/A

Issuer: Pacific Ethanol, Inc. (PEIX)
CIK: 0000778164
Period of Report: 2016-12-12

Reporting Person: Candlewood Investment Group, LP (10% Owner)
Reporting Person: Candlewood Special Situations General, LLC (10% Owner)
Reporting Person: Candlewood Investment Group General, LLC (10% Owner)
Reporting Person: Candlewood Special Situations Master Fund, Ltd. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-12	Common Stock	S	1720417	$9.33	Disposed	4063342	Indirect
2016-12-12	Common Stock	S	1016352	$9.33	Disposed	2111561	Indirect

Footnotes

F1: The securities are directly held by Candlewood Special Situations Master Fund, Ltd. (the "Special Situations Fund"). Candlewood Investment Group, LP (the "Investment Manager") serves as the investment manager to the Special Situations Fund, and Candlewood Special Situations General, LLC (the "Fund GP") serves as the general partner of the Special Situations Fund. Candlewood Investment Group General, LLC (the "Manager GP") serves as the general partner of the Investment Manager. Each of the Reporting Persons, other than the Special Situations Fund, disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest.

F2: The securities are directly held by a private investment fund for which (i) the Investment Manager serves as the investment manager and (ii) the Fund GP serves as the general partner. The Manager GP serves as the general partner of the Investment Manager. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest.

F3: This amendment is being filed to correct the amount of shares sold. As a result of a clerical error in the total number of shares reported, the original Form 4 inadvertently reported 1,737,390 (instead of 1,720,417) and 1,026,379 (instead of 1,016,352) shares sold by the Special Situations Fund and a private investment fund as described in footnote 2 (the "Private Fund"), respectively. After giving effect to all transactions on December 12, 2016, the Special Situations Fund and the Private Fund beneficially owned 3,987,194 and 2,066,576 shares, respectively.