# EDGAR Filing Document

**Accession Number:** 0001380585
**File Stem:** 0000921895-25-003243
**Filing Date:** 2025-12
**Character Count:** 18082
**Document Hash:** 0b15d92cf660397500fe306feac4bbb5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-003243.hdr.sgml**: 20251202

**ACCESSION NUMBER**: 0000921895-25-003243

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251202

**DATE AS OF CHANGE**: 20251202

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARNWELL INDUSTRIES INC
- **CENTRAL INDEX KEY:** 0000010048
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 720496921
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-20279
- **FILM NUMBER:** 251543908

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 ALAKEA ST.
- **STREET 2:** SUITE 500
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813
- **BUSINESS PHONE:** 808-531-8400

**MAIL ADDRESS:**
- **STREET 1:** 1100 ALAKEA ST.
- **STREET 2:** SUITE 500
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BMA CORP/TN
- **DATE OF NAME CHANGE:** 19770324

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BARNWELL OFFSHORE INC
- **DATE OF NAME CHANGE:** 19671101
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Radoff Bradley Louis
- **CENTRAL INDEX KEY:** 0001380585

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**MAIL ADDRESS:**
- **STREET 1:** 2727 KIRBY DRIVE
- **STREET 2:** UNIT 29L
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77098

## Ex-1

Exhibit 1

**<u>Directors and Officers of The Radoff Family Foundation</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Name and Position</u> | &nbsp;&nbsp;<u>Principal Occupation</u> | &nbsp;&nbsp;<u>Principal Business Address</u> | &nbsp;&nbsp;<u>Citizenship</u> |
| &nbsp;&nbsp;Bradley L. Radoff<br> Director<sup>\*</sup> |  |  |  |
| &nbsp;&nbsp;Rose Radoff<br> Director and Secretary | &nbsp;&nbsp;Director and Secretary | &nbsp;&nbsp;2727 Kirby Drive, Unit 29L Houston, Texas 77098 | &nbsp;&nbsp;United States |
| &nbsp;&nbsp;Russell Radoff<br> Director | &nbsp;&nbsp;Medical Doctor | &nbsp;&nbsp;Medical Clinic of Houston, L.L.P.<br> 1701 Sunset Boulevard<br> Houston, Texas 77005 | &nbsp;&nbsp;United States |

---

------

<sup>\*</sup> Mr. Radoff is a Reporting Person and, as such, the information with respect to Mr. Radoff called for by the Schedule 13D is set forth therein.

## Exhibit 99.3

Exhibit 99.3

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the shares of Common Stock, $0.50 par value, of Barnwell Industries, Inc., a Delaware corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| Radoff Family Foundation | Radoff Family Foundation |
| By: | /s/ Bradley L. Radoff |
|  | Bradley L. Radoff, Director |
| Date: | 12/02/2025 |

---

---

| | |
|:---|:---|
| Radoff Bradley Louis | Radoff Bradley Louis |
| By: | /s/ Bradley L. Radoff |
|  | Bradley L. Radoff |
| Date: | 12/02/2025 |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**BARNWELL INDUSTRIES INC**

*(Name of Issuer)*

**Common Stock, $0.50 par value**

*(Title of Class of Securities)*

**068221100**

*(CUSIP Number)*

**BRADLEY L. RADOFF**<br>2727 Kirby Drive, Unit 29L<br>Houston TX 77098<br>713-482-2196

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/24/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **068221100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Radoff Family Foundation** | Name of reporting person<br>**Radoff Family Foundation** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**560090.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**560090.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**560090.00** | Aggregate amount beneficially owned by each reporting person<br>**560090.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.6%** | Percent of class represented by amount in Row (11)<br>**4.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **068221100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Radoff Bradley Louis** | Name of reporting person<br>**Radoff Bradley Louis** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**560091.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**560090.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**560091.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**560090.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1120181.00** | Aggregate amount beneficially owned by each reporting person<br>**1120181.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.1%** | Percent of class represented by amount in Row (11)<br>**9.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $0.50 par value

**(b) Name of Issuer:**
BARNWELL INDUSTRIES INC

**(c) Address of Issuer's Principal Executive Offices:**
1100 ALAKEA ST., SUITE 500, HONOLULU, HI, 96813

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the securities of the Issuer reported herein based on the Reporting Persons' belief that the securities, when purchased, represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Issuer at prices that would make the purchase or sale of such securities desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

On November 24, 2025, the Radoff Foundation and Mr. Radoff entered into a securities purchase agreement (the "Purchase Agreement") with the Issuer and certain other investors pursuant to which the Issuer agreed to issue and sell an aggregate of: (i) 2,221,141 Shares, and (ii) warrants (the "Common Warrants") to purchase up to 1,029,104 Shares (the "Warrant Shares") in a private placement offering of the Issuer's securities (the "Offering"). The price of the Shares sold in the Offering was $1.10 per Share and each investor (other than certain investors affiliated with the Issuer) received one Common Warrant for every two Shares purchased in the Offering. Pursuant to the Offering, (x) the Radoff Foundation purchased an aggregate of 560,090 Shares and Common Warrants to purchase up to an aggregate of 280,045 Warrant Shares and (y) Mr. Radoff purchased an aggregate of 560,091 Shares and Common Warrants to purchase up to an aggregate of 280,045 Warrant Shares.

The Common Warrants have an exercise price of $1.65 per Share (the "Exercise Price"), and can be exercised starting 180 days following the date of closing of the Offering (the "Initial Exercise Date") and will be exercisable for three years following the Initial Exercise Date (the "Termination Date"). The Common Warrants contain customary anti-dilution provisions in respect of recapitalizations, stock splits, stock dividends and similar transactions but do not contain anti-dilution provisions with respect to future securities issuances. Beginning on the Initial Exercise Date and ending on the Termination Date, the Issuer will have the right to require holders of Common Warrants to exercise their Common Warrants, in whole or in part, under certain circumstances and subject to certain conditions, if the price of the Shares exceeds two times the then-current Exercise Price of the Common Warrants for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period.

The Offering closed (the "Closing") on November 28, 2025.

Pursuant to the terms of the Purchase Agreement, following the Closing, Mr. Radoff has the right, but not the obligation, to request that the Board appoint one individual as a director to the Board, subject to certain customary eligibility requirements. Mr. Radoff has recommended that Joshua Schecter serve as a director to the Board, and it is expected that Mr. Schecter will join the Board following the Closing.

The Purchase Agreement provides that the Issuer will register the resale of the Shares and the Warrant Shares acquired in connection with the Offering. The Issuer is required to prepare and file a registration statement with the Securities and Exchange Commission no later than 45 days after the date of the Closing (the "Filing Deadline"). The Issuer is required to use its commercially reasonable efforts to have the registration statement declared effective no later than the 30th calendar day following the Filing Deadline or if the Securities and Exchange Commission notifies the Issuer that it will "review" the initial registration statement, the 75th calendar day following the Filing Deadline.

The Reporting Persons disclaim the formation of any group with the other investors that are parties to the Purchase Agreement in all respects.

The foregoing descriptions of the terms of the Purchase Agreement and the Common Warrants herein are not intended to be complete and are qualified in their entirety by reference to copies of the form of Purchase Agreement and the form of Common Warrant, which are attached hereto as Exhibits 99.1 and 99.2, respectively.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the securities of the Issuer, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of Directors (the "Board") of the Issuer, engaging in discussions with stockholders of the Issuer or third parties, including potential acquirers and service providers about the Issuer and the Reporting Persons' investment, making proposals to the Issuer concerning changes to the capital allocation strategy, capitalization, ownership structure, including a sale of the Issuer as a whole or in parts, Board structure (including Board composition) or operations of the Issuer, purchasing additional securities of the Issuer, selling some or all of their securities, engaging in short selling of or any hedging or similar transaction with respect to the securities of the Issuer, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported owned by the Reporting Persons is based upon 12,294,675 Shares believed to be outstanding following the Closing of the Offering, consisting of the (i) 10,073,534 Shares outstanding as of August 11, 2025, which is the total number of Shares outstanding as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 13, 2025, and (ii) 2,221,141 Shares believed to be issued in connection with the Closing of the Offering.

As of the date hereof, the Radoff Foundation directly beneficially owned 560,090 Shares, constituting approximately 4.6% of the Shares outstanding.

As of the date hereof, Mr. Radoff directly beneficially owned 560,091 Shares, constituting approximately 4.6% of the Shares outstanding. Mr. Radoff, as a director of the Radoff Foundation, may be deemed to beneficially own the 560,090 Shares beneficially owned by the Radoff Foundation, which, together with the Shares he directly beneficially owns, constitutes an aggregate of 1,120,181 Shares, constituting approximately 9.1% of the Shares outstanding.

As of the date hereof, each of the Reporting Persons hold Common Warrants to purchase up to an aggregate of 280,045 Warrant Shares. As more fully explained in Item 4 above, the Common Warrants are not exercisable until the Initial Exercise Date and are excluded from each of the Reporting Persons' beneficial ownership as reported herein.

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each Reporting Person disclaims beneficial ownership of the Shares that he or it does not directly own.

**(b)**
Each of the Radoff Foundation and Mr. Radoff may be deemed to share the power to vote and dispose of the Shares directly beneficially owned by the Radoff Foundation.

Mr. Radoff has the sole power to vote and dispose of the Shares directly beneficially owned by him.

**(c)**
Except as otherwise set forth herein, there have been no transactions in the securities of the Issuer by the Reporting Persons during the past 60 days. Pursuant to the Purchase Agreement, (i) the Radoff Foundation purchased 560,090 Shares and 280,045 Common Warrants for approximately $616,100, and (ii) Mr. Radoff purchased 560,091 Shares and 280,045 Common Warrants for approximately $616,100.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The disclosure with respect to the Offering, including the descriptions of the Purchase Agreement and the Common Warrants, is incorporated herein by reference.

On December 2, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Radoff Family Foundation

**Signature:** /s/ Bradley L. Radoff

**Name/Title:** Bradley L. Radoff, Director

**Date:** 12/02/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Radoff Bradley Louis

**Signature:** /s/ Bradley L. Radoff

**Name/Title:** Bradley L. Radoff

**Date:** 12/02/2025