Amended Statement of Beneficial Ownership (3/a)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Candlewood Investment Group, LP

2. Date of Event Requiring Statement (MM/DD/YYYY) 7/1/2015

3. Issuer Name and Ticker or Trading Symbol

Pacific Ethanol, Inc. [PEIX]

(Last) (First) (Middle)

555 THEODORE FREMD AVE, SUITE C-303

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

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

(Street)

RYE, NY 10580

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

7/13/2015

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ 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)

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Non-Voting Common Stock ⁽¹⁾	⁽²⁾	⁽²⁾	Common Stock	3539284.4	⁽²⁾	I	See footnote ⁽³⁾

Explanation of Responses:
( 1)	The Non-Voting Common Stock were omitted from the Reporting Person's original Form 3.
( 2)	The Non-Voting Common Stock are convertible on a one-for-one basis into Common Stock. However, the Reporting Person 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 Reporting Person's current beneficial ownership of the Common Stock exceeds 9.99%, and accordingly, it cannot currently convert any of the Non-Voting Common Stock. At any time when a share of Non-Voting Common Stock is not owned by the Reporting Person or another Initial Holder (as defined below) or their respective affiliates, such share of Non-Voting Common Stock shall automatically convert into one share of Common Stock. "Initial Holder" means any person who received shares of Non-Voting Common Stock at the time of the closing of the merger between Pacific Ethanol, Inc. and Aventine Renewable Energy Holdings, Inc. The right to convert Non-Voting Common Stock into Common Stock does not expire.
( 3)	The Non-Voting Common Stock are held by investment funds for which Candlewood Investment Group, LP serves as the investment manager. Candlewood Investment Group, LP disclaims pecuniary interest in the reported securities except to the extent of its economic interest.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Candlewood Investment Group, LP 555 THEODORE FREMD AVE SUITE C-303 RYE, NY 10580		X

Signatures
Candlewood Investment Group, LP, By: Janet Miller, its Chief Operating Officer and General Counsel		7/15/2015
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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