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)

___ Form filed by One Reporting Person
_ X _ 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)
Common Stock	2992187 ⁽¹⁾	I	See footnote ⁽²⁾
Common Stock	3126184 ⁽¹⁾	I	See footnote ⁽²⁾
Common Stock	519361 ⁽¹⁾	I	See footnote ⁽²⁾
Common Stock	77293 ⁽¹⁾	I	See footnote ⁽²⁾
Common Stock	48153 ⁽¹⁾	I	See footnote ⁽³⁾
Common Stock	192612 ⁽¹⁾	I	See footnote ⁽³⁾

*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	⁽⁴⁾	⁽⁴⁾	Common Stock	1796071 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	1352316 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	201226 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	46298 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽²⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	28845 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽³⁾
Non-Voting Common Stock	⁽⁴⁾	⁽⁴⁾	Common Stock	115376 ⁽¹⁾	⁽⁴⁾	I	See footnote ⁽³⁾

Explanation of Responses:
( 1)	This amendment is being filed to correct the number of shares of Common Stock and Non-Voting Common Stock reported as beneficially owned.
( 2)	The securities are directly held by private investment funds for which (i) Candlewood Investment Group, LP (the "Investment Manager") serves as the investment manager and (ii) Candlewood Special Situations General, LLC (the "Fund GP") serves as the general partner. Candlewood Investment Group General, LLC (the "Manager GP") serves as the general partner of the Investment Manager. Each of the Investment Manager, the Fund GP and the Manager GP disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
( 3)	The securities are directly held by private investment funds for which the Investment Manager controls the investment manager advising such funds. The Manager GP serves as the general partner of the Investment Manager. Each of the Investment Manager and the Manager GP disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
( 4)	The Non-Voting Common Stock are convertible on a one-for-one basis into Common Stock. However, the holder 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 beneficial ownership of the Common Stock by the holder and its affiliates currently exceeds 9.99%, and accordingly, it cannot currently convert any of the Non-Voting Common Stock. The right to convert Non-Voting Common Stock into Common Stock does not expire.

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
Candlewood Special Situations General, LLC 555 THEODORE FREMD AVE., SUITE C-303 RYE, NY 10580		X
Candlewood Investment Group General, LLC 555 THEODORE FREMD AVE., SUITE C-303 RYE, NY 10580		X

Signatures
/s/ Candlewood Investment Group, LP, by Janet Miller, its Chief Operating Officer and General Counsel		1/14/2016
^** Signature of Reporting Person		Date
/s/ Candlewood Special Situations General, LLC, by Michael Lau, its Class A Member		1/14/2016
^** Signature of Reporting Person		Date
/s/ Candlewood Investment Group General, LLC, by Michael Lau, its Manager		1/14/2016
^** 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).
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