Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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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 ^* RAVICH JESS M	2. Issuer Name and Ticker or Trading Symbol ALJ REGIONAL HOLDINGS INC [ ALJJ ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer
(Last) (First) (Middle) 244 MADISON AVENUE, PMB #358	3. Date of Earliest Transaction (MM/DD/YYYY) 3/12/2020
(Street) NEW YORK, NY 10016 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	3/13/2020		A		14419	A	$0.7493	9057626	D
Common Stock	3/12/2020		A		29200	A	$0.7497	9043207	D
Common Stock								4853804	I	By Exemption Trust under the Ravich Revocable Trust of 1989
Common Stock								1484677	I	Held by Libra Securities Holdings, LLC
Common Stock								668669	I	Held through pension plan

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$4.00							8/3/2015	8/2/2022	Common Stock	350000		350000	D
Warrants	$1.80							7/30/2019	7/30/2021	Common Stock	199800 ⁽²⁾		199800	I	Held through pension plan
Warrants	$1.80							7/30/2019	7/30/2021	Common Stock	319680 ⁽¹⁾		319680	I	Held by Libra Securities Holdings, LLC
Warrants	⁽³⁾							12/17/2019	12/17/2024	Common Stock	225000 ⁽⁴⁾		225000	I	Held by Ravich Permanent Partnership LLP
Warrants	⁽³⁾							12/17/2019	12/17/2024	Common Stock	225000 ⁽⁴⁾		225000	I	Held by Ravich Defined Benefit Plan
Warrants	⁽³⁾							12/17/2019	12/17/2024	Common Stock	225000 ⁽⁴⁾		225000	I	Held by Ravich Children Permanent Trust
Warrants	⁽³⁾							12/17/2019	12/17/2024	Common Stock	555000 ⁽⁴⁾		555000	I	Held by Libra Securities Holdings, LLC

Explanation of Responses:
(1)	On July 30, 2019, Libra Securities Holdings, LLC ("Libra") and ALJ Regional Holdings, Inc. (the "Issuer") entered into agreements under which Libra invested $1,728,000 in the Issuer and received 960,000 shares of the Issuer's common stock and a warrant to purchase 319,680 shares of the Issuer's common stock at an exercise price of $1.80 per share.
(2)	On July 30, 2019, Jess Ravich, through his pension plan (the "Pension Plan"), entered into agreements with the Issuer under which the Pension Plan invested $1,080,000 in the Issuer and received 600,000 shares of the Issuer's common stock and a warrant to purchase 199,800 shares of the Issuer's common stock at an exercise price of $1.80 per share.
(3)	The warrants are exercisable at a price equal to the lower of $1.20 or the 30 business day trailing average of the closing price of the Issuer's common stock on the six month anniversary of the date such warrant is first exercisable.
(4)	The warrants were issued in consideration of such entity purchasing its pro rata portion of $4.1 million of junior participation interests in the Issuer's term loan facility.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
RAVICH JESS M 244 MADISON AVENUE, PMB #358 NEW YORK, NY 10016	X	X	Chief Executive Officer