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)
Code V Amount (A) or (D) Price
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 Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
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
Director10% OwnerOfficerOther
RAVICH JESS M
244 MADISON AVENUE, PMB #358
NEW YORK, NY 10016
XXChief Executive Officer

Signatures
/s/ Christopher Forrester, by Power of Attorney3/16/2020
**Signature of Reporting PersonDate

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