13D Filing: Corre Partners Management, LLC and AM Castle & Co (CASLQ)

(a, b) The responses of each Reporting Person to Items 7 through 11 of the cover pages of this Schedule 13D relating to beneficial ownership of the shares of Common Stock are incorporated herein by reference.

As of the date hereof, Qualified Master Fund may be deemed to be the beneficial owner of 139,973 shares of Common Stock, constituting 3.7% of the Issuer’s shares of Common Stock (assuming there is a total of 3,734,385 shares of Common Stock of the Issuer outstanding (including grants made under the Issuer’s Management Incentive Plan)).

Qualified Master Fund has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 139,973 shares; has the sole power to dispose or direct the disposition of 0 shares; and has the shared power to dispose or direct the disposition of 139,973 shares.

As of the date hereof, COII Master Fund may be deemed to be the beneficial owner of 74,046 shares of Common Stock, constituting 2.0% of the Issuer’s shares of Common Stock (assuming there is a total of 3,734,385 shares of Common Stock of the Issuer outstanding (including grants made under the Issuer’s Management Incentive Plan)).

COII Master Fund has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 74,046 shares; has the sole power to dispose or direct the disposition of 0 shares; and has the shared power to dispose or direct the disposition of 74,046 shares.

As of the date hereof, the Fund may be deemed to be the beneficial owner of 20,535 shares of Common Stock, constituting 0.5% of the Issuer’s shares of Common Stock (assuming there is a total of 3,734,385 shares of Common Stock of the Issuer outstanding (including grants made under the Issuer’s Management Incentive Plan)).

The Fund has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 20,535 shares; has the sole power to dispose or direct the disposition of 0 shares; and has the shared power to dispose or direct the disposition of 20,535 shares.

As of the date hereof, the General Partner, the Investment Adviser, Mr. John Barrett and Mr. Eric Soderlund may be deemed to be the beneficial owner of 234,554 shares of Common Stock, constituting 6.3% of the Issuer’s shares of Common Stock (assuming there is a total of 3,734,385 shares of Common Stock of the Issuer outstanding (including grants made under the Issuer’s Management Incentive Plan)).

The General Partner, the Investment Adviser, Mr. John Barrett and Mr. Eric Soderlund have the sole power to vote or direct the vote of 0 shares of Common Stock; have the shared power to vote or direct the vote of 234,554 shares; has the sole power to dispose or direct the disposition of 0 shares; and has the shared power to dispose or direct the disposition of 234,554 shares.

Because of the relationship between the Reporting Persons and the other stockholders of the Issuer party to the Stockholders Agreement, the Reporting Persons may be deemed, pursuant to Rule 13d-3 under the Act, to beneficially own a total of 3,156,383 shares of Common Stock, which represents the aggregate number of shares of Common Stock beneficially owned by the parties to the Stockholders Agreement. 3,156,383 shares of Common Stock represents 84.5% of the total number of shares of Common Stock (assuming there is a total of 3,734,385 shares of Common Stock of the Issuer outstanding (including grants made under the Issuer’s Management Incentive Plan)).

(c) During the past 60 days, the Reporting Persons sold (i) 5,000 shares of Old Common Stock at an average price of $0.13 per share on August 8, 2017, (ii) 15,700 shares of Old Common Stock at an average price of $0.118 per share on August 15, 2017, (iii) 3,000 shares of Old Common Stock at an average price of $0.125 per share on August 16, 2017 and (iv) 64,000 shares of Old Common Stock at an average price of $0.1301 per share on August 31, 2017.

Except for the transactions described herein, there have been no other transactions in the securities of the Issuer effected by the Reporting Persons within the last 60 days.

(d) Not applicable.

(e) Not applicable.