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13D Filing: Elliott Associates, L.p. and Commvault Systems Inc (NASDAQ:CVLT)

Published on February 25, 2019 at 11:19 am by Insider Monkey Staff in Hedge Funds

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Page 5 of 9 – SEC Filing

The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 3“). This Amendment No. 3 amends the Schedule 13D as specifically set forth herein.

Item 3.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3 of the Schedule 13D is hereby amended and restated as follows:

Elliott Working Capital	The aggregate purchase price of the shares of Common Stock directly owned by Elliott is approximately $28,729,013. The aggregate purchase price of the Physical Derivative Agreements owned by Elliott is approximately $2,776,680.
Elliott International Working Capital	The aggregate purchase price of the shares of Common Stock directly owned by Elliott International is approximately $61,049,214. The aggregate purchase price of Physical Derivative Agreements owned by Elliott International is approximately $5,900,018.

The Reporting Persons may effect purchases of the shares of Common Stock through margin accounts maintained for them with prime brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms’ credit policies. Positions in the shares of Common Stock may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase the shares of Common Stock.

Item 4.

PURPOSE OF TRANSACTION

Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:

The Reporting Persons are pleased with the operational, financial, governance and strategic progress achieved at the Issuer over the last year. This includes the Issuer’s hiring of a new Chief Executive Officer, enhancements to its Board of Directors and significant product, operational and margin improvement initiatives. With the Issuer’s share price appreciating meaningfully from the Reporting Persons’ cost basis, the Reporting Persons have reduced their position in the Issuer but remain one of the Issuer’s largest shareholders.

Item 5.

INTEREST IN SECURITIES OF THE ISSUER

Item 5(a), (c) and (e) of the Schedule 13D are hereby amended and restated as follows:

(a) As of the date hereof, Elliott, Elliott International and EICA collectively have beneficial ownership of 1,847,678
shares of Common Stock constituting approximately 4.0% of the shares of Common Stock outstanding and combined economic exposure
in the Issuer equivalent to 2,503,063 shares of Common Stock constituting approximately 5.5% of the shares of Common Stock outstanding.

The aggregate percentage of the Common Stock reported owned by each person named herein is based upon 45,896,602
shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as of January 25, 2019 as reported
in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2018, filed with the Securities and Exchange
Commission (the “SEC“) on January 29, 2019.

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NASDAQ:CVLT SEC 13D Filing Elliott Associates L.P.CommVault Systems Inc. (NASDAQ:CVLT)