Page 15 of 17 – SEC Filing
| H. | Jason Mudrick |
| (a) | Mr. Mudrick, as the sole member of MCM GP, may be deemed to beneficially own the 5,218,411 Shares beneficially owned by MCM, including 126,138 Shares that are issuable upon exercise of warrants. |
Percentage: Approximately
15.3%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 5,218,411 (including warrants) 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 5,218,411 (including warrants) |
| (c) | Mr. Mudrick has not entered into any transactions in the Shares during the past 60 days. |
The filing of this
Schedule 13D shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities
Exchange Act of 1934, as amended, the beneficial owners of any of the Shares reported herein. Each Reporting Person disclaims beneficial
ownership of such Shares except to the extent of his or its pecuniary interest therein.
| (d) | No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares. |
| (e) | Not applicable. |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. |
As noted in Item 3
above, in connection with the Issuer’s emergence from bankruptcy, certain of the Reporting Persons received 126,138 warrants
to purchase Shares in exchange for certain debt that they had owned. The warrants are governed by a warrant agreement by and among
the Issuer, Computershare Inc. and its wholly owned subsidiary, Computershare Trust Company N.A., collectively as warrant agent
(the “Warrant Agreement”). Each warrant has a seven year term, expiring on July 15, 2023, and has an initial exercise
price of $27.86 per Share. The Warrant Agreement contains customary anti-dilution adjustments in the event of any stock split,
reverse stock split, reclassification, stock dividend or other distributions. In addition, the Warrant Agreement provides for anti-dilution
adjustments in the event of below market stock issuances at less than 95% of the average closing price of the Shares for the 10
consecutive trading days immediately prior to the applicable determination date, and for pro rata repurchases of Shares. The description
of the Warrant Agreement is qualified in its entirety by reference to the full text of the Warrant Agreement, which is incorporated
by reference herein as Exhibit 99.1.
On September 18, 2017,
the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf
of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable
law. The Joint Filing Agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
Other than as described
herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting
Persons and any other person, with respect to the securities of the Issuer.
| Item 7. | Material to be Filed as Exhibits. |
| 99.1 | Warrant Agreement (incorporated by reference from Exhibit 10.4 to the Issuer’s Current Report on Form 8-K filed with the SEC on July 19, 2016) |
| 99.2 | Joint Filing Agreement |
| 15 |
