Page 7 of 9 – SEC Filing
This Amendment No. 1 (this Amendment) amends and supplements the Schedule 13D (the Schedule 13D) filed October 24, 2016, by and on behalf of P2 Capital Master Fund I, L.P., a Cayman Islands exempted limited partnership (Master Fund I), P2 Capital Master Fund VI, L.P., a Delaware limited partnership (Master Fund VI), P2 Capital Master Fund XII, L.P., a Delaware limited partnership (Master Fund XII and, together with Master Fund I and Master Fund VI, the Funds), P2 Capital Partners, LLC, a Delaware limited liability company (the Manager) and Claus Moller, a citizen of Denmark (all the preceding persons are the Reporting Persons). Information reported in the Schedule 13D remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment. Capitalized terms used herein but not otherwise defined in this Amendment shall have the meaning ascribed to them in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and replaced by the following:
The source of funds for the purchases of the Shares reported on herein was cash on hand and the general working capital of the respective purchasers, which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business.
Item 5. Interest in Securities of Issuer.
Item 5 is hereby amended and replaced by the following:
(a), (b): The responses of the Reporting Persons to Rows (7) through (13) of the cover pages of this Statement on Schedule 13D are incorporated herein by reference. As of the close of business on March 21, 2017, Master Fund I beneficially owned an aggregate of 0 Shares, representing 0.0% of the outstanding Shares, Master Fund VI beneficially owned an aggregate of 0 Shares, representing 0.0% of the outstanding Shares, and Master Fund XII beneficially owned an aggregate of 0 Shares, representing 0.0% of the outstanding Shares. As of the close of business on March 21, 2017, each of the Manager and Mr. Moller may be deemed to beneficially own 0 Shares of Common Stock, in the aggregate, which represented 0.0% of the outstanding Shares. All percentages set forth in this paragraph are based on 31,499,246 Shares of Common Stock outstanding (as of February 27, 2017), which number of Shares of Common Stock is based upon the number of shares of Common Stock reported in the Issuers Report on Form 10-K filed on March 1, 2017 for the fiscal year ended December 31, 2016.
Each of the Reporting Persons owns less than 5.0% of the outstanding Shares and therefore the Reporting Persons are no longer required to file amendments to this 13D.
For purposes of disclosing the number of Shares beneficially owned by each of the Reporting Persons, the Manager, as investment manager of the Funds, and Mr. Moller, as managing member of the Manager, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) all Shares that are owned beneficially and directly by the Funds.
(c) Except as set forth above or in Schedule I, no Reporting Person has effected any transaction in the Shares during the 60 days preceding the date hereof.
(d) Not applicable.
(e) Not applicable.
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