13D Filing: Privet Fund Lp and Synalloy Corp (NASDAQ:SYNL)

Reference is hereby
made to the statement on Schedule 13D filed with the Securities and Exchange Commission on September 19, 2016, as amended on March
20, 2017 (the “Schedule 13D”), with respect to the Common Stock, par value $1.00 per share (the “Common
Stock”), of Synalloy Corporation, a Delaware corporation (the “Corporation”). Capitalized terms not
otherwise defined herein are used as defined in the Schedule 13D. The Reporting Persons hereby amend and supplement the Schedule
13D as follows.

Item 3.     Source and Amount of Funds or Other Consideration.

Item 3 is hereby amended and restated in its entirety to
read as follows:

The aggregate purchase price of the 948,997
shares of Common Stock beneficially owned by the Reporting Persons is approximately $8,630,124.18 not including brokerage commissions,
which was funded with partnership funds of Privet Fund LP. Privet Fund LP effects purchases of securities primarily through margin
accounts maintained for it with prime brokers, which may extend margin credit to it as and when required to open or carry positions
in the margin accounts, subject to applicable federal margin regulations, stock exchange rules, and the prime brokers’ credit
policies.

Item 5.     Interest in Securities
of the Issuer.

Items 5(a) and 5(c)
are hereby amended and restated in their entirety to read as follows:

(a) As of the date
of this filing, the Reporting Persons beneficially own 948,997 shares (the “Shares”), or approximately
10.9%, of the outstanding Common Stock of the Corporation (calculated based on information included in the Form 10-K filed by the
Corporation for the fiscal year ended December 31, 2016, which reported that 8,678,622 shares of Common Stock were outstanding
as of March 10, 2017).

(c) Except as set forth on Schedule 1 hereto, no
transactions in the Common Stock were effected during the past 60 days by the Reporting Persons, or, to the best of the knowledge
of the Reporting Persons, by any of the other persons named in response to Item 2, if any.