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13D Filing: Sundara Investment Partners, Llc and Jetpay Corp (NASDAQ:JTPY)

Published on March 30, 2017 at 2:41 pm by Insider Monkey Staff in Hedge Funds
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Page 3 of 6 – SEC Filing

Page
3
of 6 Pages

CUSIP No.
913344103

 13D
  1 

NAME
OF REPORTING PERSONS

Laurence L. Stone
  2

CHECK THE APPROPRIATE BOX IF A
MEMBER OF A GROUP*

(a)  ☒  (1)        (b)  ☐
  3

SEC USE ONLY
  4

SOURCE OF FUNDS*

PF
  5

CHECK BOX IF DISCLOSURE OF
LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)  ☐
  6

CITIZENSHIP OR PLACE OF
ORGANIZATION

UNITED STATES

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH

   7 

SOLE VOTING POWER

13,300
  8

SHARED VOTING POWER

5,129,559 shares of Common Stock, including 4,279,703 shares of Common Stock issuable
upon conversion of 33,667 shares of Series A Preferred Stock (2)
  9

SOLE DISPOSITIVE POWER

13,300
10

SHARED DISPOSITIVE POWER

5,129,559 shares of Common Stock, including 4,279,703 shares of Common Stock issuable
upon conversion of 33,667 shares of Series A Preferred Stock (2)
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,142,859 shares of Common Stock, including 4,279,703 shares of Common Stock issuable upon conversion of 33,667 shares of Series A Preferred
Stock
12

CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (11) EXCLUDES CERTAIN SHARES*  ☐
13

PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)

25.9% (3)(4)
14

TYPE OF REPORTING PERSON*

IN
(1) Box A is checked with respect to the relationship of the Reporting Persons and Flexpoint, as described in Item 4 and footnote (4) below.
(2) Includes (i) 4,279,703 shares of Common Stock issuable upon conversion of the Series A Preferred Stock owned by Sundara, of which Mr. Stone is the managing member, (ii) 125,000 shares of Common Stock owned by LHLJ,
Inc., a Delaware corporation of which Mr. Stone is the sole stockholder, (iii) 388,573 shares of Common Stock owned by Main Line Trading Partners, LLC, a Delaware limited liability company of which Mr. Stone is a managing member and owner of
substantially all of the equity interests and (iv) 336,283 shares of Common Stock owned by The Stone Family Trust, an irrevocable trust for the benefit of Mr. Stones children, of which his wife serves as a trustee.
(3) The calculation of the foregoing percentage is based on an aggregate of 19,868,687 shares of Common Stock outstanding, consisting of 15,588,984 shares of Common Stock outstanding as of March 21, 2017, as reported in the
2016 10-K, plus an additional 4,279,703 shares of Common Stock issuable upon conversion of the Series A Preferred Stock beneficially owned by the Reporting Person.
(4) As a result of the entry by Sundara, of which Mr. Stone is the managing member, into the Amended and Restated Securities Purchase Agreement described in Item 4, the Reporting Persons may be deemed to be the beneficial
owners of the shares of Series A Preferred Stock owned by Flexpoint and the shares of Common Stock into which such shares of Series A Preferred Stock owned by Flexpoint may be converted; however, the Reporting Persons disclaim beneficial ownership
of all securities owned by Flexpoint. Based on information provided to the Reporting Persons, Flexpoint beneficially owns 99,666 shares of Series A Preferred Stock, which are convertible into 12,669,407 shares of Common Stock.

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