Page 10 of 14 – SEC Filing
proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Companys business or corporate structure; (g) changes in the Companys charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange, if any, or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Act, or (j) any action similar to any of those enumerated in items (a) through (i) above.
Item 5. Interest in Securities of the Issuer
The following disclosure of share ownership by the Reporting Persons is as of the date of this Amendment No. 39 to Schedule 13D.
A. Tontine Capital Partners, L.P.
(a) Aggregate number of shares beneficially owned: 558,698. Percentage: 3.3%. The percentages used herein and in the rest of Item 5 are calculated based upon 16,824,672 shares of Common Stock issued and outstanding as of July 21, 2017, as reflected in the Quarterly Report on Form 10-Q filed by the Company on August 3, 2017.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 558,698
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 558,698
(c) Cantor has sold a total of 75,000 shares of Common Stock on TCPs behalf pursuant to the 10b5-1 Plan in the last 60 days. Please see the table in Item 4 for a description of such transactions.
(d) TCM, the general partner of TCP, has the power to direct the affairs of TCP, including decisions respecting the receipt of dividends from, and the disposition of the proceeds from the sale of, the shares. Mr. Gendell is the Managing Member of TCM and in that capacity directs its operations.
(e) Not applicable.
B. Tontine Capital Management, L.L.C.
(a) Aggregate number of shares beneficially owned: 699,080. Percentage: 4.2%.
(b) 1. Sole power to vote or direct vote: 140,382
2. Shared power to vote or direct vote: 558,698
3. Sole power to dispose or direct the disposition: 140,382
4. Shared power to dispose or direct the disposition: 558,698
(c) TCM has not engaged in any transactions in Common Stock in the last 60 days. Cantor has sold a total of 75,000 shares of Common Stock on TCPs behalf pursuant to the 10b5-1 Plan in the last 60 days. Please see the table in Item 4 for a description of such transactions.
(d) Mr. Gendell is the Managing Member of TCM and in that capacity directs its operations.
(e) Not applicable.
C. Tontine Capital Overseas Master Fund II, L.P.
(a) Aggregate number of shares beneficially owned: -0-. Percentage: 0.0%.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: -0-
3. Sole power to dispose or direct the disposition: -0-
10
