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13G Filing: DG Capital Management and Aware Inc (AWRE)

Published on April 12, 2017 at 10:37 am by Insider Monkey Staff in Hedge Funds

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
DG Capital Management 0 1,120,425 0 1,120,425 1,120,425 5.04%
Dov Gertzulin 0 1,120,425 0 1,120,425 1,120,425 5.04%

Follow Dov N. Gertzulin's DG Capital Management

Page 1 of 8 – SEC Filing

 

 

 

UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

WASHINGTON,
DC 20549

 

SCHEDULE
13G

 

Under
the Securities Exchange Act of 1934

(Amendment No. 4)*

 

Aware,
Inc.

 

Common
Stock

 

(Title
of Class of

Securities)

 

05453N100

 

(CUSIP
Number)

 

April
5, 2017

 

(Date
of Event Which Requires Filing of this

Statement)

 

Check
the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

[  ]
Rule 13d-1(b)

 

[X]
Rule 13d-1(c)

 

[  ]
Rule 13d-1(d)

 

 

*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided
in a prior cover page.

 

The
information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section
18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

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Page 2 of 8 – SEC Filing

 

CUSIP No. 05453N100

 

1.
 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
  DG Capital Management, LLC
   
2.
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
  (a)  [  ]
  (b) [X]
   
3.
 SEC USE ONLY
   
   
4. CITIZENSHIP OR PLACE OF ORGANIZATION
   
 

Delaware, USA

 

NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

 

5. SOLE VOTING POWER
   
  0
   
6. SHARED VOTING POWER
   
  1,120,425*
   
7. SOLE DISPOSITIVE
POWER
   
  0
   
8. SHARED DISPOSITIVE
POWER
   
  1,120,425*
   
9. AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,120,425*
   
10. CHECK BOX IF THE
AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
  [  ]
   
11. PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (9)
   
  5.04%*
   
12. TYPE OF REPORTING
PERSON (SEE INSTRUCTIONS)
   
  IA

 

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Page 3 of 8 – SEC Filing

 

CUSIP No. 05453N100

 

1. NAME OF REPORTING
PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
 

Dov
Gertzulin
   
2. CHECK THE APPROPRIATE
BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)  [  ]
  (b) [X]
   
3. SEC USE ONLY
   
   
4. CITIZENSHIP OR PLACE
OF ORGANIZATION
   
  United States

 

NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

 

5. SOLE VOTING POWER
   
  0
   
6. SHARED VOTING POWER
   
  1,120,425*
   
7. SOLE DISPOSITIVE
POWER
   
  0
   
8. SHARED DISPOSITIVE
POWER
   
  1,120,425*
   
9. AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,120,425*
   
10. CHECK BOX IF THE
AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
11. PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (9)
   
  5.04%*
   
12. TYPE OF REPORTING
PERSON (SEE INSTRUCTIONS)
   
  IN, HC

 

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Page 4 of 8 – SEC Filing

 

Item 1. (a). Name of Issuer:
     
   

Aware, Inc.
     
  (b). Address of issuer’s principal executive
offices:
     
   

40 Middlesex Turnpike
   

Bedford, Massachusetts 01730
     
Item 2. (a). Name of person filing:
     
   

DG Capital Management, LLC
   

Dov Gertzulin
     
  (b). Address or principal business office or, if
none, residence:
     
   

460
Park Avenue, 22nd Floor

New
York, NY 10022
     
  (c). Citizenship:
     
   

DG Capital Management, LLC – Delaware,
USA
   

Dov Gertzulin – United States
     
  (d). Title of class of securities:
     
    Common Units
     
  (e). CUSIP No.: 05453N100

 

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Page 5 of 8 – SEC Filing

 

Item
3.

If
This Statement is filed pursuant to §§.240.13d-1(b) or 240.13d-2(b), or (c),
check whether the person filing is a:
   
  N/A
   
Item
4.		 Ownership.
   
  Provide
the following information regarding the aggregate number and percentage of the class of securities of the issuer identified
in Item 1.

 

  (a)

Amount
beneficially owned*:
     
   

DG
Capital Management, LLC: 1,120,425
    Dov
Gertzulin – 1,120,425
     
  (b) Percent
of class:
     
   

DG
Capital Management, LLC: 5.04%
   

Dov
Gertzulin: 5.04%
     
  (c) Number
of shares as to which the person has:

 

  (i) Sole
power to vote or to direct the vote
     
   

DG
Capital Management, LLC: 0
   

Dov
Gertzulin: 0
     
  (ii) Shared
power to vote or to direct the vote
     
   

DG
Capital Management, LLC: 1,120,425
   

Dov
Gertzulin: 1,120,425
     
  (iii) Sole
power to dispose or to direct the disposition of
     
   

DG
Capital Management, LLC: 0
   

Dov
Gertzulin: 0
     
  (iv) Shared
power to dispose or to direct the disposition of
     
   

DG
Capital Management, LLC: 1,120,425
   

Dov
Gertzulin: 1,120,425

 

*Shares
reported herein are held by private investment funds and separately managed accounts (the “DG Entities”) for which
DG Capital Management, LLC serves as the investment manager. Dov Gertzulin serves as the managing member of DG Capital Management,
LLC. By virtue of these relationships, the Reporting Persons may be deemed to have shared voting and dispositive power with respect
to the Shares owned directly by the DG Entities. This report shall not be deemed an admission that the Reporting Persons are beneficial
owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Each of the Reporting Persons disclaims beneficial ownership of the Shares reported herein except to the extent of the Reporting
Person’s pecuniary interest therein.

 

The percentages
herein are calculated based upon a statement in the Issuer’s Annual Report on Form 10-K for the quarter ended December 31,
2016 that there were 22,431,324 shares of Common Stock issued and outstanding as of February 3, 2017, and subsequent Form 8-K
dated March 9, 2017 indicating the Issuer’s purchase of 210,000 shares of the Issuer’s Common Stock, resulting in
22,221,324 shares of Common Stock issued and outstanding as of March 9, 2017.

 

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Page 6 of 8 – SEC Filing

 

Item
5.		 Ownership
of Five Percent or Less of a Class.
   
  If
this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check the following [  ].
 
   
Item
6.		 Ownership
of More Than Five Percent on Behalf of Another Person.
   
 

If
any other person is known to have the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, such securities, a statement to
that effect should be included in response to this item and, if such interest relates
to more than five percent of the class, such person should be identified. A listing of
the shareholders of an investment company registered under the Investment Company Act
of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund
is not required.
   
  N/A
   
Item
7.

If
a parent holding company or control person has filed this schedule, pursuant to Rule
13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity
and the Item 3 classification of the relevant subsidiary. If a parent holding company
or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d),
attach an exhibit stating the identification of the relevant subsidiary.
   
N/A
   
Item
8.		 Identification
and Classification of Members of the Group.
   
 

If
a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate
under Item 3(j) and attach an exhibit stating the identity and Item 3 classification
of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c)
or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group.
   
N/A
   
Item
9.		 Notice
of Dissolution of Group.
   
 

Notice
of dissolution of a group may be furnished as an exhibit stating the date of the dissolution
and that all further filings with respect to transactions in the security reported on
will be filed, if required, by members of the group, in their individual capacity. See
Item 5.
   
N/A
   
Item
10.		 Certification.
   
 

By
signing below I certify that, to the best of my knowledge and belief, the securities
referred to above were acquired and are held in the ordinary course of business and were
not acquired and are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or effect.

 

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Page 7 of 8 – SEC Filing

 

SIGNATURE

 

After
reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.

 

Dated: April 12, 2017

 DG Capital Management, LLC
     
  By:

/s/
Dov Gertzulin
   

Dov Gertzulin, Managing Member
     
  Dov Gertzulin
     
  By:

/s/
Dov Gertzulin
   

Dov Gertzulin, Individually

 

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Page 8 of 8 – SEC Filing

 

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