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 |
|---|---|---|---|---|---|---|
| Tappan Street Partners | 0 | 2,231,577 | 0 | 2,231,577 | 2,231,577 | 4.95% |
| Tappan Street Partners Fund | 0 | 1,540,000 | 0 | 1,540,000 | 1,540,000 | 3.42% |
| Tappan Street Partners Ideas Fund | 0 | 691,577 | 0 | 691,577 | 691,577 | 1.53% |
| Prasad Phatak | 67,107 | 2,231,577 | 67,107 | 2,231,577 | 2,298,684 | 5.10% |
Follow Prasad Phatak And Chris Koranda's Tappan Street Partners
Page 1 of 9 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under
the Securities Exchange Act of 1934*
(Amendment
No. 1)
| Peregrine Pharmaceuticals, Inc. |
| (Name
|
| Common Stock ($0.001 par value) |
| (Title
|
| 713661502 |
| (CUSIP
|
| July 11, 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) | |
| ☒ | 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).
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 2 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 2 of 9 |
| 1 | NAME
I.R.S. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP Delaware, | |||
| NUMBER BENEFICIALLY EACH PERSON | 5 | SOLE 0 | ||
| 6 | SHARED 2,231,577* | |||
| 7 | SOLE 0 | |||
| 8 | SHARED 2,231,577* | |||
| 9 | AGGREGATE 2,231,577 | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT 4.95%† | |||
| 12 | TYPE IA | |||
*
Tappan Street Partners LLC is the investment manager of the Tappan Street Partners Fund L.P. (the “Fund”) and the
Tappan Street Partners Ideas Fund L.P. (the “Ideas Fund” and together with the Fund, the “Funds”) in which
such shares referred to above are held. As a result, Tappan Street Partners LLC possesses the power to vote and dispose or direct
the disposition of all the shares owned by the Funds. Thus, Tappan Street Partners LLC may be deemed to beneficially own a total
of 2,231,577 shares.
†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 3 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 3 of 9 |
| 1 | NAME
I.R.S. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP Delaware, | |||
| NUMBER BENEFICIALLY EACH PERSON | 5 | SOLE 0 | ||
| 6 | SHARED 1,540,000 | |||
| 7 | SOLE 0 | |||
| 8 | SHARED 1,540,000 | |||
| 9 | AGGREGATE 1,540,000 | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT 3.42%† | |||
| 12 | TYPE PN | |||
†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 4 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 4 of 9 |
| 1 | NAME Tappan
I.R.S. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP Delaware, | |||
| NUMBER BENEFICIALLY EACH PERSON | 5 | SOLE 0 | ||
| 6 | SHARED 691,577 | |||
| 7 | SOLE 0 | |||
| 8 | SHARED 691,577 | |||
| 9 | AGGREGATE 691,577 | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT 1.53%† | |||
| 12 | TYPE PN | |||
†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 5 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 5 of 9 |
| 1 | NAME
I.R.S. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP United | |||
| NUMBER BENEFICIALLY EACH PERSON | 5 | SOLE 67,107 | ||
| 6 | SHARED 2,231,577* | |||
| 7 | SOLE 67,107 | |||
| 8 | SHARED 2,231,577* | |||
| 9 | AGGREGATE 2,298,684* | |||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES | ☐ | ||
| 11 | PERCENT 5.10%† | |||
| 12 | TYPE IN | |||
*
Mr. Phatak is the managing member of Tappan Street Partners LLC. As a result, Mr. Phatak possesses the power to vote and dispose
or direct the disposition of all the shares beneficially owned by Tappan Street Partners LLC as investment manager to the Funds.
Mr. Phatak disclaims beneficial ownership of any of the shares held by the Funds.
†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 6 of 9 – SEC Filing
| CUSIP No. | 713661502 | Page 6 of 9 |
| Item 1(a). | Name of Issuer: Peregrine Pharmaceuticals, Inc. | ||
| Item 1(b). | Address Tustin, | ||
| Item 2(a). | Name of Person Filing: Tappan Street Partners LLC | ||
| Tappan Street Partners Fund L.P. | |||
| Tappan Street Partners Ideas Fund L.P. | |||
| Prasad Phatak | |||
| Item 2(b). | Address of Principal Business Office or, if None, Residence: | ||
| 33 Irving Place, Third Floor, New York, NY 10003 | |||
| Item 2(c). | Citizenship: Tappan Street Partners, LLC is a Delaware limited liability company. Tappan Street Partners Fund, L.P. is a Delaware limited partnership. Tappan Street Partners Ideas Fund, L.P. is a Delaware limited partnership. Mr. Phatak is a United States citizen. | ||
| Item 2(d). | Title of Class of Securities: Common Stock ($0.001 par value) | ||
| Item 2(e). | CUSIP Number: 731661502 | ||
| 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: | ||
| (a) | ☐ | Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). | |
| (b) | ☐ | Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). | |
| (c) | ☐ | Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). | |
| (d) | ☐ | Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). | |
| (e) | ☐ | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | ☐ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | ☐ | A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); | |
| (h) | ☐ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ☐ | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); | |
| (j) | ☐ | Group, in accordance with §240.13d-1(b)(1)(ii)(J). | |
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 7 of 9 – SEC Filing
| CUSIP No. | 713661502 | Page 7 of 9 |
| 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: Aggregate of all filers—2,298,684 | ||
| Tappan Street Partners LLC —2,231,577 | |||
| Tappan Street Partners Fund L.P. —1,540,000 | |||
| Tappan Street Partners Ideas Fund L.P. —691,577 | |||
| Prasad Phatak—2,298,684* | |||
| (b) | Percent of class: Aggregate of all filers—5.10% | ||
| Tappan Street Partners LLC—4.95% | |||
| Tappan Street Partners Fund L.P.—3.42% | |||
| Tappan Street Partners Ideas Fund L.P. ——1.53% | |||
| Prasad Phatak—5.10%* | |||
| (c) | Number of shares as to which such person has: | ||
| (i) | Sole power to vote or to direct the vote: | ||
| Tappan Street Partners LLC —0 | |||
| Tappan Street Partners Fund L. P. —0 | |||
| Tappan Street Partners Ideas Fund L. P. —0 | |||
| Prasad Phatak—67,107 | |||
| (ii) | Shared power to vote or to direct the vote: | ||
| Tappan Street Partners LLC —2,231,577 | |||
| Tappan Street Partners Fund L. P. —1,540,000 | |||
| Tappan Street Partners Ideas Fund L. P. —691,577 | |||
| Prasad Phatak—2,231,577* | |||
| (iii) | Sole power to dispose or to direct the disposition of | ||
| Tappan Street Partners LLC —0 | |||
| Tappan Street Partners Fund L. P. —0 | |||
| Tappan Street Partners Ideas Fund L. P. —0 | |||
| Prasad Phatak—67,107 | |||
| (iv) | Shared power to dispose or to direct the disposition of: | ||
| Tappan Street Partners LLC —2,231,577 | |||
| Tappan Street Partners Fund L. P. —1,540,000 | |||
| Tappan Street Partners Ideas Fund L. P. —691,577 | |||
| Prasad Phatak—2,231,577* | |||
*Mr.
Phatak is the managing member of Tappan Street Partners LLC. As a result, Mr. Phatak possesses the power to vote and dispose or
direct the disposition of all the shares beneficially owned by Tappan Street Partners LLC as investment manager to the Funds.
Mr. Phatak disclaims beneficial ownership of any of the shares held by the Funds.
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 8 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 8 of 9 |
| 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. |
| Not applicable | |
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
| Not applicable | |
| Item 8. | Identification and Classification of Members of the Group. |
| Not applicable | |
| Item 9. | Notice of Dissolution of Group. |
| Not applicable | |
| Item 10. | Certification. |
By
signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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, other than
activities solely in connection with a nomination under § 240.14a-11.
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.
| Date: | August 14, 2017 |
| Signature: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| TAPPAN Date: August | |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC, investment adviser to Tappan Street Partners Fund L.P. |
| TAPPAN Date: August
| |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC, investment adviser to Tappan Street Partners Ideas Fund L.P. |
| TAPPAN Date: August | |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC |
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Follow Avid Bioservices Inc. (NASDAQ:CDMO)
Page 9 of 9 – SEC Filing
| CUSIP No . | 713661502 | Page 9 of 9 |
EXHIBIT
A
Joint
Filing Agreement
The
Undersigned agree that the statements on Schedule 13G with respect to the common stock of Peregrine Pharmaceuticals, Inc. dated
as of August ___, 2017, is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of them
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
| Date: | August 14, 2017 |
| Signature: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| TAPPAN Date: August | |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC Investment Adviser to Tappan Street Partners Fund L.P. |
| TAPPAN Date: August | |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC Investment Adviser to Tappan Street Partners Ideas Fund L.P. |
| TAPPAN Date: August | |
| By: | /s/ Prasad Phatak |
| Name: | Prasad Phatak |
| Title: | Managing Member of Tappan Street Partners LLC |
