Page 9 of 12 – SEC Filing
CUSIP No. 00439T206 SCHEDULE 13D Page 9 of 12
(f) The citizenship or place of organization for each of the Reporting Persons is listed in Row 6 of the cover pages hereto.
Item 3. Source and Amount of Funds or Other Consideration.
The source and amount of funds used in purchasing the Common Stock by the Reporting Persons and a separate account investment advisory client of CCM (the
Separate Account) were as follows:
Purchaser
Source of Funds
Amount CCP
Working Capital $ 14,690,665.99 CCP2
Working Capital $ 4,260,988.36 Separate Account
Working Capital $ 7,321,456.26
Item 4. Purpose of Transaction.
The Reporting Persons acquired the Common Stock for investment purposes in the Reporting Persons ordinary course of business. In addition, the Reporting
Persons collectively beneficially own $52,508,000 in principal amount of the Issuers 9.5% first lien bonds (the Bonds and, together with the Common Stock, the Securities) for investment purposes in the ordinary course
of the Reporting Persons business. In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise deal in the Securities at times, and in such manner (including pursuant to hedging
transactions), as they deem advisable to benefit from changes in market prices of the Securities, changes in the Issuers operations, business strategy or prospects, or from a sale or merger of the Issuer. To evaluate such alternatives, the
Reporting Persons routinely will monitor the Issuers operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as alternative investment
opportunities, liquidity requirements of the Reporting Persons and other investment considerations. Consistent with their investment research methods and evaluation criteria, the Reporting Persons may discuss such matters with management or
directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and discussions may materially
affect, and result in, the Reporting Persons modifying their ownership of the Securities, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes in the Issuers operations,
governance or capitalization, or in proposing one or more of the other actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right to formulate other plans and/or make other
proposals and take such actions with respect to their investment in the Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional Securities or dispose of all
Securities beneficially owned by them, in public market or privately negotiated transactions. The Reporting Persons may at any time reconsider and change their plans or proposals relating to the foregoing.
Item 5. Interest in Securities of the Issuer.
(a) (b) The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated herein by reference. The percentages set forth in Row 13
for all cover pages filed herewith are calculated based upon 48,244,674 Common Stock outstanding as of April 28, 2016, as reported in the Issuers Quarterly Report on Form 10-Q, as filed with the SEC on May 3, 2016.
| CUSIP No. 00439T206 | SCHEDULE 13D | Page 9 of 12 |
| (f) | The citizenship or place of organization for each of the Reporting Persons is listed in Row 6 of the cover pages hereto. |
Item 3. Source and Amount of Funds or Other Consideration.
The source and amount of funds used in purchasing the Common Stock by the Reporting Persons and a separate account investment advisory client of CCM (the
Separate Account) were as follows:
| Purchaser | Source of Funds | Amount | ||||
| CCP | Working Capital | $ | 14,690,665.99 | |||
| CCP2 | Working Capital | $ | 4,260,988.36 | |||
| Separate Account | Working Capital | $ | 7,321,456.26 | |||
Item 4. Purpose of Transaction.
The Reporting Persons acquired the Common Stock for investment purposes in the Reporting Persons ordinary course of business. In addition, the Reporting
Persons collectively beneficially own $52,508,000 in principal amount of the Issuers 9.5% first lien bonds (the Bonds and, together with the Common Stock, the Securities) for investment purposes in the ordinary course
of the Reporting Persons business. In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise deal in the Securities at times, and in such manner (including pursuant to hedging
transactions), as they deem advisable to benefit from changes in market prices of the Securities, changes in the Issuers operations, business strategy or prospects, or from a sale or merger of the Issuer. To evaluate such alternatives, the
Reporting Persons routinely will monitor the Issuers operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as alternative investment
opportunities, liquidity requirements of the Reporting Persons and other investment considerations. Consistent with their investment research methods and evaluation criteria, the Reporting Persons may discuss such matters with management or
directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and discussions may materially
affect, and result in, the Reporting Persons modifying their ownership of the Securities, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes in the Issuers operations,
governance or capitalization, or in proposing one or more of the other actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right to formulate other plans and/or make other
proposals and take such actions with respect to their investment in the Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional Securities or dispose of all
Securities beneficially owned by them, in public market or privately negotiated transactions. The Reporting Persons may at any time reconsider and change their plans or proposals relating to the foregoing.
Item 5. Interest in Securities of the Issuer.
| (a) (b) | The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated herein by reference. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 48,244,674 Common Stock outstanding as of April 28, 2016, as reported in the Issuers Quarterly Report on Form 10-Q, as filed with the SEC on May 3, 2016. |
