A newly-amended 13D filing with the Securities and Exchange Commission revealed that Nathaniel August‘s Mangrove Partners owns 7.68 million common shares of Atlantic Power Corp (NYSE:AT), which represent 6.4% of the company’s outstanding stock. This shows an increase in the fund’s stake, as it previously held 6.34 million shares according to its 13F filing for the reporting period of June 30.
Atlantic Power is a power generation company with plenty of assets across the U.S. and Canada. Since the beginning of the year, the company’s stock has gained 26.4%. In its financial report for the second quarter of 2016, Atlantic Power reported a loss per share of $0.15 and a net loss of $18.5 million, compared to a loss per share of $0.18, and net income of $14.7 million for the same quarter of the previous year. Recently, TD Securities reiterated its ‘Hold” rating on Atlantic Power’s stock and has a price target of $2.75 on it, 0.23 above the stock’s current price.
At the end of June there were several investors in our database that were bullish on Atlantic Power (NYSE:AT), including David M. Markowitz’s Oskie Capital Management, which held a position valued at $5.36 million, and James Dondero’s Highland Capital Management, with a $400,000 position. While Ken Griffin’s Citadel Investment Group initiated a new position in the company during the quarter valued at $222,000 on June 30, Jim Simons’ Renaissance Technologies decided to dump Atlantic Power (NYSE:AT), selling off its position which had been valued at $121,000 at the end of March.
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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 |
---|---|---|---|---|---|---|
THE MANGROVE PARTNERS MASTER FUND, LTD | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% | ||
THE MANGROVE PARTNERS FUND | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% | ||
MANGROVE PARTNERS FUND (CAYMAN), LTD | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% | ||
MANGROVE PARTNERS | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% | ||
MANGROVE CAPITAL | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% | ||
NATHANIEL AUGUST | 7,679,214 | 7,679,214 | 7,679,214 | 6.4% |
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Page 1 of 12 – SEC Filing
(Name, Address and Telephone Number of Person
Page 2 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON THE MANGROVE PARTNERS MASTER FUND, LTD. | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS WC | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON OO |
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Page 3 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON THE MANGROVE PARTNERS FUND, L.P. | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON PN |
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Page 4 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON MANGROVE PARTNERS FUND (CAYMAN), LTD. | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON OO |
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Page 5 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON MANGROVE PARTNERS | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON OO |
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Page 6 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON MANGROVE CAPITAL | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON OO |
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Page 7 of 12 – SEC Filing
1 | NAME OF REPORTING PERSON NATHANIEL AUGUST | ||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
3 | SEC USE ONLY | ||
4 | SOURCE OF FUNDS AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | |
6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER – 0 – | |
8 | SHARED VOTING POWER 7,679,214 | ||
9 | SOLE DISPOSITIVE POWER – 0 – | ||
10 | SHARED DISPOSITIVE POWER 7,679,214 | ||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,679,214 | ||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | |
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.4% | ||
14 | TYPE OF REPORTING PERSON IN |
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Page 8 of 12 – SEC Filing
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 5. | Interest in Securities of the Issuer. |
A. | Mangrove Master Fund |
| (a) | As of the close of business on August 17, 2016, Mangrove Master Fund directly owned 7,679,214 Shares. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
| (c) | The transactions in the Shares by Mangrove Master Fund during the past sixty (60) days are set forth in Schedule B and are incorporated herein by reference. |
B. | Mangrove Fund |
| (a) | As of the close of business on August 17, 2016, Mangrove Fund, as a controlling shareholder of Mangrove Master Fund, may be deemed to beneficially own the 7,679,214 Shares directly owned by Mangrove Master Fund. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
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Page 9 of 12 – SEC Filing
| (c) | Mangrove Fund has not entered into any transactions in the Shares during the past sixty (60) days. |
C. | Mangrove Fund Cayman |
| (a) | As of the close of business on August 17, 2016, Mangrove Fund Cayman, as a significant shareholder of Mangrove Master Fund, may be deemed to beneficially own the 7,679,214 Shares directly owned by Mangrove Master Fund. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
| (c) | Mangrove Fund Cayman has not entered into any transactions in the Shares during the past sixty (60) days. |
D. | Mangrove Partners |
| (a) | As of the close of business on August 17, 2016, Mangrove Partners, as the investment manager of each of Mangrove Master Fund, Mangrove Fund and Mangrove Fund Cayman, may be deemed to beneficially own the 7,679,214 Shares directly owned by Mangrove Master Fund. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
| (c) | Mangrove Partners has not entered into any transactions in the Shares during the past sixty (60) days. |
E. | Mangrove Capital |
| (a) | As of the close of business on August 17, 2016, Mangrove Capital, as the general partner of Mangrove Fund, may be deemed to beneficially own the 7,679,214 Shares directly owned by Mangrove Master Fund. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
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Page 10 of 12 – SEC Filing
| (c) | Mangrove Capital has not entered into any transactions in the Shares during the past sixty (60) days. |
F. | Nathaniel August |
| (a) | As of the close of business on August 17, 2016, Mr. August did not directly own any Shares. As a director of each of Mangrove Partners and Mangrove Capital, Mr. August may be deemed to beneficially own the 7,679,214 Shares directly owned by Mangrove Master Fund. |
| (b) | 1. Sole power to vote or direct vote: 0 |
| 2. Shared power to vote or direct vote: 7,679,214 |
| 3. Sole power to dispose or direct the disposition: 0 |
| 4. Shared power to dispose or direct the disposition: 7,679,214 |
| (c) | Mr. August has not entered into any transactions in the Shares during the past sixty (60) days. |
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Page 11 of 12 – SEC Filing
THE MANGROVE PARTNERS MASTER FUND, LTD. | |||
By: | MANGROVE PARTNERS | ||
as Investment Manager | |||
By: | /s/ Nathaniel August | ||
Name: | Nathaniel August | ||
Title: | Director |
THE MANGROVE PARTNERS FUND, L.P. | |||
By: | MANGROVE CAPITAL | ||
as General Partner | |||
By: | /s/ Nathaniel August | ||
Name: | Nathaniel August | ||
Title: | Director |
MANGROVE PARTNERS FUND (CAYMAN), LTD. | |||
By: | MANGROVE PARTNERS | ||
as Investment Manager | |||
By: | /s/ Nathaniel August | ||
Name: | Nathaniel August | ||
Title: | Director |
MANGROVE PARTNERS | |||
By: | /s/ Nathaniel August | ||
Name: | Nathaniel August | ||
Title: | Director |
MANGROVE CAPITAL | |||
By: | /s/ Nathaniel August | ||
Name: | Nathaniel August | ||
Title: | Director |
/s/ Nathaniel August | |
NATHANIEL AUGUST |
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Page 12 of 12 – SEC Filing
Shares of Common Stock Purchased | Price Per Share ($) | Date of Purchase |
23,437 | 2.4887 | 07/01/2016 |
3,435 | 2.4914 | 07/05/2016 |
50,000 | 2.5059 | 07/08/2016 |
69,000 | 2.5261 | 07/12/2016 |
53,500 | 2.4978 | 07/13/2016 |
50,000 | 2.5040 | 07/14/2016 |
33,507 | 2.5078 | 07/14/2016 |
43,156 | 2.4774 | 07/15/2016 |
70,000 | 2.4844 | 07/18/2016 |
44,400 | 2.4533 | 07/19/2016 |
26,837 | 2.4776 | 07/20/2016 |
75,000 | 2.5447 | 07/21/2016 |
125,000 | 2.5416 | 07/21/2016 |
6,900 | 2.4999 | 07/22/2016 |
13,400 | 2.4953 | 07/25/2016 |
7,400 | 2.4693 | 07/25/2016 |
9,800 | 2.4815 | 07/25/2016 |
4,300 | 2.4912 | 07/26/2016 |
75,000 | 2.4993 | 08/01/2016 |
48,605 | 2.5024 | 08/01/2016 |
75,000 | 2.4848 | 08/02/2016 |
68,366 | 2.4846 | 08/02/2016 |
24,598 | 2.4795 | 08/03/2016 |
23,358 | 2.4898 | 08/03/2016 |
13,875 | 2.4999 | 08/04/2016 |
6,953 | 2.4996 | 08/04/2016 |
11,122 | 2.5000 | 08/05/2016 |
1,600 | 2.4984 | 08/05/2016 |
4,700 | 2.4549 | 08/09/2016 |
95,300 | 2.3770 | 08/09/2016 |
20,600 | 2.3490 | 08/10/2016 |
26,432 | 2.3491 | 08/10/2016 |
7,808 | 2.4997 | 08/12/2016 |
24,438 | 2.5000 | 08/15/2016 |
12,566 | 2.4997 | 08/15/2016 |
30,762 | 2.4933 | 08/16/2016 |
40,374 | 2.4947 | 08/16/2016 |
5,572 | 2.4997 | 08/17/2016 |
12,500 | 2.4998 | 08/17/2016 |