Page 8 of 14 – SEC Filing
(d & e) Mr. Economou has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has he been, during the last five years, a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Citizenship: Greece
Item 3. Source and Amount of Funds or Other Consideration Sphinx purchased an aggregate of 11,471,621 Shares for an aggregate consideration of $42,444,997.70 pursuant to that certain Subscription Agreement, dated as of August 6, 2010 (the “Subscription Agreement“), by and between the Issuer and Sphinx. The source of funds used by Sphinx to purchase the foregoing Shares is its working capital. Sphinx purchased an aggregate of 4,750,000 Shares for an aggregate consideration equal to the volume weighted average price of the Issuer’s common stock pursuant to a Stock Purchase Agreement, dated as of March 22, 2016 (the “Purchase Agreement“), by and between Sphinx and Radu Financial Holdings Limited, a Marshall Islands corporation. The source of funds used by Sphinx to purchase the foregoing Shares is its working capital. Item 4. Purpose of Transaction All of the Shares reported herein were acquired for investment purposes, and were acquired without the purpose or effect of changing or influencing control of the Issuer. The Reporting Persons review on a continuing basis their investment in the Issuer and reserve the right to change their plans or intentions and to take any and all actions that they deem appropriate to maximize the value of their investment in the Issuer. Based on such review and depending on the price and availability of the Issuer’s securities, the Reporting Persons may from time to time, subject to any legal or contractual restrictions, acquire or dispose, or cause to be acquired or disposed, additional securities of the Issuer, in the open market, in privately negotiated transactions or otherwise or formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment policies of the Reporting Persons, the Issuer’s business, financial condition and operating results, general market and industry conditions or other factors. Item 5. Interest in Securities of the Issuer (a) As of the date hereof, Sphinx owns, and Maryport and Economou may be deemed beneficial owners of, 16,221,621 Shares, or 14.78% of the outstanding Shares. (b) Sphinx has the sole power to vote or direct the vote of 16,221,621 Shares; has the shared power to vote or direct the vote of 0 Shares; has the sole power to dispose or direct the Follow Danaos Corp (NYSE:DAC)
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| (d & e) | Mr. Economou has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has he been, during the last five years, a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
| (f) | Citizenship: Greece |
Item 3. Source and Amount of Funds or Other Consideration
Sphinx purchased an aggregate of 11,471,621 Shares for an aggregate consideration of $42,444,997.70 pursuant to that certain Subscription Agreement, dated as of August 6, 2010 (the “Subscription Agreement“), by and between the Issuer and Sphinx. The source of funds used by Sphinx to purchase the foregoing Shares is its working capital.
Sphinx purchased an aggregate of 4,750,000 Shares for an aggregate consideration equal to the volume weighted average price of the Issuer’s common stock pursuant to a Stock Purchase Agreement, dated as of March 22, 2016 (the “Purchase Agreement“), by and between Sphinx and Radu Financial Holdings Limited, a Marshall Islands corporation. The source of funds used by Sphinx to purchase the foregoing Shares is its working capital.
Item 4. Purpose of Transaction
All of the Shares reported herein were acquired for investment purposes, and were acquired without the purpose or effect of changing or influencing control of the Issuer. The Reporting Persons review on a continuing basis their investment in the Issuer and reserve the right to change their plans or intentions and to take any and all actions that they deem appropriate to maximize the value of their investment in the Issuer. Based on such review and depending on the price and availability of the Issuer’s securities, the Reporting Persons may from time to time, subject to any legal or contractual restrictions, acquire or dispose, or cause to be acquired or disposed, additional securities of the Issuer, in the open market, in privately negotiated transactions or otherwise or formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment policies of the Reporting Persons, the Issuer’s business, financial condition and operating results, general market and industry conditions or other factors.
Item 5. Interest in Securities of the Issuer
(a) As of the date hereof, Sphinx owns, and Maryport and Economou may be deemed beneficial owners of, 16,221,621 Shares, or 14.78% of the outstanding Shares.
(b) Sphinx has the sole power to vote or direct the vote of 16,221,621 Shares; has the shared power to vote or direct the vote of 0 Shares; has the sole power to dispose or direct the
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