Page 5 of 8 – SEC Filing
CUSIP No. 65341D102
SCHEDULE 13D/A
This Amendment No. 6 (this Amendment) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited
partnership (Highland Capital), James D. Dondero, and Nancy Marie Dondero (collectively, the Reporting Persons), and amends the Schedule 13D filed on March 26, 2015, as subsequently amended on April 14, 2015, as
subsequently amended on April 23, 2015, as subsequently amended on April 24, 2015, as subsequently amended on September 2, 2015 and as subsequently amended on October 19, 2015. This Amendment updates the stock ownership
information for the Schedule 13D. The Schedule 13D is supplementally amended as follows.
Item 3. Source and Amount of Funds.
The Reporting Persons received an aggregate of 2,470,129 shares of Common Stock, par value $0.01 per share (the Common Stock) in
connection with the consummation of the separation of the Issuer from NexPoint Credit Strategies Fund (the Spin-Off). As of July 20, 2016, the Reporting Persons had purchased additional shares of Common Stock with working capital in
open market purchases for an aggregate purchase price of approximately $15,791,133.41.
Item 5. Interest in Securities of the Issuer.
(a) As of July 20, 2016, (i) Highland Capital may be deemed to beneficially own 1,646,951.26 shares of Common Stock, which represents
approximately 7.74% of the outstanding Common Stock, (ii) James D. Dondero may be deemed to beneficially own 3,588,261.6798 shares of Common Stock, which represents approximately 16.87% of the outstanding Common Stock, and (iii) Nancy
Marie Dondero, in her capacity of trustee of a trust, may deemed to beneficially own 1,868,331.5774 shares of Common Stock, which represents approximately 8.79% of the outstanding Common Stock. James D. Dondero has the right to acquire beneficial
ownership of the 1,868,331.5774 shares of Common Stock owned by the trust referred to in the preceding sentence.
(b)
Name of Reporting Person
Sole Voting
Power Shared Voting
Power Sole
Dispositive
Power Shared
Dispositive
Power Highland Capital Management, L.P.(1)
524,530.04 1,122,421.22 524,530.04 1,122,421.22 James D. Dondero(2)
24,005.90 3,564,255.78 24,005.90 3,564,255.78 Nancy Marie Dondero (3)
1,860,831.5774 7,500 1,860,831.5774 7,500
(1) These shares are held by Highland Capital both directly and indirectly through advised accounts. Mr. Dondero is the President and the director of Strand Advisors, Inc., Highland Capitals general partner, and
may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares.
(2) These shares are held by Mr. Dondero both directly and indirectly through Highland Capital (as described in footnote (1) above), an employee benefit plan and a trust. Also includes shares that Mr. Dondero
has the right to acquire beneficial ownership of that are held by the trust referred to in Item 5(a), for which he does not serve as trustee. Mr. Dondero is the President and the director of Strand Advisors, Inc., Highland Capitals
general partner, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares.
(3) Includes shares that Ms. Dondero may be deemed to beneficially own as the trustee of the trust referred to in Item 5(a). Ms. Dondero is the sister of Mr. Dondero.
(c) Annex A attached hereto lists all transactions in the Common Stock during the past 60 days by the Reporting Persons. Except as otherwise
noted, the transactions in the Common Stock were effected in the open market.
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| CUSIP No. 65341D102 |
SCHEDULE 13D/A
This Amendment No. 6 (this Amendment) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited
partnership (Highland Capital), James D. Dondero, and Nancy Marie Dondero (collectively, the Reporting Persons), and amends the Schedule 13D filed on March 26, 2015, as subsequently amended on April 14, 2015, as
subsequently amended on April 23, 2015, as subsequently amended on April 24, 2015, as subsequently amended on September 2, 2015 and as subsequently amended on October 19, 2015. This Amendment updates the stock ownership
information for the Schedule 13D. The Schedule 13D is supplementally amended as follows.
Item 3. Source and Amount of Funds.
The Reporting Persons received an aggregate of 2,470,129 shares of Common Stock, par value $0.01 per share (the Common Stock) in
connection with the consummation of the separation of the Issuer from NexPoint Credit Strategies Fund (the Spin-Off). As of July 20, 2016, the Reporting Persons had purchased additional shares of Common Stock with working capital in
open market purchases for an aggregate purchase price of approximately $15,791,133.41.
Item 5. Interest in Securities of the Issuer.
(a) As of July 20, 2016, (i) Highland Capital may be deemed to beneficially own 1,646,951.26 shares of Common Stock, which represents
approximately 7.74% of the outstanding Common Stock, (ii) James D. Dondero may be deemed to beneficially own 3,588,261.6798 shares of Common Stock, which represents approximately 16.87% of the outstanding Common Stock, and (iii) Nancy
Marie Dondero, in her capacity of trustee of a trust, may deemed to beneficially own 1,868,331.5774 shares of Common Stock, which represents approximately 8.79% of the outstanding Common Stock. James D. Dondero has the right to acquire beneficial
ownership of the 1,868,331.5774 shares of Common Stock owned by the trust referred to in the preceding sentence.
(b)
| Name of Reporting Person | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | ||||||||||||
| Highland Capital Management, L.P.(1) | 524,530.04 | 1,122,421.22 | 524,530.04 | 1,122,421.22 | ||||||||||||
| James D. Dondero(2) | 24,005.90 | 3,564,255.78 | 24,005.90 | 3,564,255.78 | ||||||||||||
| Nancy Marie Dondero (3) | 1,860,831.5774 | 7,500 | 1,860,831.5774 | 7,500 | ||||||||||||
| (1) | These shares are held by Highland Capital both directly and indirectly through advised accounts. Mr. Dondero is the President and the director of Strand Advisors, Inc., Highland Capitals general partner, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares. |
| (2) | These shares are held by Mr. Dondero both directly and indirectly through Highland Capital (as described in footnote (1) above), an employee benefit plan and a trust. Also includes shares that Mr. Dondero has the right to acquire beneficial ownership of that are held by the trust referred to in Item 5(a), for which he does not serve as trustee. Mr. Dondero is the President and the director of Strand Advisors, Inc., Highland Capitals general partner, and may be deemed to be an indirect beneficial owner of the shares held by Highland Capital. Mr. Dondero disclaims beneficial ownership of such shares. |
| (3) | Includes shares that Ms. Dondero may be deemed to beneficially own as the trustee of the trust referred to in Item 5(a). Ms. Dondero is the sister of Mr. Dondero. |
(c) Annex A attached hereto lists all transactions in the Common Stock during the past 60 days by the Reporting Persons. Except as otherwise
noted, the transactions in the Common Stock were effected in the open market.
