Filing Details
- Accession Number:
- 0001062993-19-004775
- Form Type:
- 13D Filing
- Publication Date:
- 2019-12-17 16:51:42
- Filed By:
- Edenbrook Capital, Llc
- Company:
- Frequency Electronics Inc (NASDAQ:FEIM)
- Filing Date:
- 2019-12-17
- SEC Url:
- 13D Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Edenbrook Capital | 0 | 1,583,949 | 0 | 1,583,949 | 1,583,949 | 17.41% |
| Edenbrook Long Only Value Fund | 0 | 1,312,445 | 0 | 1,312,445 | 1,312,445 | 14.42% |
| Jonathan Brolin | 0 | 1,583,949 | 0 | 1,583,949 | 1,583,949 | 17.41% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934 (Amendment No. 9)
| Frequency Electronics, Inc. |
| (Name of Issuer) |
| Common Stock, par value $1.00 |
| (Title of Class of Securities) |
| 358010106 |
| (CUSIP Number) |
| Jonathan Brolin (914) 239-3117 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| December 17, 2019 |
| (Date of Event which Requires Filing of this Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent.
The information required on 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).
Page 2
SCHEDULE 13D/A
| CUSIP No. | 358010106 |
| 1 | NAMES OF REPORTING PERSONS | ||
| Edenbrook Capital, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | ||
| (a) [ ] (b) [ ] | |||
| 3 | SEC USE ONLY | ||
| 4 | SOURCE OF FUNDS (See Instructions) | ||
| AF | |||
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) | ||
| [ ] | |||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||
| New York | |||
| NUMBER OF | 7 | SOLE VOTING POWER | |
| -0- | |||
| 8 | SHARED VOTING POWER | ||
| 1,583,949 | |||
| 9 | SOLE DISPOSITIVE POWER | ||
| -0- | |||
| 10 | SHARED DISPOSITIVE POWER | ||
| 1,583,949 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||
| 1,583,949 | |||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | ||
| [ ] | |||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||
| 17.41% | |||
| 14 | TYPE OF REPORTING PERSON (See Instructions) | ||
| IA, OO | |||
Page 3
SCHEDULE 13D/A
| CUSIP No. | 358010106 |
| 1 | NAMES OF REPORTING PERSONS | ||
| Edenbrook Long Only Value Fund, LP | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | ||
| (a) [ ] (b) [ ] | |||
| 3 | SEC USE ONLY | ||
| 4 | SOURCE OF FUNDS (See Instructions) | ||
| WC | |||
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) | ||
| [ ] | |||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||
| Delaware | |||
| NUMBER OF | 7 | SOLE VOTING POWER | |
| -0- | |||
| 8 | SHARED VOTING POWER | ||
| 1,312,445 | |||
| 9 | SOLE DISPOSITIVE POWER | ||
| -0- | |||
| 10 | SHARED DISPOSITIVE POWER | ||
| 1,312,445 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||
| 1,312,445 | |||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | ||
| [ ] | |||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||
| 14.42% | |||
| 14 | TYPE OF REPORTING PERSON (See Instructions) | ||
| PN | |||
Page 4
SCHEDULE 13D/A
| CUSIP No. | 358010106 |
| 1 | NAMES OF REPORTING PERSONS | ||
| Jonathan Brolin | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | ||
| (a) [ ] (b) [ ] | |||
| 3 | SEC USE ONLY | ||
| 4 | SOURCE OF FUNDS (See Instructions) | ||
| AF | |||
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) | ||
| [ ] | |||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||
| United States | |||
| NUMBER OF | 7 | SOLE VOTING POWER | |
| -0- | |||
| 8 | SHARED VOTING POWER | ||
| 1,583,949 | |||
| 9 | SOLE DISPOSITIVE POWER | ||
| -0- | |||
| 10 | SHARED DISPOSITIVE POWER | ||
| 1,583,949 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||
| 1,583,949 | |||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | ||
| [ ] | |||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||
| 17.41% | |||
| 14 | TYPE OF REPORTING PERSON (See Instructions) | ||
| IN | |||
Page 5
This Amendment No. 9 (“Amendment No. 9) amends and supplements the statements on Schedule 13D/A filed with the Securities and Exchange Commision (the “SEC”) on April 9, 2018 (the “Last Schedule 13D/A”) with respect to the Common Stock, par value $1.00 (the “Common Stock”) of Frequency Electronics, Inc. (the “Issuer”). Capitalized terms used herein and not otherwise defined in this Amendment No. 9 have the meanings set forth in the Last Schedule 13D/A. This Amendment No. 9 amends Items 3and 5 as set forth below.
Item 3. Source and Amount of Funds or Other Considerations
The net investment costs (including commissions, if any) of the Common Stock directly owned by the private investment funds advised by Edenbrook is approximately $15,046,455. The Common Stock was purchased with the investment capital of the private investment funds advised by Edenbrook.
Item 5. Interest in Securities of the Issuer
| (a)-(c) | As of the date hereof, (i) Edenbrook and Mr. Brolin may be deemed to be the beneficial owners of 1,583,949 shares of Common Stock, constituting 17.41% of the shares of Common Stock, based upon 9,099,598 shares of Common Stock outstanding as of December 11, 2019, as set forth in the Form 10-Q filed by the Issuer on December 16, 2019 and (ii) the Fund may be deemed to be the beneficial owner of 1,312,445 shares of Common Stock, constituting 14.42% of the shares of Common Stock, based upon 9,099,598 shares of Common Stock outstanding as of December 11, 2019, as set forth in the Form 10-Q filed by the Issuer on December 16, 2019. |
| Edenbrook has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 1,583,949 shares of Common Stock; has the sole power to dispose or direct the disposition of 0 shares of Common Stock; and has the shared power to dispose or direct the disposition of 1,583,949 shares of Common Stock. | |
| The Fund has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 1,312,445 shares of Common Stock; has the sole power to dispose or direct the disposition of 0 shares of Common Stock; and has the shared power to dispose or direct the disposition of 1,312,445 shares of Common Stock. | |
| Mr. Brolin has the sole power to vote or direct the vote of 0 shares of Common Stock; has the shared power to vote or direct the vote of 1,583,949 shares of Common Stock; has the sole power to dispose or direct the disposition of 0 shares of Common Stock; and has the shared power to dispose or direct the disposition of 1,583,949 shares of Common Stock. | |
| The transactions by the Reporting Persons in the securities of the Issuer during the past sixty days are set forth in Exhibit A. All such transactions were carried out in open market transactions. | |
| The Reporting Persons specifically disclaim beneficial ownership in the shares of Common Stock reported herein except to the extent of their pecuniary interest therein. |
Page 6
Signature
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.
| December 17, 2019 |
| Date EDENBROOK CAPITAL, LLC |
| By: /s/ Jonathan Brolin |
| Jonathan Brolin, Managing Member |
| EDENBROOK LONG ONLY VALUE FUND, LP |
| By: /s/ Jonathan Brolin |
| Managing Member of Edenbrook Capital Partners, LLC |
| By: /s/ Jonathan Brolin |
| Jonathan Brolin |
Page 7
Exhibit A
Schedule of Transactions in Shares by Private Funds Advised by Edenbrook
| Transaction Date | Title of Class | Number of Shares Purchased | Price per Share |
| 10/28/2019 | Common Stock | 598 | 11.28 |
| 12/13/2019 | Common Stock | 28,600 | 9.45 |
| 12/13/2019 | Common Stock | 7,171 | 9.30 |
| 12/16/2019 | Common Stock | 16,800 | 9.34 |
| 12/16/2019 | Common Stock | 3,700 | 9.30 |
| 12/17/2019 | Common Stock | 21,600 | 9.32 |
| 12/17/2019 | Common Stock | 700 | 9.34 |