Filing Details
- Accession Number:
- 0000899140-20-000132
- Form Type:
- 13G Filing
- Publication Date:
- 2020-02-12 16:23:18
- Filed By:
- Monarch Alternative Capital
- Company:
- Superior Energy Services Inc (NYSE:SPNX)
- Filing Date:
- 2020-02-12
- SEC Url:
- 13G Filing
Ownership Summary
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 |
|---|---|---|---|---|---|---|
| Monarch Alternative Capital | 0 | 1,136,498 | 0 | 1,136,498 | 1,136,498 | 7.74% |
| MDRA GP | 0 | 1,136,498 | 0 | 1,136,498 | 1,136,498 | 7.74% |
| Monarch GP | 0 | 1,136,498 | 0 | 1,136,498 | 1,136,498 | 7.74% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Superior Energy Services, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
868157306
(CUSIP Number)
December 31, 2019
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
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 (the “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).
| CUSIP No. 868157306 | 13G |
| 1 | NAME OF REPORTING PERSON Monarch Alternative Capital LP | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ⌧ | ||
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | |
| 6 | SHARED VOTING POWER 1,136,498 | ||
| 7 | SOLE DISPOSITIVE POWER 0 | ||
| 8 | SHARED DISPOSITIVE POWER 1,136,498 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,136,498 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.74%* | ||
| 12 | TYPE OF REPORTING PERSON PN | ||
* Based on (i) the 146,849,439 shares of Common Stock issued and outstanding as of November 18, 2019, as reported in the Issuer’s Definitive Proxy Statement filed on Form DEF 14A
with the Securities and Exchange Commission on November 22, 2019, and (ii) the 10:1 Reverse Stock Split and the Authorized Share Reduction effective at 5 p.m. Eastern Standard Time on December 18, 2019, as described in Exhibit 99.1 of the Form 8-K
filed by the Issuer with the Securities and Exchange Commission on December 18, 2019. See Item 4.
| CUSIP No. 868157306 | 13G |
| 1 | NAME OF REPORTING PERSON MDRA GP LP | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ⌧ | ||
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | |
| 6 | SHARED VOTING POWER 1,136,498 | ||
| 7 | SOLE DISPOSITIVE POWER 0 | ||
| 8 | SHARED DISPOSITIVE POWER 1,136,498 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,136,498 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.74%* | ||
| 12 | TYPE OF REPORTING PERSON PN | ||
* Based on (i) the 146,849,439 shares of Common Stock issued and outstanding as of November 18, 2019, as reported in the Issuer’s Definitive Proxy Statement filed on Form DEF 14A
with the Securities and Exchange Commission on November 22, 2019, and (ii) the 10:1 Reverse Stock Split and the Authorized Share Reduction effective at 5 p.m. Eastern Standard Time on December 18, 2019, as described in Exhibit 99.1 of the Form 8-K
filed by the Issuer with the Securities and Exchange Commission on December 18, 2019. See Item 4.
| CUSIP No. 868157306 | 13G |
| 1 | NAME OF REPORTING PERSON Monarch GP LLC | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ⌧ | ||
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: | 5 | SOLE VOTING POWER 0 | |
| 6 | SHARED VOTING POWER 1,136,498 | ||
| 7 | SOLE DISPOSITIVE POWER 0 | ||
| 8 | SHARED DISPOSITIVE POWER 1,136,498 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,136,498 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.74%* | ||
| 12 | TYPE OF REPORTING PERSON OO | ||
* Based on (i) the 146,849,439 shares of Common Stock issued and outstanding as of November 18, 2019, as reported in the Issuer's Definitive
Proxy Statement filed on Form DEF 14A with the Securities and Exchange Commission on November 22, 2019, and (ii) the 10:1 Reverse Stock Split and the Authorized Share Reduction effective at 5 p.m. Eastern Standard Time on December 18, 2019, as
described in Exhibit 99.1 of the Form 8-K filed by the Issuer with the Securities and Exchange Commission on December 18, 2019. See Item 4.
| Item 1(a): Name of Issuer: | |
| The name of the issuer is Superior Energy Services, Inc. (the “Issuer”). | |
| Item 1(b): Address of Issuer’s Principal Executive Offices: | |
| 1001 Louisiana Street, Suite 2900, Houston, Texas 77002. | |
| Item 2(a): Name of Person Filing: | |
| This Schedule 13G is filed by: | |
| (i) Monarch Alternative Capital LP (“MAC”), which serves as advisor to a variety of funds (such funds collectively, the “Funds”),
with respect to shares of Common Stock of the Issuer directly owned by the Funds; | |
| (ii) MDRA GP LP (“MDRA GP”), which is the general partner of MAC, with respect to shares of Common Stock indirectly beneficially owned by
virtue of such position; and | |
| (v) Monarch GP LLC (“Monarch GP”), which is the general partner of MDRA GP, with respect to shares of Common Stock indirectly beneficially
owned by virtue of such position. | |
| MAC, MDRA GP and Monarch GP are sometimes collectively referred to herein as the “Reporting Persons.” | |
| Item 2(b): Address of Principal Business Office or, if None, Residence: | |
| The address of the principal business office of the Reporting Persons is as follows: | |
| c/o Monarch Alternative Capital LP | |
| 535 Madison Avenue | |
| New York, New York 10022 | |
| Item 2(c): Citizenship: | |
| MAC is a Delaware limited partnership. MDRA GP is a Delaware limited partnership. Monarch GP is a Delaware limited liability company. | |
| Item 2(d): Title of Class of Securities: | |
| Common Stock, $0.001 par value per share (“Common Stock”) | |
| Item 2(e): CUSIP Number | |
| 868157306 | |
| Item 3: If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a: | ||
| A. | ☐ Broker or dealer registered under Section 15 of the Act, | |
| B. | ☐ Bank as defined in Section 3(a)(6) of the Act, | |
| C. | ☐ Insurance Company as defined in Section 3(a)(19) of the Act, | |
| D. | ☐ Investment Company registered under Section 8 of the Investment Company Act of 1940, | |
| E. | ☒ Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E), | |
| F. | ☐ Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F), | |
| G. | ☒ Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G), | |
| H. | ☐ Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, | |
| I. | ☐ Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940, | |
| J. | ☐ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J) | |
| K. | ☐ Group, in accordance with Rule 13d-1(b)(1)(ii)(K) | |
| Item 4: Ownership: | ||
| The beneficial ownership of each of the Reporting Persons as of December 31, 2019 is as follows: | ||
| A. | MAC | |
| (a) | Amount beneficially owned: 1,136,498 | |
| (b) | Percent of Class: 7.74% | |
| (c) | Number of shares as to which such person has: | |
| (i) | Sole power to vote or direct the vote: 0 | |
| (ii) | Shared power to vote or direct the vote: 1,136,498 | |
| (iii) | Sole power to dispose or direct the disposition: 0 | |
| (iv) | Shared power to dispose or direct the disposition: 1,136,498 | |
| B. | MDRA GP | |
| (a) | Amount beneficially owned: 1,136,498 | |
| (b) | Percent of Class: 7.74% | |
| (c) | Number of shares as to which such person has: | |
| (i) | Sole power to vote or direct the vote: 0 | |
| (ii) | Shared power to vote or direct the vote: 1,136,498 | |
| (iii) | Sole power to dispose or direct the disposition: 0 | |
| (iv) | Shared power to dispose or direct the disposition: 1,136,498 | |
| C. | Monarch GP | |
| (a) | Amount beneficially owned: 1,136,498 | |
| (b) | Percent of Class: 7.74% | |
| (c) | Number of shares as to which such person has: | |
| (i) | Sole power to vote or direct the vote: 0 | |
| (ii) | Shared power to vote or direct the vote: 1,136,498 | |
| (iii) | Sole power to dispose or direct the disposition: 0 | |
| (iv) | Shared power to dispose or direct the disposition: 1,136,498 | |
The foregoing beneficial ownership percentages are based on (i) the 146,849,439 shares of Common Stock issued and outstanding as of November 18, 2019, as reported in the Issuer's
Definitive Proxy Statement filed on Form DEF 14A with the Securities and Exchange Commission on November 22, 2019, and (ii) the 10:1 Reverse Stock Split and the Authorized Share Reduction effective at 5 p.m. Eastern Standard Time on December 18,
2019, as described in Exhibit 99.1 of the Form 8-K filed by the Issuer with the Securities and Exchange Commission on December 18, 2019.
| Item 5: Ownership of Five Percent or Less of a Class: | |
| N/A | |
| Item 6: Ownership of More than Five Percent on Behalf of Another Person: | |
| N/A | |
| Item 7: Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent
Holding Company or Control Person: | |
| See Exhibit 99.1 | |
| Item 8: Identification and Classification of Members of the Group: | |
| N/A | |
| Item 9: Notice of Dissolution of Group: | |
| N/A | |
| Item 10: Certification: | |
| By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect. | |
SIGNATURES
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.
| Dated: February 12, 2020 | MONARCH ALTERNATIVE CAPITAL LP | |
| By: MDRA GP LP, its General Partner | ||
| By: Monarch GP LLC, its General Partner | ||
| By: | /s/ Michael Weinstock | |
| Name: Michael Weinstock | ||
| Title: Member | ||
| Dated: February 12, 2020 | MDRA GP LP | |
| By: Monarch GP LLC, its General Partner | ||
| By: | /s/ Michael Weinstock | |
| Name: Michael Weinstock | ||
| Title: Member | ||
| Dated: February 12, 2020 | MONARCH GP LLC | |
| By: | /s/ Michael Weinstock | |
| Name: Michael Weinstock | ||
| Title: Member | ||