Filing Details

Accession Number:
0001193125-20-102429
Form Type:
13D Filing
Publication Date:
2020-04-09 14:36:32
Filed By:
Key Colony Fund Lp
Company:
Medallion Financial Corp (NASDAQ:MFIN)
Filing Date:
2020-04-09
SEC Url:
13D 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
Key Colony Fund 1,326,627 0 1,326,627 0 1,326,627 5.3%
Key Colony Management 1,326,627 0 1,326,627 0 1,326,627 5.3%
Alex Lieblong 1,326,627 0 1,326,627 0 1,326,627 5.3%
Filing

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

 

 

MEDALLION FINANCIAL CORP.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

583928106

(CUSIP Number)

Geoffrey Neal

Kutak Rock LLP

124 West Capitol Avenue, Suite 2000

Little Rock, Arkansas 72201

(501) 975-3000

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

March 27, 2020

(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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ☐

 

*

The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter 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 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No.    583928106

 

  1   

NAME OF REPORTING PERSONS

 

Key Colony Fund, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

WC

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 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

 

1,326,627

     8   

SHARED VOTING POWER

 

0

     9   

SOLE DISPOSITIVE POWER

 

1,326,627

   10    

SHARED DISPOSITIVE POWER

 

0

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,326,627

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

5.3%

14  

TYPE OF REPORTING PERSON

 

PN


CUSIP No.    583928106

 

  1   

NAME OF REPORTING PERSON

 

Key Colony Management, LLC

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

PF

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

 

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Arkansas

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

1,326,627

     8   

SHARED VOTING POWER

 

0

     9   

SOLE DISPOSITIVE POWER

 

1,326,627

   10    

SHARED DISPOSITIVE POWER

 

0

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,326,627

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

5.3%

14  

TYPE OF REPORTING PERSON

 

CO


CUSIP No.    583928106

 

  1   

NAME OF REPORTING PERSONS

 

Alex Lieblong

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS

 

WC

  5  

CHECK BOX 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

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

SOLE VOTING POWER

 

1,326,627

     8   

SHARED VOTING POWER

 

0

     9   

SOLE DISPOSITIVE POWER

 

1,326,627

   10    

SHARED DISPOSITIVE POWER

 

0

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,326,627

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

5.3%

14  

TYPE OF REPORTING PERSON

 

IN


SCHEDULE 13D/A

Explanatory Note: This Amendment No. 2 amends, as described below, the Schedule 13D filed with the Securities and Exchange Commission on June 6, 2018, as amended by Amendment No. 1 thereto, filed March 6, 2019 (as amended, the Original Schedule 13D), by Key Colony Fund L.P., a Delaware limited partnership (Key Colony Fund), Key Colony Management, LLC, an Arkansas limited liability company and the general partner of Key Colony Fund (Key Colony Management), and Alex R. Lieblong, a United States citizen, the managing member of Key Colony Management (each a Reporting Person and together the Reporting Persons). All terms not defined herein shall have the meanings set forth in the Original Schedule 13D

 

Item 1.

Security and Issuer

There have been no material changes to the information previously reported in Item 1 of the Original Schedule 13D with respect to the Company or the Common Stock.

 

Item 2.

Identity and Background

There have been no material changes to the information previously reported in Item 2 of the Original Schedule 13D with respect to the Reporting Persons.

 

Item 3.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds and Other Consideration of the Original Schedule 13D is hereby amended and supplemented by adding the following:

Since the date of Amendment No. 1 to the Original Schedule 13D, the Reporting Persons have acquired 264,849 shares of the Common Stock and disposed of 501,250 shares of the Common Stock, resulting in a net reduction of 236,401 shares. The source of funds used for aforementioned purchases was the available working capital funds of Key Colony Fund. The aggregate funds used by Key Colony Fund to make such purchases were $1,557,098, including commissions.

 

Item 4.

Purpose of Transaction

There have been no material changes to the information previously reported in Item 4 of the Original Schedule 13D with respect to the purpose of the transaction.

 

Item 5.

Interest in Securities of the Issuer

The second sentence of the second paragraph of section (a) of Item 5. Interest in Securities of the Issuer of the Original Schedule 13D is hereby amended and restated as follows:

The Reporting Persons collectively own an aggregate of 1,326,627 shares of Common Stock.

The last sentence of section (b) of Item 5. Interest in Securities of the Issuer of the Original Schedule 13D is hereby amended and restated as follows:

All percentages set forth in this statement are based on 24,806,656 outstanding shares of Common Stock reported in the Issuers Form 10-K for the year ended December 31, 2019.


Section (c) of Item 5. Interest in Securities of the Issuer of the Original Schedule 13D is hereby amended and restated as follows:

(c) Transactions by the Reporting Persons in shares of Common Stock of the Issuer in the last sixty days are as follows:

 

Transaction Date

   Shares
Disposed
     Shares
Acquired
     Price Per
Share ($)
    

Description of Transaction

2/4/2020

        2,985        6.8101      Open Market Purchase

2/7/2020

        4,000        6.75      Open Market Purchase

2/14/2020

        282        6.63      Open Market Purchase

2/24/2020

     24,000           6.3145      Open Market Sale

2/25/2020

     24,797           6.2392      Open Market Sale

2/26/2020

     20,500           6.1796      Open Market Sale

2/27/2020

     14,500           5.9366      Open Market Sale

2/28/2020

     45,500           5.8074      Open Market Sale

3/2/2020

     31,302           5.6004      Open Market Sale

3/3/2020

     46,800           5.4721      Open Market Sale

3/4/2020

     20,000           5.2952      Open Market Sale

3/5/2020

     11,600           5.2774      Open Market Sale

3/6/2020

     40,000           5.1965      Open Market Sale

3/9/2020

     17,100           4.4537      Open Market Sale

3/10/2020

     112,000           4.0109      Open Market Sale

3/11/2020

     4,611           4.086      Open Market Sale

3/16/2020

     2,800           3.2027      Open Market Sale

3/17/2020

     27,000           3.2509      Open Market Sale

3/27/2020

     4,000           2.0755      Open Market Sale

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

There have been no material changes to the information previously reported in Item 6 of the Original Schedule 13D.

 

Item 7.

Material to be Filed as Exhibits

There have been no material changes to the information previously reported in Item 7 of the Original Schedule 13D.


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.

Dated: April 9, 2020

 

KEY COLONY FUND, L.P.
By:   Key Colony Management, LLC, its general partner
  By:  

/s/ Alex R. Lieblong

  Name:   Alex R. Lieblong
  Title:   Managing Member

 

KEY COLONY MANAGEMENT, LLC
By:  

/s/ Alex R. Lieblong

Name:   Alex R. Lieblong
Title:   Managing Member
/s/ Alex R. Lieblong
Alex R. Lieblong