Filing Details
- Accession Number:
- 0001878229-21-000003
- Form Type:
- 13G Filing
- Publication Date:
- 2021-10-12 20:00:00
- Filed By:
- Monroe William
- Company:
- Independence Contract Drilling Inc. (NYSE:ICD)
- Filing Date:
- 2021-10-13
- 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 |
|---|---|---|---|---|---|---|
| William Monroe | 0 | 1,400,000 | 19.3% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Independence Contract Drilling, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
453415309
(CUSIP Number)
December 1, 2020
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ 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 persons 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 in 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).
CUSIP NO. 453415309
| SCHEDULE 13G |
Item 1(a). | Name of issuer: | |
| Independence Contract Drilling, Inc. | ||
Item 1(b). | Address of Issuers principal executive offices: | |
| 20475 State Highway 249, Suite 300 Houston, TX 77070 | ||
Item 2(a) (c). | Name, Address and Citizenship of Persons Filing: | |
| William Monroe | ||
| c/o Higier Allen & Lautin, P.C. | ||
| 2711 N. Haskell Ave., Suite 2400 | ||
| Dallas, Texas 75204 | ||
| Mr. Monroe is a citizen of the United States of America | ||
Item 2(d). | Title of class of securities: | |
| Common Stock, $0.01 par value per share | ||
Item 2(e). | CUSIP No.: | |
| 453415309 | ||
Item 3. | If this statement is filed pursuant to Sections 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: |
(a)
| o | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | ||
(b)
| o | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | ||
(c)
| o | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | ||
(d)
| o | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | ||
(e)
| o | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | ||
(f)
| o | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | ||
(g)
| o | A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); | ||
(h)
| o | A savings association as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | ||
(i)
| o | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | ||
(j)
| o | Group, in accordance with §240.13d-1(b)(1)(ii)(J) | ||
| Not applicable. | ||||
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CUSIP NO. 453415309
| SCHEDULE 13G |
| Item 4. | Ownership: | |||||
| (a) | Amount beneficially owned: 1,400,000 | |||||
| (b) | Percent of class: 19.3% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | sole power to vote or to direct the vote: 1,400,000 | |||||
| (ii) | shared power to vote or to direct the vote: 0 | |||||
| (iii) | sole power to dispose or to direct the disposition of: 1,400,000 | |||||
| (iv) | shared power to dispose or to direct the disposition of: 0 | |||||
This statement is being filed to disclose (i) the reporting person’s
previously unreported acquisition of beneficial ownership of more than five
percent of the Issuer’s common stock, which occurred on December 1, 2020,
and (ii) previously unreported transactions effected by or on behalf of the
reporting person between December 1, 2020 and August 4, 2021. The reporting
person has voluntarily disclosed and reimbursed he issuer for profits made on
transactions matched in accordance with Section 16(b) of the Securities Exchange Act of 1934.
Item 5. | Ownership of five percent or less of a class: | |
| If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o. | ||
Item 6. | Ownership of more than five percent on behalf of another person: | |
| Not Applicable. | ||
Item 7. | Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person: | |
| Not Applicable. | ||
Item 8. | Identification and classification of members of the group: | |
| Not Applicable. | ||
Item 9. | Notice of dissolution of group: | |
| Not Applicable. | ||
Item 10. | Certifications: | |
| Not Applicable. |
[Signature page follows]
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CUSIP NO. 453415309
| SCHEDULE 13G |
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: October 12, 2021
| /s/ William Monroe | ||
| William Monroe |
ATTENTION: Intentional misstatements or
omissions of fact constitute Federal criminal violations (See 18 U.S.C. § 1001)
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| 1. | The reporting person acquired more than five percent of the Issuer’s common stock in a series of open market purchases beginning on September 16, 2020. On December 1, 2021, the reporting person made several open market purchases of the Issuer’s common stock which caused his total beneficial ownership to exceed 5%. As of December 1, 2020, the reporting person owned an aggregate of 317,000 shares of the Issuer’s common stock, which represented total beneficial ownership of 5.1%, based on 6,175,818 shares of the Issuer’s common stock outstanding as of November 3, 2020 as reported on the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 3, 2020. | |
| 2. | The reporting person acquired more than 10% of the Issuer’s common stock in a series of open market purchases made from December 2, 2020 to January 15, 2021. On January 15, 2021, the reporting person made several open market purchases of the Issuer’s common stock which caused his total beneficial ownership to exceed 10%. As of January 15, 2021, the reporting person owned an aggregate of 655,100 shares of the Issuer’s common stock, which represented total beneficial ownership of 10.6%, based on 6,175,818 shares of the Issuer’s common stock outstanding as of November 3, 2020 as reported on the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 3, 2020. The following is a summary of the reporting person’s transactions that occurred from December 2, 2020 to January 15, 2021: |
| Date of Transaction | Transaction Type | Number of Shares | Description |
| 1/6/2021 | Acquisition | 40,000 | Open market purchase |
| 1/7/2021 | Acquisition | 120,000 | Open market purchase |
| 1/12/2021 | Acquisition | 23,100 | Open market purchase |
| 1/14/2021 | Acquisition | 50,000 | Open market purchase |
| 1/15/2021 | Acquisition | 55,000 | Open market purchase |
| 3. | As of October 8, 2021, the reporting person owned an aggregate of 1,400,000 shares of the Issuer’s common stock, which represented total beneficial ownership of 19.3%, based on 7,243,937 shares of the Issuer’s common stock outstanding as of July 31, 2021 as reported on the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 4, 2021. The following is a summary of the reporting person’s transactions that occurred from January 16, 2021 to October 8, 2021: |
| Date of Transaction | Transaction Type | Number of Shares | Description |
| 1/19/2021 | Acquisition | 18,000 | Open market purchase |
| 2/8/2021 | Acquisition | 10 | Open market purchase |
| 2/22/2021 | Acquisition | 55,000 | Open market purchase |
| 3/26/2021 | Sale | 25,000 | Open market sale |
| 4/5/2021 | Acquisition | 110,000 | Open market purchase |
| 4/16/2021 | Acquisition | 15,000 | Open market purchase |
| 5/7/2021 | Acquisition | 2,500 | Open market purchase |
| 5/11/2021 | Acquisition | 10,000 | Open market purchase |
| 5/25/2021 | Acquisition | 30,000 | Open market purchase |
| 7/19/2021 | Acquisition | 75 | Open market purchase |
| 8/2/2021 | Acquisition | 2 | Open market purchase |
| 8/27/2021 | Acquisition | 20,000 | Open market purchase |
| 8/27/2021 | Sale | 687 | Open market sale |
| 9/22/2021 | Acquisition | 20,000 | Open market purchase |
| 9/23/2021 | Acquisition | 60,000 | Open market purchase |
| 9/29/2021 | Acquisition | 5,000 | Open market purchase |
| 10/5/2021 | Acquisition | 295,000 | Open market purchase |
| 10/6/2021 | Acquisition | 5,625 | Open market purchase |
| 10/7/2021 | Acquisition | 54,375 | Open market purchase |
| 10/8/2021 | Acquisition | 30,000 | Open market purchase |
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