Filing Details
- Accession Number:
- 0001193805-22-001593
- Form Type:
- 13D Filing
- Publication Date:
- 2022-11-20 19:00:00
- Filed By:
- Pentwater Capital Management
- Company:
- Turquoise Hill Resources Ltd. (NYSE:TRQ)
- Filing Date:
- 2022-11-21
- 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 |
|---|---|---|---|---|---|---|
| Pentwater Capital Management | 30,358,382 | 0 | 30,358,382 | 0 | 30,358,382 | 15.09% |
| Crown Managed Accounts SPC | 0 | 1,096,014 | 0 | 1,096,014 | 1,096,014 | 0.54% |
| LMA SPC on behalf of MAP | 0 | 305,450 | 0 | 305,450 | 305,450 | 0.15% |
| Investment Opportunities | 0 | 1,528,950 | 0 | 1,528,950 | 1,528,950 | 0.76% |
| Oceana Master Fund Ltd | 0 | 3,743,213 | 0 | 3,743,213 | 3,743,213 | 1.86% |
| Pentwater Equity Opportunities Master Fund Ltd | 0 | 2,421,644 | 0 | 2,421,644 | 2,421,644 | 1.20% |
| Pentwater Merger Arbitrage Master Fund Ltd | 0 | 8,601,642 | 0 | 8,601,642 | 8,601,642 | 4.27% |
| PWCM Master Fund Ltd | 0 | 5,222,591 | 0 | 5,222,591 | 5,222,591 | 2.60% |
| Pentwater Unconstrained Master Fund. Ltd | 0 | 173,996 | 0 | 173,996 | 173,996 | 0.09% |
| Pentwater Credit Master Fund Ltd | 0 | 204,626 | 0 | 204,626 | 204,626 | 0.10% |
| Matthew Halbower | 0 | 7,060,256 | 0 | 7,060,256 | 7,060,256 | 3.51% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
TURQUOISE HILL RESOURCES LTD.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
900435108
(CUSIP Number)
Matthew Halbower
Pentwater Capital Management LP
1001 10th Avenue South, Suite 216
Naples, FL 34102
(239) 384-9750
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
November 17, 2022
(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 ☐.
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. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Pentwater Capital Management LP | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☐ (b) ☒
| |
| 3 | SEC USE ONLY
| ||
| 4 | SOURCE OF FUNDS
N/A | ||
| 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
30,358,382 | |
| 8 | SHARED VOTING POWER
0 | ||
| 9
| SOLE DISPOSITIVE POWER
30,358,382 | ||
| 10
| SHARED DISPOSITIVE POWER
0 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,358,382 | ||
| 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)
15.09% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Crown Managed Accounts SPC | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
1,096,014 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
1,096,014 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,096,014 | ||
| 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)
0.54% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
LMA SPC on behalf of MAP 98 Segregated Portfolio | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
305,450 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
305,450 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
305,450 | ||
| 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)
0.15% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Investment Opportunities 3 SPC | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
1,528,950 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
1,528,950 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,528,950 | ||
| 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)
0.76% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Oceana Master Fund Ltd. | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
3,743,213 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
3,743,213 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,743,213 | ||
| 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)
1.86% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Pentwater Equity Opportunities Master Fund Ltd. | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
2,421,644 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
2,421,644 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,644 | ||
| 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)
1.20% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Pentwater Merger Arbitrage Master Fund Ltd. | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
8,601,642 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
8,601,642 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,601,642 | ||
| 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)
4.27% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
PWCM Master Fund Ltd. | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
5,222,591 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
5,222,591 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,222,591 | ||
| 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)
2.60% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Pentwater Unconstrained Master Fund. Ltd | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
173,996 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
173,996 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
173,996 | ||
| 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)
0.09% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Pentwater Credit Master Fund Ltd. | ||
| 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
Cayman Islands | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
204,626 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
204,626 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
204,626 | ||
| 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)
0.10% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022. |
| CUSIP No. 900435108 |
| 1 | NAME OF REPORTING PERSONS
Matthew Halbower | ||
| 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
USA | ||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
7,060,256 | ||
| 9
| SOLE DISPOSITIVE POWER
0 | ||
| 10
| SHARED DISPOSITIVE POWER
7,060,256 | ||
| 11
| AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,060,256 | ||
| 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)
3.51% (1) | ||
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN | ||
| (1) | Based on 201,231,446 common shares outstanding as set forth in the Issuer’s Management’s Discussion and Analysis attached as an Exhibit to the Company’s Report on Form 6-K filed with the SEC on November 14, 2022 |
This Amendment No. 8 (this “Amendment”) to Schedule 13D amends the Schedule 13D filed by Pentwater Capital Management LP, a Delaware limited partnership registered as an investment adviser with the U.S. Securities and Exchange Commission (“Pentwater Capital”), Crown Managed Accounts SPC, an exempted company formed in the Cayman Islands (“CROWN”), Investment Opportunities 3 SPC, a segregated portfolio company formed in the Cayman Islands (“MALT”), LMA SPC on behalf of MAP 98 Segregated Portfolio, a segregated portfolio company formed in the Cayman Islands (“MAP”), Oceana Master Fund, Ltd., an exempted company formed in the Cayman Islands (“Oceana”), Pentwater Equity Opportunities Master Fund, Ltd., an exempted company formed in the Cayman Islands (“Pentwater Equity”), Pentwater Merger Arbitrage Master Fund, Ltd., an exempted company formed in the Cayman Islands (“PMAM”), Pentwater Thanksgiving Fund LP a limited partnership formed in the Cayman Islands (“PTHK”) (which is no longer a reporting person), PWCM Master Fund, Ltd., an exempted company formed in the Cayman Islands (“PWCM Master”), Pentwater Metric Merger Arbitrage Fund LP, a limited partnership formed in the Cayman Islands (“PWMM”) (which is no longer a reporting person), and Pentwater Unconstrained Master Fund, Ltd. an exempted company formed in the Cayman Islands (“PWUM”), and Matthew Halbower, chief executive officer of Pentwater Capital, as the same has been amended by Amendments Nos. 1, 2, 3, 4, 5, 6 and 7 thereto (as amended, the “Schedule 13D”), including to add Pentwater Credit Master Fund Ltd., an exempted company formed in the Cayman Islands (“PCMF”), as a reporting person. Pentwater Capital, CROWN, MALT, MAP, Oceana, Pentwater Equity, PMAM, PWCM Master, PWUM, PCMF and Matthew Halbower are collectively referred to herein as the “Reporting Persons.” CROWN, MALT, MAP, Oceana, Pentwater Equity, PMAM, PWCM Master, PWUM and PCMF are collectively referred to herein as the “Funds.” Pentwater Capital is the investment adviser of each of the Funds.
Capitalized terms used but not otherwise defined in this Amendment have the meanings ascribed to them in the Schedule 13D.
| ITEM 4. | PURPOSE OF THE TRANSACTION |
Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following:
On November 17, 2022, each Reporting Person entered into an agreement (the “Termination Agreement”) with Parent and Rio Tinto to terminate the November 2022 Agreement, which the Reporting Persons previously entered into with Parent and Rio Tinto in connection with the special meeting of shareholders of the Company to be held to vote on the Transaction. The Termination Agreement provides that the provisions of the November 2022 Agreement are void and that no party to the November 2022 Agreement has any liability or obligation in respect of the November 2022 Agreement.
In connection with the execution of the Termination Agreement, Mr. Halbower, as chief executive officer of Pentwater Capital, affirmed that, other than the Termination Agreement, and the making of certain public commitments by Rio Tinto to all minority shareholders of the Company, there is no other agreement, understanding or commitment, written or oral, between Rio Tinto on the one hand and any of the Reporting Persons on the other hand, including in any way related to the Transaction, the Arrangement Agreement, any dissent rights of the Reporting Persons, any oppression or other claims of the Reporting Persons against the Company, Rio Tinto or any of their respective affiliates, or any other matter.
The Reporting Persons are considering what actions they may take in respect of the Transaction including whether and how they may vote and whether they will seek to exercise dissent rights
The foregoing description of the Termination Agreement is a summary only, is not complete and is qualified in its entirety by reference to the complete text of the Termination Agreement, a copy of which is filed as Exhibit D hereto.
| ITEM 7. | MATERIAL TO BE FILED AS EXHIBITS. |
Item 7 of the Schedule 13D is hereby amended by adding the following Exhibit:
| Exhibit D | Termination Agreement, dated November 17, 2022, among the Reporting Persons, the other parties listed on Schedule A thereto, Parent and Rio Tinto. |
SIGNATURE
After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
| Dated: November 21, 2022 | PENTWATER CAPITAL MANAGEMENT LP | |
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| CROWN MANAGED ACCOUNTS SPC | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| LMA SPC for and on behalf of MAP 98 Segregated Portfolio | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| INVESTMENT OPPORTUNITIES 3 SPC | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| OCEANA MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| PENTWATER EQUITY OPPORTUNITIES MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| PENTWATER MERGER ARBITRAGE MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| PWCM MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| PENTWATER UNCONSTRAINED MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| PENTWATER CREDIT MASTER FUND LTD. | ||
| By: Pentwater Capital Management LP, its investment manager | ||
| By: Halbower Holdings, Inc., its general partner | ||
| By: | /s/ Matthew C. Halbower | |
| Name: | Matthew Halbower | |
| Title: | Chief Executive Officer | |
| MATTHEW C. HALBOWER | ||
| /s/ Matthew C. Halbower | ||
| Matthew C. Halbower | ||