Filing Details

Accession Number:
0001019056-18-000914
Form Type:
13D Filing
Publication Date:
2018-07-20 16:30:17
Filed By:
Phoenix Investment Adviser Llc
Company:
Ditech Holding Corp (NYSE:DHCP)
Filing Date:
2018-07-20
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
JLP Credit Opportunity Master Fund Ltd 8. 2,069,463 10. 2,069,463 2,069,463 31.9%
Mercer QIF Fund PLC - Mercer Investment Fund 8. 600,847 10. 600,847 600,847 11.7%
JLP Credit Opportunity IDF Series of SALI Multi-Series Fund 8. 258,385 10. 258,385 258,385 5.3%
JLP Partners Master Fund 8. 23,071 10. 23,071 23,071 0.5%
Phoenix Investment Adviser 8. 2,951,766 10. 2,951,766 2,951,766 40.9%
Jeffrey Peskind 8. 2,951,766 10. 2,951,766 2,951,766 40.9%
Filing
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

Ditech Holding Corporation

(Name of Issuer)

 

Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

25501G105

(CUSIP Number)

 

Lance Friedler
c/o Phoenix Investment Adviser LLC

420 Lexington Avenue, Suite 2040

New York, NY 10170

(212) 359-6200

 

Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

 

July 18, 2018

 

(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. x

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent.

 

* 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 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 (however, see the Notes).

 
1.  Names of Reporting Persons.
JLP Credit Opportunity Master Fund Ltd
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
Cayman Islands

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
2,069,463
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
2,069,463
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
2,069,463
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
31.9%
14.  Type of Reporting Person
CO

 

CUSIP No.  25501G105 13D/A Page 2 of 9
 
1.  Names of Reporting Persons.
Mercer QIF Fund PLC - Mercer Investment Fund 1
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
Ireland

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
600,847
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
600,847
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
600,847
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
11.7%
14.  Type of Reporting Person
CO

 

CUSIP No.  25501G105 13D/A Page 3 of 9
 
1.  Names of Reporting Persons.
JLP Credit Opportunity IDF Series of SALI Multi-Series Fund, L.P.
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
Delaware

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
258,385
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
258,385
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
258,385
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)

5.3%

14.  Type of Reporting Person
PN

 

CUSIP No.  25501G105 13D/A Page 4 of 9
 
1.  Names of Reporting Persons.
JLP Partners Master Fund LP
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
Cayman Islands

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
23,071
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
23,071
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
23,071
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
0.5%
14.  Type of Reporting Person
PN

 

CUSIP No.  25501G105 13D/A Page 5 of 9
 
1.  Names of Reporting Persons.
Phoenix Investment Adviser, LLC
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
Delaware

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
2,951,766
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
2,951,766
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
2,951,766
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
o
13.  Percent of Class Represented by Amount in Row (11)
40.9%
14.  Type of Reporting Person
OO

 

CUSIP No.  25501G105 13D/A Page 6 of 9
 
1.  Names of Reporting Persons.
Jeffrey Peskind
 
2.  Check the Appropriate Box if a Member of a Group
(a) o
(b) o
 
3.  SEC Use Only
4.  Source of Funds
OO
5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
o
6.  Citizenship or Place of Organization
United States

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power
 
 
8.  Shared Voting Power
2,951,766
 
9.  Sole Dispositive Power
 
 
10.  Shared Dispositive Power
2,951,766
 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
2,951,766
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
o
13.  Percent of Class Represented by Amount in Row (11)
40.9%
14.  Type of Reporting Person
IN

 

CUSIP No.  25501G105 13D/A Page 7 of 9
 

This Amendment No. 1 to Schedule 13D supplements and amends the Statement on Schedule 13D filed on June 5, 2018, with respect to the Common Stock, par value $0.01 per share (the “Common Stock”), of Ditech Holding Corporation (the “Issuer”). This Amendment No. 1 is filed jointly by (i) JLP Credit Opportunity Master Fund Ltd (“COF”), (ii) Mercer QIF Fund PLC – Mercer Investment Fund 1 (“Mercer”), (iii) JLP Credit Opportunity IDF Series of SALI Multi-Series Fund, L.P. (“IDF”), (iv) JLP Partners Master Fund LP (“PF”), (v) Phoenix Investment Adviser LLC (“Phoenix”), and (vi) Jeffrey Peskind (collectively, the “Reporting Persons”).

 

Unless otherwise indicated, capitalized terms used but not otherwise defined herein shall have the meaning assigned to such terms in the Statement on Schedule 13D filed on June 5, 2018.

 

Responses to each item of this Amendment No. 1 to Schedule 13D are incorporated by reference into the response to each other item, as applicable.

 

ITEM 1. SECURITY AND ISSUER

 

ITEM 2. IDENTITY AND BACKGROUND

 

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

 

ITEM 4. PURPOSE OF TRANSACTION

 

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

 

Item 5 is hereby amended and supplemented by inserting the following:

 

On July 18, 2018, COF and IDF each sold 5,145 and 1,055 Series A Warrants, respectively, at a price of $1.0529 per share through an open market transaction. On July 19, 2018, COF and IDF each sold 1,000 and 200 Series A Warrants, respectively, at a price of $0.7042 per share through an open market transaction. Each Series A Warrant is exercisable for one share of Common Stock.

 

COF, Mercer, IDF, and PF are each holders of record of shares of Common Stock of the Issuer. Each of COF, Mercer, IDF, and PF disclaims beneficial ownership of any shares of Common Stock owned of record by the other, and each of Phoenix and Mr. Peskind disclaims beneficial ownership of any shares of Common Stock owned of record by COF, Mercer, IDF, and PF, in each case except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that any such entity is the beneficial owner of or has any pecuniary interest in, such securities for purposes of Section 16 of the Act, or for any other purpose.

 

(a)           See also the information contained on the cover pages of this Amendment No. 1 to Schedule 13D, which is incorporated herein by reference. The percentage of Common Stock reported as beneficially owned by each Reporting Person is based on 4,626,508 shares of Common Stock outstanding as of May 18, 2018 (as disclosed in the Issuer’s quarterly report on Form 10-Q filed with the SEC on June 6, 2018) and includes 2,590,849 shares of Common Stock underlying Mandatorily Convertible Preferred Stock, Series A Warrants, and Series B Warrants.

 

(b)           See also the information contained on the cover pages of this Amendment No. 1 to Schedule 13D, which is incorporated herein by reference.

 

(c)           Except as described in this Amendment No. 1 to Schedule 13D, no reportable transactions by the Reporting Persons have occurred with respect to the Common Stock of the Issuer since the Schedule 13D was filed on June 5, 2018.

 

(d)           Not applicable.

 

(e)           Not applicable.

 

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

 

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

 

CUSIP No.  25501G105 13D/A Page 8 of 9
 

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: July 20, 2018

       
  JLP CREDIT OPPORTUNITY MASTER FUND LTD
   
  By: /s/ Jeffrey Peskind
  Name: Jeffrey Peskind
  Title: Director
     
  MERCER QIF FUND PLC – MERCER INVESTMENT FUND 1
   
  By:  Phoenix Investment Adviser LLC,
    its sub adviser
     
    By:  /s/ Jeffrey Peskind
    Name: Jeffrey Peskind
    Title: Managing Member
     
  JLP CREDIT OPPORTUNITY IDF SERIES OF SALI MULTI-SERIES FUND, L.P.
     
  By: Phoenix Investment Adviser LLC,
    its sub adviser
     
    By: /s/ Jeffrey Peskind
    Name: Jeffrey Peskind
    Title: Managing Member
     
  JLP PARTNERS MASTER FUND LP
     
  By: Phoenix Capital Management LLC,
    its general partner
     
    By: /s/ Jeffrey Peskind
    Name: Jeffrey Peskind
    Title: Managing Member
     
  PHOENIX INVESTMENT ADVISER LLC
     
  By: /s/ Jeffrey Peskind
  Name: Jeffrey Peskind
  Title: Managing Member
     
  JEFFREY PESKIND
     
  /s/ Jeffrey Peskind

 

CUSIP No.  25501G105 13D/A Page 9 of 9