Filing Details

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

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

(212) 359-6200

Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

 

November 28, 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
	265,822
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	265,822
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
265,822
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
4.9%
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
	147,053
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	147,053
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
147,053
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
2.8%
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
	71,170
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	71,170
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
71,170
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
1.4%
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
	0
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	0
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
0
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
x
13.  Percent of Class Represented by Amount in Row (11)
0.0%
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
	484,045
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	484,045
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
484,045
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
o
13.  Percent of Class Represented by Amount in Row (11)
8.5%
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
	484,045
	9.  Sole Dispositive Power
	10.  Shared Dispositive Power
	484,045
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
484,045
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
o
13.  Percent of Class Represented by Amount in Row (11)
8.5%
14.  Type of Reporting Person
IN

 

CUSIP No.  25501G105

13D/A

Page 7 of 9

This Amendment No. 3 to Schedule 13D supplements and amends the Statement on Schedule 13D filed on June 5, 2018, Amendment No. 1 thereto filed on July 20, 2018 and Amendment No. 2 thereto filed on November 2, 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. 3 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, Amendment No. 1 thereto filed on July 20, 2018, and Amendment No. 2 thereto filed on November 2, 2018.

 

Responses to each item of this Amendment No. 3 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 November 28, 2018, COF, Mercer, IDF, and PF sold 887,826, 190,635, 83,276, and 9,692 Series A Warrants, respectively, at $0.0001 per warrant in open market transactions. Also on November 28, 2018, COF, Mercer, IDF, and PF sold 709,347, 151,265, 67,073, and 7,690 Series B Warrants, respectively, at $0.0001 per warrant in open market transactions. As a result of these transactions, the Reporting Persons are no longer holders of record of Series A Warrants or Series B Warrants of the Issuer.

 

(a)            See also the information contained on the cover pages of this Amendment No. 3 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 5,189,300 shares of Common Stock outstanding as of November 9, 2018 (as disclosed in the Issuer’s quarterly report on Form 10-Q filed with the SEC on November 14, 2018).

 

(b)            See also the information contained on the cover pages of this Amendment No. 3 to Schedule 13D, which is incorporated herein by reference.

 

(c)            Except as described in this Amendment No. 3 to Schedule 13D, no reportable transactions by the Reporting Persons have occurred with respect to the Issuer’s Common Stock since Amendment No. 2 was filed on November 2, 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: November 30, 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