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Filing Details

Accession Number:: 0001181431-13-034800
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-06-13 17:46:50
Reporting Period:: 2013-06-11

Filing Date:: 2013-06-13
Accepted Time:: 2013-06-13 17:46:50
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1487685	Greektown Superholdings Inc.	NONE	Hotels & Motels (7011)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
941670	Daniel Gilbert	1050 Woodward Avenue Detroit MI 48226		Yes	No	Yes	No
1569010	Athens Acquisition Llc	1086 Woodward Avenue Detroit MI 48226		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Series A-1 Common Stock	Acquisiton	2013-06-11	13,413	$90.00	104,501	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Series A-1 Common Stock	Series A-1 Preferred Stock	Acquisiton	2013-06-11	246,100	$90.00	307,100	$100.00
Series A-1 Common	Series A-1 Preferred Stock	Acquisiton	2013-06-11	94,999	$90.00	118,546	$100.00
Series A-2 Common Stock	Series A-2 Preferred Stock	Acquisiton	2013-06-11	121,676	$90.00	151,835	$100.00
Series A-2 Preferred Stock	Series A-2 Preferred Warrants	Acquisiton	2013-06-11	273,930	$90.00	273,930	$2,739.30

Remaning Holdings	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,368,536	No	4	X	Direct
1,463,535	No	4	X	Direct
162,255	No	4	X	Direct
460,587	No	4	X	Direct

Footnotes

As previously reported, on April 26, 2013, Athens Acquisition, LLC ("Athens") entered into an Investor Rights Agreement (the "Investor Rights Agreement") with Brigade Leveraged Capital Structures Fund Ltd. ("Brigade") Brigade and certain entities affiliated with Standard General LP (collectively, "Standard General"). The Investor Rights Agreement contains a provision whereby the investor party thereto would have the non-transferable right to sell to Athens all securities of the Issuer held by such investor on the date of the Investor Rights Agreement for an amount equal to $90 per share (or less per share if the investor exercises a "Conversion Right" under the Issuer's charter) (the "Sale Right").
As previously reported, on April 25, 2013, Standard General executed the Investor Rights Agreement, and also exercised the Sale Right by delivering to Athens a "Sale Right Exercise Notice" pursuant to the terms of the Investor Rights Agreement with respect to all of the securities of the Issuer then held by Standard General, which securities consisted of an aggregate of: (x) 246,100 shares of Series A-1 Preferred Stock and (y) 13,413 shares of Series A-1 Common Stock (collectively, the "Standard General Shares").
On June 11, 2013, the Michigan Gaming Control Board approved the consummation of the purchase and sale of the Standard General Shares to Athens pursuant to the exempt exercise of the Sale Right by Standard General.
Referred to in the Issuer's Certificate of Incorporation as "Series A Conversion Price."
Subject to regulatory approval as provided in the Issuer's Certificate of Incorporation, the shares of Series A-1 Preferred Stock and Series A-2 Preferred Stock are convertible at any time and have no expiration date.
As the sole member of Athens, Daniel Gilbert ("Mr. Gilbert") may be deemed to be the indirect beneficial owner (as determined under Section 13(d) of the Securities Exchange Act of 1934, as amended) of any securities beneficially owned by Athens.
Each of the Reporting Persons disclaims beneficial ownership of the securities reported hereon except to the extent of their respective pecuniary interest therein.
As previously reported, on May 16, 2013, Brigade exercised the Sale Right by delivering to Athens a "Sale Right Exercise Notice" pursuant to the terms of the Investor Rights Agreement with respect to all of the securities of the Issuer then held by Brigade, which securities consisted of an aggregate of: (x) 94,999 shares of Series A-1 Preferred Stock, (y) 121,676 shares of Series A-2 Preferred Stock, and (z) warrants to purchase 273,930 shares of Series A-2 Preferred Stock (collectively, the "Brigade Shares").
On June 11, 2013, the Michigan Gaming Control Board approved the consummation of the purchase and sale of the Brigade Shares to Athens pursuant to the exempt exercise of the Sale Right by Brigade.
Series A-2 Preferred Warrants must be exercised within 30 days following the date the holder receives notice from the Issuer that it is not prohibited by Article Twelfth of the Issuer's Certificate of Incorporation from exercising such warrant.