1
|
NAME OF REPORTING PERSON
Alden Global Opportunities 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
WC
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
7,913,500
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
7,913,500
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,913,500
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
|
||
14
|
TYPE OF REPORTING PERSON
PN
|
1
|
NAME OF REPORTING PERSON
Alden Global Capital LLC
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
- 0 -
|
|
8
|
SHARED VOTING POWER
7,913,500
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
7,913,500
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,913,500
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
|
||
14
|
TYPE OF REPORTING PERSON
IA, OO
|
1
|
NAME OF REPORTING PERSON
Heath Freeman
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
7,913,500
|
||
9
|
SOLE DISPOSITIVE POWER
- 0 -
|
||
10
|
SHARED DISPOSITIVE POWER
7,913,500
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,913,500
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.5%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
Item 1.
|
Security and Issuer.
|
Item 2.
|
Identity and Background.
|
|
(i)
|
Alden Global Opportunities Master Fund, LP, an exempted limited partnership organized under the laws of the Cayman Islands (“Alden Master Fund”);
|
|
(ii)
|
Alden Global Capital LLC, a Delaware limited liability corporation (“Alden”); and
|
|
(iii)
|
Heath Freeman, who serves as the President of Alden.
|
Item 3.
|
Source and Amount of Funds or Other Consideration.
|
Item 4.
|
Purpose of Transaction.
|
Item 5.
|
Interest in Securities of the Issuer.
|
A.
|
Alden Master Fund
|
|
(a)
|
As of the close of business on September 19, 2016, Alden Master Fund beneficially owned 7,913,500 Shares.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 7,913,500
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 7,913,500
|
|
(c)
|
The transactions in the Shares by Alden Master Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
|
B.
|
Alden
|
|
(a)
|
Alden, as the investment manager of Alden Master Fund, may be deemed the beneficial owner of the 7,913,500 Shares owned by Alden Master Fund.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 7,913,500
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 7,913,500
|
|
(c)
|
Alden has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Alden Master Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
|
C.
|
Mr. Freeman
|
|
(a)
|
Mr. Freeman, as the President of Alden, may be deemed the beneficial owner of 7,913,500 Shares owned by Alden Master Fund.
|
|
(b)
|
1. Sole power to vote or direct vote: 0
|
|
2. Shared power to vote or direct vote: 7,913,500
|
|
3. Sole power to dispose or direct the disposition: 0
|
|
4. Shared power to dispose or direct the disposition: 7,913,500
|
|
(c)
|
Mr. Freeman has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Alden Master Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.
|
|
(d)
|
No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
|
(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.
|
|
99.1
|
Joint Filing Agreement by and among Alden Global Opportunities Master Fund, LP, Alden Global Capital LLC and Heath Freeman, dated September 19, 2016.
|
Alden Global Opportunities Master Fund, LP
|
|||
By:
|
Alden Global Capital LLC
Investment Manager
|
||
By:
|
/s/ Heath Freeman
|
||
Name:
|
Heath Freeman
|
||
Title:
|
President
|
Alden Global Capital LLC
|
|||
By:
|
/s/ Heath Freeman
|
||
Name:
|
Heath Freeman
|
||
Title:
|
President
|
/s/ Heath Freeman
|
|
Heath Freeman
|
Shares of Common Stock
Purchased
|
Price Per
Share($)
|
Date of
Purchase
|
2,500,000
|
4.0930
|
09/08/2016
|
1,250,000
|
4.1580
|
09/08/2016
|
2,500,000
|
4.0870
|
09/08/2016
|
375,000
|
3.9140
|
09/09/2016
|
300,000
|
3.8590
|
09/12/2016
|
100,000
|
3.9100
|
09/13/2016
|
300,000
|
3.9880
|
09/14/2016
|
175,000
|
4.1000
|
09/15/2016
|
200,000
|
4.0870
|
09/16/2016
|
213,500
|
4.1520
|
09/19/2016
|