Cyrus Capital Partners Boosts Stake In Overseas Shipholding Group

Page 2 of 8 – SEC Filing
1

NAME OF REPORTING PERSONS

Cyrus Capital Partners, L.P.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) ☒

3 SEC USE ONLY

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING 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

12,016,565*

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

12,016,565*

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

12,016,565*

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item
5)

16.9%**

14

TYPE OF REPORTING PERSON

PN/IA

* The number of shares reported
in this Schedule 13D/A reflects: (i) the stock dividend of 0.01
share of Class A Common Stock paid on December 17, 2015 for each share of Class A Common Stock held by the Reporting Persons
as of the record date of December 3, 2015 (the “Stock Dividend“) and (ii) the 1-for-6 reverse stock split
effective on June 13, 2016 (the “Reverse Stock Split“). Includes 13,851,382 Warrants to purchase 2,636,376
shares of Class A Common Stock (see Item 6). However, the Warrants may be exercised subject to certain restrictions set forth in the terms of the Warrants and the Issuer’s organizational
documents.

 

** The applicable percentage beneficially
owned by the Reporting Persons as shown herein is computed based on an aggregate of 68,569,517 shares of Class A Common Stock
outstanding as of June 21, 2016 according to information provided by the Issuer to the Reporting Persons in writing.

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