Home > Insider Trading > Filing (0000902664-16-007418)

Filing Details

Accession Number:: 0000902664-16-007418
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-06-22 21:20:21
Reporting Period:: 2016-06-20

Filing Date:: 2016-06-22
Accepted Time:: 2016-06-22 21:20:21
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
75208	Overseas Shipholding Group Inc	OSGIQ	Deep Sea Foreign Transportation Of Freight (4412)	132637623

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1166564	Cyrus Capital Partners, L.p.	399 Park Avenue 39Th Floor New York NY 10022	Yes	No	Yes	Yes
1166774	Cyrus Capital Partners Gp, Llc	399 Park Avenue, 39Th Floor New York NY 10022	Yes	No	Yes	Yes
1251783	C Stephen Freidheim	C/O Cyrus Capital Partners, L.p. 399 Park Avenue, 39Th Floor New York NY 10022	Yes	No	Yes	Yes

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock, Par Value $0.01	Acquisiton	2016-06-20	323,705	$11.53	9,380,189	No	4	P	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnote

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Warrant	Acquisiton	2016-06-20	2,824,464	$2.19	537,589	$0.01
Class A Common Stock	Warrant	Acquisiton	2016-06-20	293,031	$2.19	55,773	$0.01
Class A Common Stock	Warrant	Acquisiton	2016-06-20	1,104,950	$2.19	210,308	$0.01
Class A Common Stock	Warrant	Acquisiton	2016-06-20	1,261,697	$2.19	240,142	$0.01

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
11,191,704	2039-08-05	No	4	P	Indirect
11,484,735	2039-08-05	No	4	P	Indirect
12,589,685	2039-08-05	No	4	P	Indirect
13,851,382	2039-08-05	No	4	P	Indirect

Footnotes

These shares of Common Stock were purchased by Cyrus Canary Fund, L.P.
The number of shares reported in this Form 4 reflects: (i) the 1-for-6 reverse stock split effective on June 13, 2016 (the "Reverse Stock Split") and (ii) the stock dividend of 0.01 share of Class A Common Stock 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").
As a result of the Stock Dividend, the Reporting Persons received 4,939,899 shares of Class A Common Stock (prior to giving effect to the Reverse Stock Split) in respect of the Stock Dividend.
9,380,189 shares of Class A Common Stock and 13,851,382 Warrants to purchase 2,636,376 shares of Class A Common Stock are held directly by: (i) Cyrus Polaris LLC, (ii) Cyrus Polaris II LLC, (iii) CYR Fund, L.P., (iv) Crescent 1, L.P. and (v) Cyrus Canary Fund, L.P (collectively, the "Cyrus Funds"). In addition, 33,333 shares of restricted Class A Common Stock are held by Cyrus Capital Partners, L.P ("CCP"). CCP serves as the investment manager to the Cyrus Funds. Cyrus Capital Partners GP, L.L.C. ("CCPGP") serves as the general partner of CCP. Stephen C. Freidheim serves as the principal of both CCP and CCPGP. All discretion over the investment activities of the Cyrus Funds has been delegated to CCP. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any.
These Warrants were purchased by Cyrus Polaris LLC.
The Warrants may be exercised only subject to certain restrictions set forth in the terms of the Warrants and the Issuer's organizational documents.
The number of shares underlying the Warrants reported in this Form 4 also reflects the cash dividend of $0.08 paid on March 25, 2016 for each share of Class A Common Stock held by the Reporting Persons as of the record date of March 18, 2016 (the "Cash Dividend"). In connection with the Stock Dividend and the Cash Dividend, in accordance with the terms of the Warrants, the Warrants automatically adjusted so that the Reporting Persons became entitled to receive, upon exercise, an aggregate of 1,188,148 additional shares of Class A Common Stock (prior to giving effect to the Reverse Stock Split) in respect of both the Stock Dividend and the Cash Dividend.
These Warrants were purchased by Cyrus Polaris II, LLC.
These Warrants were purchased by CYR Fund, L.P.
These Warrants were purchased by Cyrus Canary Fund, L.P.