13D Filing: Blue Mountain Capital and Saexploration Holdings Inc. (NASDAQ:SAEX)

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Page 11 of 19 – SEC Filing

CUSIP No.   78636X204
1

NAMES OF REPORTING PERSONS

BlueMountain Summit Opportunities GP II, LLC

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See instructions)
     (a)   x (b)   o
  3 SEC USE ONLY
4 SOURCE OF FUNDS (See instructions)      WC
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, United States of America
NUMBER OF SHARES 7 SOLE VOTING POWER 0       
BENEFICIALLY OWNED 8 SHARED VOTING POWER 2,440,797(1)
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER 0     
PERSON WITH 10 SHARED DISPOSITIVE POWER 2,440,797(1)
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,440,797(1)
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 
(see Instructions)    o
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  6.5%(1)
14 TYPE OF REPORTING PERSON (See Instructions)  
  OO

(1)
The percentage set forth in Row 13 of this Cover Page is based on 34,977,087 shares of Common Stock
(as defined in Item 1) outstanding as of September 6, 2018, as disclosed in the Form 8-K filed by the Issuer on September 11,
2018.

BlueMountain Summit Trading L.P. (“BMST”)
is the direct owner of 160,171 shares of Common Stock, 151,711 Series C Warrants, 309,981 Series D Warrants and 1,818,934 Series
E Warrants

BlueMountain Summit Opportunities GP II, LLC
is the general partner of BMST and has an indirect profits interest in the securities beneficially owned by it.

At all times a holder of Series C Warrants,
Series D Warrants and/or Series E Warrants, who is not a beneficial owner of 10% or more of the outstanding Common Stock, may exercise
only up to that number of Series E Warrants so that, upon exercise, the aggregate beneficial ownership of Common Stock of such
holder and all persons affiliated with such holder, is not more than 9.99% of Common Stock then outstanding (other than in connection
with a change of control of the Issuer).

 

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