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

Page 3 of 19

Page 3 of 19 – SEC Filing

CUSIP No.   78636X204
1

NAMES OF REPORTING PERSONS

BlueMountain GP Holdings, 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 1,976,336(1)
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER 0     
PERSON WITH 10 SHARED DISPOSITIVE POWER 1,976,336(1)
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,976,336(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)
  19.3%(1)
14 TYPE OF REPORTING PERSON (See Instructions)  
  OO

 (1) The
percentage set forth in Row 13 of this Cover Page is based on the 10,236,855 shares of Common Stock (as defined in Item
1) outstanding as of January 29, 2018, based on information from the Issuer and other publicly available information. The above
ownership excludes shares that may be received pursuant to (i) the conversion of the Series A perpetual convertible preferred stock
(the “Series A Preferred Stock”) into Common Stock, (ii) the conversion of the Series B convertible preferred stock
(the “Series B Preferred Stock”) into Common Stock, and (ii) the exercise of Series C Warrants to purchase shares of
Common Stock (the “Series C Warrants”). Please see Item 3 for a detailed description of the terms of the Series A Preferred
Stock, Series B Preferred Stock and Series C Warrants.

Follow Saexploration Holdings Inc. (NASDAQ:SAEX)








Page 3 of 19