13D Filing: Piton Capital Partners Llc and Evolving Systems Inc (NASDAQ:EVOL)

Page 2 of 9 – SEC Filing

CUSIP No. 30049R209
            SCHEDULE 13D
Page 2 of 9 Pages
1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Piton Capital Partners LLC
47-3106673
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
3
SEC USE ONLY
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
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
660,872 shares of Common Stock (1)
8
SHARED VOTING POWER
-0-
9
SOLE DISPOSITIVE POWER
660,872 shares of Common Stock (1)
10
SHARED DISPOSITIVE POWER
-0-
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
660,872 shares of Common Stock (1)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3% of outstanding shares of Common Stock (2)
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO

 

(1) Piton Capital Partners LLC (the “Reporting Person”) is a pooled investment vehicle formed for the benefit of a single family and certain “key employees” (as defined in SEC Rule 202(a)(11)(G)-1 (the “Family Office Rule)) of Kokino LLC (“Kokino”).  The Reporting Person is managed by its managing member, Piton Capital Management LLC (“PCM”).  PCM is in turn managed by its managing member, Kokino.  Additionally, Kokino is the trading manager of the Reporting Person, and in that capacity Kokino acts on behalf of the Reporting Person as an agent.  Robert Averick, in his capacity as an employee of Kokino, manages the Reporting Person’s investment in the shares of Common Stock referenced above (the “Shares”). PCM, Kokino and Mr. Averick have no pecuniary interest in the shares of Common Stock beneficially owned by the Reporting Person, except that Mr. Averick currently holds a minority interest in the Reporting Person through PCM (which interest may increase or decrease from time to time).  PCM and Kokino are each a “family office” (as defined in the Family Office Rule) of the same family, and any voting power or investment power PCM, Kokino or Mr. Averick may hold over the Shares is ultimately attributed to the Reporting Person.
(2) This calculation is rounded to the nearest tenth and is based upon 12,462,692 shares of Common Stock outstanding, as reported in the Issuer’s Annual Report on Form 10-K filed on March 28, 2017.

 

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