In a new filing with the Securities and Exchange Commission, Dov Gertzulin‘s DG Capital Management has revealed its passive stake in Aware, Inc. (NASDAQ:AWRE). According to the filing, DG currently owns over 1.97 million shares of Aware, which represent 8.6% of the company’s common stock. DG disclosed holding 2.03 million shares of Aware in its 13F filing for the third quarter of 2015.
You can access the original SEC filing by clicking here.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Aware, Inc.
————————————
(Name of Issuer)
Common Stock
————————————
(Title of Class of Securities)
05453N100
——————–
(CUSIP Number)
December 31, 2015
————————————————————-
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be “filed” for the purpose of Section 18 of the Securities Exchange Act of
1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
PAGE 1 OF 7 PAGES
——————————————————————————–
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DG Capital Management, LLC
——————————————————————————–
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
——————————————————————————–
3 SEC USE ONLY
——————————————————————————–
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
——————————————————————————–
5 SOLE VOTING POWER
0
NUMBER OF ———————————————————–
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,974,676*
EACH ———————————————————–
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
———————————————————–
8 SHARED DISPOSITIVE POWER
1,974,676*
——————————————————————————–
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,974,676*
——————————————————————————–
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
——————————————————————————–
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.6%
——————————————————————————–
12 TYPE OF REPORTING PERSON*
IA (Investment Adviser)
——————————————————————————–
PAGE 2 OF 7 PAGES
——————————————————————————–
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DG Value Partners II Master Fund, LP
——————————————————————————–
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
——————————————————————————–
3 SEC USE ONLY
——————————————————————————–
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
——————————————————————————–
5 SOLE VOTING POWER
0
NUMBER OF ———————————————————–
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,586,133*
EACH ———————————————————–
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
———————————————————–
8 SHARED DISPOSITIVE POWER
1,586,133*
——————————————————————————–
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,586,133*
——————————————————————————–
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
——————————————————————————–
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.9%
——————————————————————————–
12 TYPE OF REPORTING PERSON*
PN (Partnership)
——————————————————————————–
PAGE 3 OF 7 PAGES
——————————————————————————–
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dov Gertzulin
——————————————————————————–
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
——————————————————————————–
3 SEC USE ONLY
——————————————————————————–
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
——————————————————————————–
5 SOLE VOTING POWER
0
NUMBER OF ———————————————————–
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,974,676*
EACH ———————————————————–
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
———————————————————–
8 SHARED DISPOSITIVE POWER
1,974,676*
——————————————————————————–
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,974,676*
——————————————————————————–
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
——————————————————————————–
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.6%
——————————————————————————–
12 TYPE OF REPORTING PERSON*
IN (Individual)
——————————————————————————–
PAGE 4 OF 7 PAGES
Item 1(a) Name of Issuer:
Aware, Inc.
Item 1(b) Address of Issuer’s Principal Executive Offices:
40 Middlesex Turnpike
Bedford, Massachusetts 01730
Item 2(a) Name of Person Filing:
DG Capital Management, LLC
DG Value Partners II Master Fund, LP
Dov Gertzulin
Item 2(b) Address of the Principal Office or, if none, Residence:
460 Park Avenue, 22nd Floor
New York, NY 10022
Item 2(c) Citizenship:
DG Capital Management, LLC — Delaware, USA
DG Value Partners II Master Fund, LP — Cayman Islands
Dov Gertzulin — United States
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
05453N100
Item 3 If the Statement is being filed pursuant to Rule
13d-1(b), or 13d-2(b), check whether the person filing
is a:
(e) [X] An investment advisor in accordance with
section 240.13d-1(b)(1)(ii)(E)
Item 4 Ownership:
(a) Amount Beneficially Owned:
DG Capital Management, LLC 1,974,676
DG Value Partners II Master Fund, LP 1,586,133
Dov Gertzulin 1,974,476
(b) Percent of Class:
DG Capital Management, LLC 8.6%
DG Value Partners II Master Fund, LP 6.9%
Dov Gertzulin 8.6%
PAGE 5 OF 7 PAGES
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
DG Capital Management, LLC 0
DG Value Partners II Master Fund, LP 0
Dov Gertzulin 0
(ii) shared power to vote or direct the vote:
DG Capital Management, LLC 1,974,676
DG Value Partners II Master Fund, LP 1,586,133
Dov Gertzulin 1,974,476
(iii) sole power to dispose or to direct the
disposition of:
DG Capital Management, LLC 0
DG Value Partners II Master Fund, LP 0
Dov Gertzulin 0
(iv) shared power to dispose or to direct the
disposition of:
DG Capital Management, LLC 1,974,676
DG Value Partners II Master Fund, LP 1,586,133
Dov Gertzulin 1,974,476
*Shares reported herein are held by private investment funds (the “DG Entities”)
for which DG Capital Management, LLC serves as the investment manager. Dov
Gertzulin serves as the managing member of DG Capital Management, LLC. Each of
the Reporting Persons disclaims beneficial ownership of the shares reported
herein except to the extent of its or his pecuniary interest therein.
The percentages herein are calculated based upon a statement in the Issuer’s
Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 that
there were 22,929,901 shares of Common Stock issued and outstanding as of
October 23, 2015.
PAGE 6 OF 7 PAGES
Item 5 Ownership of Five Percent or Less of a Class: If this
statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be
the beneficial owner of more than five percent of the
class of securities, check the following [ ].
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
Not applicable.
Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company:
Not applicable.
Item 8 Identification and Classification of Members of the
Group:
Not applicable.
Item 9 Notice of Dissolution of a Group:
Not applicable.
Item 10 Certification:
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired and are held in the ordinary course of
business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing
the control of the issuer of such securities and were
were not acquired in connection with or as a participant
in any transaction having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: January 20, 2016
DG Capital Management, LLC
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Managing Member
DG Value Partners II Master Fund, LP
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Managing Member of the
General Partner, DG Capital Partners
II, LLC
Dov Gertzulin
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Individually
PAGE 7 OF 7 PAGES
EXHIBIT 1
JOINT FILING STATEMENT
STATEMENT PURSUANT TO RULE 13D-1(K)(1)
The undersigned hereby consent and agree to file a joint statement on Schedule
13G under the Securities Exchange Act of 1934, as amended, with respect to the
Common stock, $.01 par value,of Aware, Inc. beneficially owned by them, together
with any or all amendments thereto,when and if appropriate. The parties hereto
further consent and agree to file this Joint Filing Statement pursuant to
Rule13d-1(k)(1)(iii) as an exhibit to Schedule 13G, thereby incorporating the
same into such Schedule13G.
This Joint Filing Statement may be terminated by any of the undersigned upon
written notice or such lesser period of notice as the undersigned may mutually
agree.
Dated: January 20, 2016
DG Capital Management, LLC
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Managing Member
DG Value Partners II Master Fund, LP
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Managing Member of the
General Partner, DG Capital Partners
II, LLC
Dov Gertzulin
By: /S/ DOV GERTZULIN
————————————-
Name: Dov Gertzulin, Individually
