We have a fresh 13G filing embedded below and on the coming pages, issued by Leon Cooperman‘s Omega Advisors. The filing, on Nordic American Offshore Ltd (NYSE:NAO), reveals the investor’s most up-to-date investment position in the stock, which amounts to 3.67 million shares, unchanged from the end of 2015. However, Cooperman’s percentage of ownership has dipped to 15.7% from 16.1%, presumably upon the issuance of more shares by Nordic American early this year. Be sure to check out the table below, as well as the filing itself for all of the details.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| LEON G. COOPERMAN | 2,624,000 | 1,044,679 | 2,624,000 | 1,600,000 | 3,668,679 | 15.7% |
| OMEGA CHARITABLE PARTNERSHIP | 0 | 1,600,000 | 0 | 1,044,679 | 1,600,000 | 6.8% |
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Page 1 of 7 SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act
of 1934
(Amendment No _)*
| NORDIC AMERICAN OFFSHORE LTD |
| (Name of Issuer) |
| Common Stock, par value $0.01 per share |
| (Title of Class of Securities) |
| Y6366T112 |
| (CUSIP Number) |
| February 11, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate
the rule pursuant to which this Schedule is filed:
| ☐ | 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).
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Page 2 of 7 SEC Filing
| CUSIP No. | Y6366T112 | Page 2 of 5 |
| 1 | NAME OF REPORTING PERSONS | LEON G. COOPERMAN | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | United States | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | 2,624,000 | |
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 1,044,679 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | 2,624,000 | |
| PERSON WITH: | 8 | SHARED DISPOSITIVE POWER | 1,600,000 | |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING | 3,668,679 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 15.7 % | ||
| 12 | TYPE OF REPORTING PERSON | IN | ||
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Page 3 of 7 SEC Filing
| CUSIP No. | Y6366T112 | Page 2 of 5 |
| 1 | NAME OF REPORTING PERSONS | OMEGA CHARITABLE PARTNERSHIP LP EIN 45-5226952 | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) (b) | ||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | United States | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | -0- | |
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 1,600,000 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | -0- | |
| PERSON WITH: | 8 | SHARED DISPOSITIVE POWER | 1,044,679 | |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING | 1,600,000 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES | ☐ | ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 | 6.8 % | ||
| 12 | TYPE OF REPORTING PERSON | PN | ||
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Page 4 of 7 SEC Filing
| CUSIP No. | Y6366T112 | Page 3 of 5 |
.
| Item 1(a). | Name of Issuer: | |
| This statement on Schedule 13G relates to the common stock, par value $0.01 per share, of NORDIC AMERICAN OFFSHORE LTD (the “Issuer”). It amends the Schedule 13D amendment #1 filed November 16, 2015 and the Schedule 13D filed June 23, 2014. The switch herein from Schedule 13D to Schedule 13G is being made pursuant to Rule 13d-1(h) and the SEC Interpretation 103.07 issued on January 3, 2014. | ||
| Item 1(b). | Address of Issuer’s Principal Executive Offices: | |
| The Issuer was incorporated in the Republic of the Marshall Islands. The address of the principal executive office of the Issuer is c/o Scandic American Shipping LTD., Canon’s Court, 22 Victoria Street, Hamilton HM EX, Bermuda. | ||
| Item 2(a). | Name of Person Filing: | |
| Leon G. Cooperman (“Mr. Cooperman”) Mr. Cooperman is the President, Advisors serves as the investment Advisors serve as a discretionary Mr. Cooperman is the ultimate controlling | ||
| Item 2(b). | Address of Principal Business Office or, if None, Residence: | |
| 11431 W. Palmetto Park Road, Boca Raton FL 33428. See Item 1(b) above for Charitable. | ||
| Item 2(c). | Citizenship: | |
| United States. See Item 1(b) above for Charitable. | ||
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Page 5 of 7 SEC Filing
| CUSIP No. | Y6366T112 | Page 4 of 5 |
| Item 2(d). | Title of Class of Securities: |
| Common Stock, par value $0.01 per share ( the “Shares”) | |
| Item 2(e). | CUSIP Number: |
| Y6366T112 | |
| Item 3. | If this Statement is Filed Pursuant to Sections 240.13d-1(b), or 240.13d-2(b) or (c); |
| This Item 3 is inapplicable. |
| Item 4. | Ownership. |
| Provide the following information regarding the aggregate number and percentage of the class of securities of the Issuer identified in Item 1. |
| (a)(b) | Amount beneficially owned and percent of Class: | ||
| Mr. Cooperman may be deemed the beneficial owner of 3,668,679 Shares, which constitutes approximately 15.7 % of the total number of Shares outstanding. Charitable may be deemed the beneficial owner of approximately 5.8% of the total number of Shares outstanding This consists of 1,600,000 Shares owned by Charitable; 1,024,000 Shares owned by Overseas; and 1,044,679 Shares owned by Managed Accounts. | |||
| (c) | Number of shares as to which such person has: | ||
| (i) | Sole power to vote or to direct the vote | ||
| 2,624,000 | |||
| (ii) | Shared power to vote or to direct the vote | ||
| 1,044,679 | |||
| (iii) | Sole power to dispose or to direct the disposition of | ||
| 2,624,000 | |||
| (iv) | Shared power to dispose or to direct the disposition of | ||
| 1,044,679 | |||
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Page 6 of 7 SEC Filing
| CUSIP No. | Y6366T112 | Page 5 of 5 |
| 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. |
| This Item 6 is not applicable. | |
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
| This Item 7 is not applicable. | |
| Item 8. | Identification and Classification of Members of the Group. |
| This Item 8 is not applicable. | |
| Item 9. | Notice of Dissolution of Group. |
| This Item 9 is 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 not acquired and are not held for the purpose of or with the effect of changing
or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect.
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: February 16, 2016
LEON G. COOPERMAN
By: /s/ ALAN M. STARK
Alan M. Stark
Attorney-in-Fact
Duly authorized under POA effective as of March 1, 2013 and filed
on May 20, 2013.
Omega Charitable Partnership L.P
By: Omega Associates, LLC
By: LEON G. COOPERMAN, General
Partner
By: /s/ ALAN M. STARK
Alan M. Stark
Attorney-in-Fact
Duly authorized under POA effective as of March 1, 2013 and filed
on May 20, 2013.
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Page 7 of 7 SEC Filing
EXHIBIT 1 – JOINT FILING AGREEMENT PURSUANT TO
RULE 13d-1(k)(1) and POWER OF ATTORNEY
The undersigned persons hereby agree that reports
on Schedule 13D and 13G and amendments thereto, with respect to the Common Stock of NORDIC AMERICAN OFFSHORE LTD may
be filed in a single statement on behalf of each of such persons, and further, each of such persons designates Alan
M. Stark as his/its agent and Attorney-in-Fact for the purpose of executing any and all Schedule 13D and 13G filings required to
be made by it with the Securities and Exchange Commission.
Dated: February 16, 2016/s/ LEON G. COOPERMAN
Dated: February 16, 2016
The Leon and Toby Cooperman Family Foundation
| By /s/ LEON G. COOPERMAN, Trustee |
