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13G Filing: Tappan Street Partners and Peregrine Pharmaceuticals Inc (PPHM)

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
Tappan Street Partners 0 2,231,577 0 2,231,577 2,231,577 4.95%
Tappan Street Partners Fund 0 1,540,000 0 1,540,000 1,540,000 3.42%
Tappan Street Partners Ideas Fund 0 691,577 0 691,577 691,577 1.53%
Prasad Phatak 67,107 2,231,577 67,107 2,231,577 2,298,684 5.10%
Prasad Phatak And Chris Koranda
Prasad Phatak And Chris Koranda
Tappan Street Partners

Page 1 of 9 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under
the Securities Exchange Act of 1934*

(Amendment
No. 1)

 

 
Peregrine
Pharmaceuticals, Inc.

(Name
of Issuer)

 

Common
Stock ($0.001 par value)

(Title
of Class of Securities)

 

713661502

(CUSIP
Number)

 

July
11, 2017
(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 9 – SEC Filing

 

CUSIP
No
.
713661502   Page
2 of 9

 

1

NAME
OF REPORTING PERSONS
Tappan Street Partners LLC

 

I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 45-2662859

 
2 CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)

(b)

3 SEC
USE ONLY
 
4

CITIZENSHIP
OR PLACE OF ORGANIZATION

Delaware,
United States of America

 

NUMBER
OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE
VOTING POWER

0

 
6

SHARED
VOTING POWER

2,231,577*

 
7

SOLE
DISPOSITIVE POWER

0

 
8

SHARED
DISPOSITIVE POWER

2,231,577*

 
9

AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,231,577

 
10 CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9

4.95%†

 
12

TYPE
OF REPORTING PERSON

IA

 
         

*
Tappan Street Partners LLC is the investment manager of the Tappan Street Partners Fund L.P. (the “Fund”) and the
Tappan Street Partners Ideas Fund L.P. (the “Ideas Fund” and together with the Fund, the “Funds”) in which
such shares referred to above are held. As a result, Tappan Street Partners LLC possesses the power to vote and dispose or direct
the disposition of all the shares owned by the Funds. Thus, Tappan Street Partners LLC may be deemed to beneficially own a total
of 2,231,577 shares.

 

†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.

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Page 3 of 9 – SEC Filing

 

 

CUSIP
No
.
713661502   Page
3 of 9

 

1

NAME
OF REPORTING PERSONS
Tappan Street Partners Fund L.P.

 

I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 45- 2663014

 
2 CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)

(b)

3 SEC
USE ONLY
 
4

CITIZENSHIP
OR PLACE OF ORGANIZATION

Delaware,
United States of America

 

NUMBER
OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE
VOTING POWER

0

 
6

SHARED
VOTING POWER

1,540,000

 
7

SOLE
DISPOSITIVE POWER

0

 
8

SHARED
DISPOSITIVE POWER

1,540,000

 
9

AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,540,000

 
10 CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9

3.42%†

 
12

TYPE
OF REPORTING PERSON

PN

 
         

†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.

 

 

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Page 4 of 9 – SEC Filing

 

CUSIP
No
.
713661502   Page
4 of 9

 

1

NAME
OF REPORTING PERSONS

Tappan
Street Partners Ideas Fund L.P.

 

I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 82-1702999

 
2 CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)

(b)

3 SEC
USE ONLY
 
4

CITIZENSHIP
OR PLACE OF ORGANIZATION

Delaware,
United States of America

 

NUMBER
OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE
VOTING POWER

0

 
6

SHARED
VOTING POWER

691,577

 
7

SOLE
DISPOSITIVE POWER

0

 
8

SHARED
DISPOSITIVE POWER

691,577

 
9

AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

691,577

 
10 CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9

1.53%†

 
12

TYPE
OF REPORTING PERSON

PN

 
         

†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.

 

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Page 5 of 9 – SEC Filing

 

CUSIP
No
.
713661502   Page
5 of 9

 

1

NAME
OF REPORTING PERSONS
Prasad Phatak

 

I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY)

 
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 of America

 

NUMBER
OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE
VOTING POWER

67,107

 
6

SHARED
VOTING POWER

2,231,577*

 
7

SOLE
DISPOSITIVE POWER

67,107

 
8

SHARED
DISPOSITIVE POWER

2,231,577*

 
9

AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,298,684*

 
10 CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.10%†

 
12

TYPE
OF REPORTING PERSON

IN

 
         

*
Mr. Phatak is the managing member of Tappan Street Partners LLC. As a result, Mr. Phatak possesses the power to vote and dispose
or direct the disposition of all the shares beneficially owned by Tappan Street Partners LLC as investment manager to the Funds.
Mr. Phatak disclaims beneficial ownership of any of the shares held by the Funds.

 

 

†Based
on a total of 45,069,188 Shares outstanding of the Issuer as of July 11, 2017, as set forth in the Issuer’s most recent
Form 10-K, filed July 14, 2017.

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Page 6 of 9 – SEC Filing

 

 

CUSIP
No
.
713661502   Page
6 of 9

 

Item
1(a).
  Name
of Issuer:
Peregrine Pharmaceuticals, Inc.
     
Item
1(b).
 

Address
of Issuer’s Principal Executive Offices:
14282 Franklin Avenue,

Tustin,
California 92780

     
Item
2(a).
  Name
of Person Filing:
Tappan Street Partners LLC
    Tappan
Street Partners Fund L.P.
    Tappan
Street Partners Ideas Fund L.P.
    Prasad
Phatak
     
Item
2(b).
  Address
of Principal Business Office or, if None, Residence:
    33
Irving Place, Third Floor, New York, NY 10003
     
Item
2(c).
  Citizenship:
Tappan Street Partners, LLC is a Delaware limited liability company. Tappan Street Partners Fund, L.P. is a Delaware limited
partnership. Tappan Street Partners Ideas Fund, L.P. is a Delaware limited partnership. Mr. Phatak is a United States citizen.
     
Item
2(d).
  Title
of Class of Securities:
Common Stock ($0.001 par value)
     
Item
2(e).
  CUSIP
Number:
731661502
     
Item
3.
If
This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
   
  (a) Broker
or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
       
  (b) Bank
as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
       
  (c) Insurance
company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
       
  (d) Investment
company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
       
  (e) An
investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
       
  (f) An
employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
       
  (g) A
parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
       
  (h) A
savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
       
  (i) A
church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company
Act (15 U.S.C. 80a-3);
       
  (j) Group,
in accordance with §240.13d-1(b)(1)(ii)(J).

 

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Page 7 of 9 – SEC Filing

 

 

CUSIP
No
.
713661502   Page
7 of 9

 

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) Amount
beneficially owned:
Aggregate of all filers—2,298,684
    Tappan
Street Partners LLC —2,231,577
    Tappan
Street Partners Fund L.P. —1,540,000
    Tappan
Street Partners Ideas Fund L.P. —691,577
    Prasad
Phatak—2,298,684*
     
  (b) Percent
of class:
Aggregate of all filers—5.10%
    Tappan
Street Partners LLC—4.95%
    Tappan
Street Partners Fund L.P.—3.42%
    Tappan
Street Partners Ideas Fund L.P. ——1.53%
    Prasad
Phatak—5.10%*
     
  (c) Number
of shares as to which such person has:
     
    (i) Sole
power to vote or to direct the vote:
      Tappan
Street Partners LLC —0
      Tappan
Street Partners Fund L. P. —0
      Tappan
Street Partners Ideas Fund L. P. —0
      Prasad
Phatak—67,107
       
    (ii) Shared
power to vote or to direct the vote:
      Tappan
Street Partners LLC —2,231,577
      Tappan
Street Partners Fund L. P. —1,540,000
      Tappan
Street Partners Ideas Fund L. P. —691,577
      Prasad
Phatak—2,231,577*
       
    (iii) Sole
power to dispose or to direct the disposition of
      Tappan
Street Partners LLC —0
      Tappan
Street Partners Fund L. P. —0
      Tappan
Street Partners Ideas Fund L. P. —0
      Prasad
Phatak—67,107
       
    (iv) Shared
power to dispose or to direct the disposition of:
      Tappan
Street Partners LLC —2,231,577
      Tappan
Street Partners Fund L. P. —1,540,000
      Tappan
Street Partners Ideas Fund L. P. —691,577
      Prasad
Phatak—2,231,577*
       
       

*Mr.
Phatak is the managing member of Tappan Street Partners LLC. As a result, Mr. Phatak possesses the power to vote and dispose or
direct the disposition of all the shares beneficially owned by Tappan Street Partners LLC as investment manager to the Funds.
Mr. Phatak disclaims beneficial ownership of any of the shares held by the Funds.

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Page 8 of 9 – SEC Filing

 

CUSIP
No
.
713661502   Page
8 of 9

 

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 or Control
Person.
  Not
applicable
   
Item
8.
Identification
and Classification of Members of the Group.
  Not
applicable
   
Item
9.
Notice
of Dissolution of 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 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, other than
activities solely in connection with a nomination under § 240.14a-11.

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.

Date: August
14, 2017
   
Signature: /s/  Prasad
Phatak
Name: Prasad
Phatak
   

TAPPAN
STREET PARTNERS FUND L.P.

Date:

August
14, 2017

 
By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC, investment adviser to Tappan Street Partners Fund L.P.
 

TAPPAN
STREET PARTNERS IDEAS FUND L.P.

Date:

August
14, 2017

 

By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC, investment adviser to Tappan Street Partners Ideas Fund L.P.
 

TAPPAN
STREET PARTNERS, LLC

Date:

August
14, 2017

   
By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC

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Page 9 of 9 – SEC Filing

 

 

CUSIP
No
.
713661502   Page
9 of 9

 

 

 

EXHIBIT
A

 

Joint
Filing Agreement

 

The
Undersigned agree that the statements on Schedule 13G with respect to the common stock of Peregrine Pharmaceuticals, Inc. dated
as of August ___, 2017, is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of them
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

 

Date: August
14, 2017
 
Signature: /s/ Prasad
Phatak
Name: Prasad
Phatak
   

TAPPAN
STREET PARTNERS FUND L.P.

Date:

August
14, 2017

 
By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC Investment Adviser to Tappan Street Partners Fund L.P.
 

TAPPAN
STREET PARTNERS IDEAS FUND L.P.

Date:

August
14, 2017

 
By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC Investment Adviser to Tappan Street Partners Ideas Fund L.P.
 

TAPPAN
STREET PARTNERS LLC

Date:

August
14, 2017

   
By: /s/
Prasad Phatak
Name: Prasad
Phatak
Title: Managing
Member of Tappan Street Partners LLC
   

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