Air Transport Services Group Inc. (ATSG): Red Mountain Capital Agrees to Sell 3.8 Million Shares Back to Company

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A newly-amended 13D filing with the US SEC revealed that Willem Mesdag‘s Red Mountain Capital has signed a Securities Purchase Agreement with Air Transport Services Group Inc. (NASDAQ:ATSG) upon which the fund agreed to sell to the company 3.83 million shares of the common stock at the price of $50.00 million. This transaction should be completed by July 5. Currently, Red Mountain Capital is the largest shareholder of Air Transport Services Group and owns 11.15 million shares, which account for 17.5% of the outstanding stock.

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Air Transport Services Group is an aviation holding company that provides professional services mainly in the air cargo transportation and package delivery domains. Year-to-date, the company’s stock is up by 31.55%. For the first quarter of 2016, the company disclosed earnings of $0.13 per share, and revenue of $177.4 million, which compares to $0.14 and $147 million, respectively, reported for the same period of the previous year.

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According to the Insider Monkey’s database, at the end of March, 18 investors were long Air Transport Services Group Inc. (NASDAQ:ATSG), versus 17 funds a quarter earlier. The largest position is held by Red Mountain Capital, while the second biggest position is disclosed by Phil Frohlich’s Prescott Group Capital Management, worth around $63.3 million. Some other institutional investors with similar bullishness contain Michael M. Rothenberg’s Moab Capital Partners, Gregg J. Powers’s Private Capital Management and Jim Simons’ Renaissance Technologies.

During the quarter, Israel Englander’s Millennium Management initiated the biggest position with $4.4 million invested in the company, and Richard Driehaus’s Driehaus Capital also initiated a position, worth around $3.1 million. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Matthew Hulsizer’s PEAK6 Capital Management, and Matthew Hulsizer’s PEAK6 Capital Management.

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
Red Mountain Capital Partners 11,152,425 11,152,425 11,152,425 17.5%
Red Mountain Partners 11,152,425 11,152,425 11,152,425 17.5%
RMCP GP 11,152,425 11,152,425 11,152,425 17.5%
Red Mountain Capital Management, Inc. 13-4057186 11,152,425 11,152,425 11,152,425 17.5%
Willem Mesdag 11,152,425 11,152,425 11,152,425 17.5%

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Page 1 of 10 – SEC Filing







Under the Securities Exchange Act of 1934

(Amendment No. 12)*





(Name of Issuer)

Stock, par value $0.01 per share

(Title of Class of Securities)


(CUSIP Number)

Red Mountain Capital Partners LLC

Attn: Willem Mesdag

10100 Santa Monica Boulevard, Suite 925

Los Angeles, California 90067

Telephone (310) 432-0200

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 21, 2016

of Event Which Requires Filing of this Statement)



If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ¨

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on 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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