Page 4 of 5 – SEC Filing
Item 5. Interest in Securities of the Issuer.
Item 5 of the Prior Statement is hereby amended and restated to read as follows:
The aggregate percentage of shares of Common Stock reported as beneficially owned by Mr. Cooperman has been determined in accordance with SEC rules and is based upon 62,966,706 shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as reported in the Issuer’s Form 10-Q filed with the SEC on May 10, 2016. The applicable SEC rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities and include shares of Common Stock issuable upon the conversion or exercise of other securities that are immediately convertible or exercisable, or are convertible or exercisable within 60 days of the filing of this Report.
| (a) | Solely as a result of the Proxy Agreement, Mr. Cooperman may be deemed to beneficially own the shares of the Issuer’s Common Stock owned by the Glen Capital Group. As of the closing of business on July 7, 2016, Mr. Cooperman may be deemed the beneficial owner of 5,128,184 shares of the Issuer’s Common Stock, representing a beneficial ownership interest of approximately 8.1% of the outstanding shares of Common Stock. | |||
| (b) | 1. | Sole power to vote or direct vote: | 0 | |
| 2. | Shared power to vote or direct vote: | 0 | ||
| 3. | Sole power to dispose or direct the disposition: | 1,272,165 | ||
| 4. | Shared power to dispose or direct the disposition: | 0 | ||
| (c) | The following table details the transactions, all of which were purchases on the open market, effected by Mr. Cooperman in the past 60 days: | |||
| Transaction Date | Price Per Share | Number of Shares | ||||
| 07-Jul-16 | $3.9508 | 16,165 | ||||
| 06-Jul-16 | $3.9627 | 36,000 | ||||
| 05-Jul-16 | $3.9951 | 14,000 | ||||
| 30-Jun-16 | $3,9581 | 5,044 | ||||
| 29-Jun-16 | $3.9851 | 48,556 | ||||
| 27-Jun-16 | $3.9469 | 33,374 | ||||
| 24-Jun-16 | $3.9992 | 19,126 | ||||
| 16-Jun-16 | $4.0566 | 13,153 | ||||
| 14-Jun-16 | $4.0991 | 25,000 | ||||
| 19-May-16 | $4.0765 | 8,947 | ||||
| 18-May-16 | $4.1270 | 6,600 | ||||
| 17-May-16 | $4.1811 | 12,700 |
| (d) | Not applicable. | |||
| (e) | Not applicable. | |||
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