MSD Partners, a fund that was founded to manage Michael Dell’s money and led by Glenn Fuhrman and John Phelan, has reported a 5.94% position in Ring Energy Inc (NYSEMKT:REI). The stake contains 2.49 million shares of the company, which represent an increase from 1.09 million shares MSD Capital held at the end of 2015.
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Ring Energy Inc (NYSEMKT:REI) is a $265 million exploration and production company, whose stock has lost over 43% in the last year. In April, the company conducted an underwritten public offering of 11.50 million shares at $5.60 per unit, which resulted in total net proceeds of $61 million. Among other things, Ring Energy plans to use the proceeds to launch a horizontal drilling development program and repay debt under its revolving credit facility.
Overall, seven funds among those we track reported stakes in Ring Energy Inc (NYSEMKT:REI) as of the end of 2015, up by two over the quarter. Talara Capital Management, managed by David Zusman, reported the laregest position that was worth $10.7 million position. Some other hedge funds and institutional investors that held long positions encompass GLG Partners and J. Carlo Cannell’s Cannell Capital.
Among the funds that initiated positions in Ring Energy Inc (NYSEMKT:REI) during the last quarter of 2015 is Israel Englander’s Millennium Management, which had a $100,000 stake invested in the company at the end of the quarter.
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 |
|---|---|---|---|---|---|---|
| MSD Partners | 0 | 2,488,266 | 0 | 2,488,266 | 2,488,266 | 5.94% |
| MSD Credit Opportunity Master Fund | 0 | 2,488,266 | 0 | 2,488,266 | 2,488,266 | 5.94% |
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Page 1 of 7 – SEC Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
| SCHEDULE 13G (Rule 13d-102) |
| Information to be Included in Statements Filed Pursuant to Rules 13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to Rule 13d-2(b) (Amendment No. 2)* |
| Ring Energy, Inc. |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| 76680V108 |
| (CUSIP Number) |
| April 21, 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:
| o | Rule 13d-1(b) | ||
| x | Rule 13d-1(c) | ||
| o | 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 (the “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. | 76680V108 | 13G |
| 1 | NAMES OF REPORTING PERSONS | |||||
| MSD Partners, L.P. | ||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | (a) ☐ | ||||
| (b) ☒ | ||||||
| 3 | SEC USE ONLY | |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | |||||
| Delaware | ||||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER | ||||
| -0- | ||||||
| 6 | SHARED VOTING POWER | |||||
| 2,488,266 | ||||||
| 7 | SOLE DISPOSITIVE POWER | |||||
| -0- | ||||||
| 8 | SHARED DISPOSITIVE POWER | |||||
| 2,488,266 | ||||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |||||
| 2,488,266 | ||||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | ||||
| 11 | PERCENT OF CLASS REPRESENTED IN ROW (9) | |||||
| 5.94% 1 | ||||||
| 12 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | |||||
| PN | ||||||
| * | SEE INSTRUCTIONS BEFORE FILLING OUT. |
| 1 | The percentage used above is calculated based on 41,896,942 shares of common stock outstanding as of April 21, 2016, as reported in the Company’s Prospectus Supplement filed with the Commission on April 22, 2016. |
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Page 3 of 7 – SEC Filing
| CUSIP NO. | 76680V108 | 13G |
| 1 | NAMES OF REPORTING PERSONS | |||||
| MSD Credit Opportunity Master Fund, L.P. | ||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | (a) ☐ | ||||
| (b) ☒ | ||||||
| 3 | SEC USE ONLY | |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION | |||||
| Cayman Islands | ||||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER | ||||
| -0- | ||||||
| 6 | SHARED VOTING POWER | |||||
| 2,488,266 | ||||||
| 7 | SOLE DISPOSITIVE POWER | |||||
| -0- | ||||||
| 8 | SHARED DISPOSITIVE POWER | |||||
| 2,488,266 | ||||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |||||
| 2,488,266 | ||||||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ☐ | ||||
| 11 | PERCENT OF CLASS REPRESENTED IN ROW (9) | |||||
| 5.94% 1 | ||||||
| 12 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | |||||
| PN | ||||||
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Page 4 of 7 – SEC Filing
| CUSIP NO. | 76680V108 | 13G |
| Item 1(a) | Name of Issuer: | |||
| The name of the issuer is Ring Energy, Inc. (the “Company“). | ||||
| Item 1(b) | Address of Issuer’s Principal Executive Offices: | |||
| The Company’s principal executive office is located at 200 N. Loraine Street, Suite 1245, Midland, TX 79701. | ||||
| Item 2(a) | Name of Person Filing: | |||
| This Schedule 13G is being jointly filed by and on behalf of each of MSD Partners, L.P., formerly named MSDC Management, L.P. (“MSD Partners”) and MSD Credit Opportunity Master Fund, L.P. (collectively, the “Reporting Persons”). MSD Partners is the investment manager of, and may be deemed to beneficially own securities beneficially owned by MSD Credit Opportunity Master Fund, L.P. MSD Partners (GP), LLC (“MSD GP”) is the general partner of, and may be deemed to beneficially own securities beneficially owned by, MSD Partners. Each of Glenn R. Fuhrman and Marc R. Lisker is a manager of, and may be deemed to beneficially own securities beneficially owned by, MSD GP. The Reporting Persons have entered into a Joint Filing Agreement, dated May 2, 2016, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which the Reporting Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act. | ||||
| Item 2(b) | Address of Principal Business Office or, if none, Residence: | |||
| The address of the principal business office of MSD Partners is 645 Fifth Avenue, 21st Floor, New York, New York 10022. The address of the principal business office of MSD Credit Opportunity Master Fund, L.P. is c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. | ||||
| Item 2(c) | Citizenship: | |||
| MSD Partners is organized as a limited partnership under the laws of the State of Delaware. MSD Credit Opportunity Master Fund, L.P. is a limited partnership organized under the laws of the Cayman Islands. | ||||
| Item 2(d) | Title of Class of Securities: | |||
| Common Stock | ||||
| Item 2(e) | CUSIP No.: | |||
| 76680V108 | ||||
| Item 3 | If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether theperson filing is a: | |||
| Not applicable. | ||||
| Item 4 | Ownership: | |||||
| A. MSD Partners, L.P. | ||||||
| (a) | Amount beneficially owned: 2,488,266 | |||||
| (b) | Percent of class: 5.94% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | Sole power to vote or direct the vote: -0- | |||||
| (ii) | Shared power to vote or direct the vote: 2,488,266 | |||||
| (iii) | Sole power to dispose or direct the disposition: -0- | |||||
| (iv) | Shared power to dispose or direct the disposition: 2,488,266 | |||||
| B. MSD Credit Opportunity Master Fund, L.P. | ||||||
| (a) | Amount beneficially owned: 2,488,266 | |||||
| (b) | Percent of class: 5.94% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | Sole power to vote or direct the vote: -0- | |||||
| (ii) | Shared power to vote or direct the vote: 2,488,266 | |||||
| (iii) | Sole power to dispose or direct the disposition: -0- | |||||
| (iv) | Shared power to dispose or direct the disposition: 2,488,266 | |||||
| C. MSD Partners (GP), LLC. | ||||||
| (a) | Amount beneficially owned: 2,488,266 | |||||
| (b) | Percent of class: 5.94% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | Sole power to vote or direct the vote: -0- | |||||
| (ii) | Shared power to vote or direct the vote: 2,488,266 | |||||
| (iii) | Sole power to dispose or direct the disposition: -0- | |||||
| (iv) | Shared power to dispose or direct the disposition: 2,488,266 | |||||
| D. Glenn R. Fuhrman | ||||||
| (a) | Amount beneficially owned: 2,488,266 | |||||
| (b) | Percent of class: 5.94% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | Sole power to vote or direct the vote: -0- | |||||
| (ii) | Shared power to vote or direct the vote: 2,488,266 | |||||
| (iii) | Sole power to dispose or direct the disposition: -0- | |||||
| (iv) | Shared power to dispose or direct the disposition: 2,488,266 | |||||
| E. Marc R. Lisker | ||||||
| (a) | Amount beneficially owned: 2,488,266 | |||||
| (b) | Percent of class: 5.94% | |||||
| (c) | Number of shares as to which such person has: | |||||
| (i) | Sole power to vote or direct the vote: -0- | |||||
| (ii) | Shared power to vote or direct the vote: 2,488,266 | |||||
| (iii) | Sole power to dispose or direct the disposition: -0- | |||||
| (iv) | Shared power to dispose or direct the disposition: 2,488,266 | |||||
| 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 each of the Reporting Persons 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 participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. | ||||
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Page 5 of 7 – SEC Filing
| CUSIP NO. | 76680V108 | 13G |
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.
Date: May 2, 2016
| MSD Partners, L.P. | |||
| By: | MSD Partners (GP), LLC | ||
| Its: | General Partner | ||
| By: | /s/ Marc R. Lisker | ||
| Name: | Marc R. Lisker | ||
| Title: | Manager | ||
| MSD Credit Opportunity Master Fund, L.P. | |||
| By: | MSD Partners, L.P. | ||
| Its: | Investment Manager | ||
| By: | MSD Partners (GP), LLC | ||
| Its: | General Partner | ||
| By: | /s/ Marc R. Lisker | ||
| Name: | Marc R. Lisker | ||
| Title: | Manager | ||
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Page 6 of 7 – SEC Filing
EXHIBIT INDEX
| Exhibit | Description of Exhibit | |
| 99.1 | Joint Filing Agreement dated May 2, 2016. | |
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Page 7 of 7 – SEC Filing
Exhibit 99.1
AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree as follows:
(i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and
(ii) Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.
Date: May 2, 2016
| MSD Partners, L.P. | |||
| By: | MSD Partners (GP), LLC | ||
| Its: | General Partner | ||
| By: | /s/ Marc R. Lisker | ||
| Name: | Marc R. Lisker | ||
| Title: | Manager | ||
| MSD Credit Opportunity Master Fund, L.P. | |||
| By: | MSD Partners, L.P. | ||
| Its: | Investment Manager | ||
| By: | MSD Partners (GP), LLC | ||
| Its: | General Partner | ||
| By: | /s/ Marc R. Lisker | ||
| Name: | Marc R. Lisker | ||
| Title: | Manager | ||
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