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Filing Details

Accession Number:
0001193125-19-040736
Form Type:
13G Filing
Publication Date:
2019-02-14 16:02:02
Filed By:
Highland Capital Management
Company:
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK)
Filing Date:
2019-02-14
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Highland Capital Management 0 2,204,865 0 2,204,865 2,204,865 6.9%
Strand Advisors, Inc 0 2,204,865 0 2,204,865 2,204,865 6.9%
James D. Dondero 0 3,153,028 0 3,153,028 3,153,028 9.8%
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

 

Paratek Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

699374302

(CUSIP Number)

December 31, 2018

(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)

 

 

 


CUSIP No. 699374302    13G    Page 2 of 9

 

  1       

  NAME OF REPORTING PERSONS

 

  Highland Capital Management, L.P.

  2      

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

  (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

 

  2,204,865**    

  7     

  SOLE DISPOSITIVE POWER

 

  0**

  8     

  SHARED DISPOSITIVE POWER

 

  2,204,865**

  9      

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,204,865**

10      

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

  ☐

11      

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.9%**

12      

  TYPE OF REPORTING PERSON*

 

  IA, PN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.

 


CUSIP No. 699374302    13G    Page 3 of 9

 

  1       

  NAME OF REPORTING PERSONS

 

  Strand Advisors, Inc.

  2      

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

  (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

 

  2,204,865**

  7     

  SOLE DISPOSITIVE POWER

 

  0

  8     

  SHARED DISPOSITIVE POWER

 

  2,204,865**

  9      

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  2,204,865**

10      

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

  ☐

11      

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  6.9%**

12      

  TYPE OF REPORTING PERSON*

 

  HC, CO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.

 


CUSIP No. 699374302    13G    Page 4 of 9

 

  1       

  NAME OF REPORTING PERSONS

 

  James D. Dondero

  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

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    5     

  SOLE VOTING POWER

 

  0

  6     

  SHARED VOTING POWER

 

  3,153,028**

  7     

  SOLE DISPOSITIVE POWER

 

  0

  8     

  SHARED DISPOSITIVE POWER

 

  3,153,028**

  9      

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  3,153,028**

10      

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

  ☐

11      

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

  9.8%**

12      

  TYPE OF REPORTING PERSON*

 

  HC, IN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.

 


SCHEDULE 13G

This Schedule 13G (this Schedule 13G) is being filed on behalf of Highland Capital Management, L.P., a Delaware limited partnership (Highland Capital), Strand Advisors, Inc., a Delaware corporation (Strand), and James D. Dondero (collectively, the Reporting Persons).

James D. Dondero is the President of Strand. Highland Capital serves as the investment advisor to a certain private fund (the HCM Fund). This Schedule 13G relates to the Common Stock, par value $0.001 per share (the Common Stock), of Paratek Pharmaceuticals, Inc., a Delaware corporation (the Issuer), held by (i) the HCM Fund, (ii) certain other funds and managed accounts ultimately advised by James D. Dondero (together with the HCM Fund, the Funds) and (iii) a trust, the shares held by which James D. Dondero has the right to acquire beneficial ownership of (the Trust).

 

Item 1(a)

Name of Issuer.

Paratek Pharmaceuticals, Inc.

 

Item 1(b)

Address of Issuers Principal Executive Offices.

75 Park Plaza

Boston, Massachusetts 02116

 

Item 2(a)

Name of Person Filing.

 

  (1)

Highland Capital Management, L.P.

 

  (2)

Strand Advisors, Inc.

 

  (3)

James D. Dondero

 

Item 2(b)

Address of Principal Business Office, or, if none, Residence.

For all Filers:

300 Crescent Court, Suite 700

Dallas, Texas 75201

 

Item 2(c)

Citizenship or Place of Organization.

 

  (1)

Highland Capital Management, L.P. is a Delaware limited partnership

 

  (2)

Strand Advisors, Inc. is a Delaware corporation

 

  (3)

James D. Dondero is a United States citizen

 

Item 2(d)

Title of Class of Securities.

Common Stock, par value $0.001 per share

 

Item 2(e)

CUSIP Number.

699374302

 

5


Item 3

Reporting Person.

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), 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 advisor 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)(1)(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 of 1940 (15 U.S.C. 80a-3).
(j)       Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4

Ownership.

 

  (a)

As the investment manager of the HCM Fund, Highland Capital and Strand, as the general partner of Highland Capital, may be deemed the beneficial owners of the 2,204,865 shares of Common Stock held by the HCM Fund.

Mr. Dondero may be deemed the beneficial owner of the 3,153,028 shares of Common Stock held by the Funds and the Trust.

 

  (b)

Highland Capital and Strand may be deemed the beneficial owner of 6.9% of the outstanding Common Stock. This percentage was determined by dividing 2,204,865, the number of shares of Common Stock held directly by the HCM Fund, by 32,140,977, which is the number of shares of Common Stock outstanding as of October 31, 2018 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 6, 2018.

 

6


Mr. Dondero may be deemed the beneficial owner of 9.8% of the outstanding Common Stock. This percentage was determined by dividing 3,153,028, the number of shares of Common Stock held directly by the Funds and the Trust, by 32,140,977, which is the number of shares of Common Stock outstanding as of October 31, 2018 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 6, 2018.

 

  (c)

Highland Capital and Strand have the shared power to vote and dispose of the 2,204,865 shares of Common Stock held by the HCM Fund.

Mr. Dondero has the the shared power to vote and dispose of the 3,153,028 shares of Common Stock held by the Funds and the Trust.

 

Item 5

Ownership of Five Percent or Less of a Class.

Inapplicable.

 

Item 6

Ownership of More Than Five Percent on Behalf of Another Person.

Inapplicable.

 

Item 7

Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Inapplicable.

 

Item 8

Identification and Classification of Members of the Group.

Inapplicable.

 

Item 9

Notice of Dissolution of Group.

Inapplicable.

 

Item 10

Certification.

By signing below each of the Reporting Persons certifies that, to the best of such persons 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.

 

7


Exhibits    Exhibit 99-1
   Joint Filing Agreement, dated February 14, 2019, by and among Highland Capital, Strand and James D. Dondero.

 

 

8


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: February 14, 2019

 

HIGHLAND CAPITAL MANAGEMENT, L.P.
By:   Strand Advisors, Inc., its general partner
  By:  

/s/ James D. Dondero

    Name: James D. Dondero
    Title: President

STRAND ADVISORS, INC.

By:  

/s/ James D. Dondero

Name: James D. Dondero
Title: President

/s/ James D. Dondero

James D. Dondero

 

.