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Filing Details

Accession Number:
0001019056-19-000188
Form Type:
13D Filing
Publication Date:
2019-03-05 18:01:54
Filed By:
MAK Capital One
Company:
Skyline Champion Corp
Filing Date:
2019-03-06
SEC Url:
13D 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
MAK Capital One 8 4,039,759 10 4,039,759 4,039,759 7.1%
Michael A. Kaufman 8 4,039,759 10 4,039,759 4,039,759 7.1%
MAK Champion Investment 8 2,949,024 10 2,949,024 2,949,024 5.2%
MAK Capital Fund 8 2,949,024 10 2,949,024 2,949,024 5.2%
MAK-ro Capital Master Fund 8 1,090,735 10 1,090,735 1,090,735 1.9%
Filing
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

[Rule 13d-101]
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
§§240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO §§240.13d-2(a)

(Amendment No. 6)

Skyline Champion Corporation

(Name of Issuer)

Common Stock, par value $0.0277 per share

(Title of Class of Securities)

830830105

(CUSIP Number)

David N. Smith, Managing Director

MAK Capital One L.L.C.

590 Madison Avenue, Suite 2401

New York, NY 10022

(212) 486-3211

With a copy to each of:

Craig Marcus

Zachary Blume

Ropes & Gray LLP

800 Boylston Street

Boston, MA 02199

(617) 951-7000

Howard M. Berkower

McCarter & English, LLP

825 Eighth Avenue

New York, NY 10019

(212) 609-6800

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

February 27, 2019

(Date 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 §§240.13d-1(e) 240.13d-1(f) or 240.13d-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 §240.13d-7(b) for other parties to whom copies are to be sent.
*     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 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).

 

 
CUSIP No. 830830105 SCHEDULE 13D/A Page 2 of 9

 

1  

NAMES OF REPORTING PERSONS

MAK Capital One L.L.C.

2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o (b) x

3  

SEC USE ONLY

 

4  

SOURCE OF FUNDS (see instructions)

 

5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6  

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER

 

  8  

SHARED VOTING POWER

4,039,759

  9  

SOLE DISPOSITIVE POWER

 

  10  

SHARED DISPOSITIVE POWER

4,039,759

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,039,759

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)

 

x

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.1% (See Item 5)*

14  

TYPE OF REPORTING PERSON

IA

             

* The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering described herein, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

 
CUSIP No. 830830105 SCHEDULE 13D/A Page 3 of 9

 

1  

NAMES OF REPORTING PERSONS

Michael A. Kaufman

2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o (b) x

3  

SEC USE ONLY

 

4  

SOURCE OF FUNDS (see instructions)

 

5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6  

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7  

SOLE VOTING POWER

 

  8  

SHARED VOTING POWER

4,039,759

  9  

SOLE DISPOSITIVE POWER

 

  10  

SHARED DISPOSITIVE POWER

4,039,759

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,039,759

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)

 

x

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

7.1% (See Item 5)*

14  

TYPE OF REPORTING PERSON

IN

             

* The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering described herein, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

 
CUSIP No. 830830105 SCHEDULE 13D/A Page 4 of 9

 

1  

NAMES OF REPORTING PERSONS

MAK Champion Investment LLC

2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o (b) x

3  

SEC USE ONLY

 

4  

SOURCE OF FUNDS (see instructions)

 

5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6  

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  7  

SOLE VOTING POWER

 

  8  

SHARED VOTING POWER

2,949,024

  9  

SOLE DISPOSITIVE POWER

 

  10  

SHARED DISPOSITIVE POWER

2,949,024

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,949,024

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)

 

x

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.2% (Seem Item 5)*

14  

TYPE OF REPORTING PERSON

OO

             

* The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering described herein, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

 
CUSIP No. 830830105 SCHEDULE 13D/A Page 5 of 9

 

1  

NAMES OF REPORTING PERSONS

MAK Capital Fund LP

2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o (b) x

3  

SEC USE ONLY

 

4  

SOURCE OF FUNDS (see instructions)

 

5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6  

CITIZENSHIP OR PLACE OF ORGANIZATION

Bermuda

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

 

  7  

SOLE VOTING POWER

 

  8  

SHARED VOTING POWER

2,949,024

  9  

SOLE DISPOSITIVE POWER

 

  10  

SHARED DISPOSITIVE POWER

2,949,024

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,949,024

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)

 

x

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

5.2% (Seem Item 5)*

14  

TYPE OF REPORTING PERSON

PN

             

* The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering described herein, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

 
CUSIP No. 830830105 SCHEDULE 13D/A Page 6 of 9

 

1  

NAMES OF REPORTING PERSONS

MAK-ro Capital Master Fund LP

2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a) o (b) x

3  

SEC USE ONLY

 

4  

SOURCE OF FUNDS (see instructions)

 

5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6  

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

NUMBER OF SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

 

  7  

SOLE VOTING POWER

 

  8  

SHARED VOTING POWER

1,090,735

  9  

SOLE DISPOSITIVE POWER

 

  10  

SHARED DISPOSITIVE POWER

1,090,735

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,090,735

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)

 

x

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.9% (Seem Item 5)*

14  

TYPE OF REPORTING PERSON

PN

             

* The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering described herein, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

 
    Page 7 of 9

SCHEDULE 13D

This Amendment No. 6 to the statement on Schedule 13D (“Amendment No. 6”) amends the Schedule 13D originally filed by the Reporting Persons on June 11, 2018, as amended on August 7, 2018, as further amended on August 14, 2018, as further amended on September 25, 2018, as further amended on November 30, 2018 and as further amended on December 7, 2018 (collectively, the “Schedule 13D”), relates to the shares of common stock, par value $0.0277 per share (“Common Stock”), of Skyline Champion Corporation (the “Issuer”). The principal executive offices of the Issuer are located at P.O. Box 743, 2520 By-Pass Road, Elkhart, IN 46515.

Except as specifically provided herein, this Amendment No. 6 does not modify any of the information previously reported on the Schedule 13D.  Capitalized terms used but not otherwise defined in this Amendment No. 6 shall have the meanings ascribed to them in the Schedule 13D.

Item 4. Purpose of Transaction.

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

Underwriting Agreement

After the close of business on February 27, 2019, the MAK Fund and MAK-ro Fund and certain other Sponsors and other selling shareholders (collectively, the “Selling Shareholders”) entered into an underwriting agreement (the “Underwriting Agreement”) with Issuer and Barclays Capital, Inc. (the “Underwriter”), pursuant to which the Underwriter agreed to purchase an aggregate of 10,750,202 shares of Common Stock from the Selling Shareholders at the public offering price of $20.46 per share, less the underwriting discount of $0.248 per share. The transaction closed on March 5, 2019. MAK Fund and MAK-ro Fund sold 1,095,000 and 405,000 shares of Common Stock, respectively.

Lock-up Agreement

In connection with the Underwriting Agreement, each of the Selling Shareholders entered into a lock-up agreement (the “Lock-up Agreement”) with the Representative. Under the Lock-up Agreement, each Selling Shareholder agreed, subject to specified exceptions, not to offer, sell, pledge or otherwise transfer any shares of Common Stock, or securities convertible into or exercisable or exchangeable for shares Common Stock, for 45 days after February 27, 2019 without first obtaining the written consent of the Representative.

The summaries of the Underwriting Agreement and Lock-up Agreement contained in this Item 4 are qualified in their entirety by reference to the Underwriting Agreement and the Lock-up Agreement, each of which is filed as an exhibit hereto and incorporated by reference herein.

Item 5. Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended and supplemented as follows:

(a) – (b) The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Amendment No. 6 is incorporated by reference in its entirety into this Item 5.

Pursuant to Rule 13d-3 under the Act, the Reporting Persons may be deemed to beneficially own Common Stock as follows: (i) MAK Capital and Mr. Kaufman possess the voting power and dispositive power in respect of 4,039,759 shares; (ii) MAK Champion and MAK Fund possess the voting power and dispositive power in respect of 2,949,024 shares; and (iii) MAK-ro Fund possesses the voting power and dispositive power in respect of 1,090,735 shares.

 
    Page 8 of 9

By virtue of the Investor Rights Agreement and the Coordination Agreement (each of which terminated by their terms upon the completion of the Transaction described in Item 4 of this Amendment No 6), the Reporting Persons and other Sponsors may be deemed to have been members of a “group” (within the meaning of Rule 13d-5 under the Act). However, in connection with the Transaction described in Item 4 of this Amendment No. 6, each of the other Sponsors no longer beneficially own any shares of the Issuer’s outstanding Common Stock and disclaim “group” status within the meaning of Rule 13d-5. The filing of this Amendment No. 6 to the Schedule 13D shall not be deemed an admission that the Reporting Persons and the other Sponsors are or were members of any such group. Each of the other Sponsors has separately filed a Schedule 13D reporting its beneficial ownership of the shares of Common Stock held by it. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock held by each of the other Sponsors.

The calculation is based upon 56,713,294 shares of Common Stock being outstanding upon completion of the offering pursuant to the Underwriting Agreement, as disclosed by the Issuer in its prospectus supplement filed with the SEC on March 1, 2019 pursuant to Rule 424(b)(4).

(c) Except for the sales described in Item 4 above and in the Schedule 13D, no Reporting Person has effected any transactions in the shares of Common Stock during the last 60 days.

Item. 6. Contracts, Arrangements, Understandings or Relationships with respect to Securities of Issuer.

Item 6 of this Schedule 13D is hereby amended and supplemented as follows

The information set forth in Item 4 of this Amendment No. 6 is incorporated by reference in its entirety into this Item 6.

Item 7. Material to be Filed as Exhibits

 

Exhibit 9 Underwriting Agreement, dated February 27, 2019, by and among the Issuer, Sankaty Champion Holdings, LLC, Sankaty Credit Opportunities IV, L.P., Centerbridge Capital Partners, L.P., Centerbridge Capital Partners Strategic, L.P., Centerbridge Capital Partners SBS, L.P., CCP Champion Investors, LLC, MAK Champion Investment LLC, MAK-ro Capital Master Fund L.P., Arthur J. Decio and the Representative (incorporated by reference to Exhibit 1.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 1, 2019).

 

Exhibit 10 Form of Lock-up Agreement (incorporated by reference to Exhibit A to Exhibit 1.1 to the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 1, 2019).
 
    Page 9 of 9

 

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: March 5, 2019
 
MAK CAPITAL ONE L.L.C.
     
By:   /s/ Michael A. Kaufman  
  Michael A. Kaufman,  
  Managing Member  
     
  /s/ Michael A. Kaufman  
  MICHAEL A. KAUFMAN  
     
MAK CHAMPION INVESTMENT LLC
By: MAK CAPITAL FUND LP  
     
By: /s/ Michael A. Kaufman  
  Michael A. Kaufman,  
  President  
     
MAK CAPITAL FUND LP  
By: MAK GP LLC, general partner  
     
By: /s/ Michael A. Kaufman  
  Michael A. Kaufman,  
  Managing Member  
     
MAK-RO CAPITAL MASTER FUND LP
By: MAK GP LLC, general partner  
     
By: /s/ Michael A. Kaufman  
  Michael A. Kaufman,  
  Managing Member