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Filing Details

Accession Number:
0000902664-16-007418
Form Type:
4
Zero Holdings:
No
Publication Time:
2016-06-22 21:20:21
Reporting Period:
2016-06-20
Filing Date:
2016-06-22
Accepted Time:
2016-06-22 21:20:21
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
75208 Overseas Shipholding Group Inc OSGIQ Deep Sea Foreign Transportation Of Freight (4412) 132637623
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1166564 Cyrus Capital Partners, L.p. 399 Park Avenue
39Th Floor
New York NY 10022
Yes No Yes Yes
1166774 Cyrus Capital Partners Gp, Llc 399 Park Avenue, 39Th Floor
New York NY 10022
Yes No Yes Yes
1251783 C Stephen Freidheim C/o Cyrus Capital Partners, L.p.
399 Park Avenue, 39Th Floor
New York NY 10022
Yes No Yes Yes
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Class A Common Stock, Par Value $0.01 Acquisiton 2016-06-20 323,705 $11.53 9,380,189 No 4 P Indirect See footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect See footnote
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Class A Common Stock Warrant Acquisiton 2016-06-20 2,824,464 $2.19 537,589 $0.01
Class A Common Stock Warrant Acquisiton 2016-06-20 293,031 $2.19 55,773 $0.01
Class A Common Stock Warrant Acquisiton 2016-06-20 1,104,950 $2.19 210,308 $0.01
Class A Common Stock Warrant Acquisiton 2016-06-20 1,261,697 $2.19 240,142 $0.01
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
11,191,704 2039-08-05 No 4 P Indirect
11,484,735 2039-08-05 No 4 P Indirect
12,589,685 2039-08-05 No 4 P Indirect
13,851,382 2039-08-05 No 4 P Indirect
Footnotes
  1. These shares of Common Stock were purchased by Cyrus Canary Fund, L.P.
  2. The number of shares reported in this Form 4 reflects: (i) the 1-for-6 reverse stock split effective on June 13, 2016 (the "Reverse Stock Split") and (ii) the stock dividend of 0.01 share of Class A Common Stock for each share of Class A Common Stock held by the Reporting Persons as of the record date of December 3, 2015 (the "Stock Dividend").
  3. As a result of the Stock Dividend, the Reporting Persons received 4,939,899 shares of Class A Common Stock (prior to giving effect to the Reverse Stock Split) in respect of the Stock Dividend.
  4. 9,380,189 shares of Class A Common Stock and 13,851,382 Warrants to purchase 2,636,376 shares of Class A Common Stock are held directly by: (i) Cyrus Polaris LLC, (ii) Cyrus Polaris II LLC, (iii) CYR Fund, L.P., (iv) Crescent 1, L.P. and (v) Cyrus Canary Fund, L.P (collectively, the "Cyrus Funds"). In addition, 33,333 shares of restricted Class A Common Stock are held by Cyrus Capital Partners, L.P ("CCP"). CCP serves as the investment manager to the Cyrus Funds. Cyrus Capital Partners GP, L.L.C. ("CCPGP") serves as the general partner of CCP. Stephen C. Freidheim serves as the principal of both CCP and CCPGP. All discretion over the investment activities of the Cyrus Funds has been delegated to CCP. Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any.
  5. These Warrants were purchased by Cyrus Polaris LLC.
  6. The Warrants may be exercised only subject to certain restrictions set forth in the terms of the Warrants and the Issuer's organizational documents.
  7. The number of shares underlying the Warrants reported in this Form 4 also reflects the cash dividend of $0.08 paid on March 25, 2016 for each share of Class A Common Stock held by the Reporting Persons as of the record date of March 18, 2016 (the "Cash Dividend"). In connection with the Stock Dividend and the Cash Dividend, in accordance with the terms of the Warrants, the Warrants automatically adjusted so that the Reporting Persons became entitled to receive, upon exercise, an aggregate of 1,188,148 additional shares of Class A Common Stock (prior to giving effect to the Reverse Stock Split) in respect of both the Stock Dividend and the Cash Dividend.
  8. These Warrants were purchased by Cyrus Polaris II, LLC.
  9. These Warrants were purchased by CYR Fund, L.P.
  10. These Warrants were purchased by Cyrus Canary Fund, L.P.