Filing Details

Accession Number:
0000899243-18-009499
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-04-04 19:30:29
Reporting Period:
2018-02-12
Accepted Time:
2018-04-04 19:30:29
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1679049 International Seaways Inc. INSW () DE
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1427430 Bluemountain Capital Management, Llc 280 Park Avenue, 12Th Floor
New York NY 10017
No No Yes No
1540859 Bluemountain Gp Holdings, Llc 280 Park Avenue, 12Th Floor
New York NY 10017
No No Yes No
1541088 Bluemountain Long/short Credit Gp, Llc 280 Park Avenue, 12Th Floor
New York NY 10017
No No Yes No
1598919 L.p. Fund Peak Guadalupe Bluemountain 280 Park Avenue, 12Th Floor
New York NY 10017
No No Yes No
1614634 Bluemountain Nautical Llc 280 Park Avenue, 12Th Floor
New York NY 10017
No No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2018-02-12 7 $15.98 3,409,442 No 4 S Indirect By BlueMountain Guadalupe Peak Fund L.P.
Common Stock Disposition 2018-02-12 7 $15.98 0 No 4 S Indirect By BlueMountain Kicking Horse Fund L.P.
Common Stock Disposition 2018-02-12 28 $15.98 0 No 4 S Indirect By BlueMountain Systematic Master Fund L.P.
Common Stock Disposition 2018-02-12 6 $15.98 0 No 4 S Indirect By BlueMountain Fursan Fund L.P.
Common Stock Disposition 2018-02-14 1 $16.27 3,409,442 No 4 S Indirect By BlueMountain Guadalupe Peak Fund L.P.
Common Stock Disposition 2018-02-14 2 $16.27 0 No 4 S Indirect By BlueMountain Kicking Horse Fund L.P.
Common Stock Disposition 2018-02-14 3 $16.27 0 No 4 S Indirect By BlueMountain Credit Alternatives Master Fund L.P.
Common Stock Disposition 2018-02-14 7 $16.27 0 No 4 S Indirect By BlueMountain Systematic Master Fund L.P.
Common Stock Disposition 2018-02-14 2 $16.27 0 No 4 S Indirect By BlueMountain Fursan Fund L.P.
Common Stock Acquisiton 2018-02-21 3,721 $16.99 0 No 4 P Indirect By BlueMountain Systematic Master Fund L.P.
Common Stock Acquisiton 2018-02-21 798 $17.00 0 No 4 P Indirect By BlueMountain Fursan Fund L.P.
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect By BlueMountain Guadalupe Peak Fund L.P.
No 4 S Indirect By BlueMountain Kicking Horse Fund L.P.
No 4 S Indirect By BlueMountain Systematic Master Fund L.P.
No 4 S Indirect By BlueMountain Fursan Fund L.P.
No 4 S Indirect By BlueMountain Guadalupe Peak Fund L.P.
No 4 S Indirect By BlueMountain Kicking Horse Fund L.P.
No 4 S Indirect By BlueMountain Credit Alternatives Master Fund L.P.
No 4 S Indirect By BlueMountain Systematic Master Fund L.P.
No 4 S Indirect By BlueMountain Fursan Fund L.P.
No 4 P Indirect By BlueMountain Systematic Master Fund L.P.
No 4 P Indirect By BlueMountain Fursan Fund L.P.
Footnotes
  1. Represents shares of common stock of International Seaways, Inc. (the "Issuer") that were sold by BlueMountain Guadalupe Peak Fund L.P. ("Guadalupe"). Such shares of common stock that were sold by Guadalupe were acquired by Guadalupe in an in-kind, pro rata distribution for no consideration from BlueMountain Nautical LLC ("Nautical"). Guadalupe, as a holder of membership interests in Nautical, may be deemed to indirectly beneficially own the shares of common stock of the Issuer directly held by Nautical.
  2. Represents the aggregate amount of common stock of the Issuer directly held by Nautical following the transactions reported herein and the transactions reported in the Form 4 that was filed immediately before this Form 4.
  3. BlueMountain Capital Management, LLC ("BMCM"), as the non-member manager of Nautical and the investment manager of Guadalupe, has voting and investment power over the shares of common stock of the Issuer held by Nautical and Guadalupe and thus may be deemed to beneficially own such securities. BMCM only receives an asset-based fee relating to the shares of common stock of the Issuer held by Nautical. BlueMountain Long/Short Credit GP, LLC (the "General Partner") is the general partner of Guadalupe and has an indirect profits interest in common stock of the Issuer beneficially owned by Guadalupe. BlueMountain GP Holdings, LLC ("GP Holdings") is the sole owner of the General Partner, and thus has an indirect profits interest in common stock of the Issuer beneficially owned by Guadalupe.
  4. (Continued from Footnote 3) The filing of this Form 4 shall not be construed as an admission that Guadalupe, BMCM, GP Holdings or the General Partner is or was the beneficial owner of any shares of common stock of the Issuer for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose, and pursuant to Rule 16a-1(a)(4) under the Exchange Act, Guadalupe, BMCM, GP Holdings and the General Partner each disclaims such beneficial ownership except to the extent of their respective pecuniary interest.
  5. Represents shares of common stock of the Issuer that were sold by BlueMountain Kicking Horse Fund L.P. ("Kicking Horse"). Such shares of common stock that were sold by Kicking Horse were acquired by Kicking Horse in an in-kind, pro rata distribution for no consideration from Nautical. BMCM is the investment manager of Kicking Horse and has voting and investment power over any shares of common stock of the Issuer beneficially owned by Kicking Horse.
  6. Represents shares of common stock of the Issuer that were sold by Blue Mountain Credit Alternatives Master Fund L.P. ("Credit Alternatives"). Such shares of common stock that were sold by Credit Alternatives were acquired by Credit Alternatives in an in-kind, pro rata distribution for no consideration from Nautical. BMCM is the investment manager of Credit Alternatives and has voting and investment power over any shares of common stock of the Issuer beneficially owned by Credit Alternatives.
  7. Represents shares of common stock of the Issuer that were sold or purchased by BlueMountain Systematic Master Fund L.P. ("Systematic Master"). BMCM is the investment manager of Systematic Master and has voting and investment power over any shares of common stock of the Issuer beneficially owned by Systematic Master.
  8. Represents shares of common stock of the Issuer that were sold or purchased by BlueMountain Fursan Fund L.P. ("Fursan"). BMCM is the investment manager of Fursan and has voting and investment power over any shares of common stock of the Issuer beneficially owned by Fursan.
  9. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices of $16.99 and $17.00, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.