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Filing Details

Accession Number:: 0001019056-21-000582
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-11-12 09:00:59
Reporting Period:: 2021-11-10

Accepted Time:: 2021-11-12 09:00:59
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1286613	Lincoln Educational Services Corp	LINC	Services-Educational Services (8200)	571150621

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1794034	Juniper Investment Company, Llc	555 Madison Avenue 24Th Floor New York NY 10022		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value Per Share	Acquisiton	2021-11-10	14,000	$7.29	14,000	No	4	P	Indirect	Juniper Multi-Strategy Fund, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Juniper Multi-Strategy Fund, L.P.

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, No Par Value Per Share	563,274	Indirect	Juniper Targeted Opportunity Fund, L.P.

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series A Convertible Preferred Stock	$0.00			4,745,765	11,200	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	4,745,765	11,200	Indirect

Footnotes

The reported price is a weighted average price. The shares were purchased on November 10, 2021 in multiple transactions on the open market at prices ranging from $7.20 to $7.30. The reporting person, Juniper Investment Company, LLC ("Juniper") undertakes to provide to 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.
Juniper, the reporting person, serves as the investment manager of Juniper Multi-Strategy Fund, L.P. ("Juniper Multi-Strategy Fund") and may be deemed to beneficially own the securities held by Juniper Multi-Strategy Fund. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of the reporting person's pecuniary interest therein.
Juniper, the reporting person, serves as the investment manager of Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund") and may be deemed to beneficially own the securities held by Juniper Fund. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of the reporting person's pecuniary interest therein.
Represents an aggregate of 11,200 shares of the Issuer's Series A Convertible Preferred Stock ("Series A Preferred") of which Juniper Fund and Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities") hold 3,500 shares and 7,700 shares, respectively. The Series A Preferred is convertible into the Issuer's Common Stock on a 423.729-for-one basis (when issued and such conversion ratio is subject to increase in the event that dividends on Series A shares are not paid in cash). Series A is convertible at any time at the holder's election and has no expiration date. Beginning on November 14, 2022, the holder may be required by the Issuer to convert the Series A into Common Stock upon satisfaction of certain requirements.
(Footnote 4 continued). Juniper, the reporting person, serves as the investment manager of Juniper Fund and Juniper Targeted Opportunities and may be deemed to beneficially own the securities held by them. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of its pecuniary interest therein.