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4//SEC Filing

HC2 Holdings, Inc. 4

Accession 0000904454-14-000666

$VATECIK 0001006837operating
View on SEC.govCompany Profile

Filed

Sep 23, 8:00 PM ET

Accepted

Sep 24, 8:37 PM ET

Size

32.9 KB

Accession

0000904454-14-000666

Insider Transaction Report

Form 4
Period: 2014-09-22
HC2 Holdings, Inc.HCHC
Providence Equity Capital Markets L.L.C.
10% Owner
Transactions
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
Benefit Street Partners LLC
10% Owner
Transactions
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
CREAMER GLENN M
10% Owner
Transactions
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
NELSON JONATHAN M
10% Owner
Transactions
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
SALEM PAUL J
10% Owner
Transactions
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
Gahan Thomas
10% Owner
Transactions
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−5,611.5→ 0 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,320,353 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+5,611.5→ 5,611.5 total(indirect: By Providence Debt Fund L.P.)
    → Common Stock (1,407,863 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,937.5→ 2,937.5 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (736,986 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,988.5→ 0 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (703,176 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−962.5→ 0 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (226,471 underlying)
  • Expiration (Short)

    Series A Convertible Participating Preferred Stock

    2014-09-22−2,937.5→ 0 total(indirect: By PECM Strategic Funding L.P.)
    → Common Stock (691,176 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+2,988.5→ 2,988.5 total(indirect: By Providence Debt Fund III Master (Non-US) L.P.)
    → Common Stock (749,781 underlying)
  • Purchase

    Series A Convertible Participating Preferred Stock

    2014-09-22+962.5→ 962.5 total(indirect: By Benefit Street Partners SMA LM L.P.)
    → Common Stock (241,481 underlying)
Footnotes (7)
  • [F1]The two transactions reported in Table II above relate to an amendment to the terms of the outstanding shares of Series A Convertible Participating Preferred Stock to, among other things, reduce the initial conversion price from $4.25 per share to $4.00 per share, in each case subject to adjustment in accordance with the terms of the Series A Convertible Participating Preferred Stock. This amendment to the terms of the Series A Convertible Participating Preferred Stock is reported on this Form 4 as the cancellation of the "old" shares of Series A Convertible Participating Preferred Stock and the acquisition of "new" shares of Series A Convertible Participating Preferred Stock.
  • [F2]The shares are held by Providence Debt Fund III L.P., Providence Debt Fund III Master (Non-US) L.P., PECM Strategic Funding L.P. and Benefit Street Partners SMA LM L.P. (collectively, the "Providence Funds"). Benefit Street Partners L.L.C. ("BSP") is the investment manager of each of Providence Debt Fund III L.P., Providence Debt Fund III Master (Non-US) L.P. and Benefit Street Partners SMA LM L.P. Providence Equity Capital Markets L.L.C. ("PECM") is the investment manager of PECM Strategic Funding L.P. Messrs. Creamer, Gahan, Nelson and Salem collectively control each of BSP and PECM through their indirect ownership of membership interests of BSP and PECM (continued in footnote 3).
  • [F3](continued from footnote 2) As a result, each of Messrs. Creamer, Gahan, Nelson and Salem and BSP may be deemed to share beneficial ownership of the shares held by each of Providence Debt Fund III L.P., Providence Debt Fund III Master (Non-US) L.P. and Benefit Street Partners SMA LM L.P., and each of Messrs. Creamer, Gahan, Nelson and Salem and PECM may be deemed to share beneficial ownership of the shares held by the Providence Funds, except to the extent of its or his pecuniary interest therein.
  • [F4]The Series A Convertible Participating Preferred Stock is convertible at the option of the holder of the security and will be convertible at the option of the Company, beginning on the third anniversary of the date of issuance, in each case at the then applicable conversion rate. The conversion rate is generally determined by dividing the then applicable accrued value of a share of Series A Convertible Participating Preferred Stock by the then applicable conversion price.
  • [F5]Represents 12,500 shares of Series A Convertible Participating Preferred Stock at the original conversion rate of approximately 235.294
  • [F6]Represents 12,500 shares of Series A Convertible Participating Preferred Stock at the adjusted conversion rate of approximately 250.889. This adjusted conversion rate reflects the change to the conversion price described in footnote 1 above as well as the receipt on July 15, 2014 of a quarterly accreting dividend on the shares of Series A Convertible Participating Preferred Stock that is payable by means of an increase in the accrued value of each outstanding share of Series A Convertible Participating Preferred Stock.
  • [F7]Par value $0.001 per share.

Documents

1 file

Issuer

HC2 Holdings, Inc.

CIK 0001006837

→
Entity typeoperating
IncorporatedDE

Related Parties

1
  • filerCIK 0001006837

Filing Metadata

Form type
4
Filed
Sep 23, 8:00 PM ET
Accepted
Sep 24, 8:37 PM ET
Size
32.9 KB
View on SEC.gov