4//SEC Filing
Vintage Capital Management LLC 4
Accession 0001144204-19-035772
CIK 0001630805other
Filed
Jul 23, 8:00 PM ET
Accepted
Jul 24, 5:23 PM ET
Size
10.2 KB
Accession
0001144204-19-035772
Insider Transaction Report
Form 4
KAHN CAPITAL MANAGEMENT LLC
Director10% Owner
Transactions
- Purchase
Common Stock
2019-07-23$0.30/sh+107,207,856$32,162,357→ 157,047,440 total(indirect: Please see footnotes)
KAHN BRIAN RANDALL
Director10% Owner
Transactions
- Purchase
Common Stock
2019-07-23$0.30/sh+107,207,856$32,162,357→ 157,047,440 total(indirect: Please see footnotes)
Vintage Capital Management LLC
Director10% Owner
Transactions
- Purchase
Common Stock
2019-07-23$0.30/sh+107,207,856$32,162,357→ 157,047,440 total(indirect: Please see footnotes)
Footnotes (3)
- [F1]Represents shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), issued pursuant to an Exchange and Purchase Agreement, dated as of July 23, 2019, between the Issuer and Vintage Capital Management, LLC, a Delaware limited liability company ("Vintage Capital"), pursuant to which Vintage Capital cancelled the principal balance of its interest in the Issuer's Tranche A-1 Term Loan totaling $32,162,356.81 under the Issuer's Credit Agreement, dated as of May 11, 2015, among the Issuer, as the borrower, Bank of America, N.A., as Administrative Agent, and the other lenders party thereto, in exchange for newly issued shares of Common Stock at a price per share equal to $0.30.
- [F2]In addition to Vintage Capital, this Form 4 is being filed jointly by Kahn Capital Management, LLC, a Delaware limited liability company ("Kahn Capital"), and Brian R. Kahn, a citizen of the United States of America, each of whom has the same business address as Vintage Capital.
- [F3](Continued from footnote 2) Kahn Capital, as a member and the majority owner of Vintage Capital, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Vintage Capital, and may be deemed to be the indirect beneficial owner of such shares. Kahn Capital disclaims beneficial ownership of such shares for all other purposes, except to the extent of its pecuniary interest therein. Mr. Kahn, as the manager of each of Vintage Capital and Kahn Capital, may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by Vintage Capital, and may be deemed to be the indirect beneficial owner of such shares. Mr. Kahn disclaims beneficial ownership of such shares for all other purposes, except to the extent of his pecuniary interest therein.
Documents
Issuer
Babcock & Wilcox Enterprises, Inc.
CIK 0001630805
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001511498
Filing Metadata
- Form type
- 4
- Filed
- Jul 23, 8:00 PM ET
- Accepted
- Jul 24, 5:23 PM ET
- Size
- 10.2 KB