4//SEC Filing
RCN CORP /DE/ 4
Accession 0001181431-07-044643
CIK 0001041858operating
Filed
Jul 4, 8:00 PM ET
Accepted
Jul 5, 6:42 PM ET
Size
19.6 KB
Accession
0001181431-07-044643
Insider Transaction Report
Form 4
RCN CORP /DE/RCNIV
JONES PAUL TUDOR II
Other
Transactions
- Other
Common Stock, par value $0.01 per share
2007-07-02$18.79/sh−631,940$11,874,153→ 7,173,512 total(indirect: See Footnotes) - Other
Warrant to purchase Common Stock
2007-07-02$5.22/sh−113,552$592,628→ 1,288,785 total(indirect: See Footnotes)Exercise: $16.72From: 2007-05-25Exp: 2012-06-21→ Warrant (113,552 underlying)
TUDOR INVESTMENT CORP ET AL
10% Owner
Transactions
- Other
Warrant to purchase Common Stock
2007-07-02$5.22/sh−113,552$592,628→ 1,288,785 total(indirect: See Footnotes)Exercise: $16.72From: 2007-05-25Exp: 2012-06-21→ Warrant (113,552 underlying) - Other
Common Stock, par value $0.01 per share
2007-07-02$18.79/sh−631,940$11,874,153→ 7,173,512 total(indirect: See Footnotes)
PALLOTTA JAMES J
Other
Transactions
- Other
Warrant to purchase Common Stock
2007-07-02$5.22/sh−113,552$592,628→ 1,288,785 total(indirect: See Footnotes)Exercise: $16.72From: 2007-05-25Exp: 2012-06-21→ Warrant (113,552 underlying) - Other
Common Stock, par value $0.01 per share
2007-07-02$18.79/sh−631,940$11,874,153→ 7,173,512 total(indirect: See Footnotes)
Footnotes (8)
- [F1]Tudor Investment Corporation ("TIC") is the investment adviser or trading advisor to each of The Tudor BVI Global Portfolio L.P. (f/k/a The Tudor BVI Global Portfolio Ltd.) ("BVI") and The Raptor Global Portfolio Ltd. ("Raptor"), and the General Partner of The Altar Rock Fund L.P. ("Altar Rock"). The shares of Common Stock (collectively, "Common Stock") as reported herein as indirectly beneficially owned by TIC are directly beneficially owned by BVI (1,811,495 shares), Raptor (5,303,727 shares), and Altar Rock (58,290 shares). Because TIC is the sole General Partner of Altar Rock and provides investment-advisory services to BVI and Raptor, TIC may be deemed to beneficially own the shares of Common Stock owned by each of such entities. TIC disclaims beneficial ownership of the securities reported herein as indirectly owned except to the extent of its pecuniary interest in such securities.
- [F2]The shares of Common Stock (the "Shares") are reported herein as indirectly beneficially owned by Paul Tudor Jones II. The Shares are owned indirectly by TIC (7,173,512 shares) (see Footnote 1). Because Mr. Jones is the controlling shareholder of TIC, Mr. Jones may be deemed to beneficially own the Shares deemed beneficially owned by TIC. Mr. Jones expressly disclaims such beneficial ownership.
- [F3]The Shares are reported herein as indirectly beneficially owned by James J. Pallotta. The Shares are owned indirectly by TIC (7,173,512 shares) (see Footnote 1). Because Mr. Pallotta is the portfolio manager of TIC with respect to the Shares and may be deemed to have voting and investment authority with respect to the Shares, Mr. Pallotta may be deemed to beneficially own the Shares deemed beneficially owned by each of TIC.
- [F4]The warrants to purchase Common Stock with an exercise date of May 25, 2007 (the "Warrants") reported herein as indirectly beneficially owned by TIC are directly beneficially owned by BVI (325,452 Warrants), Raptor (952,875 Warrants), and Altar Rock (10,458 Warrants). Because TIC provides investment-advisory services to BVI and Raptor, and is the sole General Partner of Altar Rock, TIC may be deemed to beneficially own the Warrants owned by each of such entities. TIC disclaims beneficial ownership of the securities reported herein as indirectly owned except to the extent of its pecuniary interest in such securities.
- [F5]The Warrants are reported herein as indirectly beneficially owned by Paul Tudor Jones II. Because Mr. Jones is the controlling shareholder of TIC, Mr. Jones may be deemed to beneficially own the Warrants deemed beneficially owned by TIC. Mr. Jones expressly disclaims such beneficial ownership.
- [F6]The Warrants are reported herein as indirectly beneficially owned by James J. Pallotta. The Warrants are owned indirectly by TIC (1,288,785 Warrants) (see Footnote 4). Because Mr. Pallotta is the portfolio manager of TIC with respect to the Warrants and may be deemed to have voting and investment authority with respect to the Warrants, Mr. Pallotta may be deemed to beneficially own the Warrants deemed beneficially owned by each of TIC. Mr. Pallotta expressly disclaims such beneficial ownership.
- [F7]In connection with a restructuring of its investment operations, on July 2, 2007, Tudor Proprietary Trading, L.L.C. ("TPT") contributed the majority of its investment positions, including the Shares and Warrants, to BVI in exchange for an equivalent interest in BVI (such interest to be held by a wholly-owned subsidiary of TPT). The number of Shares previously owned directly by TPT is equal to the number of Shares in which TPT has an indirect beneficial ownership interest following such restructuring.
- [F8]On May 25, 2007, RCN Corporation (the "Company") repurchased its 7.375% Convertible Second Lien Notes due 2012. In connection with such repurchase TPT , BVI, Raptor, and Altar Rock, received 75,455, 140,807, 633,183, and 6,949 Warrants to puchase Shares, respectively. In connection with a dividend paid to shareholders of the Company on June 11, 2007, the number of Warrants held by such entities was automatically adjusted pursuant to the terms of the Warrants to 113,552 (TPT), 211,900 (BVI), 952,875 (Raptor), and 10,458 (Altar Rock) Warrants, respectively. In accordance with the restructuring referred to in Footnote (7) above, the Warrants previously held by TPT were contributed to BVI.
Documents
Issuer
RCN CORP /DE/
CIK 0001041858
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001041858
Filing Metadata
- Form type
- 4
- Filed
- Jul 4, 8:00 PM ET
- Accepted
- Jul 5, 6:42 PM ET
- Size
- 19.6 KB