SEC Form 4/A · accession 0000899243-17-026667
FTE Networks, Inc. · FTNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owners
Richard de Silva
10% Owner
LATERAL INVESTMENT MANAGEMENT, LLC
10% Owner
Lateral Credit Opportunities, LLC
10% Owner
Lateral FTE Feeder LLC
10% Owner
Kenneth M. Masters
10% Owner
Patrick James Feeney
10% Owner
Period of report
Apr 7, 2016
Accepted (ET)
Nov 16, 2017 · 7:57 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001122063
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Contractual right to receive Common StockF1,F2,F3,F4,F5,F6 | — | Apr 7, 2017 | J | 79,123 | A | — | — | Common Stock | 79,123 | 1,273,949 | I |
| Contractual right to receive Common StockF1,F2,F3,F4,F5,F6 | — | May 8, 2017 | J | 1,048,616 | A | — | — | Common Stock | 1,048,616 | 2,322,565 | I |
Explanation of responses
- F1On May 12, 2017, the Reporting Persons filed a Form 4 which inadvertently reported that they had acquired and were the beneficial owners of 1,978,068 shares (79,123 shares post reverse stock split) of the Issuer's Common Stock on April 7, 2017 and 26,215,409 shares (1,048,616 shares post reverse stock split) of the Issuer's Common Stock on May 8, 2017. In fact, as reported in this amendment, the Reporting Persons acquired the contractual right to be issued 1,978,068 shares (79,123 shares post reverse stock split) of the Issuer's Common Stock on April 7, 2017 and acquired the contractual right to be issued 26,215,409 shares (1,048,616 shares post reverse stock split) of the Issuers Common Stock on May 8, 2017 in connection with the lending arrangement described in the Issuer's Form 8-K filed on November 3, 2015.
- F2(Continued from footnote 1) However, such Common Stock has not yet been issued as of the date of this filing. Each share of Common Stock is presented on this amended Form 4 after giving effect to the 25-for-1 reverse stock split of the Issuer that became effective on November 6, 2017, as disclosed in the Issuer's Form 8-K filed on the same date.
- F3Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. are the record holder of a portion of the shares of Common Stock of the Issuer. Lateral Investment Management, LLC is the sole manager of Lateral FTE Feeder LLC, and Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters are the sole managers of Lateral Investment Management, LLC. As a result of the foregoing relationships, each of Lateral Investment Management, LLC, Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters may be deemed to beneficially own the shares of Common Stock held by Lateral FTE Feeder LLC.
- F4(Continued from Footnote 3) Lateral Investment Management, LLC has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P.; Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P.; and Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters are the sole managers of Lateral Credit Opportunities, LLC. As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters may be deemed to beneficially own the shares of Common Stock held by Lateral U.S. Credit Opportunities Fund, L.P.
- F5Lateral Investment Management, LLC is the sole manager of Lateral FTE Feeder LLC and has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P. Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P. Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters are the sole managers of Lateral Investment Management, LLC and Lateral Credit Opportunities, LLC.
- F6The right to receive Common Stock reported above is held by Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P.
Remarks
The Reporting Persons filing this Form 4 jointly are the following: Lateral Investment Management, LLC; Lateral FTE Feeder LLC; Lateral U.S. Credit Opportunities Fund, L.P.; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva; Patrick Feeney; and Kenneth Masters. The address of each of the Reporting Persons is 1825 South Grant Street, Suite 210, San Mateo, CA 94402-2672.