SEC Form 4 · accession 0000899243-17-026668
FTE Networks, Inc. · FTNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Richard de Silva
10% Owner
LATERAL INVESTMENT MANAGEMENT, LLC
10% Owner
Lateral Credit Opportunities, LLC
10% Owner
Kenneth M. Masters
10% Owner
Patrick James Feeney
10% Owner
Period of report
Oct 17, 2017
Accepted (ET)
Nov 16, 2017 · 7:58 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant (right to buy)F1,F2 | $10.00 | Oct 17, 2017 | J | 140,000 | A | — | — | Common Stock | 140,000 | 2,462,565 | I |
| Warrant (right to buy)F1,F2 | $10.00 | Nov 3, 2017 | J | 20,000 | A | — | — | Common Stock | 20,000 | 2,482,565 | I |
Explanation of responses
- F1On October 17, 2017, the reporting persons named herein (the "Reporting Persons") obtained the contractual right to acquire warrants to purchase 140,000 shares of the Issuer's Common Stock and as a result became the beneficial owner in the aggregate of 2,462,565 shares of the Issuer's Common Stock in connection with the lending arrangement described in the Issuer's Form 8-K filed on November 3, 2015. On November 3, 2017, the Reporting Persons obtained another contractual right to acquire warrants to purchase 20,000 shares of the Issuer's Common Stock and as a result became the beneficial owner in the aggregate of 2,482,565 shares of the Issuer's Common Stock in connection with the lending arrangement described in the Issuer's Form 8-K filed on November 3, 2015. As of the date of this filing, the warrants described here have yet to be issued.
- F2Following the transactions described in Footnote 1, the right to receive the warrants reported herein is held by Lateral U.S. Credit Opportunities Fund, L.P. 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.
Remarks
The Reporting Persons filing this Form 4 jointly are the following: Lateral Investment Management, 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.