SEC Form 4/A · accession 0000899243-17-029340
FTE Networks, Inc. · FTNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
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
LeoGroup Private Debt Facility, L.P.
10% Owner
Patrick James Feeney
10% Owner
Period of report
Apr 7, 2016
Accepted (ET)
Dec 20, 2017 · 5:46 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 StockF2,F1,F3,F4,F5,F6 | — | Dec 15, 2017 | S | 254,734 | D | — | — | Common Stock | 254,734 | 1,127,739 | D |
| Contractual right to receive Common StockF2,F1,F3,F4,F5,F6 | — | Dec 15, 2017 | P | 254,734 | A | — | — | Common Stock | 254,734 | 1,127,739 | D |
Explanation of responses
- F1As reported in a previous amendment, the Reporting Persons acquired the contractual right to be issued 79,123 of the Issuer's Common Stock on April 7, 2017 and acquired the contractual right to be issued 1,048,616 shares of the Issuer's 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. 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.
- F2On December 15, 2017, Lateral Investment Management, LLC sold 254,734 shares of the Issuer's Common Stock which it holds the contractual right to acquire to LeoGroup Private Debt Facility, LP for $2,000,000 in cash through a private purchase agreement. This transaction was related to a separate transaction on December 7, 2017, whereby LeoGroup Private Debt Facility, LP received a 81.7% interest in Lateral FTE Feeder LLC, which corresponds to ownership of an additional 397,550 shares.
- F3Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. are the record holder of 486,524 shares, 0 shares, and 811,104 shares of Common Stock of the Issuer, respectively. Lateral Investment Management, LLC is the sole manager of Lateral FTE Feeder LLC, and Dhamitha Richard de Silva and Patrick Feeney 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 and Patrick Feeney 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 and Patrick Feeney 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 and Patrick Feeney 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 and Patrick Feeney are the sole managers of Lateral Investment Management, LLC and Lateral Credit Opportunities, LLC. Lateral Investment Management, LLC and LeoGroup Private Debt Facility, LP have agreed to act in concert with respect to the Issuer's shares. As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Dhamitha Richard de Silva and Patrick Feeney may be deemed to beneficially own the shares of Common Stock held by LeoGroup Private Debt Facility, LP.
- F6The right to receive Common Stock reported above is now held by Lateral FTE Feeder LLC, LeoGroup Private Debt Facility, LP 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; LeoGroup Private Debt Facility, LP; Dhamitha Richard de Silva; and Patrick Feeney. The address of each of the Reporting Persons except for LeoGroup Private Debt Facility, LP is 1825 South Grant Street, Suite 210, San Mateo, CA 94402-2672. The address for LeoGroup Private Debt Facility, LP is 100 Wood Avenue South, Suite 209, Iselin, NJ 08830.