SEC Form 4 · accession 0000904454-15-000252
GENCO SHIPPING & TRADING LTD · GNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Strategic Value Partners, LLC
10% Owner
Victor Khosla
10% Owner
SVP Special Situations III LLC
10% Owner
SVP Special Situations III-A LLC
10% Owner
SVP Special Situations II LLC
10% Owner
Period of report
Apr 30, 2015
Accepted (ET)
May 4, 2015 · 5:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001326200
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Apr 30, 2015 | P | 301,780 | $7.00 | A | 2,954,361 | I | See Footnotes |
| Common StockF1,F2,F4 | Apr 30, 2015 | P | 607,533 | $7.00 | A | 2,476,450 | I | See Footnotes |
| Common StockF1,F2,F5 | Apr 30, 2015 | P | 90,687 | $7.00 | A | 455,718 | I | See Footnotes |
| Common StockF1,F2,F6 | holding | — | — | — | 2,753,389 | I | See Footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reported securities are held directly by Strategic Value Master Fund, Ltd., Strategic Value Special Situations Master Fund II, L.P., Strategic Value Special Situations Master Fund III, L.P. and Strategic Value Special Situations Offshore Fund III-A, L.P., and may be deemed to be held indirectly by Strategic Value Partners, LLC ("Strategic Value Partners"), SVP Special Situations II LLC ("Special Situations II"), SVP Special Situations III LLC ("Special Situations III"), SVP Special Situations III-A LLC ("Special Situations III-A"), each as investment manager, and Victor Khosla ("Mr. Khosla" and together with Strategic Value Partners, Special Situations II, Special Situations III and Special Situations III-A, the "Reporting Persons"), as the sole member of Midwood Holdings, LLC, the managing member of Strategic Value Partners, in each case as described below.
- F2The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owners of any of the shares of Common Stock reported herein. The Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.
- F3Strategic Value Partners is the investment manager of, and exercises investment discretion over Strategic Value Master Fund, Ltd., a Cayman Islands exempted company. Strategic Value Partners is indirectly majority owned and controlled by Mr. Khosla.
- F4Special Situations III is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Master Fund III, L.P., a Cayman Islands exempted limited partnership. Strategic Value Partners is the managing member of Special Situations III. Strategic Value Partners and Special Situations III are both indirectly majority owned and controlled by Mr. Khosla.
- F5Special Situations III-A is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Offshore Fund III-A, L.P., a Cayman Islands exempted limited partnership. Strategic Value Partners is the managing member of Special Situations III-A. Strategic Value Partners and Special Situations III-A are both indirectly majority owned and controlled by Mr. Khosla.
- F6Strategic Value Special Situations Master Fund II, L.P., a Cayman Islands exempted limited partnership, holds 2,753,389 shares of Common Stock of the Issuer. Special Situations II is the investment manager of, and exercises investment discretion over Strategic Value Special Situations Master Fund II, L.P. Strategic Value Partners is the managing member of Special Situations II. Strategic Value Partners and Special Situations II are both indirectly majority owned and controlled by Mr. Khosla.