SEC Form 3 · accession 0001144204-17-040594
EMERGENT CAPITAL, INC. · EMGC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Evermore Global Value Fund
10% Owner
Period of report
Jul 28, 2017
Accepted (ET)
Aug 4, 2017 · 4:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001494448
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 16,710,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants (rights to buy) to purchase Common StockF2,F1 | $0.20 | holding | — | — | — | — | Jul 28, 2025 | Common Stock | 4,344,786 | — | D |
Explanation of responses
- F1The Warrants will vest at later times tied to the conversion of the Issuer's outstanding senior unsecured convertible notes outstanding as of July 28, 2017 (the "Outstanding Convertible Notes") into shares of the Issuer's common stock on a 1 to 1 basis; provided that upon the earliest date on which (x) at least 50% of the aggregate principal amount of the Outstanding Convertible Notes are converted into shares of the Issuer's common stock, or (y) all of the Outstanding Convertible Notes are no longer outstanding, then all remaining shares of the Issuer's common stock under the Warrants will vest and become immediately exercisable.
- F2Subject to adjustment in accordance with Article 3 of the Warrants.
Remarks
The Reporting Person, Evermore Global Value Fund ("EGVF"), is a series of Evermore Funds Trust, a Massachusetts Business Trust and an investment company registered with the SEC under the Investment Company Act of 1940. Evermore Global Advisors, LLC, as investment advisor to EGVF, has sole voting and dispositive power with respect to these securities, but disclaims beneficial ownership of such securities.