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CUSIP No. 51476W107
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13D
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Page
7
of 12
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its brokers or banks and a portion of the purchase price for the Common Stock may be obtained through margin borrowing. Securities positions which may be held in the margin accounts, including
the Common Stock, may be pledged as collateral security for the repayment of debit balances in the margin accounts.
Item 4.
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Purpose of Transaction.
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Master Fund acquired the shares of Common Stock for investment in the ordinary course of business, as it believed that such shares represented an attractive
investment opportunity. In addition, the Reporting Persons intend to engage in discussions with the Issuer concerning a potential investment in or other financing involving the Issuer.
In connection with the Master Funds investment in the Issuer, and as may be appropriate from time to time, each of the Reporting Persons may also
consider the feasibility and advisability of various alternative courses of action with respect to such investment, including, without limitation: (a) the acquisition or disposition by the Reporting Persons of its shares of Common Stock,
including through derivative transactions which may include security-based swaps and short sales; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) changes in the present board of directors or management of the Issuer; (e) a material change in the present capitalization or dividend
policy of the Issuer; (f) other material changes in the Issuers business or corporate structure; (g) changes in the Issuers certificate of incorporation or bylaws or other actions that may impede the acquisition of control of
the Issuer by any person; (h) causing any class of the Issuers securities to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities
association; (i) causing a class of equity securities of the Issuer to become eligible for termination of registration pursuant to Section 12 of the Exchange Act; or (j) any action similar to those enumerated above. The Reporting
Persons may communicate with the Board, members of management and/or other stockholders from time to time with respect to operational, strategic, financial or governance matters or otherwise work with management and the Board. Except as described in
Item 6 and this Item 4, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clause (a) through (j) of this paragraph.
The Reporting Persons reserve the right, based on all relevant factors and subject to applicable law or other restrictions, at any time and from time to time,
to acquire additional securities of the Issuer, dispose of some or all of the shares of Common Stock or such other securities, in each case in open market or private transactions, block sales or otherwise, and review or reconsider their position,
change their purpose, take other actions (including actions that could involve one or more of the types of transactions or have one or more of the results described in clauses (a) through (j) of the foregoing paragraph of this Item 4) or
formulate and implement plans or proposals with respect to any of the foregoing.
Item 5.
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Interests in the Securities of the Issuer.
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(a) & (b) As of the date hereof, the Reporting Persons beneficially own, in the aggregate, 2,000,000 shares of Common Stock, which
represents approximately 8.6% of the Common Stock issued and outstanding. The following table sets forth the number and percentage of Common Stock owned by each Reporting Persons named in Item 2 of this Schedule 13D. The percentage of Common Stock
owned was calculated based on 23,278,841 shares outstanding as of August 8, 2018, as disclosed in the Issuers Quarterly Report on Form
10-Q,
for the period ended June 30, 2018, filed on
August 9, 2018.