CUSIP No. 985510106
AMENDMENT NO. 1 TO SCHEDULE 13D
This Amendment No. 1 (the “Amendment”) amends and restates the Schedule 13D filed by the Reporting Persons on July 31, 2023 (the
“Original Schedule 13D” and, as amended and supplemented by this Amendment, the “Schedule 13D”), with respect to the Common Stock of the Issuer.
| Item 1. |
Security and Issuer. |
This statement on Schedule 13D relates to the Common Stock, $0.01 par value per share (the “Common Stock”), of Yellow Corporation (the
“Issuer”). The Issuer’s principal executive office is located at 501 Commerce Street, Suite 1120, Nashville, Tennessee, 37203.
| Item 2. |
Identity and Background. |
(a) This Schedule 13D is being filed by and on behalf of (i) MFN Partners, LP (the “Partnership”); (ii) MFN Partners GP, LLC (“MFN
GP”), as the general partner of the Partnership; (iii) MFN Partners Management, LP (“MFN Management”), as the investment adviser to the Partnership; (iv) MFN Partners Management, LLC (“MFN LLC”), as the general
partner of MFN Management; (v) Michael F. DeMichele, as a managing member of MFN GP and of MFN LLC; and (vi) Farhad Nanji, as a managing member of MFN GP and of MFN LLC (each, a “Reporting Person” and collectively, the
“Reporting Persons”). The Reporting Persons are making this single, joint filing and the agreement among the Reporting Persons to file jointly is attached hereto as Exhibit A. The execution and filing of such joint filing agreement shall
not be construed as an admission that the Reporting Persons are a group, or have agreed to act as a group. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary
interest therein.
(b) The principal business address of each Reporting Person is c/o MFN Partners Management, LP , 222 Berkeley Street, 13th Floor, Boston, MA 02116.
(c) The Partnership is a private investment partnership, the principal
business of which is to make investments. The principal business of MFN GP is to act as the general partner of the Partnership. The principal business of MFN Management is to act as the investment adviser to the Partnership. The principal business
of MFN LLC is to act as the general partner of MFN Management. Michael F. DeMichele and Farhad Nanji are managing members of MFN GP and of MFN LLC.
(d)-(e) During the last five years, no Reporting Person has (i) been convicted in any criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in its being subject to a judgment, decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) The Partnership is a Delaware
limited partnership. MFN GP is a Delaware limited liability company. MFN Management is a Delaware limited partnership. MFN LLC is a Delaware limited liability company. Michael F. DeMichele is a citizen of the United States and Farhad Nanji is
citizen of Canada.
| Item 3. |
Source and Amount of Funds or Other Consideration. |
The shares of Common Stock reported herein are directly held by the Partnership and were acquired for the account of the Partnership in multiple transactions
that occurred from July 10, 2023 through July 31, 2023, for aggregate consideration of approximately $22,926,265.97 (including commissions). The source of funds used to acquire the Common Stock was the working capital of the Partnership.
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