SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  
   

SCHEDULE 13G/A

(Amendment No. 1)*

 
Under the Securities Exchange Act of 1934
 

Denbury Inc.

(Name of Issuer)
 

Common Stock, par value $.001 per share

(Title of Class of Securities)
 

24790A101

(CUSIP Number)
 

December 31, 2021

(Date of Event Which Requires Filing of This Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
X Rule 13d-1(b)  
¨ Rule 13d-1(c)  
¨ Rule 13d-1(d)  
       

 

(Page 1 of 8 Pages)

______________________________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 2 of 8 Pages

 

1

NAME OF REPORTING PERSONS

Cyrus Capital Partners, L.P.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

1,328,793

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,328,793

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

1,328,793

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)

2.65%

14

TYPE OF REPORTING PERSON

PN/IA

         

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 3 of 8 Pages

 

1

NAME OF REPORTING PERSONS

Cyrus Capital Partners GP, L.L.C.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

1,328,793

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,328,793

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

1,328,793

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)

2.65%

14

TYPE OF REPORTING PERSON

OO

         

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 4 of 8 Pages

 

1

NAME OF REPORTING PERSONS

Stephen C. Freidheim

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) x

3 SEC USE ONLY

4

SOURCE OF FUNDS

AF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

1,328,793

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

1,328,793

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

1,328,793

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5)

2.65%

14

TYPE OF REPORTING PERSON

IN

         

 

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 5 of 8 Pages

 

Item 1. (a). NAME OF ISSUER
  Denbury Inc. (the "Issuer")

 

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
  5851 Legacy Circle, Plano Texas, 75024

 

Item 2. (a). NAME OF PERSON FILING
  This Statement is filed by each of the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons":

 

  (i) Cyrus Capital Partners, L.P., a Delaware limited partnership ("CCP"), and the advisor to certain funds and accounts (collectively, the "Cyrus Funds") who holds all discretion over the investment activities of the Cyrus Funds, with respect to the shares of Common Stock (as defined in Item 2(d) below) directly held by the Cyrus Funds;
     
  (ii) Cyrus Capital Partners GP, L.L.C. ("CCP GP"), a Delaware limited liability company and the general partner of CCP, with respect to the shares of Common Stock directly held by the Cyrus Funds; and
     
  (iii) Stephen C. Freidheim, a United States citizen and the principal of CCP GP, the general partner of CCP, and the investment manager to the Cyrus Funds, with respect to the shares of Common Stock directly held by the Cyrus Funds.

 

  The filing of this statement should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of the securities reported herein.

 

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
  The address of each of the Reporting Persons is:
 

65 E. 55th Street, 35th Floor

New York, New York 10022

 

Item 2(c). CITIZENSHIP
 

(i) CCP is a Delaware limited partnership;

(ii) CCP GP is a Delaware limited liability company; and

(iii) Stephen C. Freidheim is a United States citizen.

 

Item 2(d). TITLE OF CLASS OF SECURITIES
  Common Stock, par value $.001 per share (the "Common Stock").

 

Item 2(e). CUSIP NUMBER
  24790A101

 

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 6 of 8 Pages

 

Item 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

 

  (a) ¨ Broker or dealer registered under Section 15 of the Act;
  (b) ¨ Bank as defined in Section 3(a)(6) of the Act;
  (c) ¨ Insurance company as defined in Section 3(a)(19) of the Act;
  (d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940;
  (e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
  (f) ¨

An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);

 

  (g) x

A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);

 

  (h) ¨

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;

 

  (i) ¨

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;

 

  (j) ¨ A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
  (k) ¨ Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

 

 

If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please

specify the type of institution:                                                                                            

 

Item 4. OWNERSHIP
  The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.  
   
  The percentage of the class beneficially owned by Reporting Persons as shown herein is computed based upon an aggregate of 50,122,417 shares of Common Stock outstanding as of October 31, 2021 as reported in the Issuer's Quarterly Report on Form 10-Q for the period ended September 30, 2021, filed with the Securities and Exchange Commission on November 4, 2021.

 

Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
   
  If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ý

 

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 7 of 8 Pages

 

 

Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
   
  See Item 2.

 

Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON
   
  Not applicable.

 

Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
   
  Not applicable.

 

Item 9. NOTICE OF DISSOLUTION OF GROUP
   
  Not applicable.

 

Item 10. CERTIFICATION

 

  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

CUSIP No. 24790A101 SCHEDULE 13G/A Page 8 of 8 Pages

 

SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Date:  February 1, 2022  
   
 

Cyrus Capital Partners, L.P.

By: Cyrus Capital Partners GP, L.L.C., its general partner

     
  By: /s/  Stephen C. Freidheim
  Name: Stephen C. Freidheim
  Title: Manager
     
     
  Cyrus Capital Partners GP, L.L.C.
   
     
  By: /s/  Stephen C. Freidheim
  Name: Stephen C. Freidheim
  Title: Manager
     
     
  /s/ Stephen C. Freidheim
  Stephen C. Freidheim
     

 

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