Amended Statement of Beneficial Ownership (sc 13d/a)
March 14 2017 - 8:03AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule
13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Bravo Brio
Restaurant Group, Inc.
(Name of Issuer)
Common Stock
(Title of
Class of Securities)
10567B109
(CUSIP Number)
James L.
Wolfe
TAC Capital LLC
One Momentum Blvd., Suite 1000
College Station, Texas 77845
(979)
776-1111
with a copy to:
Michael G. Keeley
Norton Rose Fulbright US LLP
2200 Ross Avenue, Suite 3600
Dallas, Texas 75201
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 14, 2017
(Date of Event Which Requires Filing of this Statement)
If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§
240.13d-1(e),
240.13d-1(f)
or
240.13d-1(g),
check the following box. ☒
*
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The remainder of this cover page shall be filled out for a reporting persons 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.
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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).
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1
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Name of
Reporting Person
TAC Capital LLC
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2
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Check the Appropriate Box if a Member
of a Group
(a) ☐ (b) ☒
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3
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SEC Use Only
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4
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Source of Funds
WC
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5
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Check Box if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐
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6
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Citizenship or Place of
Organization
Delaware
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Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
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7
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Sole Voting Power
0
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8
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Shared Voting Power
2,200,459
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9
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Sole Dispositive Power
0
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10
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Shared Dispositive Power
2,200,459
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11
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Aggregate Amount Beneficially Owned by Each Reporting Person
2,200,459
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12
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Check Box if the Aggregate Amount in
Row (11) Excludes Certain Shares
☐
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13
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Percent of Class Represented by Amount
in Row 11
14.5% (1)
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14
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Type of Reporting Person
OO
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(1)
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Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form
10-K
for the fiscal
year ended December 25, 2016 filed with the Securities and Exchange Commission (SEC) on March 6, 2017.
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2
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1
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Name of
Reporting Person
TAC Financial Corporation
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2
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Check the Appropriate Box if a Member
of a Group
(a) ☐ (b) ☒
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3
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SEC Use Only
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4
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Source of Funds
N/A
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5
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Check Box if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐
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6
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Citizenship or Place of
Organization
Delaware
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Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
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7
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Sole Voting Power
0
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8
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Shared Voting Power
2,200,459
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9
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Sole Dispositive Power
0
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10
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Shared Dispositive Power
2,200,459
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11
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Aggregate Amount Beneficially Owned by Each Reporting Person
2,200,459
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12
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Check Box if the Aggregate Amount in
Row (11) Excludes Certain Shares
☐
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13
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Percent of Class Represented by Amount
in Row 11
14.5% (1)
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14
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Type of Reporting Person
CO
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(1)
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Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form
10-K
for the fiscal
year ended December 25, 2016 filed with the SEC on March 6, 2017.
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3
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1
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Name of
Reporting Person
The Adam Corporation/Group
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2
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Check the Appropriate Box if a Member
of a Group
(a) ☐ (b) ☒
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3
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SEC Use Only
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4
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Source of Funds
N/A
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5
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Check Box if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐
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6
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Citizenship or Place of
Organization
Texas
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Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
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7
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Sole Voting Power
0
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8
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|
Shared Voting Power
2,200,459
|
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9
|
|
Sole Dispositive Power
0
|
|
10
|
|
Shared Dispositive Power
2,200,459
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11
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|
Aggregate Amount Beneficially Owned by Each Reporting Person
2,200,459
|
12
|
|
Check Box if the Aggregate Amount in
Row (11) Excludes Certain Shares
☐
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13
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Percent of Class Represented by Amount
in Row 11
14.5% (1)
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14
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Type of Reporting Person
CO
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(1)
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Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form
10-K
for the fiscal
year ended December 25, 2016 filed with the SEC on March 6, 2017.
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4
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1
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Name of
Reporting Person
Donald A. Adam
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2
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Check the Appropriate Box if a Member
of a Group
(a) ☐ (b) ☒
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3
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SEC Use Only
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4
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Source of Funds
N/A
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5
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Check Box if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐
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6
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Citizenship or Place of
Organization
United States of America
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Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
|
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7
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|
Sole Voting Power
0
|
|
8
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|
Shared Voting Power
2,200,459
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9
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Sole Dispositive Power
0
|
|
10
|
|
Shared Dispositive Power
2,200,459
|
11
|
|
Aggregate Amount Beneficially Owned by Each Reporting Person
2,200,459
|
12
|
|
Check Box if the Aggregate Amount in
Row (11) Excludes Certain Shares
☐
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13
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Percent of Class Represented by Amount
in Row 11
14.5% (1)
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14
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Type of Reporting Person
IN
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(1)
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Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form
10-K
for the fiscal
year ended December 25, 2016 filed with the SEC on March 6, 2017.
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5
Explanatory Note
This Amendment No. 1 to Schedule 13D (this Amendment No. 1) amends the Schedule 13D (the
Schedule 13D) filed by TAC Capital LLC, a Delaware limited liability company, on January 19, 2017 with respect to common shares, no par value per share, of Bravo Brio Restaurant Group, Inc., an Ohio corporation (the
Issuer).
On March 14, 2017, Mr. Adam sent an open letter to the Issuers board of directors, highlighting
recent poor performance and shareholder value destruction, identifying current corporate governance issues, and raising concerns about the recently announced decisions to engage investment bankers and delay the 2017 annual meeting of shareholders.
This Amendment No. 1 amends Item 4 and Item 7, as specifically set forth herein. Unless amended or supplemented by this Amendment
No. 1, all information previously reported on the Schedule 13D remains in effect.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended by the addition of the following sentences at the end of the third paragraph:
On March 14, 2017, Mr. Adam sent an open letter to the Issuers board of directors, highlighting recent poor performance and
shareholder value destruction, identifying current corporate governance issues, and raising concerns about the recently announced decisions to engage investment bankers and delay the 2017 annual meeting of shareholders. A copy of the letter is
attached as Exhibit 99.3.
Item 7. Materials to be Filed as Exhibits
Item 7 of the Schedule 13D is hereby amended to add the following exhibit:
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Exhibit 99.3:
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Open letter sent to the Board of Directors of Bravo Brio Restaurant Group, Inc., dated
March 14, 2017.
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6
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: March 14, 2017
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TAC CAPITAL LLC
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By:
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/s/ James L. Wolfe
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Name: James L. Wolfe
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Title: Vice President
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TAC FINANCIAL CORPORATION
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By:
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/s/ James L. Wolfe
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Name: James L. Wolfe
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Title: Vice President
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THE ADAM CORPORATION/GROUP
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By:
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/s/ James L. Wolfe
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Name: James L. Wolfe
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Title: President
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DONALD A. ADAM
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/s/ Donald A. Adam
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7
EXHIBIT INDEX
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Exhibit No.
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Description
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99.3
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Open letter sent to the Board of Directors of Bravo Brio Restaurant Group, Inc., dated
March 14, 2017.
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8
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