Statement of Changes in Beneficial Ownership (4)

Date : 07/05/2019 @ 11:22PM
Source : Edgar (US Regulatory)
Stock : FTE Networks Inc (FTNW)
Quote : 1.5  0.0 (0.00%) @ 12:00AM

Statement of Changes in Beneficial Ownership (4)

FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

LATERAL INVESTMENT MANAGEMENT, LLC
2. Issuer Name and Ticker or Trading Symbol

FTE Networks, Inc. [ FTNW ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

400 SOUTH EL CAMINO REAL, SUITE 1100
3. Date of Earliest Transaction (MM/DD/YYYY)

2/20/2019
(Street)

SAN MATEO, CA 94402
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   7/2/2019   7/2/2019   J (1)    1500000   A   (1) 4193207   I   Held by a fund managed by Lateral Investment Management, LLC   (6) (7)
Common Stock   2/20/2019   2/20/2019   J (2)    1005753   A   (2) 1426951   I   Held by a fund managed by Lateral Investment Management, LLC   (3)
Common Stock   7/2/2019   7/2/2019   J (1)    505724   A   (1) 2166085   I   Held by a fund managed by Lateral Investment Management, LLC   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (right to buy)     (4) (5) 7/2/2018     J   (4) (5)    3173730   (4) (5)        (4) (5)   (4) (5) Common Stock   3173730   (4) (5)   (4) (5) 3173730   (4) (5) I   Held by a fund managed by Lateral Investment Management, LLC   (6) (7)

Explanation of Responses:
(1)  On July 2, 2019, the reporting persons named herein (the "Reporting Persons") acquired shares of the Issuer's Common Stock in connection with the extension of credit under that certain Credit Agreement previously described in the Issuer's Current Reports on Form 8-K filed on November 3, 2015, February 15, 2019, and June 14, 2019 (the "Credit Agreement").
(2)  On February 20, 2019, Niagara Nominee, L.P., acquired shares of the Issuer's Common Stock in connection with the extension of credit under the Credit Agreement.
(3)  Following the transactions described in Footnote 1 and 2, the shares reported herein are held by Niagara Nominee L.P.
(4)  On July 2, 2019, the Reporting Persons acquired warrants to purchase shares of the Issuer's Common Stock in connection with the extension of credit under the Credit Agreement. The warrants have an initial exercise price of $3.00 per share; provided that in the event the super-senior bridge loan under the Credit Agreement has not been paid by October 31, 2019, the exercise price per share of half of the warrants shall be automatically reset to $0.01 and in the event the super-senior bridge loan under the Credit Agreement has not been paid by December 31, 2019, the exercise price per share of the other half of the warrants shall be automatically reset to $0.01. The shares underlying such warrants have not been issued as of the date of this filing.
(5)  (Continued from Footnote 4) The Issuer also agreed that the aggregate number of shares of the Issuer's common stock issuable upon exercise of the warrants will be automatically adjusted on December 31, 2019 such that that the Reporting Persons will beneficially own, in the aggregate, inclusive of all shares of common stock previously issued, 25% of the outstanding shares of the Issuer's common stock on a fully-diluted basis, subject to certain exceptions.
(6)  Following the transactions described in Footnotes 1, 2, 4, and 5, the shares and warrants reported herein are held by Lateral U.S. Credit Opportunities Fund, WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC. Lateral Investment Management, LLC is the sole manager of WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC. Lateral Investment Management, LLC has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P. Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P.; and Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Credit Opportunities, LLC. Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Investment Management, LLC.
(7)  (Continued from Footnote 6) As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Dhamitha Richard de Silva, and Patrick Feeney may be deemed to beneficially own the warrants of Common Stock held by Lateral U.S. Credit Opportunities Fund, WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC.

Remarks:
The Reporting Persons filing this Form 4 jointly are the following: Lateral Investment Management, LLC; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva; and Patrick Feeney. The address of each of the Reporting Persons is 400 South El Camino Real, Suite 1100, San Mateo, CA 94402.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
LATERAL INVESTMENT MANAGEMENT, LLC
400 SOUTH EL CAMINO REAL, SUITE 1100
SAN MATEO, CA 94402

X

Lateral Credit Opportunities, LLC
400 SOUTH EL CAMINO REAL, SUITE 1100
SAN MATEO, CA 94402

X

de Silva Richard
400 SOUTH EL CAMINO REAL, SUITE 1100
SAN MATEO, CA 94402

X

Feeney Patrick James
400 SOUTH EL CAMINO REAL, SUITE 1100
SAN MATEO, CA 94402

X


Signatures
Dhamitha Richard de Silva 7/5/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

FTE Networks (AMEX:FTNW)
Historical Stock Chart

1 Year : From Dec 2018 to Dec 2019

Click Here for more FTE Networks Charts.

FTE Networks (AMEX:FTNW)
Intraday Stock Chart

Today : Saturday 14 December 2019

Click Here for more FTE Networks Charts.

Latest FTNW Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.