SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

SCHEDULE 13G/A

(Rule 13d-102)

(Amendment No. 8)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO

RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

 

Loral Space & Communications Inc.

(Name of Issuer)

Voting common stock, par value $0.01 per share

(Title of Class of Securities)

543881106

(CUSIP Number)

December 31, 2019

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☒ Rule 13d-1(b)

☐ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

 

 


CUSIP No. 543881106    13G/A    Page 2 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Highland Global Allocation Fund

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Massachusetts

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

129,945**

   6   

SHARED VOTING POWER

 

0

   7   

SOLE DISPOSITIVE POWER

 

129,945**

   8   

SHARED DISPOSITIVE POWER

 

0

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

129,945**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.6%**

12  

TYPE OF REPORTING PERSON*

 

IV, OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 3 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Highland Income Fund

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Massachusetts

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

49,600**

   6   

SHARED VOTING POWER

 

0

   7   

SOLE DISPOSITIVE POWER

 

49,600**

   8   

SHARED DISPOSITIVE POWER

 

0

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

49,600**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.2%**

12  

TYPE OF REPORTING PERSON*

 

IV, OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 4 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Highland Capital Management Fund Advisors, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

179,545**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

179,545**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

179,545**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.8%**

12  

TYPE OF REPORTING PERSON*

 

IA, PN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 5 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Strand Advisors XVI, Inc.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

179,545**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

179,545**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

179,545**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.8%**

12  

TYPE OF REPORTING PERSON*

 

HC, CO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 6 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

NexPoint Strategic Opportunities Fund

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

13,722**

   6   

SHARED VOTING POWER

 

0

   7   

SOLE DISPOSITIVE POWER

 

13,722**

   8   

SHARED DISPOSITIVE POWER

 

0

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

13,722**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.1%**

12  

TYPE OF REPORTING PERSON*

 

IV, OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 7 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

NexPoint Advisors, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

13,722**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

13,722**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

13,722**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.1%**

12  

TYPE OF REPORTING PERSON*

 

IA, PN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 8 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

NexPoint Advisors GP, LLC

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

13,722**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

13,722**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

13,722**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.1%**

12  

TYPE OF REPORTING PERSON*

 

HC, OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 9 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Highland Capital Management, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

686,400**

   6   

SHARED VOTING POWER

 

1,199,844**

   7   

SOLE DISPOSITIVE POWER

 

686,400**

   8   

SHARED DISPOSITIVE POWER

 

1,199,844**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,866,244**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.8%**

12  

TYPE OF REPORTING PERSON*

 

IA, PN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 10 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

Strand Advisors, Inc.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

1,866,244**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

1,866,244**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,866,244**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.8%**

12  

TYPE OF REPORTING PERSON*

 

HC, CO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


CUSIP No. 543881106    13G/A    Page 11 of 17

 

 

  1    

NAME OF REPORTING PERSONS

 

James D. Dondero

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ☐        (b)  ☐

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING PERSON

WITH

   5      

SOLE VOTING POWER

 

0

   6   

SHARED VOTING POWER

 

2,079,511**

   7   

SOLE DISPOSITIVE POWER

 

0

   8   

SHARED DISPOSITIVE POWER

 

2,079,511**

  9    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,079,511**

10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

9.7%**

12  

TYPE OF REPORTING PERSON*

 

HC, IN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT

**

SEE ITEM 4.


SCHEDULE 13G/A

This Amendment No. 8 to the Schedule 13G (this “Amendment”) is being filed on behalf of Highland Global Allocation Fund, a Massachusetts business trust (the “Global Fund”), Highland Income Fund, a Massachusetts business trust (the “Income Fund”), Highland Capital Management Fund Advisors, L.P., a Delaware limited partnership (“Highland Fund Advisors”), Strand Advisors XVI, Inc., a Delaware corporation (“Strand XVI”), NexPoint Strategic Opportunities Fund (formerly, NexPoint Credit Strategies Fund), a Delaware statutory trust (the “NexPoint Fund”), NexPoint Advisors, L.P., a Delaware limited partnership (“NexPoint”), NexPoint Advisors GP, LLC, a Delaware limited liability company (“NexPoint GP”), Highland Capital Management, L.P., a Delaware limited partnership (“Highland Capital”), Strand Advisors, Inc., a Delaware corporation (“Strand”), and James D. Dondero (collectively, the “Reporting Persons”). This Amendment modifies the original Schedule 13G filed with the Securities and Exchange Commission on October 2, 2012, as subsequently amended on February 14, 2013, as subsequently amended on February 14, 2014, as subsequently amended on February 17, 2015, as subsequently amended on February 11, 2016, as subsequently amended on February 10, 2017, as subsequently amended on February 14, 2018, as subsequently amended on February 14, 2019 (collectively, the “Original 13G”) by the Reporting Persons.

Lauren Thedford is the Secretary of Strand XVI, James D. Dondero is the President of NexPoint GP. Effective January 2020, Mr. Dondero is no longer a member of the board of Strand as a result of a change of control of Highland Capital. Nevertheless, given Mr. Dondero’s historic role with Highland Capital and his continued ownership interest and role as portfolio manager to the Funds (defined below) and Highland Capital Management Services Inc., a Delaware corporation (“Highland Services”), we have included Mr. Dondero and certain entities controlled by Mr. Dondero in this filing. Strand XVI is the general partner of Highland Fund Advisors. Highland Fund Advisors is the investment advisor to the Global Fund and the Income Fund. NexPoint GP is the general partner of NexPoint. NexPoint is the investment advisor to the NexPoint Fund. Strand is the general partner of Highland Capital. Highland Capital serves as the investment advisor to a private fund (the “HCM Fund” and collectively with the Global Fund, the Income Fund and the NexPoint Fund, the “Funds”) and the investment advisor to Highland Services. This Amendment relates to the voting common stock, par value $0.01 per share (the “Common Stock”), of Loral Space & Communications Inc., a Delaware corporation (the “Issuer”), held by (i) the Funds (ii) Highland Capital and (iii) Highland Services.

 

Item 3

Reporting Person.

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a:

 

  (a)       Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
  (b)       Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
  (c)       Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).


  (d)       Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
  (e)       An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E).
  (f)       An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).
  (g)       A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
  (h)       A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
  (i)       A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
  (j)       Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4

Ownership.

Item 4 of the Original 13G is hereby amended and restated to read as follows:

 

  (a)

The Global Fund may be deemed the beneficial owner of 129,945 shares of Common Stock that it holds directly. The Income Fund may be deemed the beneficial owner of 49,600 shares of Common Stock that it holds directly. Highland Fund Advisors, as the investment advisor to the Global Fund and the Income Fund, and Strand XVI, as the general partner of Highland Fund Advisors, may be deemed the beneficial owners of the 179,545 shares of Common Stock held by the Global Fund and the Income Fund.

The NexPoint Fund may be deemed the beneficial owner of 13,722 shares of Common Stock that it holds directly. NexPoint, as the investment advisor to the NexPoint Fund, and NexPoint GP, as the general partner of NexPoint, may be deemed the beneficial owners of the 13,722 shares of Common Stock held by the NexPoint Fund.

Highland Capital may be deemed the beneficial owner of the 686,400 shares of Common Stock it holds directly. As the investment advisor to the HCM Fund and Highland Services, Highland Capital and Strand, as the general partner of Highland Capital, may be deemed the beneficial owners of the 1,199,844 shares of Common Stock held by the HCM Fund and Highland Services.

Mr. Dondero may be deemed the beneficial owner of the 2,079,511 shares of Common Stock held by (i) the Funds (ii) Highland Capital and (iii) Highland Services.


  (b)

The Global Fund, the Income Fund, Highland Fund Advisors and Strand XVI may be deemed the beneficial owners of 0.8% of the outstanding shares of Common Stock held by the Global Fund. This percentage was determined by dividing 179,545, the number of shares of Common Stock held directly by the Global Fund and the Income Fund, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

The NexPoint Fund, NexPoint and NexPoint GP may be deemed the beneficial owners of less than 0.1% of the outstanding shares of Common Stock held by the NexPoint Fund. This percentage was determined by dividing 13,722, the number of shares of Common Stock held directly by the NexPoint Fund, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

Highland Capital and Strand may be deemed the beneficial owner of 8.8% of the outstanding Common Stock. This percentage was determined by dividing 1,866,244, the number of shares of Common Stock held directly by (i) the HCM Fund, (ii) Highland Services and (ii) Highland Capital, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

Mr. Dondero may be deemed the beneficial owner of 9.7% of the outstanding Common Stock. This percentage was determined by dividing 2,079,511, the number of shares of Common Stock held directly by (i) the Funds, (ii) Highland Capital and (iii) Highland Services, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

 

  (c)

The Global Fund has the sole power to vote and dispose of the 129,945 shares of Common Stock that it holds directly. The Income Fund has the sole power to vote and dispose of the 49,600 shares of Common Stock that it holds directly. Highland Fund Advisors and Strand XVI have the shared power to vote and dispose of the 179,545 shares of Common Stock held by the Global Fund and the Income Fund.

The NexPoint Fund has the sole power to vote and dispose of the 13,722 shares of Common Stock that it holds directly. NexPoint and NexPoint GP have the shared power to vote and dispose of the 13,722 shares of Common Stock held by the NexPoint Fund.

Highland Capital has the sole power to vote and dispose of the 686,400 shares of Common Stock it holds directly. Highland Capital and Strand have the shared power to vote and dispose of the 1,199,844 shares of Common Stock held by the HCM Fund and Highland Services.


Mr. Dondero has the shared power to vote and dispose of the 2,079,511 shares of Common Stock held by (i) the Funds, (ii) Highland Capital and (iii) Highland Services.

 

Item 10

Certification.

By signing below each of the Reporting Persons certifies that, to the best of such person’s knowledge and belief, the securities referred to above 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.

 

Exhibits

Exhibit 99-1

Joint Filing Agreement, dated February 14, 2020, by and among the Global Fund, the Income Fund, Highland Fund Advisors, Strand XVI, NexPoint Fund, NexPoint, NexPoint GP, Highland Capital, Strand, and Mr. Dondero.


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.

Date: February 14, 2020

 

HIGHLAND GLOBAL ALLOCATION FUND
           By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
HIGHLAND INCOME FUND
  By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.
By: Strand Advisors XVI, Inc., its general partner
  By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
STRAND ADVISORS XVI, INC.
  By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
NEXPOINT STRATEGIC OPPORTUNITIES FUND
  By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary


NEXPOINT ADVISORS, L.P.
By: NexPoint Advisors GP, LLC, its general partner
        By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
NEXPOINT ADVISORS GP, LLC
  By:  

/s/ Lauren Thedford

    Name: Lauren Thedford
    Title: Secretary
HIGHLAND CAPITAL MANAGEMENT, L.P.
By: Strand Advisors, Inc., its general partner
  By:  

/s/ Scott Ellington

    Name: Scott Ellington
    Title: Secretary

 

STRAND ADVISORS, INC.
By:  

/s/ Scott Ellington

Name:   Scott Ellington
Title:   Secretary

/s/ James D. Dondero

James D. Dondero

 

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