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CUSIP No. 72765Q601
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Page
5
of 6
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EXPLANATORY NOTE
This
Amendment No. 1 to Schedule 13D amends and supplements the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on December 28, 2020 (the Schedule 13D), and amends and supplements the Schedule
13D as specifically set forth herein. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Information given in response to each item shall be deemed incorporated by
reference in all other items, as applicable. Except as set forth below, all previous Items remain unchanged.
Item 4. Purpose of
Transaction.
Item 4 of Schedule 13D is hereby amended and supplemented by adding the following paragraphs:
From February 10, 2021 to February 18, 2021, HCI, through Deepkloof, sold an aggregate of 757,833 Shares in open market transactions
on the New York Stock Exchange for aggregate gross proceeds of $3,995,812. After giving effect to such sales, the Reporting Persons beneficially owned 29.2% of the total amount of Shares outstanding as of February 26, 2021.
On February 11, 2021, Deepkloof filed a Form 144 with the SEC disclosing its intent to sell up to 2,600,000 Shares. Subject to applicable
securities laws and regulations, market conditions and other factors, the Reporting Persons plan to sell such Shares opportunistically, but reserve the right to acquire securities of the Issuer, including Shares. There can be no assurance, however,
that any Reporting Person will take any such actions.
Item 5. Interest in Securities of the Issuer.
Item 5 of Schedule 13D is hereby amended and restated in its entirety as follows:
(a), (b)
Deepkloof
beneficially owns 21,592,021 Shares, representing 29.2% of the 73,829,627 Shares outstanding as of February 26, 2021 as reported on the Companys website on such date. HCI holds 100% of the equity interests in Invest14, and Invest14 holds 100%
of the equity interests in Deepkloof. As a result, each of HCI and Invest14 may be deemed to beneficially own, and have shared voting and dispositive power with respect to, all such Shares.
(c)
The Reporting Persons sold
the following Shares in the open market in the sixty days preceding the date of this filing:
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Date of Sale
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Weighted Average
Price
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Number of
Shares Sold
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February 10, 2021
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$
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5.1043
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55,085
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February 11, 2021
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$
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5.1044
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41,642
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February 12, 2021
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$
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5.1136
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106,158
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February 16, 2021
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$
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5.3464
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400,000
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February 17, 2021
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$
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5.2963
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148,800
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February 18, 2021
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$
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5.3002
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6,148
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(d)
No person (other than the Reporting Persons) has the right to receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, Shares beneficially owned by the Reporting Persons.