This amendment (this “Amendment No. 3”) amends the Schedule 13D filed by the
Reporting Persons on May 13, 2021 (the “Original Schedule 13D”, as amended by that certain Amendment No. 1 filed by the Reporting Persons on April 14, 2023, the “Schedule 13D Amendment No. 1”, as further
amended by that certain Amendment No. 2 filed by the Reporting Persons on June 7, 2023, the “Schedule 13D Amendment No. 2”, and, as further amended by this Amendment No. 3, the “Schedule 13D”).
Capitalized terms used herein but not defined herein shall have the respective meanings defined in the Original Schedule 13D, the Schedule 13D Amendment No. 1, or the Schedule 13D Amendment No. 2, as applicable. The
Schedule 13D is amended hereby only as specifically set forth herein, provided that with respect to any Item amended herein, if such Item is incorporated by reference into any other Item in the Schedule 13D as
previously amended, such incorporation by reference is also amended hereby.
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Item 4.
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Purpose of Transaction
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Item 4 is hereby amended by the addition of the following:
Effective after the close of market on June 12, 2023, each outstanding share of Series A Preferred Stock of the Company converted into one share of
Common Stock. In addition, holders of the Series A Preferred Stock as of the conversion are entitled to receive, in respect of each share of Series A Preferred Stock held immediately prior to the conversion, a payment
of the accrued and unpaid dividends on the Series A Preferred Stock through June 30, 2023, plus an additional amount that represents the dividends that would have accrued on the Series A Preferred Stock through
September 30, 2023. In the aggregate, this additional payment per share of Series A Preferred Stock is comprised of $0.144375 in cash, and approximately 0.104379 shares of Common Stock (representing $0.853509 in
accrued and unpaid dividends per share, valued at $8.177 per share), subject to adjustment to avoid the issuance of fractional shares of Common Stock. As a result of the conversion, 9,160,474 shares of Series A
Preferred Stock held by Credit Partners Master were converted into shares of Common Stock, and 22,869,013 shares of Series A Preferred Stock held by SC III Flex were converted into shares of Common Stock. In addition,
Credit Partners Master and SC III Flex received 956,163 shares of Common Stock and 2,387,050 shares of Common Stock, respectively (valued at $8.177 per share), and approximately $1,322,543 and $3,301,714 in cash,
respectively, in respect of accrued and unpaid dividends on the Series A Preferred Stock.
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Item 5.
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Interest in Securities of the Issuer.
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Item 5 is hereby amended and restated to read as follows:
(a) and (b).
The information required by Items 5(a) – (b) is set forth in rows 7 – 13 of the cover page for each of the Reporting Persons and is incorporated
herein by reference.
(c).
The information set forth in Item 4 of this Amendment No. 3 is incorporated by reference in this Item 5 (c).