Sec Form 13G Filing - Carlson Capital L.P. @ ZOGENIX INC.

Sec Form 13G Filing - Carlson Capital L.P. filing for ZOGENIX INC. (ZGNX) - 2022-03-11

Insider filing report for Changes in Beneficial Ownership

Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Zogenix, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

98978L105

(CUSIP Number)

March 4, 2022

(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)

*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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).


CUSIP No. 98978L105		SCHEDULE 13G		Page 2 of 14 Pages


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CUSIP No. 98978L105		SCHEDULE 13G		Page 4 of 14 Pages


CUSIP No. 98978L105		SCHEDULE 13G		Page 5 of 14 Pages


CUSIP No. 98978L105		SCHEDULE 13G		Page 6 of 14 Pages


CUSIP No. 98978L105		SCHEDULE 13G		Page 7 of 14 Pages


CUSIP No. 98978L105		SCHEDULE 13G		Page 8 of 14 Pages


CUSIP No. 98978L105		SCHEDULE 13G		Page 9 of 14 Pages

Item 1(a).

NAME OF ISSUER

Zogenix, Inc., a Delaware corporation (the “Issuer”).

Item 1(b).

ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES

5959 Horton Street, Suite 500

Charlotte, North Carolina 28209

Item 2(a).

NAME OF PERSON FILING

This statement is filed by:

(i) Double Black Diamond Offshore Ltd., a Cayman Islands exempted company (“Double Offshore”), with respect to the Common Stock directly held by it;

(ii) Black Diamond Arbitrage Offshore Ltd., a Cayman Islands exempted company (“Arbitrage Offshore”), with respect to the Common Stock directly held by it;

(iii) Delaware Domiciled Single Investor Limited Partnership – 101, a Delaware limited partnership (“SILP”);

(iv) Corbin Hedged Equity Fund, L.P., a Delaware Limited Partnership (“Corbin” and together with Double Offshore, Arbitrage Offshore and SILP, the “Funds”), with respect to the Common Stock directly held by it;

(v) Carlson Capital, L.P., a Delaware limited partnership (“Carlson Capital”), which serves as the investment manager to the Funds with respect to any shares of Common Stock of the Issuer held by the Funds;

(vi) Asgard Investment Corp. II, a Delaware corporation (“Asgard II”), which serves as the general partner of Carlson Capital, with respect to the Common Stock directly held by the Funds; and


CUSIP No. 98978L105		SCHEDULE 13G		Page 10 of 14 Pages

(vii) Mr. Clint D. Carlson, a United States citizen (“Mr. Carlson”), who is the sole stockholder of Asgard II and serves as president of Asgard II and Carlson Capital, with respect to the Common Stock directly held by the Funds.

The foregoing persons are hereinafter sometimes collectively referred to as the “Reporting Pe rsons”.

The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.

Item 2(b).

ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

The address of the principal business office of each of the Reporting Persons is 2100 McKinney Avenue, Suite 1800, Dallas, Texas 75201.

Item 2(c).

CITIZENSHIP

Carlson Capital, SILP and Corbin are Delaware limited partnerships. Double Offshore and Arbitrage Offshore are Cayman Islands exempted company or exempted limited partnership. Asgard II is a Delaware corporation. Mr. Carlson is a United States citizen.

Item 2(d).

TITLE OF CLASS OF SECURITIES

Common Stock, par value $0.0001 per share (the “Common Stock”).

Item 2(e).

CUSIP No.

98978L105

Item 3.

IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B), OR 240.13D-2(B) OR (C), 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);

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 adviser 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) ☐

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J).

(k) ☐

Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution:


CUSIP No. 98978L105		SCHEDULE 13G		Page 11 of 14 Pages

Item 4.

OWNERSHIP

Double Offshore:

(a)

Amount beneficially owned: 746,927

(b)

Percent of class: 1.33%

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 746,927

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 746,927

Arbitrage Offshore:

(a)

Amount beneficially owned: 2,467,553

(b)

Percent of class: 4.39 %

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 2,467,553

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 2,467,553

SILP:

(a)

Amount beneficially owned: 622,468

(b)

Percent of class: 1.11%

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 622,468

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 622,468

Corbin:

(a)

Amount beneficially owned: 163,052

(b)

Percent of class: 0.29%

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 163,052

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 163,052

Carlson Capital:

(a)

Amount beneficially owned: 4,000,000

(b)

Percent of class: 7.11%

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 4,000,000

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 4,000,000

Asgard II:

(a)

Amount beneficially owned: 4,000,000

(b)

Percent of class: 7.11%

Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 4,000,000

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 4,000,000

Mr. Carlson:

(a)

Amount beneficially owned: 4,000,000

(b)

Percent of class: 7.11%

(c)

(i) Sole power to vote or direct the vote: 0

(ii)

Shared power to vote or direct the vote: 4,000,000

(iii)

Sole power to dispose or direct the disposition: 0

(iv)

Shared power to dispose or direct the disposition: 4,000,000


CUSIP No. 98978L105		SCHEDULE 13G		Page 12 of 14 Pages

The percentages used herein and in the rest of the Schedule 13G are based on 56,227,441 shares of Common Stock outstanding as of February 25, 2022, as per the Issuer’s Form 10-Q dated March 1, 2022. As of March 11, 2022 the Reporting Persons beneficially owned 4,000,000 shares of Common Stock in the aggregate, representing approximately 7.11% of the outstanding Common Stock.

Item 5.

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

Item 6.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Not applicable.

Item 7.

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON

Not applicable.

Item 8.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Not applicable.

Item 9.

NOTICE OF DISSOLUTION OF GROUP

Not applicable.

Item 10.

CERTIFICATION

Each of the Reporting Persons hereby makes the following certification:

By signing below, each Reporting Person certifies that, to the best of his or its 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.


CUSIP No. 98978L105		SCHEDULE 13G		Page 13 of 14 Pages

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATED: March 11, 2022


DOUBLE BLACK DIAMOND OFFSHORE LTD.
By: Carlson Capital, L.P., its investment manager

By: Asgard Investment Corp. II, its general partner

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President

BLACK DIAMOND ARBITRAGE OFFSHORE LTD.
By: Carlson Capital, L.P., its investment manager

By: Asgard Investment Corp. II, its general partner

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President

DELAWARE DOMICILED SINGLE INVESTOR LIMITED PARTNERSHIP - 101
By: Carlson Capital, L.P., its investment manager

By: Asgard Investment Corp. II, its general partner

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President

CORBIN HEDGED EQUITY FUND, L.P.
By: Carlson Capital, L.P., its investment manager

By: Asgard Investment Corp. II, its general partner

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President

CARLSON CAPITAL, L.P.
By: Asgard Investment Corp. II, its general partner

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President

ASGARD INVESTMENT CORP. II

By:		/s/ Clint D. Carlson
Name:		Clint D. Carlson
Title:		President


CUSIP No. 98978L105		SCHEDULE 13G		Page 14 of 14 Pages



CLINT D. CARLSON

/s/ Clint D. Carlson

NAMES OF REPORTING PERSON

Double Black Diamond Offshore Ltd.

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐ (b) ☒

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands