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.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No.1 )
International Seaways, Inc.*
(Name of Issuer)
Common Stock
(Title of Classes of Securities)
Y41053102
(CUSIP Numbers)
January 31, 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:
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:X
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Rule 13d-1(b)
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:
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Rule 13d-1(c)
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:
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Rule 13d-1(d)
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*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.: Y41053102
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1
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NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
WL Ross & Co. LLC
IRS # 13-4106462
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware, United States
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER – 1,378,586
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6
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SHARED VOTING POWER – 0
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7
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SOLE DISPOSITIVE POWER – 1,378,586
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8
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SHARED DISPOSITIVE POWER – 0
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,378,586
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.72%
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12
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TYPE OF REPORTING PERSON*
See Item 3 of this statement
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Item 1(a). Name of Issuer:
International Seaways, Inc.
(b). Address of Issuer’s Principal Executive Offices:
600 3rd Avenue, 39th Floor, New York, NY 10016
1 Item 2(a). Name of
Person Filing:
WL Ross & Co LLC.
(b). Address of Principal Business Office or, if none, residence of filing person:
2001 Ross Avenue, Suite 3400, Dallas, TX 75201
(c). Citizenship of filing person:
State of Delaware, United States
(d). Title of Classes of Securities:
Common Stock
(e). CUSIP Numbers:
Y41053102
Item 3. If this
Statement is Filed Pursuant to ss240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
(e) [x] An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E)
(g) [x] A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G)
Item 4. Ownership:
Please see responses to Items 5-8 on the cover of this statement, which are incorporated herein by reference.
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 five percent of the class of securities, check the following [X ]
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:
NA
Item 8.
Identification and Classification of Members of the Group:
Not Applicable. This schedule is not being filed pursuant to Rule 13d-1(b)(1)(ii)(J) or Rule 13d-1(d).
Item 9. Notice of
Dissolution of a Group:
Not Applicable.
Item 10.
Certification:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired
and are held in the ordinary course of business and 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.
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.
WL Ross & Co LLC
By: /s/Josh E Levit
Date: 02/10/2022
Name: Josh
E Levit
Title: Chief Compliance Officer