Sec Form 13G Filing - Beach Point Capital Management LP filing for MONEYGRAM INTERNATIONAL INC (MGI) - 2022-02-08

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

 (Name of Issuer)

 (Title of Class of Securities)

 (CUSIP Number)

 (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 Instructions).

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1	NAMES OF REPORTING PERSONS
	Beach Point Capital Management LP ("Beach Point Capital")
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
			6,949,230**see Note 1**
		7	SOLE DISPOSITIVE POWER
			0
		8	SHARED DISPOSITIVE POWER
			6,949,230**see Note 1**
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	6,949,230**see Note 1**
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	7.23%
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IA

1	NAMES OF REPORTING PERSONS
	Beach Point GP LLC ("Beach Point GP")
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
			6,949,230 **see Note 1**
		7	SOLE DISPOSITIVE POWER
			0
		8	SHARED DISPOSITIVE POWER
			6,949,230 **see Note 1**
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	6,949,230 **see Note 1**
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	7.23%
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	HC

ITEM 1(a).

NAME OF ISSUER:

MONEYGRAM INTERNATIONAL, INC. (the "Issuer")

ITEM 1(b).

ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

2828 N. Harwood Street, 15th Floor, Dallas, TX, 75201

ITEM 2(a).

NAME OF PERSON FILING:

Beach Point Capital

Beach Point GP

ITEM 2(b).

ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

c/o Beach Point Capital Management LP, 1620 26th Street Suite 6000n, Santa Monica, CA 90404

ITEM 2(c).

CITIZENSHIP:

Beach Point Capital - Delaware

Beach Point GP - Delaware

ITEM 2(d).

TITLE OF CLASS OF SECURITIES:

COMMON STOCK, PAR VALUE $0.01 PER SHARE (“Common Stock”)

ITEM 2(e).

CUSIP NUMBER:

60935Y208

ITEM 3.

IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A:

ITEM 4.

OWNERSHIP:

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:

6,949,230 by each of Beach Point Capital and Beach Point GP (collectively, “Beach Point”). This amount includes 2,490,916 Common Stock and 4,458,314 shares of Common Stock that Beach Point has the right to acquire upon exercise of warrants beneficially owned by Beach Point, which are exercisable at the option of the holder at any time into shares of Common Stock on a one-for-one basis (“Warrants”).  **see Note 1**

The Common Stock reported as beneficially owned by Beach Point in this Schedule 13G includes 6,949,230 shares of Common Stock held, or obtainable upon exercise of Warrants held, by certain clients of Beach Point (the "Clients").

(b) Percent of class:

7.23% by each of Beach Point Capital and Beach Point GP. The percent of class is based on the sum of (i) 91,688,411 shares of Common Stock outstanding as of October 27, 2021, as reported on the Issuer's quarterly report on Form 10-Q filed on October 29, 2021, plus (ii) 4,458,314 shares of Common Stock that Beach Point has the right to acquire upon exercise of Warrants beneficially owned by Beach Point, which are exercisable at the option of the holder at any time into shares of Common Stock on a one-for-one basis, and thus have been added to the aggregate shares of Common Stock outstanding for purposes of calculating Beach Point’s beneficial ownership percentage, pursuant to Rule 13d-3(d)(i) under the Act.

(c) Number of shares as to which the person has:

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

Beach Point Capital - 0

Beach Point GP - 0

(ii) Shared power to vote or to direct the vote:

Beach Point Capital -   6,949,230 **see Note 1**

Beach Point GP -   6,949,230 **see Note 1**

(iii) Sole power to dispose or to direct the disposition of:

Beach Point Capital - 0

Beach Point GP - 0

(iv) Shared power to dispose or to direct the disposition of:

Beach Point Capital -   6,949,230 **see Note 1**

Beach Point GP -   6,949,230 **see Note 1**

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 ☐.

ITEM 6.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

While Beach Point Capital and Beach Point GP may each be deemed the beneficial owner of the shares of Common Stock of the Issuer, each of the reporting persons is the beneficial owner of such stock on behalf of the Clients who have the right to receive and the power to direct the receipt of the dividends from, or the proceeds of the sale of, such Common Stock.

ITEM 7.

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

See Exhibit I

ITEM 8.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

Not applicable

ITEM 9.

NOTICE OF DISSOLUTION OF 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.

** Note 1 ** Beach Point Capital, an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, furnishes investment advice to certain clients (the Clients). In its role as investment adviser, Beach Point Capital possesses voting and investment power over the shares of Common Stock of the Issuer described in this schedule that are owned by the Clients, and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer held, or obtainable upon exercise of Warrants held, by the Clients. However, all securities reported in this schedule are owned by the Clients. Beach Point Capital disclaims beneficial ownership of such securities. Beach Point GP is the sole general partner of Beach Point Capital. As a result, Beach Point GP may be deemed to share beneficial ownership of the shares of Common Stock of the Issuer held by the Clients. Beach Point GP disclaims beneficial ownership of such securities.

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

Beach Point Capital Management LP

Signature

Name/Title

Date

Beach Point GP LLC

Signature

Name/Title

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).

EXHIBIT INDEX

 

Exhibit I - Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

 

Exhibit II - Joint Filing Agreement

EXHIBIT I

 

Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Beach Point GP LLC is the sole general partner and therefore control person of Beach Point Capital Management LP, an investment adviser registered under Section 203 of the Investment Advisers Act of 1940.

EXHIBIT II

 

Joint Filing Agreement

 

THIS JOINT FILING AGREEMENT is entered into as of February 8, 2022, by and among the parties signatories hereto. The undersigned hereby agree that the Statement on Schedule 13G with respect to the shares of Common Stock, par value $0.01 per share, of MoneyGram International, Inc.. is, and any amendment thereafter signed by each of the undersigned shall be, filed on behalf of each undersigned pursuant to and in accordance with the provisions of 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

Date

Beach Point Capital Management LP

Signature

Name/Title

Date

Beach Point GP LLC

Signature

Name/Title

 

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