Sec Form 13G Filing - B. Riley Financial Inc. (RILY) filing for GLOBAL SHIP LEASE, INC CL (GSL) - 2022-02-11

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

(Amendment No. 4)*

 

Global Ship Lease, Inc.

(Name of Issuer)

Class A Common Stock, $0.01 par value per share

(Title of Class of Securities)

Y27183600

(CUSIP Number)

December 31, 2021

(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).

 

 

 

SCHEDULE 13G

 

CUSIP No.

Y27183600

 

1	Names of Reporting Persons
	B. Riley Financial, Inc.
2	Check the appropriate box if a member of a Group (see instructions)
	(a)  ☐ (b)  ☐
3	Sec Use Only
4	Citizenship or Place of Organization
	DE

Number of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power
		0
	6	Shared Voting Power
		1,387,626
	7	Sole Dispositive Power
		0
	8	Shared Dispositive Power
		1,387,626

9	Aggregate Amount Beneficially Owned by Each Reporting Person
	1,387,626
10	Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
	☐
11	Percent of class represented by amount in row (9)
	3.8%
12	Type of Reporting Person (See Instructions)
	CO

 

 

CUSIP No.

Y27183600

 

1	Names of Reporting Persons
	B. Riley Securities, Inc.
2	Check the appropriate box if a member of a Group (see instructions)
	(a)  ☐ (b)  ☐
3	Sec Use Only
4	Citizenship or Place of Organization
	DE

Number of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power
		0
	6	Shared Voting Power
		591,128
	7	Sole Dispositive Power
		0
	8	Shared Dispositive Power
		591,128

9	Aggregate Amount Beneficially Owned by Each Reporting Person
	591,128
10	Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
	☐
11	Percent of class represented by amount in row (9)
	1.6%
12	Type of Reporting Person (See Instructions)
	BD

 

 

CUSIP No.

Y27183600

 

1	Names of Reporting Persons
	BRF Investments, LLC
2	Check the appropriate box if a member of a Group (see instructions)
	(a)  ☐ (b)  ☐
3	Sec Use Only
4	Citizenship or Place of Organization
	DE

Number of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power
		0
	6	Shared Voting Power
		796,498
	7	Sole Dispositive Power
		0
	8	Shared Dispositive Power
		796,498

9	Aggregate Amount Beneficially Owned by Each Reporting Person
	796,498
10	Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
	☐
11	Percent of class represented by amount in row (9)
	2.2%
12	Type of Reporting Person (See Instructions)
	OO

 

 

CUSIP No.

Y27183600

 

1	Names of Reporting Persons
	Bryant R. Riley
2	Check the appropriate box if a member of a Group (see instructions)
	(a)  ☐ (b)  ☐
3	Sec Use Only
4	Citizenship or Place of Organization
	United States of America

Number of Shares Beneficially Owned by Each Reporting Person With:	5	Sole Voting Power
		72,337
	6	Shared Voting Power
		1,387,626
	7	Sole Dispositive Power
		72,337
	8	Shared Dispositive Power
		1,387,626

9	Aggregate Amount Beneficially Owned by Each Reporting Person
	1,459,963
10	Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
	☐
11	Percent of class represented by amount in row (9)
	4.0%
12	Type of Reporting Person (See Instructions)
	IN

 

 

Item 1.

 

(a)

Name of Issuer: Global Ship Lease, Inc.

 

(b)

Address of Issuer’s Principal Executive Offices: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro 1T MH96960

 

Item 2(a).

 

B. Riley Financial, Inc., a Delaware corporation (“BRF”),

B. Riley Securities, Inc., a Delaware corporation (“BRS”),

BRF Investments, LLC, a Delaware limited liability company (“BRFI”), and

Bryant R. Riley, and individual.

 

Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”

 

Item 2(b). Address of Principal Business Office or, if None, Residence:

 

The principal business address of each BRF, BRS, BRFI and Bryant R. Riley is: 

11100 Santa Monica Blvd. Suite 800 

Los Angeles, CA 90025

 

Item 2(c). Citizenship:

 

BRF, BRS and BRFI are organized under the laws of the State of Delaware. 

Bryant R. Riley is a citizen of the United States of America.

 

Item 2(d). Title of Class of Securities:

 

Class A Common Stock, par value $0.01 (the “Common Stock”)

 

Item 2(e). CUSIP Number:

 

Y27183600

 

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;

 

(b)

☐

Bank as defined in Section 3(a)(6) of the Act;

 

(c)

☐

Insurance company as defined in Section 3(a)(19) of the Act;

 

(d)

☐

Investment company registered under Section 8 of the Investment Company Act of 1940;

 

(e)

☐

An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

 

(f)

☐

An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

 

(g)

☐

A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

 

(h)

☐

A savings associations 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;

 

(j)

☐

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

 

(k)

☐

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

 

 

Item 4. Ownership

 

(a) Amount Beneficially Owned:

 

As of the date hereof, BRS beneficially owned 591,128 shares of Common Stock. As of the date hereof, BRF as the parent company of BRS may be deemed to have beneficially owned the 591,128 shares of Common Stock beneficially owned by BRS.

 

As of the date hereof, BRFI beneficially owned 796,498 shares of Common Stock. As of the date hereof, BRF as the parent company of BRFI may be deemed to have beneficially owned the 796,498 shares of Common Stock beneficially owned by BRFI.

 

Bryant R. Riley may beneficially own (i) 72,337 shares of Common Stock, of which (a) 61,371 shares are held jointly by Bryant R. Riley and his spouse, (b) 1,704 shares are held as sole custodian for the benefit of Abigail Riley, (c) 1,704 shares are held as sole custodian for the benefit of Charlie Riley, (d) 1,704 shares are held as sole custodian for the benefit of Eloise Riley, (e) 322 shares are held as sole custodian for the benefit of Susan Riley, (f) 5,532 shares are held as sole trustee of the Robert Antin Children Irrevocable Trust, and (ii) 1,387,626 shares held directly by BRS and BRFI in the manner specified in the paragraph above.

 

By virtue of the removal of any trading and voting power authority in any capacity of BRF, B. Riley Capital Management, LLC, a New York limited liability company, a registered investment advisor (“BRCM”), and Bryant R. Riley over the assets of BRC Partners Opportunity Fund, LP, a Delaware limited partnership (“BRPLP”), BRF, BRCM and Bryant R. Riley no longer may be deemed to beneficially own the shares held by BRPLP.

 

The foregoing should not be construed as an admission by any Reporting Person as to beneficial ownership of any shares of Common Stock owned by another Reporting Person. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock that are not directly owned by such Reporting Person, except to the extent of their pecuniary interest therein.

 

(b) Percent of Class:

 

As of the date hereof, BRS, beneficially owned 1.6% of the outstanding shares of Common Stock. As of the date hereof, BRF as the parent company of BRS may be deemed to have beneficially owned 1.6% of the outstanding shares of Common Stock beneficially owned by BRS.

 

As of the date hereof, BRFI, beneficially owned 2.2% of the outstanding shares of Common Stock. As of the date hereof, BRF as the parent company of BRFI may be deemed to have beneficially owned 2.2% of the outstanding shares of Common Stock beneficially owned by BRFI.

 

Bryant R. Riley may beneficially own 0.2% of the outstanding shares of Common Stock and 3.8% of the outstanding shares of Common Stock held directly by BRS and BRFI in the manner specified in the paragraphs above.

 

Percent of class is calculated based on 36,283,468 shares of common stock, par value $0.01 (the “Common Stock”) of Global Ship Lease, Inc. (the “Issuer”) outstanding as of April 12, 2021, as reported by the Issuer on Form F-3 filed with the Securities & Exchange Commission (the “SEC”) on August 13, 2021.

 

The foregoing should not be construed as an admission by any Reporting Person as to beneficial ownership of any shares of Common Stock owned by another Reporting Person. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock that are not directly owned by such Reporting Person, except to the extent of their pecuniary interest therein.

 

 

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

 

(i)

Sole power to vote or to direct the vote: See cover page Items 5-9.

 

(ii)

Shared power to vote or to direct the vote: See cover page Items 5-9.

 

(iii)

Sole power to dispose or to direct the disposition of: See cover page Items 5-9.

 

(iv)

Shared power to dispose or to direct the disposition of: See cover page Items 5-9.

 

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. 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. Certifications.

 

By signing below each of the undersigned certifies that, to the best of 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.

 

 

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.

 

Dated: February 11, 2022

 

	B. RILEY FINANCIAL, INC
	By:	/s/ Bryant R. Riley
	Name:	Bryant R. Riley
	Title:	Co-Chief Executive Officer
	B. RILEY SECURITIES, INC.
	By:	/s/ Andrew Moore
	Name:	Andrew Moore
	Title:	Chief Executive Officer
	BRF INVESTMENTS, LLC
	By:	/s/ Phillip Ahn
	Name:	Phillip Ahn
	Title:	Authorized Signatory
	BRYANT R. RILEY
	By:	/s/ Bryant R. Riley

 

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

 

 

 

9