Sec Form 13G Filing - NEXPOINT ASSET MANAGEMENT L.P. @ LORAL SPACE & COMMUNICATIONS INC.

Sec Form 13G Filing - NEXPOINT ASSET MANAGEMENT L.P. filing for LORAL SPACE & COMMUNICATIONS INC. (LORL) - 2020-02-14

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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SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 13G/A

(Rule 13d-102)

(Amendment No. 8)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO

RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Loral Space & Communications Inc.

(Name of Issuer)

Voting common stock, par value $0.01 per share

(Title of Class of Securities)

543881106

(CUSIP Number)

December 31, 2019

(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)


CUSIP No. 543881106		13G/A		Page 2 of 17

*	SEE INSTRUCTIONS BEFORE FILLING OUT

**	SEE ITEM 4.


CUSIP No. 543881106		13G/A		Page 3 of 17

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CUSIP No. 543881106		13G/A		Page 4 of 17

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CUSIP No. 543881106		13G/A		Page 5 of 17

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CUSIP No. 543881106		13G/A		Page 6 of 17

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CUSIP No. 543881106		13G/A		Page 7 of 17

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CUSIP No. 543881106		13G/A		Page 8 of 17

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CUSIP No. 543881106		13G/A		Page 9 of 17

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CUSIP No. 543881106		13G/A		Page 11 of 17

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**	SEE ITEM 4.

SCHEDULE 13G/A

This Amendment No. 8 to the Schedule 13G (this “Amendment”) is being filed on behalf of Highland Global Allocation Fund, a Massachusetts business trust (the “Global Fund”), Highland Income Fund, a Massachusetts business trust (the “Income Fund”), Highland Capital Management Fund Advisors, L.P., a Delaware limited partnership (“Highland Fund Advisors”), Strand Advisors XVI, Inc., a Delaware corporation (“Strand XVI”), NexPoint Strategic Opportunities Fund (formerly, NexPoint Credit Strategies Fund), a Delaware statutory trust (the “NexPoint Fund”), NexPoint Advisors, L.P., a Delaware limited partnership (“NexPoint”), NexPoint Advisors GP, LLC, a Delaware limited liability company (“NexPoint GP”), Highland Capital Management, L.P., a Delaware limited partnership (“Highland Capital”), Strand Advisors, Inc., a Delaware corporation (“Strand”), and James D. Dondero (collectively, the “Reporting Persons”). This Amendment modifies the original Schedule 13G filed with the Securities and Exchange Commission on October 2, 2012, as subsequently amended on February 14, 2013, as subsequently amended on February 14, 2014, as subsequently amended on February 17, 2015, as subsequently amended on February 11, 2016, as subsequently amended on February 10, 2017, as subsequently amended on February 14, 2018, as subsequently amended on February 14, 2019 (collectively, the “Original 13G”) by the Reporting Persons.

Lauren Thedford is the Secretary of Strand XVI, James D. Dondero is the President of NexPoint GP. Effective January 2020, Mr. Dondero is no longer a member of the board of Strand as a result of a change of control of Highland Capital. Nevertheless, given Mr. Dondero’s historic role with Highland Capital and his continued ownership interest and role as portfolio manager to the Funds (defined below) and Highland Capital Management Services Inc., a Delaware corporation (“Highland Services”), we have included Mr. Dondero and certain entities controlled by Mr. Dondero in this filing. Strand XVI is the general partner of Highland Fund Advisors. Highland Fund Advisors is the investment advisor to the Global Fund and the Income Fund. NexPoint GP is the general partner of NexPoint. NexPoint is the investment advisor to the NexPoint Fund. Strand is the general partner of Highland Capital. Highland Capital serves as the investment advisor to a private fund (the “HCM Fund” and collectively with the Global Fund, the Income Fund and the NexPoint Fund, the “Funds”) and the investment advisor to Highland Services. This Amendment relates to the voting common stock, par value $0.01 per share (the “Common Stock”), of Loral Space & Communications Inc., a Delaware corporation (the “Issuer”), held by (i) the Funds (ii) Highland Capital and (iii) Highland Services.

Item 3

Reporting Person.

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a:



(d)	☐	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e)	☒	An investment advisor 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)	☐	Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4

Ownership.

Item 4 of the Original 13G is hereby amended and restated to read as follows:

(a)

The Global Fund may be deemed the beneficial owner of 129,945 shares of Common Stock that it holds directly. The Income Fund may be deemed the beneficial owner of 49,600 shares of Common Stock that it holds directly. Highland Fund Advisors, as the investment advisor to the Global Fund and the Income Fund, and Strand XVI, as the general partner of Highland Fund Advisors, may be deemed the beneficial owners of the 179,545 shares of Common Stock held by the Global Fund and the Income Fund.

The NexPoint Fund may be deemed the beneficial owner of 13,722 shares of Common Stock that it holds directly. NexPoint, as the investment advisor to the NexPoint Fund, and NexPoint GP, as the general partner of NexPoint, may be deemed the beneficial owners of the 13,722 shares of Common Stock held by the NexPoint Fund.

Highland Capital may be deemed the beneficial owner of the 686,400 shares of Common Stock it holds directly. As the investment advisor to the HCM Fund and Highland Services, Highland Capital and Strand, as the general partner of Highland Capital, may be deemed the beneficial owners of the 1,199,844 shares of Common Stock held by the HCM Fund and Highland Services.

Mr. Dondero may be deemed the beneficial owner of the 2,079,511 shares of Common Stock held by (i) the Funds (ii) Highland Capital and (iii) Highland Services.

(b)

The Global Fund, the Income Fund, Highland Fund Advisors and Strand XVI may be deemed the beneficial owners of 0.8% of the outstanding shares of Common Stock held by the Global Fund. This percentage was determined by dividing 179,545, the number of shares of Common Stock held directly by the Global Fund and the Income Fund, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

The NexPoint Fund, NexPoint and NexPoint GP may be deemed the beneficial owners of less than 0.1% of the outstanding shares of Common Stock held by the NexPoint Fund. This percentage was determined by dividing 13,722, the number of shares of Common Stock held directly by the NexPoint Fund, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

Highland Capital and Strand may be deemed the beneficial owner of 8.8% of the outstanding Common Stock. This percentage was determined by dividing 1,866,244, the number of shares of Common Stock held directly by (i) the HCM Fund, (ii) Highland Services and (ii) Highland Capital, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

Mr. Dondero may be deemed the beneficial owner of 9.7% of the outstanding Common Stock. This percentage was determined by dividing 2,079,511, the number of shares of Common Stock held directly by (i) the Funds, (ii) Highland Capital and (iii) Highland Services, by 21,427,078, which is the number of shares of Common Stock outstanding as of November 4, 2019 according to the Issuer’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 12, 2019.

(c)

The Global Fund has the sole power to vote and dispose of the 129,945 shares of Common Stock that it holds directly. The Income Fund has the sole power to vote and dispose of the 49,600 shares of Common Stock that it holds directly. Highland Fund Advisors and Strand XVI have the shared power to vote and dispose of the 179,545 shares of Common Stock held by the Global Fund and the Income Fund.

The NexPoint Fund has the sole power to vote and dispose of the 13,722 shares of Common Stock that it holds directly. NexPoint and NexPoint GP have the shared power to vote and dispose of the 13,722 shares of Common Stock held by the NexPoint Fund.

Highland Capital has the sole power to vote and dispose of the 686,400 shares of Common Stock it holds directly. Highland Capital and Strand have the shared power to vote and dispose of the 1,199,844 shares of Common Stock held by the HCM Fund and Highland Services.

Mr. Dondero has the shared power to vote and dispose of the 2,079,511 shares of Common Stock held by (i) the Funds, (ii) Highland Capital and (iii) Highland Services.

Item 10

Certification.

By signing below each of the Reporting Persons certifies that, to the best of such person’s 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.

Exhibits

Exhibit 99-1

Joint Filing Agreement, dated February 14, 2020, by and among the Global Fund, the Income Fund, Highland Fund Advisors, Strand XVI, NexPoint Fund, NexPoint, NexPoint GP, Highland Capital, Strand, and Mr. Dondero.

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: February 14, 2020


HIGHLAND GLOBAL ALLOCATION FUND

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

HIGHLAND INCOME FUND

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.

By: Strand Advisors XVI, Inc., its general partner

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

STRAND ADVISORS XVI, INC.

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

NEXPOINT STRATEGIC OPPORTUNITIES FUND

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary


NEXPOINT ADVISORS, L.P.

By: NexPoint Advisors GP, LLC, its general partner

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

NEXPOINT ADVISORS GP, LLC

	By:	/s/ Lauren Thedford
		Name: Lauren Thedford
		Title: Secretary

HIGHLAND CAPITAL MANAGEMENT, L.P.

By: Strand Advisors, Inc., its general partner

	By:	/s/ Scott Ellington
		Name: Scott Ellington
		Title: Secretary



STRAND ADVISORS, INC.

By:		/s/ Scott Ellington
Name:		Scott Ellington
Title:		Secretary

/s/ James D. Dondero
James D. Dondero

NAME OF REPORTING PERSONS

Highland Global Allocation Fund

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) ☐ (b) ☐

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Massachusetts