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, D.C. 20549
SCHEDULE 13D
(Amendment No. 5)
(Rule 13d-101)
Under the Securities Exchange Act of 1934
IMAGEWARE SYSTEMS, INC.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
45245S108
(CUSIP NUMBER)
Paul E. Rehm
130 Main St. 2nd Floor
New Canaan, CT 06840
(203) 404-1172
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 2021
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box ¨.
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, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
CUSIP No. 45245S108 |
13D |
| 1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nantahala Capital Management, LLC | |||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) ¨
| |||
| 3 |
SEC USE ONLY
| |||
| 4 |
SOURCE OF FUNDS*
N/A | |||
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts | |||
|
NUMBER OF SHARES BENEFICIALLY |
7 |
SOLE VOTING POWER
0 | ||
|
OWNED BY EACH REPORTING |
8 |
SHARED VOTING POWER
267,557,849 | ||
| PERSON WITH | 9 |
SOLE DISPOSITIVE POWER
0 | ||
| 10 |
SHARED DISPOSITIVE POWER
267,557,849 | |||
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,557,849 | |||
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
| |||
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.2% | |||
| 14 |
TYPE OF REPORTING PERSON*
IA, OO | |||
CUSIP No. 45245S108 |
13D |
| 1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wilmot B. Harkey | |||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) ¨
| |||
| 3 |
SEC USE ONLY
| |||
| 4 |
SOURCE OF FUNDS*
N/A | |||
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |||
|
NUMBER OF SHARES BENEFICIALLY |
7 |
SOLE VOTING POWER
0 | ||
|
OWNED BY EACH REPORTING |
8 |
SHARED VOTING POWER
267,557,849 | ||
| PERSON WITH | 9 |
SOLE DISPOSITIVE POWER
0 | ||
| 10 |
SHARED DISPOSITIVE POWER
267,557,849 | |||
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,557,849 | |||
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
| |||
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.2% | |||
| 14 |
TYPE OF REPORTING PERSON*
HC, IN | |||
CUSIP No. 45245S108 |
13D |
| 1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Daniel Mack | |||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) ¨
| |||
| 3 |
SEC USE ONLY
| |||
| 4 |
SOURCE OF FUNDS*
N/A | |||
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |||
|
NUMBER OF SHARES BENEFICIALLY |
7 |
SOLE VOTING POWER
0 | ||
|
OWNED BY EACH REPORTING |
8 |
SHARED VOTING POWER
267,557,849 | ||
| PERSON WITH | 9 |
SOLE DISPOSITIVE POWER
0 | ||
| 10 |
SHARED DISPOSITIVE POWER
267,557,849 | |||
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,557,849 | |||
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
| |||
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.2% | |||
| 14 |
TYPE OF REPORTING PERSON*
HC, IN | |||
CUSIP No. 45245S108 |
13D |
| 1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nantahala Capital Partners II Limited Partnership | |||
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) ¨ (b) ¨
| |||
| 3 |
SEC USE ONLY
| |||
| 4 |
SOURCE OF FUNDS*
N/A | |||
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
United States | |||
|
NUMBER OF SHARES BENEFICIALLY |
7 |
SOLE VOTING POWER
0 | ||
|
OWNED BY EACH REPORTING |
8 |
SHARED VOTING POWER
48,552,143 | ||
| PERSON WITH | 9 |
SOLE DISPOSITIVE POWER
0 | ||
| 10 |
SHARED DISPOSITIVE POWER
48,552,143 | |||
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,552,143 | |||
| 12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ¨
| |||
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4% | |||
| 14 |
TYPE OF REPORTING PERSON*
PN | |||
SCHEDULE 13D
This filing constitutes (i) Amendment No. 5 (“Amendment No. 5”) to the statement of beneficial ownership relating to Common Stock, $0.01 par value (the “Common Stock”), of ImageWare Systems, Inc, a Delaware corporation (the “Issuer”) on Schedule 13D filed by Nantahala Capital Management, LLC, a Massachusetts limited liability company (“Nantahala”), and Mr. Wilmot B. Harkey and Mr. Daniel Mack, the principals of Nantahala (the “Principals”) on July 15, 2020 (the “Initial Schedule 13D”), as previously amended by Nantahala and the Principals through the filing of Amendment No. 1 (“Amendment No. 1”) on August 28, 2020, Amendment No. 2 (“Amendment No. 2”) on October 1, 2020, Amendment No. 3 (“Amendment No. 3”) on October 15, 2020, and Amendment No. 4 (“Amendment No. 4”) on November 19, 2020 (the Initial Schedule 13D, as amended previously and by this Amendment No. 5, this “Schedule 13D/A”), and (ii) Amendment No. 1 (“NCP II Amendment No. 1”) to the initial Schedule 13D filing by Nantahala Capital Partners II Limited Partnership (“NCP II”) filed as part of Amendme nt No. 4 on November 19, 2020. Nantahala, the Principals, and NCP II are referred to herein as the “Reporting Persons”. Except as specifically amended by this Amendment No. 5, the Initial Schedule 13D, as previously amended, remains unchanged. Capitalized terms used but not defined herein shall have the respective meanings defined in the Initial Schedule 13D.
The Reporting Persons are filing this amendment to disclose changes in their percentage beneficial ownership of the outstanding Common Stock identified in the course of their regular review of holdings and arising from a change to the number of shares of Common Stock outstanding, which was reported by the Issuer to be 208,749,834 shares of Common Stock outstanding as of January 22, 2021 in a prospectus filed by the company on February 18, 2021.
| Item 5. | Interest in Securities of the Issuer |
Items 5(a) and 5(c) are hereby amended and restated as follows:
(a) The aggregate percentages of Common Stock beneficially owned by the Reporting Persons are based upon 208,749,834 shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as of January 22, 2021 as reported by the Issuer on Form 424B3 filed February 18, 2021, plus 258,782,159 shares of Common Stock that would be issued upon the conversion of Series D Preferred Stock held by the Nantahala Investors, which additional shares of Common Stock are deemed outstanding for the purposes hereof by Rule 13d-3(d)(1).
Nantahala, as the investment adviser of the Nantahala Investors, may be deemed to have shared voting and investment power over and to beneficially own the 8,775,690 shares of Common Stock held by the Nantahala Investors and the 258,782,159 shares of Common Stock issuable upon the conversion of the Series D Preferred Stock, representing approximately 57.2% of the issued and outstanding shares of Common Stock of the Issuer.
In addition, Mr. Harkey and Mr. Mack, as principals of Nantahala, the investment adviser of the Nantahala Investors, may also be deemed to have shared voting and investment power over and to beneficially own the 267,557,849 shares of Common Stock beneficially owned by Nantahala, representing approximately 57.2% of the issued and outstanding shares of Common Stock of the Issuer.
NCP II may be deemed to beneficially own 1,281,131 of these shares of Common Stock held by it and 47,271,012 of the shares of Common Stock issuable upon the conversion of the Series D Preferred Stock held by it. Nantahala exercises investment and voting power over these shares, and NCP II disclaims beneficial ownership of these shares.
Signatures
After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: March 8, 2021
| NANTAHALA CAPITAL MANAGEMENT, LLC | |||
| By: | /s/ Paul E. Rehm | ||
| Paul E. Rehm | |||
| Chief Compliance Officer | |||
| NANTAHALA PARTNERS II LIMITED PARTNERSHIP | |||
| By: Nantahala Capital Management, LLC | |||
| Its General Partner | |||
| By: | /s/ Paul E. Rehm | ||
| Paul E. Rehm | |||
| Chief Compliance Officer | |||
| /s/ Wilmot B. Harkey | |||
| Wilmot B. Harkey | |||
| /s/ Daniel Mack | |||
| Daniel Mack | |||