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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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 15)1
Rockwell Medical, Inc.
(Name of Issuer)
Common Stock, no par value per share
(Title of Class of Securities)
774374102
(CUSIP Number)
DAVID S. RICHMONd
richmond brothers, Inc.
3568 Wildwood Avenue
Jackson, Michigan 49202
(517) 435-4040
STEVE WOLOSKY
RYAN NEBEL
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 25, 2020
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☒.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
1 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 disclosures provided in a prior cover page.
The information required on 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. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| Richmond Brothers, Inc. | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| OO | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| MICHIGAN | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 161,278 | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 6,411,029 | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 6,411,029 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 7.0% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| IA, CO | |||||||||||||||||||
| 2 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| RBI Private Investment I, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 164,841 | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 164,841 | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 164,841 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
| 3 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| RBI Private Investment II, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 38,490 | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 38,490 | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 38,490 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
| 4 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| The RBI Opportunities Fund, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 5,850,920* | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 5,850,920* | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 5,850,920* | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 6.2%* | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
* Includes 1,965,117 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9%.
| 5 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| The RBI Opportunities Fund II, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 2,461,423* | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 2,461,423* | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 2,461,423* | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| &# xA0; | |||||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 2.7%* | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
* Includes 805,664 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9%.
| 6 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| RBI PI Manager, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| AF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 8,515,674* | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 8,515,674* | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 8,515,674* | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 9.0%* | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
* Includes 2,770,781 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9%.
| 7 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| Richmond Brothers 401(k) Profit Sharing Plan | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| MICHIGAN | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 108,628 | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | - 0 - | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 108,628 | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| - 0 - | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 108,628 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| EP | |||||||||||||||||||
| 8 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| David S. Richmond | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| OO, PF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| USA | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 8,699,581* | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 300,497 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 8,699,581* | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 6,550,248 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 15,249,829* | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 16.1%* | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| IN | |||||||||||||||||||
* Includes 2,770,781 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9%.
| 9 |
CUSIP No. 774374102
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| Matthew J. Curfman | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| OO, PF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| USA | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | 52,837 | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 308,206 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| 52,837 | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 6,557,957 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 6,610,794 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 7.2% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| IN | |||||||||||||||||||
| 10 |
CUSIP No. 774374102
The following constitutes Amendment No. 15 to the Schedule 13D filed by the undersigned (“Amendment No. 15”). This Amendment No. 15 amends the Schedule 13D as specifically set forth herein.
| Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended and restated to read as follows:
The Shares held in the Separately Managed Accounts and purchased by each of Richmond Brothers, RBI PI, RBI PII, RBI Opportunities, RBI Opportunities II and the RBI Plan were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 161,278 Shares owned directly by Richmond Brothers is approximately $475,044, excluding brokerage commissions. The aggregate purchase price of the 6,249,751 Shares held by the Separately Managed Accounts is approximately $31,503,427, excluding brokerage commissions. The aggregate purchase price of the 164,841 Shares owned directly by RBI PI is approximately $1,099,401, excluding brokerage commissions. The aggregate purchase price of the 38,490 Shares owned directly by RBI PII is approximately $214,716, excluding brokerage commissions. The aggregate purchase price of the 5,541,562 Shares (together with the warrants referenced in the first sentence of the following paragraph) owned in the aggregate by RBI Opportunities and RBI Opportunities II is $22,000,000, excluding brokerage commissions. The aggregate purchase price of the 108,628 Shares owned directly by the RBI Plan is approximately $494,270, excluding brokerage commissions.
Pursuant to the Securities Purchase Agreement (as defined and described in Amendment No. 12 to the Schedule 13D), RBI Opportunities received warrants exercisable into 2,770,781 Shares from the Issuer, of which warrants exercisable into 805,664 Shares were transferred to RBI Opportunities II in an exempt transaction. The warrants have an exercise price of $4.96 per Share and will now expire on April 30, 2025.
The Shares purchased by Mr. Richmond were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 214,498 Shares beneficially owned by Mr. Richmond, including 29,787 Shares directly owned by his spouse, 797 Shares directly owned by his daughter and 7 Shares directly owned by his son, is approximately $910,662, excluding brokerage commissions.
The Shares purchased by Mr. Curfman were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 91,137 Shares beneficially owned by Mr. Curfman, including the 38,300 Shares directly owned by his spouse, is approximately $525,761, excluding brokerage commissions.
| 11 |
CUSIP No. 774374102
| Item 5. | Interest in Securities of the Issuer. |
Items 5(a) – (c) are hereby amended and restated to read as follows:
The aggregate percentage of Shares reported owned by each person named herein is based upon 91,975,466 Shares outstanding as of September 25, 2020, which is the total number of Shares outstanding based on information contained in the Issuer’s Prospectus Supplement filed pursuant to Rule 424(b)(5) with the Securities and Exchange Commission on September 25, 2020.
| A. | Richmond Brothers |
| (a) | As of the date hereof, Richmond Brothers directly beneficially owned 161,278 Shares, and an additional 6,249,751 Shares were held in the Separately Managed Accounts. As the investment advisor to the Separately Managed Accounts, Richmond Brothers may also be deemed the beneficial owner of the 6,249,751 Shares held in the Separately Managed Accounts. |
Percentage: Approximately 7.0%
| (b) | 1. Sole power to vote or direct vote: 161,278 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 6,411,029 4. Shared power to dispose or direct the disposition: 0 |
| B. | RBI PI |
| (a) | As of the date hereof, RBI PI beneficially owned 164,841 Shares. |
Percentage: Less than 1%
| (b) | 1. Sole power to vote or direct vote: 164,841 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 164,841 4. Shared power to dispose or direct the di sposition: 0 |
| 12 |
CUSIP No. 774374102
| C. | RBI PII |
| (a) | As of the date hereof, RBI PII beneficially owned 38,490 Shares. |
Percentage: Less than 1%
| (b) | 1. Sole power to vote or direct vote: 38,490 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 38,490 4. Shared power to dispose or direct the disposition: 0 |
| D. | RBI Opportunities |
| (a) | As of the date hereof, RBI Opportunities beneficially owned 5,850,920 Shares (including 1,965,117 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9% of the outstanding Shares). |
Percentage: Approximately 6.2%
| (b) | 1. Sole power to vote or direct vote: 5,850,920 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,850,920 4. Shared power to dispose or direct the disposition: 0 |
| E. | RBI Opportunities II |
| (a) | As of the date hereof, RBI Opportunities II beneficially owned 2,461,423 Shares (including 805,664 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision, meaning that they can be exercised only to the extent that such exercise would not cause the holder’s and its affiliates’ beneficial ownership of Shares to exceed 19.9% of the outstanding Shares). |
Percentage: Approximately 2.7%
| (b) | 1. Sole power to vote or direct vote: 2,461,423 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 2,461,423 4. Shared power to dispose or direct the disposition: 0 |
| 13 |
CUSIP No. 774374102
| F. | RBI Manager |
| (a) | As the manager of RBI PI, RBI PII, RBI Opportunities and RBI Opportunities II, RBI Manager may be deemed the beneficial owner of the (i) 164,841 Shares owned by RBI PI, (ii) 38,490 Shares owned by RBI PII, (iii) 5,850,920 Shares beneficially owned by RBI Opportunities and (iv) 2,461,423 Shares beneficially owned by RBI Opportunities II. |
Percentage: Approximately 9.0%
| (b) | 1. Sole power to vote or direct vote: 8,515,674 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 8,515,674 4. Shared power to dispose or direct the disposition: 0 |
| G. | RBI Plan |
| (a) | As of the date hereof, the RBI Plan beneficially owned 108,628 Shares. |
Percentage: Less than 1%
| (b) | 1. Sole power to vote or direct vote: 108,628 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 108,628 4. Shared power to dispose or direct the disposition: 0 |
| H. | Mr. Richmond |
| (a) | As of the date hereof, Mr. Richmond beneficially owned 214,498 Shares, including 29,787 Shares directly owned by his spouse, 797 Shares directly owned by his daughter and 7 Shares directly owned by his son. As the Chairman of Richmond Brothers, manager of RBI Manager and a trustee of the RBI Plan, Mr. Richmond may also be deemed the beneficial owner of the (i) 161,278 Shares owned directly by Richmond Brothers, (ii) 6,249,751 Shares held in the Separately Managed Accounts, (iii) 164,841 Shares owned by RBI PI, (iv) 38,490 Shares owned by RBI PII, (v) 5,850,920 Shares beneficially owned by RBI Opportunities, (vi) 2,461,423 Shares beneficially owned by RBI Opportunities II and (vii) 108,628 Shares owned by the RBI Plan. |
Percentage: Approximately 16.1%
| (b) | 1. Sole power to vote or direct vote: 8,699,581 2. Shared power to vote or direct vote: 300,497 3. Sole power to dispose or direct the disposition: 8,699,581 4. Shared power to dispose or direct the disposition: 6,550,248 |
| 14 |
CUSIP No. 774374102
| I. | Mr. Curfman |
| (a) | As of the date hereof, Mr. Curfman beneficially owned 91,137 Shares, including 38,300 Shares directly owned by his spouse. As the President of Richmond Brothers and a trustee of the RBI Plan, Mr. Curfman may also be deemed the beneficial owner of the (i) 161,278 Shares owned directly by Richmond Brothers, (ii) 6,249,751 Shares held in the Separately Managed Accounts and (iii) 108,628 Shares owned by the RBI Plan. |
Percentage: Approximately 7.2%
| (b) | 1. Sole power to vote or direct vote: 52,837 2. Shared power to vote or direct vote: 308,206 3. Sole power to dispose or direct the disposition: 52,837 4. Shared power to dispose or direct the disposition: 6,557,957 |
An aggregate of 15,340,966 Shares (including 2,770,781 Shares issuable upon the exercise of warrants that are subject to a 19.9% blocking provision), constituting beneficial ownership of approximately 16.2% of the outstanding Shares, are reported in this Amendment No. 15 to the Schedule 13D.
The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any Shares he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or it does not directly own.
| (c) | The transactions in the securities of the Issuer by the Reporting Persons during the past sixty days are set forth in Schedule A and are incorporated herein by reference. Such transactions were effected in the open market. |
| 15 |
CUSIP No. 774374102
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: September 29, 2020
| Richmond Brothers, Inc. | |||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Chairman | ||
| RBI Private Investment I, LLC | |||
| By: | RBI PI Manager, LLC | ||
| Manager | |||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Manager | ||
| RBI Private Investment II, LLC | |||
| By: | RBI PI Manager, LLC | ||
| Manager | |||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Manager | ||
| The RBI Opportunities Fund, LLC | |||
| By: | RBI PI Manager, LLC | ||
| Manager | |||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Manager | ||
| 16 |
CUSIP No. 774374102
| The RBI Opportunities Fund II, LLC | |||
| By: | RBI PI Manager, LLC | ||
| Manager | |||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Manager | ||
| By: | RBI PI Manager, LLC | ||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Manager | ||
| By: | Richmond Brothers 401(k) Profit Sharing Plan | ||
| By: |
/s/ David S. Richmond | ||
| Name: | David S. Richmond | ||
| Title: | Trustee | ||
|
/s/ David S. Richmond | |
| David S. Richmond |
|
/s/ Matthew J. Curfman | |
| Matthew J. Curfman |
| 17 |
CUSIP No. 774374102
SCHEDULE A
Transactions in the Securities of the Issuer During the past sixty days
| Nature of Transaction |
Securities Purchased/(Sold) |
Price per Security ($) |
Date of Purchase / Sale |
Richmond
Brothers, Inc.
(Through the Separately Managed Accounts)
| Purchase of Common Stock | 2,740 | 1.7208 | 07/31/2020 |
| Sale of Common Stock | (792) | 1.7749 | 08/03/2020 |
| Purchase of Common Stock | 1,143 | 1.7589 | 08/03/2020 |
| Sale of Common Stock | (563) | 1.7800 | 08/03/2020 |
| Purchase of Common Stock | 2,900 | 1.7700 | 08/04/2020 |
| Purchase of Common Stock | 2,400 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 104 | 1.7950 | 08/04/2020 |
| Purchase of Common Stock | 600 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 7,100 | 1.8000 | 08/04/2020 |
| Purchase of Common Stock | 700 | 1.7800 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7950 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7950 | 08/04/2020 |
| Purchase of Common Stock | 700 | 1.7750 | 08/04/2020 |
| Purchase of Common Stock | 4,100 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 296 | 1.7993 | 08/04/2020 |
| Purchase of Common Stock | 200 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7775 | 08/04/2020 |
| Purchase of Common Stock | 5,231 | 1.7800 | 08/04/2020 |
| Purchase of Common Stock | 2,392 | 1.8000 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7950 | 08/04/2020 |
| Purchase of Common Stock | 400 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 200 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 200 | 1.7750 | 08/04/2020 |
| Purchase of Common Stock | 200 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 900 | 1.8000 | 08/04/2020 |
| Purchase of Common Stock | 100 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 300 | 1.7850 | 08/04/2020 |
| Purchase of Common Stock | 600 | 1.7700 | 08/04/2020 |
| Purchase of Common Stock | 4,200 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 1,600 | 1.7800 | 08/04/2020 |
| Purchase of Common Stock | 200 | 1.7900 | 08/04/2020 |
| Purchase of Common Stock | 600 | 1.7893 | 08/04/2020 |
| Purchase of Common Stock | 11,100 | 1.7961 | 08/05/2020 |
| Sale of Common Stock | (842) | 1.7250 | 08/10/2020 |
| Sale of Common Stock | (520) | 1.7450 | 08/10/2020 |
| Purchase of Common Stock | 1,734 | 1.7400 | 08/12/2020 |
| Sale of Common Stock | (4,000) | 1.6203 | 08/13/2020 |
| Sale of Common Stock | (1,134) | 1.6501 | 08/14/2020 |
| Sale of Common Stock | (7,000) | 1.6500 | 08/14/2020 |
| Sale of Common Stock | (1,496) | 1.5500 | 08/19/2020 |
| Sale of Common Stock | (2,290) | 1.5500 | 08/19/2020 |
| Sale of Common Stock | (6,200) | 1.5500 | 08/19/2020 |
| Purchase of Common Stock | 1,741 | 1.5544 | 08/21/2020 |
| Sale of Common Stock | (140) | 1.5500 | 08/25/2020 |
| Sale of Common Stock | (2,891) | 1.3654 | 08/27/2020 |
| Sale of Common Stock | (37) | 1.3691 | 08/27/2020 |
| Sale of Common Stock | (9,981) | 1.3750 | 08/27/2020 |
| Purchase of Common Stock | 15,000 | 1.3669 | 08/27/2020 |
| Purchase of Common Stock | 20,000 | 1.3597 | 08/27/2020 |
| Purchase of Common Stock | 20,000 | 1.3656 | 08/27/2020 |
| Purchase of Common Stock | 18,000 | 1.3499 | 08/27/2020 |
| Sale of Common Stock | (1,973) | 1.3656 | 08/28/2020 |
| Purchase of Common Stock | 18,000 | 1.3849 | 08/28/2020 |
| Purchase of Common Stock | 18,000 | 1.3824 | 08/28/2020 |
| Purchase of Common Stock | 312 | 1.2767 | 09/01/2020 |
| Purchase of Common Stock | 783 | 1.2767 | 09/02/2020 |
| Purchase of Common Stock | 2,329 | 1.2891 | 09/02/2020 |
| Purchase of Common Stock | 19,000 | 1.2957 | 09/02/2020 |
| Purchase of Common Stock | 20,000 | 1.2296 | 09/02/2020 |
| Purchase of Common Stock | 2,326 | 1.2897 | 09/02/2020 |
| Purchase of Common Stock | 4,000 | 1.2199 | 09/03/2020 |
| Purchase of Common Stock | 820 | 1.2137 | 09/03/2020 |
| Sale of Common Stock | (4,248) | 1.2204 | 09/03/2020 |
| Purchase of Common Stock | 1,772 | 1.2189 | 09/03/2020 |
| Purchase of Common Stock | 15,832 | 1.2268 | 09/03/2020 |
| Purchase of Common Stock | 4,491 | 1.1191 | 09/04/2020 |
| Purchase of Common Stock | 13,514 | 1.1400 | 09/04/2020 |
| Sale of Common Stock | (1,098) | 1.1200 | 09/04/2020 |
| Sale of Common Stock | (11,603) | 1.2200 | 09/08/2020 |
| Sale of Common Stock | (9,251) | 1.2252 | 09/08/2020 |
| Purchase of Common Stock | 840 | 1.1999 | 09/08/2020 |
| Purchase of Common Stock | 4,000 | 1.1947 | 09/08/2020 |
| Purchase of Common Stock | 18,075 | 1.3499 | 09/10/2020 |
| Purchase of Common Stock | 4,155 | 1.3500 | 09/10/2020 |
| Purchase of Common Stock | 5,475 | 1.3500 | 09/10/2020 |
| Purchase of Common Stock | 19,531 | 1.2894 | 09/11/2020 |
| Purchase of Common Stock | 3,790 | 1.2747 | 09/17/2020 |
| Sale of Common Stock | (1,865) | 1.7400 | 09/22/2020 |
| Purchase of Common Stock | 41,000 | 1.1800 | 09/23/2020 |
| Purchase of Common Stock | 1,538 | 1.2850 | 09/23/2020 |
| Purchase of Common Stock | 900 | 1.1038 | 09/24/2020 |
| Purchase of Common Stock | 45,000 | 1.0859 | 09/24/2020 |
| Purchase of Common Stock | 18,000 | 1.1100 | 09/24/2020 |
| Purchase of Common Stock | 4,500 | 1.1092 | 09/24/2020 |
Richmond Brothers 401(k) Profit Sharing Plan
| Purchase of Common Stock | 1,666 | 1.1967 | 09/08/2020 |
| Purchase of Common Stock | 3,181 | 1.1057 | 09/24/2020 |