Sec Form 13G Filing - Richmond Brothers Inc. filing for ROCKWELL MEDICAL INC. (RMTI) - 2023-02-23

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 13G

 

Under the Securities Exchange Act of 1934
(Amendment No. )*

 

Rockwell Medical, Inc.

 

(Name of Issuer)

 

Common Stock, par value $0.0001 per share

 

(Title of Class of Securities)

 

774374300

 

(CUSIP Number)

 

DAVID S. RICHMOND

RICHMOND BROTHERS, INC.

3568 Wildwood Avenue

Jackson, Michigan 49202

(517) 435-4040

 

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

August 15, 2022

 

(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 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. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Richmond Brothers, 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
 
MICHIGAN

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
5,570
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
5,570
  8. SHARED DISPOSITIVE POWER
 
514,410

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

519,980
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

4.47%1
12. TYPE OF REPORTING PERSON (see instructions)

IA, CO

 

2

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

RBI Private Investment I, 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
 
DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH

REPORTING
PERSON WITH

  5. SOLE VOTING POWER
 
5,894
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
5,894
  8. SHARED DISPOSITIVE POWER
 
0

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,894
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

Less than 1%1
12. TYPE OF REPORTING PERSON (see instructions)

OO

 

3

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

RBI Private Investment II, 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
 
DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
3,498
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
3,498
  8. SHARED DISPOSITIVE POWER
 
0

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,498
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

Less than 1%1
12. TYPE OF REPORTING PERSON (see instructions)

OO

 

4

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

The RBI Opportunities Fund I, 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
 
DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
315,073
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
315,073
  8. SHARED DISPOSITIVE POWER
 
0

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

315,073
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

2.7%1
12. TYPE OF REPORTING PERSON (see instructions)

OO

 

5

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

The RBI Opportunities Fund II, 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
 
DELAWARE

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
130,300
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
130,300
  8. SHARED DISPOSITIVE POWER
 
0

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

130,300
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

1.1%1
12. TYPE OF REPORTING PERSON (see instructions)

OO

 

6

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Richmond Brothers 401(k) Profit Sharing Plan
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
 
MICHIGAN

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
11,371
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
11,371
  8. SHARED DISPOSITIVE POWER
 
0

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

11,371
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

Less than 1%1
12. TYPE OF REPORTING PERSON (see instructions)

EP

 

7

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

David S. Richmond
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
 
USA

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5.

SOLE VOTING POWER

 
476,634

  6. SHARED VOTING POWER

0
  7. SOLE DISPOSITIVE POWER
 
476,634
  8. SHARED DISPOSITIVE POWER
 
514,410

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

991,044
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.52% 1
12. TYPE OF REPORTING PERSON (see instructions)

IN

 

8

 

 

CUSIP No. 774374300   13G    

 

1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Matthew J. Curfman
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
 
USA

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
  5. SOLE VOTING POWER
 
479,989
  6. SHARED VOTING POWER
 
0
  7. SOLE DISPOSITIVE POWER
 
479,989
  8. SHARED DISPOSITIVE POWER
 
514,410

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

994,399
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions)    ☐
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.55% 1
12. TYPE OF REPORTING PERSON (see instructions)

IN

 

9

 

 

CUSIP No. 774374300   13G    

 

Preliminary Statement:

 

This Schedule 13G is filed by Richmond Brothers, Inc. (“Richmond Brothers”) and amends, supplements and replaces in its entirety the Schedule 13D filed on February 21, 2017, as amended on March 28, 2019 (the “Schedule 13D”), by the Filers, RBI Private Investment I, LLC (“RBI PI”), RBI Private Investment II, LLC (“RBI PII”), The RBI Opportunities Fund, LLC (“RBI Opportunities”), The RBI Opportunities Fund II, LLC (“RBI Opportunities II”), Richmond Brothers 401(k) Profit Sharing Plan (“RBI Plan”), David S. Richmond, and Matthew J. Curfman (collectively, the “ Reporting Persons”), relating to shares of Common Stock of Rockwell Medical, Inc. (the “Issuer”). The Schedule 13D had superseded a Schedule 13G previously filed by Richmond Brothers on February 9, 2012 relating to the Common Stock of the Issuer. As part of the dilution of the Common Stock of the Issuer (which commenced on August 15, 2022), the Reporting Persons determined that they no longer hold any shares of Common Stock of the Issuer with any purpose, or with the effect of, changing or influencing control of the Issuer or in connection with or as a participant in any transaction having that purpose or effect. In accordance with Rule 13d-1(h), the Filers accordingly determined to again report their beneficial ownership of shares of Common Stock of the Issuer on Schedule 13G.

 

Item 1.

 

(a)Name of Issuer
Rockwell Medical, Inc

 

(b)Address of Issuer’s Principal Executive Offices
30142 S. Wixom Road, Wixon, Michigan 48393

 

Item 2.

 

  (a)

Name of Person Filing

 

Richmond Brothers, Inc., a Michigan corporation (“Richmond Brothers”), which serves as the investment advisor to certain managed accounts (the “Separately Managed Accounts”);

 

RBI Private Investment I, LLC, a Delaware limited liability company (“RBI PI”);

 

RBI Private Investment II, LLC, a Delaware limited liability company (“RBI PII”);

 

The RBI Opportunities Fund, LLC, a Delaware limited liability company (“RBI Opportunities”);

 

The RBI Opportunities Fund II, LLC, a Delaware limited liability company (“RBI Opportunities II”);

 

Richmond Brothers 401(k) Profit Sharing Plan, an employee benefit plan organized under the laws of

Michigan (the “RBI Plan”);

 

David S. Richmond, who serves as Chairman of Richmond Brothers, manager of RBI Manager and a trustee of the RBI Plan; and

 

Matthew J. Curfman, who serves as President of Richmond Brothers and a trustee of the RBI Plan

 

10

 

 

CUSIP No. 774374300   13G    

 

  (b) Address of the Principal Office or, if none, residence
3568 Wildwood Avenue, Jackson, Michigan 49202
     
  (c) Citizenship
United States of America
     
  (d) Title of Class of Securities
Common Stock, par value $0.0001 (“Shares”)
     
  (e) CUSIP Number
774374300

 

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 (15 U.S.C. 78o).
       
  (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
       
  (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
       
  (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
       
  (e) An investment adviser 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 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 (15 U.S.C. 80a-3);
       
  (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

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: 999, 327

 

  (b) Percent of class:

The Common Shares beneficially owned by the Filers constitute approximately 8.59% of the 11,632,673 issued and outstanding Common Shares s reported in the Form 10-Q filed by the Issuer with the Securities and Exchange Commission for the quarter ending November 14, 2022.

 

11

 

 

CUSIP No. 774374300   13G    

 

  (c) Number of shares as to which the person has:
         
  (i) Sole power to vote or to direct the vote of 0

 

    (ii) Shared power to vote or to direct the vote of 999,327

 

    (iii) Sole power to dispose or to direct the disposition of 0  

  

    (iv) Shared power to dispose or to direct the disposition of 999,327

 

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 ☐.

 

Instruction. Dissolution of a group requires a response to this item.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

 

Item 8. Identification and Classification of Members of the Group.

 

Item 9. Notice of Dissolution of Group.

 

Item 10. Certification.

 

  (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b):
     
    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.
     
  (b) The following certification shall be included if the statement is filed pursuant to §240.13d-1(c):
     
    By signing below I certify that, to the best of my 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.

 

12

 

 

CUSIP No. 774374300   13G    

 

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: February 23, 2023

  

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. Rich mond  
  Title: Manager  

 

13

 

 

CUSIP No. 774374300   13G    

 

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  

 

 

14