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.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
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Inseego Corp.
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(Name of Issuer)
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Common Stock, $0.001 Par Value
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(Title of Class of Securities)
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45782B104
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(CUSIP Number)
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Edward E. Murphy
c/o North Sound Management, Inc.
115 East Putnam Avenue
Greenwich, CT 06830
(203) 340-8306
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications) |
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December 16, 2020
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(Date of Event which Requires Filing of this Statement)
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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-l(f) or 240.13d-l(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 Rule 13d-7 for other parties to whom copies are to be sent.
*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 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).
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CUSIP No. 45782B104
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SCHEDULE 13D |
Page 2 of 6
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1
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NAME OF REPORTING PERSON
North Sound Management, Inc.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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☐ |
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
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7
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SOLE VOTING POWER
9,029,758
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8
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SHARED VOTING POWER
0
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9
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SOLE DISPOSITIVE POWER
9,029,758
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10
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SHARED DISPOSITIVE POWER
0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,029,758
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐ |
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.7%
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14
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TYPE OF REPORTING PERSON
CO
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CUSIP No. 45782B104
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SCHEDULE 13D |
Page 3 of 6
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1
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NAME OF REPORTING PERSON
North Sound Trading, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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☐ |
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
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7
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SOLE VOTING POWER
9,029,758
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8
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SHARED VOTING POWER
0
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9
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SOLE DISPOSITIVE POWER
9,029,758
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10
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SHARED DISPOSITIVE POWER
0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,029,758
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐ |
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.7%
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14
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TYPE OF REPORTING PERSON
PN
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CUSIP No. 45782B104
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SCHEDULE 13D |
Page 4 of 6
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1
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NAME OF REPORTING PERSON
Brian Miller
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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☐ |
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
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7
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SOLE VOTING POWER
9,086,678
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8
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SHARED VOTING POWER
0
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9
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SOLE DISPOSITIVE POWER
9,086,678
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10
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SHARED DISPOSITIVE POWER
0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,086,678
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐ |
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.7%
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14
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TYPE OF REPORTING PERSON
IN
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CUSIP No. 45782B104
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SCHEDULE 13D |
Page 5 of 6
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This Amendment No. 8 (“Amendment No. 8”) amends and supplements the statement on Schedule 13D (as amended, the “Schedule 13D”) filed with
the Securities and Exchange Commission (the “SEC”) by North Sound Management, Inc. (“NS Manager”), Brian Miller and North Sound Trading, LP (“NS Trading” and, together with NS Manager and Mr. Miller, the “Reporting Persons”) relating to the shares of
common stock, par value $0.001 per share (“Common Stock”) of Inseego Corp., a Delaware corporation (the “Issuer”).
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated in its entirety as follows:
(a) The aggregate percentage of shares of Common Stock reported as owned by
each Reporting Person is based on a total of (i) 98,880,267 shares of Common Stock outstanding as of November 3, 2020, as reported in
the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on November 6, 2020.
Based on calculations made in accordance with Rule 13d-3(d), NS Trading and NS Manager may be deemed to beneficially own 9,029,758 shares of Common Stock, constituting approximately 8.7% of the outstanding shares of
Common Stock. The number of shares includes 625,000 shares issuable upon conversion of the New Warrants and also includes 4,404,758 shares issuable upon conversion of the 2025 Notes. The indenture governing the 2025 Notes includes an ownership
limitation that may limit the Reporting Persons’ ability to convert 2025 Notes into Common Stock. Mr. Miller, in addition to the shares indirectly beneficially owned through NS Trading and NS Manager, directly owns restricted stock awards in
respect of 71,122 shares of Common Stock, less than 1.0% of the total number of shares of Common Stock outstanding, which includes 56,920 restricted stock awards that have vested or will vest within 60 days from the date hereof.
The Reporting Persons may be deemed to constitute a “person” or “group” within the meaning of Section 13(d)(3) of the Exchange Act. The filing of this
Schedule 13D shall not be construed as an admission of such beneficial ownership or that the Reporting Persons constitute a person or group.
(b) By virtue of the relationships between and among the Reporting Persons described in Item 2 of this Schedule 13D, each of the Reporting Persons
may be deemed to have the sole power to direct the voting and disposition of the shares of Common Stock beneficially owned by the Reporting Persons.
(c) North Sound Trading sold 1,260,820 shares on December 14, 2020 at $15.59 per share, 647,629 shares on December 15, 2020 at $14.789 per share
and 493,546 shares on December 16, 2020 at $14.329 per share. All such sales were made in open market transactions.
(d) No person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any securities owned by the Reporting Persons.
(e) Not applicable.
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CUSIP No. 45782B104
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SCHEDULE 13D< /td> |
Page 6 of 6
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 18, 2020
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NORTH SOUND MANAGEMENT, INC.
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By:
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/s/ Brian Miller | ||
| Name: | Brian Miller | |||
| Title: | President | |||
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NORTH SOUND TRADING, LP
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By:
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North Sound Management, Inc., its
general partner
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| By: | /s/ Brian Miller | |||
| Name: | Brian Miller | |||
| Title: | President | |||
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/s/ Brian Miller
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| Brian Miller | ||||