Sec Form 13D Filing - Charah Holdings LP filing for Charah Solutions Inc. (CHRA) - 2022-11-23

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, DC 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

 

CHARAH SOLUTIONS, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

15957P105

(CUSIP Number)

Mark Spender

Bernhard Capital Partners

400 Convention Street, Suite 1010

Baton Rouge, LA, 70802

(225) 228-2300

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

with a copy to:

Julian Seiguer

Kirkland & Ellis LLP

609 Main Street, Suite 4500

Houston, Texas 77002

(713) 836-3600

November 18, 2022

(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 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 the disclosures provided in a prior cover page.

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 “Exchange 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).

 

 

 

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  Charah Holdings LP

  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

 

  3,054,816

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  3,054,816

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  3,054,816

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  5.06%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  PN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  Charah Holdings GP 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

 

  3,054,816

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  3,054,816

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  3,054,816

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  5.06%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  OO

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BCP Energy Services Fund, LP

  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

 

  5,483,597

   6   

  SHARED VOTING POWER

 

  3,054,816

   7   

  SOLE DISPOSITIVE POWER

 

  5,483,597

   8   

  SHARED DISPOSITIVE POWER

 

  3,054,816

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  8,538,413

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  14.15%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  PN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BCP Energy Services Fund-A, LP

  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

 

  7,597,932

   6   

  SHARED VOTING POWER

 

  3,054,816

   7   

  SOLE DISPOSITIVE POWER

 

  7,597,932

   8   

  SHARED DISPOSITIVE POWER

 

  3,054,816

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  10,652,748

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  17.65%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  PN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  Charah Preferred Stock Aggregator, LP

  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

 

  26,627,662

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  26,627,662

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

& #xA0; AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  26,627,662

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  44.12%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  PN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  Charah Preferred Stock Aggregator GP, 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

 

  26,627,662

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  26,627,662

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  26,627,662

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  44.12%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  OO

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 < /p>

  BCP Energy Services Fund GP, LP

  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

 

  42,764,007

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  42,764,007

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  42,764,007

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  70.86%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  PN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BCP Energy Services Fund UGP, 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

 

  42,764,007

   6   

  SHARED VOTING POWER

 

  0

   7   

  SOLE DISPOSITIVE POWER

 

  42,764,007

   8   

  SHARED DISPOSITIVE POWER

 

  0

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  42,764,007

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  70.86%

12  

  TYPE OF REPORTING PERSON (see instructions)

 

  OO

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  James M. Bernhard Jr.

  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

 

  United States

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  42,764,007

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  42,764,007

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  42,764,007

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  70.86%

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

  IN

SCHEDULE 13D

CUSIP No. 15957P105

 

  1    

  NAMES OF REPORTING PERSONS

 

  Jeffrey Scott Jenkins

  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

 

  United States

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

    5     

  SOLE VOTING POWER

 

  0

   6   

  SHARED VOTING POWER

 

  42,764,007

   7   

  SOLE DISPOSITIVE POWER

 

  0

   8   

  SHARED DISPOSITIVE POWER

 

  42,764,007

  9    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  42,764,007

10  

  CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)

 

  ☐

11  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

  70.86%

12  

  TYPE OF REPORTING PERSON (See Instructions)

 

  IN

AMENDMENT NO. 4 TO SCHEDULE 13D

Explanatory Note

This Amendment No. 4 (“Amendment No. 4”) amends and supplements the Schedule 13D (the “Original Schedule 13D”) filed on March 26, 2020, as amended by that certain Amendment No. 1 to the Original Schedule 13D (“Amendment No. 1”), filed on November 23, 2020, that certain Amendment No. 2 to the Original Schedule 13D (“Amendment No. 2”), filed on January 4, 2022 and by that certain Amendment No. 3 to the Original Schedule 13D (“Amendment No. 3”), filed on November 18, 2022, and as amended through this Amendment No. 4 (the “Schedule 13D”). Except as specifically amended by this Amendment No. 4, the Schedule 13D remains in full force and effect. Capitalized terms used but not otherwise defined herein shall have the respective meanings previously ascribed to them in the Schedule 13D.

Item 5. Interest in Securities of the Issuer

Item 5 of this Schedule 13D is hereby amended and supplemented to include the following:

(a) As of the date hereof, the Reporting Persons beneficially own 42,764,007 shares of Common Stock, representing 70.86% of the outstanding shares.

The ownership percentage appearing on such cover pages has been calculated based on an aggregate total of 33,721,705 shares of Common Stock issued and outstanding as of November 1, 2022, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on September 30, 2022, plus 26,627,662 shares of Common Stock beneficially owned by the Reporting Persons underlying the Series A Preferred Stock and Series B Preferred Stock.

(b) See items 1 through 10 of the cover pages to this Statement for the number of shares of Common Stock beneficially owned by each of the Reporting Persons as to which there is sole or shared power to vote or to direct the vote, and sole or shared power to dispose or to direct the disposition.

(c) Since the filing of Amendment No. 3, the Reporting Persons have acquired a total of 844,000 shares of Common Stock, for an aggregate purchase price of $684,558.49, which amount excludes commissions and other execution-related costs. Except for the transactions set forth in Schedule I, the Reporting Persons have not effected any transaction in Common Stock during the past 60 days.

(d) To the best knowledge of the Reporting Persons, no other person besides the Reporting Persons or the partners, members, affiliates or shareholders of the Reporting Persons, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities of the Issuer reported herein.

(e) Not applicable.

SIGNATURES

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.

Dated: November 22, 2022

 

BCP ENERGY SERVICES UGP, LLC
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory
BCP ENERGY SERVICES FUND GP, LP
By: BCP Energy Services Fund UGP, LLC, its general partner
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory
CHARAH PREFERRED STOCK AGGREGATOR, LP
By: Charah Preferred Stock Aggregator GP, LLC, its general partner
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory

CHARAH PREFERRED STOCK AGGREGATOR GP, LLC

By: BCP Energy Services Fund GP, LP, its general partner

By: BCP Energy Services Fund UGP, LLC, its general partner

By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory
BCP ENERGY SERVICES FUND-A, LP
By: BCP Energy Services Fund GP, LP, its general partner
By: BCP Energy Services Fund UGP, LLC, its general partner
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory

BCP ENERGY SERVICES FUND, LP
By: BCP Energy Services Fund GP, LP, its general partner
By: BCP Energy Services Fund UGP, LLC, its general partner
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Authorized Signatory
CHARAH HOLDINGS GP LLC
By:  

/s/ Mark Spender

Name:   Mark Spender
Title:   Authorized Signatory
CHARAH HOLDINGS LP
By: Charah Holdings GP LLC, its general partner
By:  

/s/ Mark Spender

Name:   Mark Spender
Title:   Authorized Signatory
JAMES M. BERNHARD JR.
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins
Title:   Attorney-in-fact
JEFFERY SCOTT JENKINS
By:  

/s/ Jeffrey Jenkins

Name:   Jeffrey Jenkins

SCHEDULE I

This schedule sets forth information with respect to each acquisition of Common Stock that was effectuated by the Reporting Persons through Charah Holdings LP, BCP Energy Services Fund, LP and BCP Energy Services Fund-A, LP.

Charah Holdings LP

 

Date

    Number of
Shares		      Price Per
Share		      Principal(1)  

11/18/2022

      66,638      $ 0.69912      $ 46,587.96  

11/21/2022

      47,707      $ 0.76282      $ 36,391.85  

11/22/2022

      45,435      $ 1.02599      $ 46,615.86  

BCP Energy Services Fund, LP

 

Date

    Number of
Shares		      Price Per
Share		      Principal(1)  

11/18/2022

      119,620      $ 0.69912      $ 83,628.73  

11/21/2022

      85,637      $ 0.76282      $ 65,325.62  

11/22/2022

      81,559      $ 1.02599      $ 83,678.72  

BCP Energy Services Fund-A, LP

 

Date

    Number of
Shares		      Price Per
Share		      Principal(1)  

11/18/2022

      165,742      $ 0.69912      $ 115,873.55  

11/21/2022

      118,656      $ 0.76282      $ 90,513.17  

11/22/2022

      113,006      $ 1.02599      $ 115,943.03  

 

(1)

Principal excludes commissions and other execution-related costs.