-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NMaYiiyl8szGYADX3oz39eQlEmFWhc5DP1A+iQ2JlgnO0ShYqxeW5t4wM8UPEuyH c8CcCDHmdgPjO/AN+GF0lA== 0000950137-09-001079.txt : 20090217 0000950137-09-001079.hdr.sgml : 20090216 20090217100246 ACCESSION NUMBER: 0000950137-09-001079 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090217 DATE AS OF CHANGE: 20090217 GROUP MEMBERS: JACOB CAPITAL, L.L.C. GROUP MEMBERS: RICHARD LEVY GROUP MEMBERS: VICTORY PARK CREDIT OPPORTUNITIES MASTER FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Global Employment Holdings, Inc. CENTRAL INDEX KEY: 0001348155 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 432069359 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81686 FILM NUMBER: 09607754 BUSINESS ADDRESS: STREET 1: C/O DAN HOLLENBACH STREET 2: 10375 PARK MEADOWS DRIVE, SUITE 375 CITY: LONE TREE STATE: CO ZIP: 80124 BUSINESS PHONE: 303-200-1545 MAIL ADDRESS: STREET 1: C/O DAN HOLLENBACH STREET 2: 10375 PARK MEADOWS DRIVE, SUITE 375 CITY: LONE TREE STATE: CO ZIP: 80124 FORMER COMPANY: FORMER CONFORMED NAME: R&R ACQUISITION I, INC DATE OF NAME CHANGE: 20051228 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Victory Park Capital Advisors, LLC CENTRAL INDEX KEY: 0001413834 IRS NUMBER: 208996172 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 227 WEST MONROE STREET, SUITE 3900 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-479-4947 MAIL ADDRESS: STREET 1: 227 WEST MONROE STREET, SUITE 3900 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13G/A 1 c49382dsc13gza.htm AMENDMENT TO SCHEDULE 13G sc13gza
     
 
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Global Employment Holdings, Inc.
 
(Name of Issuer)
Common Stock, par value $0.001 per share
 
(Title of Class of Securities)
378971105
 
(CUSIP Number)
December 31, 2008
 
(Date of Event Which Requires Filing of this Statement)
     Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
o Rule 13d-1(b)

þ Rule 13d-1(c)

o 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 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 (“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).
 
 

Page 1 of  9

 

                     
CUSIP No.
  
378971105 
 13G/A

 

           
1   NAMES OF REPORTING PERSONS
Victory Park Capital Advisors, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,052,042*
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 8   SHARED DISPOSITIVE POWER
     
    1,052,042*
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,052,042*
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  9.97%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO
* Excludes 863,662 shares of common stock, par value per share $0.001 (the “Common Stock”) of Global Employment Holdings, Inc. (the “Issuer”) issuable upon conversion of a convertible bond of the Issuer and 1,406,564 shares of Common Stock issuable upon conversion of the Issuer’s convertible preferred stock, which convertible bond and convertible preferred stock are subject to so-called “blocker” provisions prohibiting the holder from converting the bond or convertible preferred stock, as applicable, when the holder, together with its affiliates, beneficially owns more than 4.99% of the issued and outstanding shares of Common Stock.

Page 2 of  9

 

                     
CUSIP No.
  
378971105 
 13G/A

 

           
1   NAMES OF REPORTING PERSONS
Victory Park Credit Opportunities Master Fund, Ltd.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Cayman Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,052,042*
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 8   SHARED DISPOSITIVE POWER
     
    1,052,042*
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,052,042*
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  9.97%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO
* Excludes 863,662 shares of Common Stock of the Issuer issuable upon conversion of a convertible bond of the Issuer and 1,406,564 shares of Common Stock issuable upon conversion of the Issuer’s convertible preferred stock, which convertible bond and convertible preferred stock are subject to so-called “blocker” provisions prohibiting the holder from converting the bond or convertible preferred stock, as applicable, when the holder, together with its affiliates, beneficially owns more than 4.99% of the issued and outstanding shares of Common Stock.

Page 3 of 9

 

                     
CUSIP No.
  
378971105 
 13G/A

 

           
1   NAMES OF REPORTING PERSONS
Jacob Capital, L.L.C.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Illinois
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,052,042*
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 8   SHARED DISPOSITIVE POWER
     
    1,052,042*
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,052,042*
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  9.97%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO
* Excludes 863,662 shares of Common Stock of the Issuer issuable upon conversion of a convertible bond of the Issuer and 1,406,564 shares of Common Stock issuable upon conversion of the Issuer’s convertible preferred stock, which convertible bond and convertible preferred stock are subject to so-called “blocker” provisions prohibiting the holder from converting the bond or convertible preferred stock, as applicable, when the holder, together with its affiliates, beneficially owns more than 4.99% of the issued and outstanding shares of Common Stock.

Page 4 of 9

 

                     
CUSIP No.
  
378971105 
 13G/A

 

           
1   NAMES OF REPORTING PERSONS
Richard Levy
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  USA
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,052,042*
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 8   SHARED DISPOSITIVE POWER
     
    1,052,042*
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  1,052,042*
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  9.97%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* Excludes 863,662 shares of Common Stock of the Issuer issuable upon conversion of a convertible bond of the Issuer and 1,406,564 shares of Common Stock issuable upon conversion of the Issuer’s convertible preferred stock, which convertible bond and convertible preferred stock are subject to so-called “blocker” provisions prohibiting the holder from converting the bond or convertible preferred stock, as applicable, when the holder, together with its affiliates, beneficially owns more than 4.99% of the issued and outstanding shares of Common Stock.

Page 5 of 9

 

                     
CUSIP No.
  
378971105 
 13G/A
Item 1(a)   Name of Issuer:

Global Employment Holdings, Inc. (the “Issuer”)
Item 1(b)   Address of Issuer’s Principal Executive Offices:

10375 Park Meadows Drive, Suite 375
Lone Tree, Colorado 80124
Item 2(a)   Name of Person Filing:

Victory Park Capital Advisors, LLC
Victory Park Credit Opportunities Master Fund, Ltd.
Jacob Capital, L.L.C.
Richard Levy

Victory Park Capital Advisors, LLC is the investment manager for Victory Park Credit Opportunities Master Fund, Ltd., which is the record holder of the shares reported herein. Jacob Capital, L.L.C. is the manager of Victory Park Capital Advisors, LLC. Richard Levy is the sole member of Jacob Capital, L.L.C.
Item 2(b)   Address of Principal Business Office or, if none, Residence:

The business address for each of the reporting persons, other than Victory Park Credit Opportunities Master Fund, Ltd., is 227 West Monroe Street, Suite 3900, Chicago, Illinois 60606. The business address for Victory Park Credit Opportunities Master Fund, Ltd. is c/o Walkers SPV Limited, Walker House, 87 Mary Street, George Town, Grand Cayman, KY1 9002 Cayman Islands.
Item 2(c)   Citizenship:

Victory Park Capital Advisors, LLC is a Delaware limited liability company.
Victory Park Credit Opportunities Master Fund, Ltd. is a Cayman Islands exempted company.
Jacob Capital, L.L.C. is an Illinois limited liability company.
Richard Levy is a citizen of the United States.
Item 2(d)   Title of Class of Securities:

Common Stock, par value per share $.001 (the “Common Stock”)
Item 2(e)   CUSIP Number:

378971105
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:

Not Applicable
Item 4.   Ownership:

As of December 31, 2008:

Page 6 of 9

 

                     
CUSIP No.
  
378971105 
 13G/A
         
(a)
   Amount beneficially owned:    
 
        
 
   Victory Park Capital Advisors, LLC   1,052,042 shares
 
   Victory Park Credit Opportunities Master Fund, Ltd.   1,052,042 shares
 
   Jacob Capital, L.L.C.   1,052,042 shares
 
   Richard Levy   1,052,042 shares
 
        
    Each of the reporting persons may be deemed to be the beneficial owner of (i) a convertible bond issued by the Issuer which is convertible for 863,662 shares of Common Stock and (ii) 1,406,564 shares of the Issuer’s convertible preferred stock which is convertible on a one-for-one basis for Common Stock. Victory Park Credit Opportunities Master Fund, Ltd. is the record holder of the convertible bond and the convertible preferred stock. Each of the convertible bond and the convertible preferred stock contains a contractual provision blocking its conversion when the holder, together with its affiliates, beneficially owns more than 4.99% of the issued and outstanding shares of Common Stock. Accordingly, based on the number of shares of Common Stock outstanding as described in Item 4(b) below, the convertible bond and the convertible preferred stock cannot be converted for shares of Common Stock and consequently, the shares underlying them have not been included in the number of shares beneficially owned by the holder and other reporting persons.
 
        
(b)
   Percent of class:    
 
        
 
   Victory Park Capital Advisors, LLC   9.97%
 
   Victory Park Credit Opportunities Master Fund, Ltd.   9.97%
 
   Jacob Capital, L.L.C.   9.97%
 
   Richard Levy   9.97%
 
        
    The percent of class was calculated using a total of 10,548,330 shares of Common Stock of the Issuer outstanding as of November 12, 2008 as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 28, 2008 as filed with the Securities and Exchange Commission on November 12, 2008.
 
        
(c)
   Number of shares as to which the person has:    
 
        
 
   (i) Sole power to vote or to direct the vote    
 
        
 
   Victory Park Capital Advisors, LLC   0 shares
 
   Victory Park Credit Opportunities Master Fund, Ltd.   0 shares
 
   Jacob Capital, L.L.C.   0 shares
 
   Richard Levy   0 shares
 
        
 
   (ii) Shared power to vote or to direct the vote    
 
        
 
   Victory Park Capital Advisors, LLC   1,052,042 shares
 
   Victory Park Credit Opportunities Master Fund, Ltd.   1,052,042 shares
 
   Jacob Capital, L.L.C.   1,052,042 shares
 
   Richard Levy   1,052,042 shares
 
        
 
   (iii) Sole power to dispose or direct the disposition of    
 
        
 
   Victory Park Capital Advisors, LLC   0 shares
 
   Victory Park Credit Opportunities Master Fund, Ltd.   0 shares
 
   Jacob Capital, L.L.C.   0 shares
 
   Richard Levy   0 shares

Page 7 of  9

 

                     
CUSIP No.
  
378971105 
 13G/A
      (iv)Shared power to dispose or to direct the disposition of
         
 
  Victory Park Capital Advisors, LLC   1,052,042 shares
 
  Victory Park Credit Opportunities Master Fund, Ltd.   1,052,042 shares
 
  Jacob Capital, L.L.C.   1,052,042 shares
 
  Richard Levy   1,052,042 shares
Item 5.   Ownership of Five Percent or Less of a Class:

Not Applicable.
Item 6.   Ownership of More than Five Percent on Behalf of Another Person:

Not Applicable.
Item 7.   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:

Not Applicable.
Item 8.   Identification and Classification of Members of the Group:

Not Applicable.
Item 9.   Notice of Dissolution of Group:

Not Applicable.
Item 10.  Certification:
By signing below each of Victory Park Capital Advisors, LLC, Victory Park Credit Opportunities Master Fund, Ltd., Jacob Capital, L.L.C. and Richard Levy certify that, to the best of such reporting person’s 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.
SIGNATURE
     After reasonable inquiry and to the best of their knowledge and belief, each of Victory Park Capital Advisors, LLC, Victory Park Credit Opportunities Master Fund, Ltd., Jacob Capital, L.L.C. and Richard Levy certify that the information set forth in this statement is true, complete and correct.
         
  Date: February 12, 2009

VICTORY PARK CAPITAL ADVISORS, LLC
 		  
  By:   Jacob Capital, L.L.C., its Manager    
       
  By:   /s/ Richard Levy    
    Name:   Richard Levy   
    Title:   Sole Member  

Page 8 of  9

 

                     
CUSIP No.
  
378971105 
 13G/A
         
         
 


VICTORY PARK CREDIT OPPORTUNITIES MASTER FUND, LTD.
 		  
  By:   /s/ Richard Levy    
    Name:   Richard Levy   
    Title:   Attorney-in-Fact*   
 
  JACOB CAPITAL, L.L.C.
 		  
  By:   /s/ Richard Levy    
    Name:   Richard Levy   
    Title:   Sole Member   
 
     
  /s/ Richard Levy    
  Richard Levy   
     
 
 
*   Power of Attorney previously filed

Page 9 of  9

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