1
|
NAME OF REPORTING PERSONS
Nicholas J. Swenson
|
|||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ¨
(b) o
|
||
3
|
SEC USE ONLY
|
|||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF
|
|||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
¨
|
||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
|||
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
403,982
|
||
6
|
SHARED VOTING POWER
77,467
|
|||
7
|
SOLE DISPOSITIVE POWER
403,982
|
|||
8
|
SHARED DISPOSITIVE POWER
77,467
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
481,449
|
|||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
¨
|
||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.2%
|
|||
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
|
1
|
NAME OF REPORTING PERSONS
Groveland Hedged Credit Master Fund Ltd.
|
|||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ¨
(b) o
|
||
3
|
SEC USE ONLY
|
|||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC
|
|||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
¨
|
||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|||
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
6
|
SHARED VOTING POWER
51,600
|
|||
7
|
SOLE DISPOSITIVE POWER
0
|
|||
8
|
SHARED DISPOSITIVE POWER
51,600
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,600
|
|||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
¨
|
||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5%
|
|||
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
|
1
|
NAME OF REPORTING PERSONS
Glenhurst Co.
|
|||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ¨
(b) o
|
||
3
|
SEC USE ONLY
|
|||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC
|
|||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
¨
|
||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
|
|||
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
6
|
SHARED VOTING POWER
25,867
|
|||
7
|
SOLE DISPOSITIVE POWER
0
|
|||
8
|
SHARED DISPOSITIVE POWER
25,867
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,867
|
|||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
¨
|
||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.8%
|
|||
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
|
●
|
Groveland Hedged Credit Master Fund Ltd., a Delaware corporation, wholly owned by Nicholas J. Swenson (“Groveland”).
|
●
|
Glenhurst Co., a Minnesota corporation, wholly owned by Nicholas J. Swenson (“Glenhurst”).
|
●
|
Nicholas J. Swenson, as the sole owner of Groveland and Glenhurst, and as an individual.
|
Name
|
Shares of Common Stock
Beneficially Owned
|
Percentage of Shares of Common Stock Beneficially Owned
|
Nicholas J. Swenson
|
403,982
|
11.9%
|
Groveland
|
51,600
|
1.5%
|
Glenhurst
|
25,867
|
0.8%
|
Total
|
481,449
|
14.2%
|
Name
|
Trade Date
|
Number of Shares Purchased
|
Price Per Share
|
Where and How Transaction was Effected
|
Groveland
|
1/31/2013
|
36,000
|
$3.80
|
Open market purchase
|
Groveland
|
2/13/2013
|
8,905
|
$3.8549
|
Open market purchase
|
Groveland
|
2/14/2013
|
800
|
$3.9225
|
Open market purchase
|
Groveland
|
2/21/2013
|
5,800
|
$3.85
|
Open market purchase
|
Groveland
|
2/22/2013
|
95
|
$3.925
|
Open market purchase
|
Exhibit No.
|
Description
|
1
|
Joint Filing Agreement*
|
2
|
Letter to Board of Directors dated March 14, 2013 (replaces and supersedes the letter filed as Exhibit No. 2 to Amendment No. 8 of this Schedule 13D)
|
* Previously filed
|
●
|
The board of directors approving the tender, to ensure the shares purchased retain full rights of share ownership, including voting rights, under Minnesota law.
|
●
|
The board of directors agreeing to my serving as a director of the company on the company’s five member board.
|
●
|
No material changes in the business or corporate governance being effected until I am on the board.
|