SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* CN-SCH, LLC (Last) (First) (Middle) 900 THIRD AVENUE (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 11/07/2011	3. Issuer Name and Ticker or Trading Symbol Selway Capital Acquisition Corp. [ SWCAU ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series C Common Stock	258,750(1)	I	Through Selway Capital Holdings LLC(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* CN-SCH, LLC (Last) (First) (Middle) 900 THIRD AVENUE (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Bounty Investments, LLC (Last) (First) (Middle) C/O RENOVA U.S. MANAGEMENT LLC 900 THIRD AVENUE, 19TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Santa Maria Overseas Ltd. (Last) (First) (Middle) C/O RENOVA U.S. MANAGEMENT LLC 601 LEXINGTON AVENUE, 58TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Mayflower Trust (Last) (First) (Middle) C/O RENOVA U.S. MANAGEMENT LLC 601 LEXINGTON AVENUE, 58TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* TZ Columbus Services Ltd (Last) (First) (Middle) C/O RENOVA U.S. MANAGEMENT LLC 601 LEXINGTON AVENUE, 58TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The Reporting Persons (as defined below) have an indirect pecuniary interest in 258,750 shares of the Issuer (including up to 33,750 shares that are subject to redemption by the Issuer) through Selway Capital Holdings LLC, which owns an aggregate of 575,000 shares (including up to 75,000 shares that are subject to redemption by the Issuer). The number of shares beneficially owned by the Reporting Persons represent the extent to which the Reporting Persons have a pecuniary interest in the shares owned by Selway Capital Holdings LLC. Each reporting entity disclaims beneficial ownership of the reported securities except to the extent of the entity's pecuniary interest in them.

Remarks:

This form is filed by: (i) CN-SCH, LLC ("CN-SCH"), (ii) Bounty Investments, LLC ("Bounty"), (iii) Santa Maria Overseas Ltd. ("Santa Maria"), (iv) Mayflower Trust ("Mayflower") and (iv) TZ Columbus Services Limited ("TZ", and together with CN-SCH, Bounty, Santa Maria and Mayflower, the "Reporting Persons").The securities reported on this Form 3 report are directly held by Selway Capital Holdings LLC. CN-SCH is a member of Selway Capital Holdings LLC. Bounty owns 100% of the equity interests of CN-SCH. Santa Maria owns 80% of the equity interests of Bounty. Mayflower owns 100% of the equity interests of Santa Maria. TZ is the trustee of Mayflower. Andrew Intrater is the Chief Executive Officer of each of Bounty and CN-SCH and a director of the Issuer.

	CN-SCH, LLC, /s/ Andrew Intrater, Chief Executive Officer	11/07/2011
	BOUNTY INVESTMENTS, LLC, /s/ Andrew Intrater, Chief Executive Officer	11/07/2011
	SANTA MARIA OVERSEAS LTD., /s/ Andrew Intrater, Attorney-in-fact	11/07/2011
	MAYFLOWER TRUST, /s/ Andrew Intrater, Attorney-in-fact	11/07/2011
	TZ COLUMBUS SERVICES LTD., /s/ Andrew Intrater, Attorney-in-fact	11/07/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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