0001011438-14-000170.txt : 20140214 0001011438-14-000170.hdr.sgml : 20140214 20140214165404 ACCESSION NUMBER: 0001011438-14-000170 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140214 DATE AS OF CHANGE: 20140214 GROUP MEMBERS: DEREK C. SCHRIER GROUP MEMBERS: IC GP LLC GROUP MEMBERS: INDABA CAPITAL FUND L.P. GROUP MEMBERS: INDABA PARTNERS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Imperial Holdings, Inc. CENTRAL INDEX KEY: 0001494448 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 300663473 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86093 FILM NUMBER: 14618062 BUSINESS ADDRESS: STREET 1: 701 PARK OF COMMERCE BOULEVARD STREET 2: SUITE 301 CITY: BOCA RATON STATE: FL ZIP: 33487 BUSINESS PHONE: 561-995-4200 MAIL ADDRESS: STREET 1: 701 PARK OF COMMERCE BOULEVARD STREET 2: SUITE 301 CITY: BOCA RATON STATE: FL ZIP: 33487 FORMER COMPANY: FORMER CONFORMED NAME: Imperial Holdings, LLC DATE OF NAME CHANGE: 20100617 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Indaba Capital Management, L.P. CENTRAL INDEX KEY: 0001524362 IRS NUMBER: 271639439 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: ONE LETTERMAN DRIVE STREET 2: BUILDING D, SUITE DM700 CITY: SAN FRANCISCO STATE: CA ZIP: 94129 BUSINESS PHONE: (415) 680-1180 MAIL ADDRESS: STREET 1: ONE LETTERMAN DRIVE STREET 2: BUILDING D, SUITE DM700 CITY: SAN FRANCISCO STATE: CA ZIP: 94129 FORMER COMPANY: FORMER CONFORMED NAME: Indaba Capital Management, LLC DATE OF NAME CHANGE: 20110627 SC 13G/A 1 form_sc13ga-imperial.htm form_sc13ga-imperial.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 3)*
 

IMPERIAL HOLDINGS, INC.
(Name of Issuer)


Common Stock, par value $0.01 per share
 (Title of Class Securities)


452834104
(CUSIP Number)

 
 
December 31, 2013
(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)
 
x
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 disclosure 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).
 
 



 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 2 of 11



 
       
 
1
NAME OF REPORTING PERSONS.
 
Indaba Capital Management, L.P.
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
 
 
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [   ]
(b) [X]
 
 
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
 
0
 
 
6
 
Shared Voting Power
 
 1,866,902
 
 
7
 
Sole Dispositive Power
 
0
 
 
8
 
Shared Dispositive Power
 
 1,866,902
 
 
9
 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,866,902
 
10
 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
 
11
 
Percent of Class Represented by Amount in Row (9)
 
8.79% (1)
 
12
 
Type of Reporting Person (See Instructions)
 
IA
       
(1)  
Calculation of the foregoing percentage is based on 21,237,166 shares of common stock of Imperial Holdings, Inc. (the “Issuer”) based on information provided by the Issuer.
 

 
 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 3 of 11


 
1
NAME OF REPORTING PERSONS.
 
Indaba Partners, LLC
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
 
 
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [   ]
(b) [X]
 
 
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
 
0
 
 
6
 
Shared Voting Power
 
1,866,902
 
 
7
 
Sole Dispositive Power
 
0
 
 
8
 
Shared Dispositive Power
 
1,866,902
 
 
9
 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,866,902
 
10
 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
 
11
 
Percent of Class Represented by Amount in Row (9)
 
8.79% (1)
 
12
 
Type of Reporting Person (See Instructions)
 
OO
       
(1)  
Calculation of the foregoing percentage is based on 21,237,166 shares of common stock of the Issuer based on information provided by the Issuer.
 
 
 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 4 of 11


 
1
NAME OF REPORTING PERSONS.
 
IC GP, LLC
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
 
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
 
(a) [   ]
(b) [X]
 
 
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
 
 
0
 
6
 
Shared Voting Power
 
 
1,866,902
 
7
 
Sole Dispositive Power
 
 
0
 
8
 
Shared Dispositive Power
 
 
1,866,902
 
9
 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
1,866,902
 
10
 
 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
 
11
 
 
Percent of Class Represented by Amount in Row (9)
 
 
8.79% (1)
 
12
 
 
Type of Reporting Person (See Instructions)
 
 
OO
       
(1)  
Calculation of the foregoing percentage is based on 21,237,166 shares of common stock of the Issuer based on information provided by the Issuer.

 
 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 5 of 11


 
1
NAME OF REPORTING PERSONS.
 
Indaba Capital Fund, L.P.
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
 
 
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [   ]
(b) [X]
 
 
3
SEC Use Only
 
 
 
4
Citizenship or Place of Organization
 
Cayman Islands
 
 
 
 
 
 
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH
 
 
 
5
 
Sole Voting Power
 
0
 
 
6
 
Shared Voting Power
 
1,866,902
 
 
7
 
Sole Dispositive Power
 
0
 
 
8
 
Shared Dispositive Power
 
1,866,902
 
 
9
 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,866,902
 
10
 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
 
11
 
Percent of Class Represented by Amount in Row (9)
 
8.79% (1)
 
12
 
Type of Reporting Person (See Instructions)
 
PN
       
 
(1)  
Calculation of the foregoing percentage is based on 21,237,166 shares of common stock of the Issuer based on information provided by the Issuer.

 
 
 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 6 of 11


 
1
NAME OF REPORTING PERSONS.
 
Derek C. Schrier
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
 
 
 
2
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) [   ]
(b) [X]
 
 
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
 
6,359
 
 
6
 
Shared Voting Power
 
1,866,902
 
 
7
 
Sole Dispositive Power
 
6,359
 
 
8
 
Shared Dispositive Power
 
1,866,902
 
 
9
 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
1,873,261
 
10
 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
 
11
 
Percent of Class Represented by Amount in Row (9)
 
8.82% (1)
 
12
 
Type of Reporting Person (See Instructions)
 
IN
       
(1)  
Calculation of the foregoing percentage is based on 21,237,166 shares of common stock of the Issuer based on information provided by the Issuer.

 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 7 of 11


 Item 1.

                   
 
(a)
Name of Issuer
    
 
 
Imperial Holdings, Inc.
 
    
 
(b)
Address of Issuer’s Principal Executive Offices
  
 
 
701 Park of Commerce Boulevard, Suite 301, Boca Raton, Florida 33487
 
Item 2.

                           
 
(a)
Name of Person Filing
    
 
 
This Schedule 13G/A is being filed jointly on behalf of:
(i) Indaba Capital Fund, L.P., a Cayman Islands exempted limited partnership (the "Fund"),
(ii) Indaba Capital Management, L.P., a Delaware limited partnership, and the Fund's investment manager (the "Investment Manager"),
(iii) Indaba Partners, LLC, a Delaware limited liability company, and the Fund's sole general partner (the "General Partner"), 
(iv) IC GP, LLC, a Delaware limited liability company, and the Investment Manager’s sole general partner (“IC GP”), and
(v)  Derek C. Schrier, a United States citizen and the Managing Member of IC GP and the Senior Managing Member of the General Partner (the “Senior Managing Member” and, collectively with the Investment Manager, the General Partner, IC GP and the Fund, the “Reporting Persons”).
 
  
 
(b)
Address of Principal Business office or, if None, Residence
  
 
 
The business address of each of the Investment Manager, the General Partner, IC GP and the Senior Managing Member is One Letterman Drive, Building D, Suite DM700, San Francisco, California 94129, USA. The registered office address of the Fund is c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands.
 
  
 
(c)
Citizenship
    
 
 
The Investment Manager is a Delaware limited partnership, each of IC GP and the General Partner is a Delaware limited liability company and the Fund is a Cayman Islands exempted limited partnership. The Senior Managing Member is a United States citizen.
 
  
 
(d)
Title of Class Securities
    
 
 
Common Stock, par value $0.01 per share
 
  
 
(e)
CUSIP Number
    
 
 
452834104
    
 
   
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:

         
 
(a)
[
]
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78c).
 
         
 
(b)
[
]
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
 
         
 
(c)
[
]
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
 
         
   
(d)
[
]
Investment company registered under section 8 of the Investment Company Act (15 U.S.C. 80a-8).
 
         
 
(e)
[  
]
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E).
 
 

 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 8 of 11


         
 
(f)
[
]
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(ii)(F).
 
         
 
(g)
[
]
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G).
 
         
 
(h)
[
]
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
 
         
 
(i)
[
]
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3).
 
         
 
(j)
[
]
Group in accordance with § 240.13d-1(b)(ii)(J).
 
   
Item 4.
Ownership
 
(a) 
 Amount beneficially owned:
 
As of February 13, 2014, the Reporting Persons beneficially own the shares of Common Stock referenced in Item 9 of the cover page pertaining to each Reporting Person and such Item 9 disclosure is incorporated herein by reference.
 
The Reporting Persons specifically disclaim beneficial ownership in the shares of Common Stock reported herein except to the extent of their pecuniary interest therein.
 
(b) Percent of class:
 
Incorporated by reference to Item 11 of the cover page pertaining to each Reporting Person.
 
(c) Number of shares to which the person has:
 
 
(i) Sole power to vote or to direct the vote:
 
 
Incorporated by reference to Item 5 of the cover page pertaining to each Reporting Person.
 
 
(ii) Shared power to direct the vote:
 
 
Incorporated by reference to Item 6 of the cover page pertaining to each Reporting Person.
 
 
(iii) Sole power to dispose or to direct the disposition of:
 
 
Incorporated by reference to Item 7 of the cover page pertaining to each Reporting Person.
 
 
(iv) Shared power to dispose or to direct the disposition of:
 
 
Incorporated by reference to Item 8 of the cover page pertaining to each Reporting Person.
 
 
   
Item 5.
Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class securities, check the following [   ].

   
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 or Control Person.

Not applicable.
 
   
Item 8.
Identification and Classification of Members of the Group.

Not applicable.
  

 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 9 of 11


Item 9.
Notice of Dissolution of Group.

Not applicable.
 
   
Item 10.
Certification:

By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose 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.

 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 10 of 11



 
SIGNATURE
 

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.

Date:  February 14, 2014
 
 
  INDABA CAPITAL MANAGEMENT, L.P.  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       

 
 
  INDABA PARTNERS, LLC  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       

 
 
  IC GP, LLC  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       
 
 
 
  INDABA CAPITAL FUND, L.P.  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       
 
 
 
  /s/ Derek C. Schrier  
  DEREK C. SCHRIER  
       
 

 
 
EXHIBIT INDEX
 
Exhibit                      Description
 
99.1                          Joint Filing Agreement by and among the Reporting Persons
 
 

 
 
 
CUSIP No. 452834104
SCHEDULE 13G
Page 11 of 11


Exhibit 1

 
JOINT FILING AGREEMENT
 
PURSUANT TO RULE 13D-1(k)1
 

 
The undersigned acknowledge and agree that the foregoing Schedule 13G/A is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G/A shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
 

 
Date:  February 14, 2014
 

  INDABA CAPITAL MANAGEMENT, L.P.  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       

 
 
  INDABA PARTNERS, LLC  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       

 
 
  IC GP, LLC  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       
 
 
 
  INDABA CAPITAL FUND, L.P.  
       
 
By:
/s/ Hank Brier  
    Name: Hank Brier  
    Title: General Counsel  
       
 
 
 
  /s/ Derek C. Schrier  
  DEREK C. SCHRIER