0000921895-15-001756.txt : 20150710 0000921895-15-001756.hdr.sgml : 20150710 20150710171304 ACCESSION NUMBER: 0000921895-15-001756 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20150710 DATE AS OF CHANGE: 20150710 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Cinedigm Corp. CENTRAL INDEX KEY: 0001173204 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 223720962 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-79352 FILM NUMBER: 15984283 BUSINESS ADDRESS: STREET 1: 902 BROADWAY STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-206-8600 MAIL ADDRESS: STREET 1: 902 BROADWAY STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: Cinedigm Digital Cinema Corp. DATE OF NAME CHANGE: 20091006 FORMER COMPANY: FORMER CONFORMED NAME: Access Integrated Technologies, Inc. d/b/a Cinedigm Digital Cinema Corp. DATE OF NAME CHANGE: 20081202 FORMER COMPANY: FORMER CONFORMED NAME: ACCESS INTEGRATED TECHNOLOGIES INC DATE OF NAME CHANGE: 20020509 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AOF Management LLC CENTRAL INDEX KEY: 0001610521 IRS NUMBER: 320322036 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 10940 WILSHIRE BOULEVARD STREET 2: SUITE 1450 CITY: LOS ANGELES STATE: CA ZIP: 90024 BUSINESS PHONE: 310-691-1717 MAIL ADDRESS: STREET 1: 10940 WILSHIRE BOULEVARD STREET 2: SUITE 1450 CITY: LOS ANGELES STATE: CA ZIP: 90024 SC 13D 1 sc13d10051001_06302015.htm sc13d10051001_06302015.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)

(Amendment No.  )1

Cinedigm Corp.
(Name of Issuer)

Class A Common Stock, $0.001 par value per share
(Title of Class of Securities)

172406100
(CUSIP Number)
 
JOSEPH PRETLOW
AOF MANAGEMENT LLC
10940 Wilshire Boulevard, Suite 1450
Los Angeles, CA 90024
(310) 691-1700

STEVE WOLOSKY
ANDREW M. FREEDMAN
OLSHAN FROME WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

June 30, 2015
(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 § 240.13d-7 for other parties to whom copies are to be sent.


_______________
1              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 disclosures provided in a prior cover page.

The information required on 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. 172406100
 
1
NAME OF REPORTING PERSON
 
ACTIVE OWNERS FUND LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,902,003
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,902,003
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,902,003
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.2%
14
TYPE OF REPORTING PERSON
 
PN

 
2

 
CUSIP NO. 172406100
 
1
NAME OF REPORTING PERSON
 
TP-ONE HOLDINGS LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,902,003
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,902,003
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,902,003
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.2%
14
TYPE OF REPORTING PERSON
 
OO

 
3

 
CUSIP NO. 172406100
 
1
NAME OF REPORTING PERSON
 
AOF MANAGEMENT LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,902,003
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,902,003
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,902,003
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.2%
14
TYPE OF REPORTING PERSON
 
IA, OO

 
4

 
CUSIP NO. 172406100
 
1
NAME OF REPORTING PERSON
 
JOSEPH PRETLOW
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
3,902,003
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
3,902,003
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,902,003
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.2%
14
TYPE OF REPORTING PERSON
 
IN

 
5

 
CUSIP NO. 172406100
 
1
NAME OF REPORTING PERSON
 
BEN TERK
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
3,902,003
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
3,902,003
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,902,003
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.2%
14
TYPE OF REPORTING PERSON
 
IN

 
6

 
CUSIP NO. 172406100
 
The following constitutes the Schedule 13D filed by the undersigned (the “Schedule 13D”).
 
Item 1.
Security and Issuer.
 
This statement relates to the Class A Common Stock, $0.001 par value per share (the “Shares”), of Cinedigm Corp., a Delaware corporation (the “Issuer”).  The address of the principal executive offices of the Issuer is 902 Broadway, 9th Floor, New York, New York 10010.
 
Item 2.
Identity and Background.
 
(a)           This statement is filed by:
 
(i)           Active Owners Fund LP, a Delaware limited partnership (“AOF Fund”);
 
(ii)           TP-One Holdings LLC, a Delaware limited liability company (“TP-One”), which serves as the general partner of AOF Fund;
 
(iii)           AOF Management LLC, a Delaware limited liability company (“AOF Management”), which serves as the investment adviser of AOF Fund;
 
(iv)           Joseph Pretlow, who serves as a managing member of each of TP-One and AOF Management; and
 
(v)           Ben Terk, who serves as a managing member of each of TP-One and AOF Management.
 
Each of the foregoing is referred to as a “Reporting Person” and, collectively, as the “Reporting Persons.” Each Reporting Person is party to that certain Joint Filing Agreement, as further described in Item 6.  Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.
 
(b)           The address of the principal office of each Reporting Person is 10940 Wilshire Boulevard, Suite 1450, Los Angeles, CA 90024.
 
(c)           The principal business of AOF Fund is investing in securities.  The principal business of TP-One is serving as the general partner of AOF Fund.  The principal business of AOF Management is serving as the investment adviser of AOF Fund.  The principal occupation of Mr. Pretlow is serving as a managing member of each of TP-One and AOF Management.  The principal occupation of Mr. Terk is serving as a managing member of each of TP-One and AOF Management.
 
(d)           No Reporting Person has, during the last five (5) years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
 
(e)           No Reporting Person has, during the last five (5) years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
(f)           Messrs. Pretlow and Terk are citizens of the United States of America.
 
 
7

 
CUSIP NO. 172406100
 
Item 3.
Source and Amount of Funds or Other Consideration.
 
The Shares purchased by AOF Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein.  The aggregate purchase price of the 3,902,003 Shares beneficially owned by AOF Fund is approximately $4,534,262.76, excluding brokerage commissions.
 
Item 4.
Purpose of Transaction.
 
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.  Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, each Reporting Person or the Reporting Persons may endeavor to increase or decrease his, its or their respective position, as applicable, in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Person or Reporting Persons, as applicable, may deem advisable. 

The Reporting Persons have either recently engaged, or may engage, in discussions with other stockholders, investment funds and members of the investment community, including analysts, bankers and private equity firms, regarding value-enhancing opportunities at the Issuer.
 
No Reporting Person has any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D, except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein.  The Reporting Persons intend to review their investment in the Issuer on a continuing basis.  Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with shareholders of the Issuer and others about the Issuer and the Reporting Persons’ investment, engaging in discussions with other stockholders, investment funds and/or members of the investment community regarding potential value realization events involving the Issuer, discussing proposals with the Issuer concerning changes to the capitalization or ownership structure of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and/or all matters referred to in Item 4.
 
Item 5.
Interest in Securities of the Issuer.
 
The aggregate percentage of Shares reported owned by each person named herein is based upon 74,491,762 Shares outstanding, as of June 22, 2015, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 30, 2015.
 
A.
AOF Fund
 
 
(a)
As of the close of business on July 10, 2015, AOF Fund beneficially owned 3,902,003 Shares.
 
Percentage: Approximately 5.2%
 
 
8

 
CUSIP NO. 172406100
 
 
(b)
1. Sole power to vote or direct vote: 3,902,003
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,902,003
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
The transactions in the Shares by AOF Fund during the past sixty (60) days are set forth in Schedule A and are incorporated herein by reference.
 
B.
TP-One
 
 
(a)
TP-One, as the general partner of AOF Fund, may be deemed the beneficial owner of the 3,902,003 Shares owned by AOF Fund.
 
Percentage: Approximately 5.2%
 
 
(b)
1. Sole power to vote or direct vote: 3,902,003
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,902,003
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
TP-One has not entered into any transaction in the Shares during the past sixty (60) days.  The transactions in the Shares on behalf of AOF Fund during the past sixty (60) days are set forth in Schedule A and are incorporated herein by reference.
 
C.
AOF Management
 
 
(a)
AOF Management, as the investment adviser of AOF Fund, may be deemed the beneficial owner of the 3,902,003 Shares owned by AOF Fund.
 
Percentage: Approximately 5.2%
 
 
(b)
1. Sole power to vote or direct vote: 3,902,003
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,902,003
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
AOF Management has not entered into any transaction in the Shares during the past sixty (60) days.  The transactions in the Shares on behalf of AOF Fund during the past sixty (60) days are set forth in Schedule A and are incorporated herein by reference.
 
D.
Messrs. Pretlow and Terk
 
 
(a)
Each of Messrs. Pretlow and Terk, as a managing member of each of TP-One and AOF Management, may be deemed the beneficial owner of the 3,902,003 Shares owned by AOF Fund.
 
Percentage: Approximately 5.2%
 
 
9

 
CUSIP NO. 172406100
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 3,902,003
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 3,902,003

 
(c)
Neither Mr. Pretlow nor Mr. Terk has entered into any transaction in the Shares during the past sixty (60) days.  The transactions in the Shares on behalf of AOF Fund during the past sixty (60) days are set forth in Schedule A and are incorporated herein by reference.
 
The Reporting Persons, as members of a “group” for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Person.  Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
 
 
(d)
No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
 
 
(e)
Not applicable.
 
Item 6.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.  
 
On July 10, 2015 the Reporting Persons entered into a Joint Filing Agreement pursuant to which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law.  The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between any Reporting Person or the Reporting Persons and any other person, with respect to the securities of the Issuer.
 
Item 7.
Material to be Filed as Exhibits.
 
 
99.1
Joint Filing Agreement by and among Active Owners Fund LP, TP-One Holdings LLC, AOF Management LLC, Joseph Pretlow and Ben Terk, dated July 10, 2015.
 
 
10

 
CUSIP NO. 172406100
 
SIGNATURES
 
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
Dated:  July 10, 2015

 
Active Owners Fund LP
   
 
By:
TP-One Holdings LLC
General Partner
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
TP-One Holdings LLC
   
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
AOF Management LLC
   
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
/s/ Joseph Pretlow
 
JOSEPH PRETLOW


 
/s/ Ben Terk
 
BEN TERK
 
 
11

 
CUSIP NO. 172406100
 
SCHEDULE A
 
Transactions in the Shares During the Past Sixty (60) Days
 
Shares of Class A Common Stock
Purchased / (Sold)
Price Per
Share($)
Date of
Purchase / Sale

ACTIVE OWNERS FUND LP

110,000
0.8802
05/26/2015
219,900
0.8742
05/27/2015
200,000
0.8674
05/28/2015
376,286
0.8772
05/29/2015
179,429
0.8958
06/01/2015
180,000
0.9000
06/02/2015
9,600
0.8777
06/03/2015
49,244
0.8789
06/04/2015
46,476
0.6337
07/09/2015
122,150
0.7073
07/10/2015
EX-99.1 2 ex991to13d10051001_06302015.htm ex991to13d10051001_06302015.htm
Exhibit 99.1
 
JOINT FILING AGREEMENT
 
In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including amendments thereto) with respect to the shares of Class A Common Stock, $0.001 par value per share, of Cinedigm Corp.  This Joint Filing Agreement shall be filed as an Exhibit to such Statement.
 
Dated:  July 10, 2015

 
Active Owners Fund LP
   
 
By:
TP-One Holdings LLC
General Partner
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
TP-One Holdings LLC
   
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
AOF Management LLC
   
   
 
By:
/s/ Joseph Pretlow
   
Name:
Joseph Pretlow
   
Title:
Managing Member


 
/s/ Joseph Pretlow
 
JOSEPH PRETLOW


 
/s/ Ben Terk
 
BEN TERK