0000899243-19-019257.txt : 20190705 0000899243-19-019257.hdr.sgml : 20190705 20190705192220 ACCESSION NUMBER: 0000899243-19-019257 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190220 FILED AS OF DATE: 20190705 DATE AS OF CHANGE: 20190705 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Feeney Patrick James CENTRAL INDEX KEY: 0001723000 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38322 FILM NUMBER: 19944112 MAIL ADDRESS: STREET 1: 1825 S. GRANT ST. SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: de Silva Richard CENTRAL INDEX KEY: 0001662203 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38322 FILM NUMBER: 19944113 MAIL ADDRESS: STREET 1: 1825 SOUTH GRANT STREET STREET 2: SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lateral Credit Opportunities, LLC CENTRAL INDEX KEY: 0001665168 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38322 FILM NUMBER: 19944114 BUSINESS ADDRESS: STREET 1: 1825 SOUTH GRANT STREET STREET 2: SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 BUSINESS PHONE: 650-396-2210 MAIL ADDRESS: STREET 1: 1825 SOUTH GRANT STREET STREET 2: SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LATERAL INVESTMENT MANAGEMENT, LLC CENTRAL INDEX KEY: 0001665167 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38322 FILM NUMBER: 19944115 BUSINESS ADDRESS: STREET 1: 1825 SOUTH GRANT STREET STREET 2: SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 BUSINESS PHONE: 650-396-2210 MAIL ADDRESS: STREET 1: 1825 SOUTH GRANT STREET STREET 2: SUITE 210 CITY: SAN MATEO STATE: CA ZIP: 94402 FORMER NAME: FORMER CONFORMED NAME: Lateral Global Investors LLC DATE OF NAME CHANGE: 20160127 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: FTE Networks, Inc. CENTRAL INDEX KEY: 0001122063 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 810438093 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 237 WEST 35TH STREET STREET 2: SUITE 806 CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 8778788136 MAIL ADDRESS: STREET 1: 237 WEST 35TH STREET STREET 2: SUITE 806 CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BEACON ENTERPRISE SOLUTIONS GROUP INC DATE OF NAME CHANGE: 20080520 FORMER COMPANY: FORMER CONFORMED NAME: SUNCREST GLOBAL ENERGY CORP DATE OF NAME CHANGE: 20030625 FORMER COMPANY: FORMER CONFORMED NAME: GALAXY SPECIALTIES INC DATE OF NAME CHANGE: 20000816 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2019-02-20 0 0001122063 FTE Networks, Inc. FTNW 0001665167 LATERAL INVESTMENT MANAGEMENT, LLC 400 SOUTH EL CAMINO REAL, SUITE 1100 SAN MATEO CA 94402 0 0 1 0 0001665168 Lateral Credit Opportunities, LLC 400 SOUTH EL CAMINO REAL, SUITE 1100 SAN MATEO CA 94402 0 0 1 0 0001662203 de Silva Richard 400 SOUTH EL CAMINO REAL, SUITE 1100 SAN MATEO CA 94402 0 0 1 0 0001723000 Feeney Patrick James 400 SOUTH EL CAMINO REAL, SUITE 1100 SAN MATEO CA 94402 0 0 1 0 Common Stock 2019-07-02 2019-07-02 4 J 0 1500000 A 4193207 I Held by a fund managed by Lateral Investment Management, LLC Common Stock 2019-02-20 2019-02-20 4 J 0 1005753 A 1426951 I Held by a fund managed by Lateral Investment Management, LLC Common Stock 2019-07-02 2019-07-02 4 J 0 505724 A 2166085 I Held by a fund managed by Lateral Investment Management, LLC Warrant (right to buy) 2018-07-02 4 J 0 3173730 A Common Stock 3173730 3173730 I Held by a fund managed by Lateral Investment Management, LLC On July 2, 2019, the reporting persons named herein (the "Reporting Persons") acquired shares of the Issuer's Common Stock in connection with the extension of credit under that certain Credit Agreement previously described in the Issuer's Current Reports on Form 8-K filed on November 3, 2015, February 15, 2019, and June 14, 2019 (the "Credit Agreement"). On February 20, 2019, Niagara Nominee, L.P., acquired shares of the Issuer's Common Stock in connection with the extension of credit under the Credit Agreement. Following the transactions described in Footnote 1 and 2, the shares reported herein are held by Niagara Nominee L.P. On July 2, 2019, the Reporting Persons acquired warrants to purchase shares of the Issuer's Common Stock in connection with the extension of credit under the Credit Agreement. The warrants have an initial exercise price of $3.00 per share; provided that in the event the super-senior bridge loan under the Credit Agreement has not been paid by October 31, 2019, the exercise price per share of half of the warrants shall be automatically reset to $0.01 and in the event the super-senior bridge loan under the Credit Agreement has not been paid by December 31, 2019, the exercise price per share of the other half of the warrants shall be automatically reset to $0.01. The shares underlying such warrants have not been issued as of the date of this filing. (Continued from Footnote 4) The Issuer also agreed that the aggregate number of shares of the Issuer's common stock issuable upon exercise of the warrants will be automatically adjusted on December 31, 2019 such that that the Reporting Persons will beneficially own, in the aggregate, inclusive of all shares of common stock previously issued, 25% of the outstanding shares of the Issuer's common stock on a fully-diluted basis, subject to certain exceptions. Following the transactions described in Footnotes 1, 2, 4, and 5, the shares and warrants reported herein are held by Lateral U.S. Credit Opportunities Fund, WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC. Lateral Investment Management, LLC is the sole manager of WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC. Lateral Investment Management, LLC has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P. Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P.; and Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Credit Opportunities, LLC. Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Investment Management, LLC. (Continued from Footnote 6) As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Dhamitha Richard de Silva, and Patrick Feeney may be deemed to beneficially own the warrants of Common Stock held by Lateral U.S. Credit Opportunities Fund, WVP Emerging Manager Private Onshore Fund, LLC, Lateral SMA Agent, LLC, and Lateral Juscom Feeder, LLC. The Reporting Persons filing this Form 4 jointly are the following: Lateral Investment Management, LLC; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva; and Patrick Feeney. The address of each of the Reporting Persons is 400 South El Camino Real, Suite 1100, San Mateo, CA 94402. Dhamitha Richard de Silva 2019-07-05