SC 13D/A 1 sc13da412782002_10202020.htm AMENDMENT NO. 4 TO THE SCHEDULE 13D

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. 4)1

Ashford Hospitality Trust, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

044103109

(CUSIP Number)

CHRISTOPHER SWANN

CYGNUS CAPITAL, INC.

3060 Peachtree Road NW, Suite 1080

Atlanta, Georgia 30305

(404) 465-3685

 

STEVE WOLOSKY, ESQ.,

ELIZABETH GONZALEZ- SUSSMAN, ESQ.,

OLSHAN FROME WOLOSKY LLP

1325 Avenue of the Americas

New York, New York 10019

(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

October 16, 2020

(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. 044103109

  1   NAME OF REPORTING PERSON  
         
        Cygnus Opportunity Fund, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         535,000  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          535,000  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        535,000  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        4.1%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

2

CUSIP No. 044103109

  1   NAME OF REPORTING PERSON  
         
        Cygnus Property Fund IV, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         20,000  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          20,000  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        20,000  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        Less than 1%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

3

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Cygnus Property Fund V, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         212,505  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          212,505  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        212,505  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        1.6%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

4

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Cygnus Capital Advisers, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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  
         
        Wyoming  
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         535,000  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          535,000  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        535,000  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        4.1%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

5

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Cygnus General Partners, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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  
         
        Wyoming  
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         535,000  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          535,000  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        535,000  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        4.1%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

6

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Cygnus Capital Real Estate Advisors II, LLC  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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  
         
        Wyoming  
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         232,505  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          232,505  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        232,505  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        1.8%  
  14   TYPE OF REPORTING PERSON  
         
        OO  

  

7

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Cygnus Capital, Inc.  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  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  
         
        Wyoming  
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         770,505  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          770,505  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        770,505  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        5.9%  
  14   TYPE OF REPORTING PERSON  
         
        CO  

  

8

CUSIP No. 044103109

 

  1   NAME OF REPORTING PERSON  
         
        Christopher Swann  
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  3   SEC USE ONLY    
           
           
  4   SOURCE OF FUNDS  
         
        AF, PF  
  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   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY         - 0 -  
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING         1,214,630 (1)  
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
          - 0 -  
    10   SHARED DISPOSITIVE POWER  
           
          1,214,630 (1)  
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
        1,214,630 (1)  
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
        9.3%  
  14   TYPE OF REPORTING PERSON  
         
        IN  

  

(1) Includes 70,000 Shares (as defined in Item 1) underlying certain call options.

9

CUSIP No. 044103109

The following constitutes Amendment No. 4 to the Schedule 13D filed by the undersigned (“Amendment No. 4”). This Amendment No. 4 amends the Schedule 13D as specifically set forth herein.

 

Item 3.Source and Amount of Funds or Other Consideration.

Item 3 is hereby amended and restated to read as follows:

The Shares purchased by each of Cygnus Opportunity, Cygnus IV and Cygnus V 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. The aggregate purchase price of the 535,000 Shares beneficially owned by Cygnus Opportunity is approximately $1,803,437, including brokerage commissions. The aggregate purchase price of the 20,000 Shares beneficially owned by Cygnus IV is approximately $41,331, including brokerage commissions. The aggregate purchase price of the 212,505 Shares beneficially owned by Cygnus V is approximately $576,713, including brokerage commissions.

The Shares purchased by Mr. Swann personally, including Shares held in an IRA Account in Mr. Swann’s name, and held by members of his immediate family, which Mr. Swann is deemed to beneficially own, were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases. The aggregate purchase price of the 213,000 Shares, including 115,000 Shares held in an IRA account in Mr. Swann’s name, beneficially owned directly by Mr. Swann is approximately $600,412, including brokerage commissions. The aggregate purchase price of the 234,125 Shares, including 70,000 Shares underlying certain call options, held by members of Mr. Swann’s immediate family, which Mr. Swann is deemed to beneficially own, is $534,630, including brokerage commissions.

Item 5.Interest in Securities of the Issuer.

Items 5(a) – (c) are hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 13,058,909 Shares outstanding as of September 4, 2020, which is the total number of Shares outstanding as reported in the Issuer’s Proxy Statement on DEF 14A filed with the Securities and Exchange Commission on September 10, 2020.

A.Cygnus Opportunity
(a)As of the close of business on October 20, 2020, Cygnus Opportunity beneficially owned directly 535,000 Shares.

Percentage: Approximately 4.1%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 535,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 535,000
(c)The transactions in the Shares by Cygnus Opportunity since the filing of Amendment No. 3 to the Schedule 13D is set forth on Schedule B and incorporated herein by reference.
10

CUSIP No. 044103109

B.Cygnus IV
(a)As of the close of business on October 20, 2020, Cygnus IV beneficially owned directly 20,000 Shares.

Percentage: Less than 1%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 20,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 20,000
(c)The transactions in the Shares by Cygnus IV since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
C.Cygnus V
(a)As of the close of business on October 20, 2020, Cygnus V beneficially owned directly 212,505 Shares.

Percentage: Approximately 1.6%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 212,505
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 212,505
(c)The transactions in the Shares by Cygnus V since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
D.Cygnus Capital
(a)As the investment adviser of Cygnus Opportunity, Cygnus Capital may be deemed to beneficially own the 535,000 Shares owned by Cygnus Opportunity.

Percentage: Approximately 4.1%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 535,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 535,000
(c)Cygnus Capital has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D. The transactions in the Shares on behalf of Cygnus Opportunity since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
11

CUSIP No. 044103109

E.Cygnus GP
(a)As the general partner of Cygnus Opportunity, Cygnus GP may be deemed to beneficially own the 535,000 Shares owned by Cygnus Opportunity.

Percentage: Approximately 4.1%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 535,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 535,000
(c)Cygnus GP has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D. The transaction in the Shares on behalf of Cygnus Opportunity since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
F.Cygnus Property GP
(a)As the general partner and investment adviser of each of Cygnus IV and Cygnus V, Cygnus Property GP may be deemed to beneficially own the (i) 20,000 Shares owned by Cygnus IV, and (ii) 212,505 Shares owned by Cygnus V.

Percentage: Approximately 1.8%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 232,505
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 232,505
(c)Cygnus Property GP has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D. The transactions in the Shares on behalf of each of Cygnus IV and Cygnus V since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
G.Cygnus
(a)As the managing member of each of Cygnus Capital, Cygnus GP and Cygnus Property GP, Cygnus may be deemed to beneficially own the (i) 535,000 Shares owned by Cygnus Opportunity, (ii) 20,000 Shares owned by Cygnus IV, and (iii) 212,505 Shares owned by Cygnus V.

Percentage: Approximately 9.3%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 770,505
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 770,505
(c)Cygnus has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D. The transactions in the Shares on behalf of each of Cygnus Opportunity, Cygnus IV and Cygnus V since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.
12

CUSIP No. 044103109

H.Mr. Swann
(a)As of the date hereof, Mr. Swann beneficially owned directly 213,000, including 115,000 shares held in an IRA account in his name, and may be deemed to beneficially own the 234,125 Shares held by members of his immediate family, including 70,000 Shares underlying certain call options that are currently exercisable. As the President and CEO of Cygnus, Mr. Swann may be deemed to beneficially own the (i) 535,000 Shares owned by Cygnus Opportunity, (ii) 20,000 Shares owned by Cygnus IV, and (iii) 212,505 Shares owned by Cygnus V.

Percentage: Approximately 9.3%

(b)1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 1,214,630
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 1,214,630
(c)The transactions in the Shares by Mr. Swann personally and on behalf of members of his immediate family since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule A and incorporated herein by reference. The transactions in the Shares on behalf of each of Cygnus Opportunity, Cygnus IV and Cygnus V since the filing of Amendment No. 3 to the Schedule 13D are set forth on Schedule B and incorporated herein by reference.

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

Item 6.Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Item 6 is hereby amended to add the following:

As of October, 2020, the Reporting Persons owned in the aggregate 64,189 shares of the Issuer’s Series D Preferred Stock, 139,864 shares of the Issuer’s Series F Preferred Stock, 167,361 shares of the Issuer’s Series G Preferred Stock, 213,313 shares of the Issuer’s Series H Preferred Stock, and 162,216 shares of the Issuer’s Series I Preferred Stock.

13

CUSIP No. 044103109

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: October 20, 2020

  Cygnus Opportunity Fund, LLC
   
  By: Cygnus General Partners, LLC, its general partner
     
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

  Cygnus Property Fund IV, LLC
   
  By: Cygnus Capital Real Estate Advisors II, LLC, its general partner
     
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

  Cygnus Property Fund V, LLC
   
  By: Cygnus Capital Real Estate Advisors II, LLC, its general partner
     
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

14

CUSIP No. 044103109

  Cygnus Capital Advisers, LLC
   
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

  Cygnus General Partners, LLC
   
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

  Cygnus Capital Real Estate Advisors II, LLC
   
  By: Cygnus Capital, Inc., its managing member
     
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 
  Cygnus Capital, Inc.
   
    /s/ Christopher Swann
    Name: Christopher Swann
    Title: President and CEO

 

 

   
  /s/ Christopher Swann
  Christopher Swann

 

15

CUSIP No. 044103109

SCHEDULE B

 

Transactions in the Shares of the Issuer Since the Filing of
Amendment No. 3 to the Schedule 13D

 

Nature of Transaction Amount of Securities
Purchased/(Sold)
Price per Share ($) Date of
Purchase

 

Cygnus Opportunity Fund, LLC

Purchase of Common Stock 2,100 1.7100 10/02/2020
Purchase of Common Stock 3,720 1.7100 10/02/2020
Purchase of Common Stock 5,000 1.6242 10/06/2020
Purchase of Common Stock 10,000 1.4385 10/14/2020
Purchase of Common Stock 10,000 1.3867 10/15/2020
Purchase of Common Stock 10,000 1.3750 10/16/2020

 

Cygnus Property Fund IV, LLC

Purchase of Common Stock 9,405 1.7090 10/02/2020

 

Cygnus Property Fund V, LLC

Purchase of Common Stock 5,000 1.6669 09/30/2020
Purchase of Common Stock 1,000 1.6400 09/30/2020
Purchase of Common Stock 9,299 1.6990 10/01/2020
Purchase of Common Stock 701 1.7100 10/01/2020
Purchase of Common Stock 20,000 1.6610 10/01/2020
Purchase of Common Stock 2,000 1.7700 10/05/2020
Purchase of Common Stock 100 1.6500 10/06/2020
Purchase of Common Stock 400 1.6450 10/06/2020
Purchase of Common Stock 1,000 1.6542 10/06/2020
Purchase of Common Stock 5,000 1.4583 10/07/2020
Purchase of Common Stock 3,100 1.4666 10/07/2020
Purchase of Common Stock 500 1.5320 10/07/2020

 

Christopher Swann

Purchase of Common Stock 4,000 1.6500 10/02/2020
Purchase of Common Stock 1,264 1.5400 10/09/2020
Purchase of Common Stock 236 1.5400 10/09/2020
Purchase of Common Stock 7,500 1.5300 10/09/2020
Purchase of Common Stock 5,000 1.5300 10/09/2020
Purchase of Common Stock 2,200 1.5600 10/09/2020
Purchase of Common Stock 1,700 1.5700 10/09/2020
Purchase of Common Stock 100 1.5700 10/09/2020
Purchase of Common Stock 6,000 1.5700 10/09/2020