0001019056-21-000582.txt : 20211112 0001019056-21-000582.hdr.sgml : 20211112 20211112090059 ACCESSION NUMBER: 0001019056-21-000582 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20211110 FILED AS OF DATE: 20211112 DATE AS OF CHANGE: 20211112 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Juniper Investment Company, LLC CENTRAL INDEX KEY: 0001794034 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-51371 FILM NUMBER: 211400234 BUSINESS ADDRESS: STREET 1: 555 MADISON AVENUE STREET 2: 24TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022-3315 BUSINESS PHONE: (212) 339-8500 MAIL ADDRESS: STREET 1: 555 MADISON AVENUE STREET 2: 24TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022-3315 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LINCOLN EDUCATIONAL SERVICES CORP CENTRAL INDEX KEY: 0001286613 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 571150621 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 14 SYLVAN WAY STREET 2: SUITE A CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-736-9340 MAIL ADDRESS: STREET 1: 14 SYLVAN WAY STREET 2: SUITE A CITY: PARSIPPANY STATE: NJ ZIP: 07054 4 1 ownership.xml X0306 4 2021-11-10 0 0001286613 LINCOLN EDUCATIONAL SERVICES CORP LINC 0001794034 Juniper Investment Company, LLC 555 MADISON AVENUE 24TH FLOOR NEW YORK NY 10022 0 0 1 0 Common Stock, no par value per share 2021-11-10 4 P 0 14000 7.29 A 14000 I Juniper Multi-Strategy Fund, L.P. Common Stock, no par value per share 563274 I Juniper Targeted Opportunity Fund, L.P. Series A Convertible Preferred Stock Common Stock 4745765 11200 I See footnotes The reported price is a weighted average price. The shares were purchased on November 10, 2021 in multiple transactions on the open market at prices ranging from $7.20 to $7.30. The reporting person, Juniper Investment Company, LLC ("Juniper") undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Juniper, the reporting person, serves as the investment manager of Juniper Multi-Strategy Fund, L.P. ("Juniper Multi-Strategy Fund") and may be deemed to beneficially own the securities held by Juniper Multi-Strategy Fund. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of the reporting person's pecuniary interest therein. Juniper, the reporting person, serves as the investment manager of Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund") and may be deemed to beneficially own the securities held by Juniper Fund. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of the reporting person's pecuniary interest therein. Represents an aggregate of 11,200 shares of the Issuer's Series A Convertible Preferred Stock ("Series A Preferred") of which Juniper Fund and Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities") hold 3,500 shares and 7,700 shares, respectively. The Series A Preferred is convertible into the Issuer's Common Stock on a 423.729-for-one basis (when issued and such conversion ratio is subject to increase in the event that dividends on Series A shares are not paid in cash). Series A is convertible at any time at the holder's election and has no expiration date. Beginning on November 14, 2022, the holder may be required by the Issuer to convert the Series A into Common Stock upon satisfaction of certain requirements. (Footnote 4 continued). Juniper, the reporting person, serves as the investment manager of Juniper Fund and Juniper Targeted Opportunities and may be deemed to beneficially own the securities held by them. The reporting person disclaims beneficial ownership of all interests reported herein except to the extent of its pecuniary interest therein. Juniper Investment Company, LLC, By: /s/ John A. Bartholdson, its Managing Member 2021-11-11