SC 13D/A

0001193125-14-263950.txt : 20140709 0001193125-14-263950.hdr.sgml : 20140709 20140709131506 ACCESSION NUMBER: 0001193125-14-263950 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20140709 DATE AS OF CHANGE: 20140709 GROUP MEMBERS: JONATHON R. EVANS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Rand Logistics, Inc. CENTRAL INDEX KEY: 0001294250 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 201195343 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80134 FILM NUMBER: 14966870 BUSINESS ADDRESS: STREET 1: 500 FIFTH AVENUE STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10110 BUSINESS PHONE: 212-644-3450 MAIL ADDRESS: STREET 1: 500 FIFTH AVENUE STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10110 FORMER COMPANY: FORMER CONFORMED NAME: Rand Acquisition CORP DATE OF NAME CHANGE: 20040618 FORMER COMPANY: FORMER CONFORMED NAME: Grand Slam Acquisition CORP DATE OF NAME CHANGE: 20040617 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JWEST, LLC CENTRAL INDEX KEY: 0001567233 IRS NUMBER: 460729465 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 501 CONGRESSIONAL BLVD. CITY: CARMEL STATE: IN ZIP: 46032 BUSINESS PHONE: 317-819-6200 MAIL ADDRESS: STREET 1: 501 CONGRESSIONAL BLVD. CITY: CARMEL STATE: IN ZIP: 46032 SC 13D/A 1 d755552dsc13da.htm SC 13D/A SC 13D/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Rand Logistics, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

752182105

(CUSIP Number)

Jonathan R. Evans

501 Congressional Boulevard, Suite 300

Carmel, IN 46032

(317) 819-6200

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/1/2014

(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. x

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.

*	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. 752182105		13D		Page 2 of 6 Pages


1.	NAMES OF REPORTING PERSONS JWEST, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) ¨ (b) ¨
3.	SEC USE ONLY
4.	SOURCE OF FUNDS (see instructions) OO
5.	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6.	CITIZENSHIP OR PLACE OF ORGANIZATION The reporting person is an Indiana limited liability company.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.	SOLE VOTING POWER 0
		8.	SHARED VOTING POWER 0
		9.	SOLE DISPOSITIVE POWER 1,412,877
		10.	SHARED DISPOSITIVE POWER 0
11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,412,877
12.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) ¨
13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.88%¹
14.	TYPE OF REPORTING PERSON (see instructions) IA

¹	Based on 17,933,859 shares outstanding as of June 11, 2014 as stated in Rand Logistics, Inc.’s Form 10-K for the year ended March 31, 2014.


CUSIP No. 752182105		13D		Page 3 of 6 Pages


1.	NAMES OF REPORTING PERSONS Jonathan R. Evans
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) ¨ (b) ¨
3.	SEC USE ONLY
4.	SOURCE OF FUNDS (see instructions) PF
5.	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6.	CITIZENSHIP OR PLACE OF ORGANIZATION The reporting person is a U.S. citizen.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7.	SOLE VOTING POWER 488,901
		8.	SHARED VOTING POWER
		9.	SOLE DISPOSITIVE POWER
		10.	SHARED DISPOSITIVE POWER
11.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 488,901
12.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) ¨
13.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.73%²
14.	TYPE OF REPORTING PERSON (see instructions) IN

²	Based on 17,933,859 shares outstanding as of June 11, 2014 as stated in Rand Logistics, Inc.’s Form 10-K for the year ended March 31, 2014.


CUSIP No. 752182105		13D		Page 4 of 6 Pages

Item 1.

Security and Issuer.

This statement on Schedule 13D relates to the common stock, $.0001 par value (the “Shares”), of Rand Logistics, Inc. (“Rand”). The address of the principal executive offices of Rand Logistics, Inc. is 500 Fifth Avenue, 50^th Floor, New York, NY 10110.

Item 2.

Identity and Background.

This statement on Schedule 13D is being filed on behalf of JWEST, LLC (“JWEST”), an Indiana limited liability company, and Jonathan R. Evans, a 70% owner of JWEST. The address of JWEST’s principal business and principal office is 501 Congressional Boulevard, Carmel, IN 46032. Mr. Evans’ business address is also 501 Congressional Boulevard, Carmel, IN 46032. JWEST’s principal business is to serve as an investment advisor.

During the last five years, neither JWEST nor Mr. Evans have been convicted in a criminal proceeding.

During the last five years, neither JWEST nor Mr. Evans have been a 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 of finding any violation with respect to such laws.

Item 3.

Source or Amount of Funds or Other Consideration.

JWEST and Mr. Evans used an aggregate of approximately $8,720,560 to purchase the Shares reported as beneficially owned in Item 5. JWEST used approximately $6,082,704 of funds that were provided through the accounts of certain of its investment advisory clients in order to purchase the Shares for such clients. Mr. Evans used approximately $2,637,856 to purchase the Shares owned directly by him.

Item 4.

Purpose of Transaction.

On July 1, 2014, JWEST sent notice to the Executive Chairman of the Board of Directors of Rand (the “Board”) of its intent to nominate Sean O’Connor and Jonathan R. Evans as candidates for election to the Board at Rand’s 2014 Annual Meeting of Stockholders. A copy of the notice is attached as Exhibit 1. Except as set forth in this Item 4, the reporting persons have no present plans or proposals that relate to or that would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D of the Securities Exchange Act of 1934.

Item 5.

Interest in Securities of the Issuer.

(a) JWEST beneficially owns 1,412,877 Shares, which constitutes approximately 7.88% of Rand’s outstanding Shares, based on 17,933,859 Shares outstanding as of June 11, 2014 as stated in Rand’s Form 10-K for the year ended March 31, 2014. Mr. Evans beneficially owns 488,901 Shares, which constitutes approximately 2.73% of Rand’s outstanding Shares, based on 17,933,859 Shares outstanding as of June 11, 2014 as stated in Rand’s Form 10-K for the year ended March 31, 2014.

(b) JWEST has sole dispositive power over 1,412,877 Shares. Mr. Evans has sole voting power over 488,901 Shares.


CUSIP No. 752182105		13D		Page 5 of 6 Pages


Person Effecting the Transaction	Date of Transaction		Amount of Shares		Price/Share		Where/How
Jonathan Evans		6/16/2014		3,000	$	6.03	TD Ameritrade
Jonathan Evans		6/12/2014		3,000	$	6.16	TD Ameritrade
Jonathan Evans		6/11/2014		5,000	$	6.07	TD Ameritrade
Jonathan Evans		6/11/2014		315	$	6.05	TD Ameritrade
Jonathan Evans		6/10/2014		4,000	$	6.09	TD Ameritrade
Jonathan Evans		6/9/2014		3,000	$	6.15	TD Ameritrade
Jonathan Evans		5/30/2014		3,000	$	5.93	TD Ameritrade
Jonathan Evans		5/28/2014		5,000	$	5.82	TD Ameritrade
Jonathan Evans		5/27/2014		7,100	$	5.84	TD Ameritrade
Jonathan Evans		5/22/2014		100	$	5.93	TD Ameritrade
Jonathan Evans		5/22/2014		2,900	$	5.93	TD Ameritrade
Jonathan Evans		5/21/2014		5,000	$	5.90	TD Ameritrade
Jonathan Evans		5/20/2014		4,000	$	5.82	TD Ameritrade
Jonathan Evans		5/19/2014		3,000	$	5.90	TD Ameritrade
Jonathan Evans		5/16/2014		3,500	$	6.07	TD Ameritrade
Jonathan Evans		5/9/2014		500	$	6.44	TD Ameritrade
Jonathan Evans		5/9/2014		5,000	$	6.43	TD Ameritrade
Jonathan Evans		5/9/2014		3,000	$	6.45	TD Ameritrade
Jonathan Evans		5/8/2014		3,000	$	6.39	TD Ameritrade
Jonathan Evans		5/7/2014		3,000	$	6.30	TD Ameritrade
Jonathan Evans		5/6/2014		5,000	$	6.19	TD Ameritrade
Jonathan Evans		5/5/2014		3,110	$	6.10	TD Ameritrade
Jonathan Evans		5/2/2014		10,000	$	5.81	TD Ameritrade

(d) The investment advisory clients of JWEST have the sole right to receive and, subject to the notice, withdrawal and/or termination provisions of such advisory contracts, the sole power to direct the receipt of dividends from, and the proceeds of sale of, any of the Shares beneficially owned by JWEST on behalf of such clients. Except as noted, no such client or partnership has an interest by virtue of such relationship that relates to more than 5% of the Shares.

(e) Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Neither JWEST nor members of JWEST have any contracts, arrangements, understandings or relationships (legal or otherwise) with other persons with respect to securities of Rand other than as described in this Schedule 13D.

Item 7.

Material to Be Filed as Exhibits.

Exhibit 1 – Letter to Executive Chairman of the Board of Directors of Rand Logistics, Inc.


CUSIP No. 752182105		13D		Page 6 of 6 Pages

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.


Dated: July 9, 2014				JWEST, LLC:

				/s/ Jonathan R. Evans
				Jonathan R. Evans
				Chief Information Officer

				/s/ Jonathan R. Evans

EX-1 2 d755552dex1.htm EX-1 EX-1

Exhibit 1

LOGO

July 1, 2014

Via Overnight Delivery

Laurence S. Levy

Executive Chairman

Rand Logistics, Inc.

500 Fifth Avenue

50^t^h Floor

New York, New York 10110

Re: Notice of Intent to Nominate Directors at the Company’s 2014 Annual Meeting of Stockholders

Dear Mr. Levy:

This letter is to advise you that stockholder JWEST LLC hereby notifies Rand Logistics, Inc. (the “Company”) that it is nominating Sean O’Connor and Jonathan R. Evans as nominees for election as directors to the Board of Directors of Rand Logistics, Inc. at the Company’s 2014 Annual Meeting of Stockholders as permitted under the Company’s Second Amended and Restated Bylaws.

In accordance with the Company’s Second Amended and Restated Bylaws, we provide the following information concerning Mr. O’Connor and Mr. Evans.

(a) Name, age, business address and residence address of the nominees:

Sean O’Connor

Age: 53

Business address: 501 Congressional Blvd., Carmel, IN 46033

Residence address: 13056 Crickle Wood Court, Carmel, IN 46033

Jonathan R. Evans:

Age: 45

Business address: 501 Congressional Blvd., Carmel, IN 46033

Residence address: 9707 Castle Wood Cove, Indianapolis, IN 46280

(b) Principal occupation of nominees:

Mr. O’ Connor: Certified Public Accountant

Mr. Evans: Equity Analyst and Chief Investment Officer

501 CONGRESSIONAL BLVD., SUITE 300, CARMEL, INDIANA 46032 | JWESTLLC.net | Office 317.819.6200 | Fax 317.819.0056

Mr. O’Connor beneficially owns 26,690 shares of common stock of the Company.

Mr. Evans beneficially owns 488,901 shares of common stock of the Company.

(d) Information relating to the nominees that is required to be disclosed in solicitations for proxies for election of directors pursuant to the Rules and Regulations of the Securities and Exchange Commission under Section 14 of the Securities Exchange Act of 1934:

Please see the biography of Mr. O’Connor attached to this letter as Exhibit A and the biography of Mr. Evans attached to this letter as Exhibit B.

(e) Information regarding related party transactions between the Company, the nominees, and/or the stockholder:

Other than Mr. O’Connor’s and Mr. Evans’ stock ownership in the Company, neither Mr. O’Connor nor Mr. Evans has any other relationships with the Company. Mr. O’Connor is the managing member of JWEST LLC and holds a 10% interest in JWEST LLC. Mr. O’Connor does not have any voting power or dispositive power over the shares that JWEST LLC beneficially owns in the Company. Mr. Evans is an equity analyst and the Chief Investment Officer of JWEST LLC and owns 70% of JWEST LLC. JWEST LLC beneficially owns 1,412,877 shares of common stock of the Company.

(f) Any actual or potential conflicts of interest:

None of Mr. O’Connor, Mr. Evans, and JWEST LLC are aware of any actual or potential conflicts of interest.

(g) The nominees’ biographical data, current public and private affiliations, employment history and qualifications and status as “independent” under applicable securities laws and/or stock exchange requirements:

Please see the biography of Mr. O’Connor attached to this letter as Exhibit A and the biography of Mr. Evans attached to this letter as Exhibit B. Neither Mr. O’Connor nor M. Evans have any affiliations with public companies. Mr. O’Connor and Mr. Evans qualify as “independent” under applicable securities laws and NASDAQ requirements.

In accordance with the Company’s Second Amended and Restated Bylaws, we provide the following information concerning the stockholder making the nomination:

(a) Name and record address:

JWEST LLC

501 Congressional Blvd., Carmel, IN 46033

(b) Class and number of shares of capital stock of the Company beneficially owned by the stockholder:

JWEST LLC directly owns one share of common stock of the Company, and such share is held in JWEST LLC’s name. JWEST LLC beneficially owns 1,412,877 shares of common stock of the Company.

Other than JWEST LLC’s stock ownership in the Company, JWEST LLC has no other relationships with the Company. Mr. O’Connor is the managing member of JWEST LLC and holds a 10% interest in JWEST LLC. Mr. O’Connor does not have any voting power or dispositive power over the shares that JWEST LLC beneficially owns in the Company. Mr. Evans is an equity analyst and the Chief Investment Officer of JWEST LLC and owns 70% of JWEST LLC.

(d) Any actual or potential conflicts of interest:

None of Mr. O’Connor, Mr. Evans, and JWEST LLC are aware of any actual or potential conflicts of interest.

We agree to make available to the Board of Directors all information reasonably requested in furtherance of the evaluation of this nomination.

The information in this letter and all attachments hereto is as of the date of this hereof. If any information changes, we will notify you of the updated information. This letter and all attachments hereto are submitted in a good faith effort to satisfy the Company’s requirements. Should this letter and/or any attachments hereto be deemed deficient in any way, please contact me at (317) 819-6200 so that any deficiency may be cured.

Sincerely,

LOGO

JWEST, LLC

Jonathan R. Evans, Chief Investment Officer

Exhibit A

Sean O’Connor, CPA:

Experience Highlights

Sean is one of the founding members of Dauby O’Connor & Zaleski, LLC, Certified Public Accountants (“DOZ”) and has been in the practice of public accounting for over 30 years. DOZ started as a two man firm in 1987, and has grown to a nationally-recognized leader in the real estate arena with clients in over 45 states. DOZ currently employs over 150 professional and administrative staff who reside in four states. DOZ’s revenues have increased each year in the 27 year history of the firm. DOZ and affiliated entities owned in part by Sean own, occupy and manage a 60,000 square foot office building in Carmel, Indiana.

Sean is nationally known for his expertise in accounting and tax matters related to the development and management of multifamily housing communities. Sean has extensive consulting experience in the structuring of private real estate entities formed to develop multifamily housing communities and the management of the same. Sean’s role in the development process includes assistance with financial forecasts and projections, securing construction and permanent financing, and investor capital.

Sean is also the Managing Member of JWEST LLC, a Registered Investment Advisor with approximately $135 million under management.

Sean has experience as a management consultant and experience in the management/leadership of a substantial private business enterprise, which are two of the criteria that the Corporate Governance/Nominating Committee seek in director candidates.

Education

B.S., Indiana University – Bloomington, Indiana

Professional Organizations

-Member, Indiana CPA Society

-Member, American Institute of Certified Public Accountants

Exhibit B

Jonathan R. Evans

Jonathan R. Evans graduated from Butler University in 1991 cum laude with a B.S. in Finance. Mr. Evans began his career working as an equity research analyst and portfolio manager with Heartland Capital Management from 1991 to 1993. During his stint at Heartland Capital, Mr. Evans led the Consults team which grew their Merrill Lynch managed portfolio business from zero assets to $1 billion in assets during his two year period with the firm. From 1993 to 1996, Mr. Evans worked as an equity research analyst and portfolio manager at Conseco Capital Management. He spearheaded Conseco’s effort to grow their variable annuity business. During his three plus years at Conseco Capital Management, Mr. Evans and his team grew assets under management from $35 million to over $1 billion. From 1996 to 2006, Mr. Evans worked as an equity research consultant for Friess Associates which is the investment advisor for the Brandywine and Brandywine Blue mutual funds. Jonathan spent 2006 through 2009 with the Fundamental Growth Equity team at Wells Capital Management serving as an equity analyst and the director of research. During Mr. Evans’ tenure at Wells Capital, the team grew assets from just under $10 billion to over $20 billion in assets under management. After the financial crisis in 2008, Mr. Evans believed there were numerous undervalued situations in the financial markets; therefore, he left Wells Capital and joined Edmunds White Partners, LLC hedge fund in 2009. From 2009 to 2012, Mr. Evans’ responsibilities at Edmunds White Partners, LLC included equity analysis, portfolio management and asset gathering. Lastly, in February of 2013 Mr. Evans started JWEST LLC, where he serves as an equity analyst and Chief Investment Officer, currently owning 70% of the firm.

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