jmpllc20180516_sc13da.htm

0001437749-18-010144.txt : 20180516 0001437749-18-010144.hdr.sgml : 20180516 20180516170100 ACCESSION NUMBER: 0001437749-18-010144 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20180516 DATE AS OF CHANGE: 20180516 GROUP MEMBERS: JMP INVESTMENT HOLDINGS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Harvest Capital Credit Corp CENTRAL INDEX KEY: 0001559909 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87717 FILM NUMBER: 18840675 BUSINESS ADDRESS: STREET 1: 767 THIRD AVENUE STREET 2: 25TH FLOOR CITY: New York STATE: NY ZIP: 10017 BUSINESS PHONE: 212-906-3500 MAIL ADDRESS: STREET 1: 767 THIRD AVENUE STREET 2: 25TH FLOOR CITY: New York STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JMP GROUP LLC CENTRAL INDEX KEY: 0001302350 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 600 MONTGOMERY STREET STREET 2: SUITE 1100 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4158358900 MAIL ADDRESS: STREET 1: 600 MONTGOMERY STREET STREET 2: SUITE 1100 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 SC 13D/A 1 jmpllc20180516_sc13da.htm SCHEDULE 13D/A jmpllc20180516_sc13da.htm

	UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

________________________

	SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)

HARVEST CAPITAL CREDIT CORPORATION

(Name of Issuer)

Common Stock

(Title of Class of Securities)

41753F109

(CUSIP Number)

Walter Conroy

Chief Legal Officer

JMP Group LLC

600 Montgomery Street, Suite 1100

San Francisco, California 94111

Telephone No. (415) 835-8900

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

May 10, 2018

(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 Rule 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, as amended (“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).

SCHEDULE 13D

CUSIP No. 41753F109

1	NAMES OF REPORTING PERSONS JMP Group LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) ☐ (b) ☒
3	SEC USE ONLY
4	SOURCE OF FUNDS Not applicable
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 0
	8	SHARED VOTING POWER (1) 990,861
	9	SOLE DISPOSITIVE POWER 0
	10	SHARED DISPOSITIVE POWER (1) 990,861
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON (1) 990,861
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.51%
14	TYPE OF REPORTING PERSON OO

(1)

Consists of 990,861 shares of common stock (“Common Shares”) of Harvest Capital Credit Corporation (the “Issuer”) held directly by JMP Investment Holdings LLC. JMP Investment Holdings LLC is a direct, wholly owned subsidiary of JMP Group LLC. Accordingly, JMP Group LLC may be deemed to share voting and dispositive power over these securities.

CUSIP No. 41753F109

1	NAMES OF REPORTING PERSONS JMP Investment Holdings LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) ☐ (b) ☒
3	SEC USE ONLY
4	SOURCE OF FUNDS OO
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 0
	8	SHARED VOTING POWER 990,861 (1)
	9	SOLE DISPOSITIVE POWER 0
	10	SHARED DISPOSITIVE POWER 990,861 (1)
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 990,861 (1)
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.51%
14	TYPE OF REPORTING PERSON OO

(1)

JMP Investment Holdings LLC is the holder of record of the 990,861 Common Shares of the Issuer reported herein.

SCHEDULE 13D

JMP Group LLC is eligible to report its beneficial ownership of the securities reported herein on Schedule 13G pursuant to the provisions of Rule 13d-1(d) and is voluntarily reporting on this Schedule 13D.

Item 1. Security and Issuer.

This Schedule 13D relates to the common stock (“Common Shares”) of Harvest Capital Credit Corporation (the “Issuer”), a Delaware corporation having its principal executive offices at 767 Third Avenue, 25^th Floor, New York, NY 10017.

Item 2. Identity and Background.

(a) This Schedule 13D is filed by:

(i) JMP Group LLC, a Delaware limited liability company; and

(ii) JMP Investment Holdings LLC, a Delaware limited liability company.

The foregoing persons are hereinafter sometimes collectively referred to as the “Reporting Persons.” All disclosures herein with respect to any Reporting Person are made only by such Reporting Person. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D.

(b) JMP Investment Holdings LLC is a direct, wholly owned subsidiary of JMP Group LLC. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.

(c) JMP Group LLC is a publicly traded limited liability company, and together with its subsidiaries is a full-service investment banking and asset management firm.

(d) The address of the principal business and principal office of each of the Reporting Persons is 600 Montgomery Street, Suite 1100, San Francisco, California 94111.

(e) During the last five years, none of the Reporting Persons nor any other person identified in response to this Item 2 was convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or was 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 or finding any violation with respect to such laws.

(f) Not applicable.

In accordance with the provisions of General Instruction C to Schedule 13D, information concerning the managing members, executive officers, board of directors and each person controlling the Reporting Persons, as applicable (collectively, the “Covered Persons”), required by Item 2 of Schedule 13D is provided on Schedule I and is incorporated by reference herein. To the Reporting Persons’ knowledge, none of the Covered Persons listed on Schedule I as a director or executive officer of such Reporting Person has been, during the last five years, (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) 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 or finding any violation with respect to such laws.

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

After the filing of Amendment No. 4 to Schedule 13D through May 10, 2018, JMP Investment Holdings LLC acquired 63,450 Common Shares in various open market transactions for a total price of $653,301.09 using funds available to it.

On April 3, 2018, JMP Investment Holdings LLC purchased 1,863 Common Shares at an average price of $10.2694 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 4, 2018, JMP Investment Holdings LLC purchased 2,284 Common Shares at an average price of $10.24 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 5, 2018, JMP Investment Holdings LLC purchased 2,073 Common Shares at an average price of $10.2478 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 6, 2018, JMP Investment Holdings LLC purchased 2,284 Common Shares at an average price of $10.2379 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 9, 2018, JMP Investment Holdings LLC purchased 2,482 Common Shares at an average price of $10.3287 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 10, 2018, JMP Investment Holdings LLC purchased 2,253 Common Shares at an average price of $10.3549 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 11, 2018, JMP Investment Holdings LLC purchased 2,482 Common Shares at an average price of $10.4243 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 12, 2018, JMP Investment Holdings LLC purchased 2,482 Common Shares at an average price of $10.4784 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

On April 13, 2018, JMP Investment Holdings LLC purchased 2,482 Common Shares at an average price of $10.4342 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

10.

On April 16, 2018, JMP Investment Holdings LLC purchased 2,400 Common Shares at an average price of $10.4904 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

11.

On April 17, 2018, JMP Investment Holdings LLC purchased 2,400 Common Shares at an average price of $10.52 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

12.

On April 18, 2018, JMP Investment Holdings LLC purchased 2,400 Common Shares at an average price of $10.3917 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

13.

On April 19, 2018, JMP Investment Holdings LLC purchased 2,400 Common Shares at an average price of $10.35 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

14.

On April 20, 2018, JMP Investment Holdings LLC purchased 2,400 Common Shares at an average price of $10.25 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

15.

On April 23, 2018, JMP Investment Holdings LLC purchased 2,500 Common Shares at an average price of $10.3176 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

16.

On April24, 2018, JMP Investment Holdings LLC purchased 2,500 Common Shares at an average price of $10.255 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

17.

On April 25, 2018, JMP Investment Holdings LLC purchased 1,901 Common Shares at an average price of $10.3016 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

18.

On April 26, 2018, JMP Investment Holdings LLC purchased 400 Common Shares at an average price of $10.3 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

19.

On April 27, 2018, JMP Investment Holdings LLC purchased 269 Common Shares at an average price of $ 10.3112 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

20.

On April 30, 2018, JMP Investment Holdings LLC purchased 302 Common Shares at an average price of $10.3096 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

21.

On May 1, 2018, JMP Investment Holdings LLC purchased 1,999 Common Shares at an average price of $10.2238 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

22.

On May 2, 2018, JMP Investment Holdings LLC purchased 3,302 Common Shares at an average price of $10.2101 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

23.

On May 3, 2018, JMP Investment Holdings LLC purchased 214 Common Shares at an average price of $10.1403 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

24.

On May 4, 2018, JMP Investment Holdings LLC purchased 4,307 Common Shares at an average price of $10.2242 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

25.

On May 7, 2018, JMP Investment Holdings LLC purchased 3,918 Common Shares at an average price of $10.2693 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

26.

On May 8, 2018, JMP Investment Holdings LLC purchased 3,918 Common Shares at an average price of $10.2013 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

27.

On May 9, 2018, JMP Investment Holdings LLC purchased 3,000 Common Shares at an average price of $10.1802 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

28.

On May 10, 2018, JMP Investment Holdings LLC purchased 2,235 Common Shares at an average price of $10.0591 per share in open market purchases pursuant to a Rule 10b5-1 trading plan.

Additionally, on May 1, 2018, JMP Investment Holdings LLC purchased 5,658 Common Shares from JMP Securities LLC for an aggregate cash purchase price of $57,937.92. JMP Securities LLC is a wholly owned subsidiary of JMP Holding LLC, which is a wholly owned subsidiary of JMP Group Inc., which is a wholly owned subsidiary of JMP Investment Holdings LLC, which is a wholly owned subsidiary of JMP Group LLC.

Item 4. Purpose of Transaction.

The Reporting Persons acquired the securities reported herein solely for investment purposes.

The Reporting Persons do not have, as of the date of this Schedule 13D, any other plans or proposals that relate to or would result in any of the actions or events specified in clauses (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons may change their plans or proposals in the future. The Reporting Persons reserve the right to acquire additional securities of the Issuer in the open market, in privately negotiated transactions (which may be with the Issuer or with third parties) or otherwise, to dispose of all or a portion of their holdings of securities of the Issuer or to change their intention with respect to any or all of the matters referred to in this Item 4.

Item 5. Interest in Securities of the Issuer.

(a), (b) See cover page for each Reporting Person. JMP Investment Holdings LLC is a direct, wholly owned subsidiary of JMP Group LLC. As a result of its ownership of JMP Investment Holdings LLC, JMP Group LLC may be deemed to control JMP Investment Holdings LLC and may be deemed to share beneficial ownership and voting and dispositive power over the 990,861 Common Shares held by JMP Investment Holdings LLC, representing approximately 15.51% of the outstanding Common Shares.

All percentages reported herein are calculated based upon 6,389,380 Common Shares outstanding as of May 9, 2018, as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on May 10, 2018.

(c) The Reporting Persons have engaged in transactions in Common Shares in the past 60 days only as set forth in numbers 1 through 28 in Item 3 above.

(d) Not applicable.

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

Joseph A. Jolson, the Chairman and Chief Executive Officer of JMP Group LLC, is the Chief Executive Officer and Chairman of the Board of Directors of the Issuer.

JMP Group LLC owns a 51% equity interest in and is the Manager of HCAP Advisors LLC, a Delaware limited liability company (“HCAP Advisors”). HCAP Advisors serves as the Issuer’s investment advisor pursuant to the Investment Advisory and Management Agreement between the Issuer and HCAP Advisors, dated April 29, 2013.

Item 7. Material to be Filed as Exhibits.

Exhibit A: Joint Filing Agreement (filed herewith)

SIGNATURES

After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Date: May 16, 2018

		JMP GROUP LLC

		/s/ Joseph A. Jolson
		Joseph A. Jolson, Chief Executive Officer

		JMP INVESTMENT HOLDINGS LLC

		/s/ Raymond S. Jackson
		Raymond S. Jackson, Chief Financial Officer

SCHEDULE I

DIRECTORS, MANAGERS AND EXECUTIVE OFFICERS

JMP GROUP LLC

Unless otherwise noted, each of these persons is a citizen of the United States and has as his/her business address c/o JMP Group LLC, 600 Montgomery Street, Suite 1100, San Francisco, California, 94111.

Joseph A. Jolson

Principal Occupation: Chairman and Chief Executive Officer

David M. DiPietro