X0306 4 2017-03-14 0 0001494448 EMERGENT CAPITAL, INC. EMGC 0001341021 Dakos Andrew C/O EMERGENT CAPITAL, INC. 5355 TOWN CENTER ROAD, SUITE 701 BOCA RATON FL 33486 1 0 0 0 8.50% Senior Unsecured Convertible Notes due 2019 6.59 2017-03-14 4 J 0 315100.00 0.00 D 2014-02-21 2019-02-13 Common Stock 47829 980078 I See footnote $6.59 (151.7912 shares of common stock per $1,000 principal amount of notes for notes denominated in $1,000 increments or 0.1517912 shares of common stock per $1.00 principal amount of notes for notes denominated in $1.00 increments), in each case, subject to adjustment in accordance with Article 4 of the indenture governing the 8.50% Senior Unsecured Convertible Notes due 2019 (the "Old Convertible Notes"). At the election of Emergent Capital, Inc., additional Old Convertible Notes were issued in lieu of a cash payment of interest due on the outstanding Old Convertible Notes as of March 14, 2017. 0.1517912 shares of common stock per $1.00 principal amount of notes, subject to adjustment in accordance with Article 4 of the indenture governing the Old Convertible Notes. The notes are held by certain private investment funds. Bulldog Investors, LLC ("BI") has sole voting and investment power with respect to such notes. The reporting person is a principal of BI and of the general partners of each of such investment fund, and is a limited partner in certain such funds. The reporting person disclaims beneficial ownership of these notes except to the extent of his pecuniary interest therein. These totals do not include $3,088,050 aggregate principal amount of outstanding notes that are owned by BI's Special Opportunities Fund since the reporting person has no pecuniary interest therein. The notes are subject to a conversion limitation imposed by Florida State law that voids any conversion of such notes into shares of common stock to the extent the holder would, after such exercise, directly or indirectly own 10% or more of the shares unless such holder has first applied for and obtained regulatory approval from the Florida Office of Insurance Regulation. Christopher O'Reilly, attorney in fact for Andrew Dakos 2017-08-01