X0306 4 2015-10-19 1 0000911649 SPECIAL DIVERSIFIED OPPORTUNITIES INC. SDOI 0001346543 Becker Drapkin Management, L.P. 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 0 0 1 0 0001451722 BECKER DRAPKIN PARTNERS (QP), L.P. 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 0 0 1 0 0001451721 BECKER DRAPKIN PARTNERS, L.P. 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 0 0 1 0 0001349003 BC Advisors LLC 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 0 0 1 0 0001349005 Becker Steven R 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 1 0 1 0 0001458693 Drapkin Matthew A 500 CRESCENT COURT, SUITE 230 DALLAS TX 75201 0 0 1 0 Common Stock 2015-10-19 4 S 0 5542512 1.20 D 656630 I See Footnotes Common Stock 2015-10-19 4 S 0 723488 1.20 D 85714 I See Footnotes Common Stock 167889 I See Footnotes In a private transaction on October 19, 2015, Becker Drapkin Partners (QP), L.P. ("QP Fund") and Becker Drapkin Partners, L.P. ("LP Fund") sold to B. Riley & Co., LLC an aggregate of 6,266,000 shares of common stock of Special Diversified Opportunities Inc. (the "Issuer"), par value $0.01 per share ("Shares"), at a price of $1.20 per share, the opening price on October 19, 2015. This statement is jointly filed by and on behalf of each of Becker Drapkin Management, L.P. ("BD Management"), QP Fund, LP Fund, BC Advisors, LLC ("BC Advisors"), Steven R. Becker and Matthew A. Drapkin. QP Fund, LP Fund and Mr. Becker are the direct beneficial owners of the securities covered by this statement. BD Management is the general partner of each of QP Fund and LP Fund and may be deemed to beneficially own securities owned by QP Fund and LP Fund. BC Advisors is the general partner of BD Management and may be deemed to beneficially own securities owned by BD Management. Mr. Becker and Mr. Drapkin are the co-managing members of BC Advisors and may be deemed to beneficially own securities owned by BC Advisors. Mr. Becker is a co-managing member of BC Advisors, and each reporting person may be deemed to beneficially own securities owned by Mr. Becker. Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise, the beneficial owner of any securities covered by this statement. Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities. Each reporting person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer. Represents Shares directly beneficially owned by QP Fund. Represents Shares directly beneficially owned by LP Fund. Represents Shares directly beneficially owned by Mr. Becker. Exhibit Index Exhibit 99.1 - Signatures (filed herewith) Exhibit 99.2 - Joint Filer Information (filed herewith) Exhibit 99.3 - Joint Filing Agreement (filed herewith) See Exhibit 99.1 2015-10-21