0001493152-17-001289.txt : 20170210 0001493152-17-001289.hdr.sgml : 20170210 20170210095352 ACCESSION NUMBER: 0001493152-17-001289 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20170210 DATE AS OF CHANGE: 20170210 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AWARE INC /MA/ CENTRAL INDEX KEY: 0001015739 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 042911026 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50139 FILM NUMBER: 17590140 BUSINESS ADDRESS: STREET 1: 40 MIDDLESEX TURNPIKE CITY: BEDFORD STATE: MA ZIP: 01730 BUSINESS PHONE: 6172764000 MAIL ADDRESS: STREET 1: 40 MIDDLESEX TURNPIKE CITY: BEDFORD STATE: MA ZIP: 01730 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DG Capital Management, LLC CENTRAL INDEX KEY: 0001512716 IRS NUMBER: 208404862 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 460 PARK AVENUE STREET 2: 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 646-942-5700 MAIL ADDRESS: STREET 1: 460 PARK AVENUE STREET 2: 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 sch13ga.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

 

Aware, Inc.

 

 

Common Stock

 

(Title of Class of Securities)

 

05453N100

 

(CUSIP Number)

 

December 31, 2016

 

(Date of Event which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

[  ] Rule 13d-1(b)

 

[X] Rule 13d-1(c)

 

[  ] Rule 13d-1(d)

 

 

* 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: 05453N100 

 

1.

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

DG Capital Management, LLC

     

2.

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(see instructions)

(a) [_]

(b) [X]

     

3.

 

SEC USE ONLY

 

     

4.

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware, U.S.A.

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

 

5.   SOLE VOTING POWER
     
    0
     
6.   SHARED VOTING POWER
     
    1,036,848*
     
7.   SOLE DISPOSITIVE POWER
     
    0
     
8.   SHARED DISPOSITIVE POWER
     
    1,036,848*
     
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    1,036,848*
     
10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
    [_]
     
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    4.6%
     
12.   TYPE OF REPORTING PERSON (see instructions)
     
    IA

 

   
  

 

CUSIP: 05453N100 

 

1.

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

DG Value Partners II Master Fund, LP

     

2.

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(see instructions)

(a) [_]

(b) [X]

     

3.

 

SEC USE ONLY

 

     

4.

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Cayman Islands

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

 

5.   SOLE VOTING POWER
     
    0
     
6.   SHARED VOTING POWER
     
    845,571*
     
7.   SOLE DISPOSITIVE POWER
     
    0
     
8.   SHARED DISPOSITIVE POWER
     
    845,571*
     
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    845,571*
     
10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
    [_]
     
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    3.7%
     
12.   TYPE OF REPORTING PERSON (see instructions)
     
    PN

 

   
  

 

CUSIP: 05453N100

 

1.

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Dov Gertzulin

     

2.

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP(see instructions)

(a) [_]

(b) [X]

     

3.

 

SEC USE ONLY

 

4.

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

 

5.   SOLE VOTING POWER
     
    0
     
6.   SHARED VOTING POWER
     
    1,036,848*
     
7.   SOLE DISPOSITIVE POWER
     
    0
     
8.   SHARED DISPOSITIVE POWER
     
    1,036,848*
     
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    1,036,848*
     
10.   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)
    [_]
     
11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    4.6%
     
12.   TYPE OF REPORTING PERSON (see instructions)
     
    IN, HC

 

   
  

 

Item 1.

(a)

Name of Issuer

 

Aware, Inc.

     
 

(b)

Address of Issuer’s Principal Executive Offices

 

40 Middlesex Turnpike

Bedford, Massachusetts 01730

 

Item 2. (a)

Name of Person Filing

 

DG Capital Management, LLC

DG Value Partners II Master Fund, LP

Dov Gertzulin

     
  (b)

Address of the Principal Office or, if none, residence

 

460 Park Avenue, 22nd Floor

New York, NY 10022

     
  (c)

Citizenship

 

    DG Capital Management, LLC - Delaware, U.S.A.
    DG Value Partners II Master Fund, LP - Cayman Islands
    Dov Gertzulin - United States
  (d)

Title of Class of Securities

 

Common Stock

     
  (e) CUSIP: 05453N100

 

   
  

 

Item 3. If This Statement is filed pursuant to §§.240.13d-1(b) or 240.13d-2(b), or (c), check whether the person filing is a:
   
  N/A

  

Item 4. Ownership
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

(a)Amount beneficially owned*:

 

DG Capital Management, LLC: 1,036,848

DG Value Partners II Master Fund, LP: 845,571

Dov Gertzulin: 1,036,848

 

(b)Percent of class:

 

DG Capital Management, LLC: 4.6%

DG Value Partners II Master Fund, LP: 3.7%

Dov Gertzulin: 4.6%

 

(c)Number of shares as to which each person has:

 

    (i)

Sole power to vote or to direct the vote

DG Capital Management, LLC: 0

DG Value Partners II Master Fund, LP: 0

Dov Gertzulin: 0

 

   

 (ii)

Shared power to vote or to direct the vote

DG Capital Management, LLC: 1,036,848

DG Value Partners II Master Fund, LP: 845,571

Dov Gertzulin: 1,036,848

 

   

(iii)

Sole power to dispose or to direct the disposition of

DG Capital Management, LLC: 0

DG Value Partners II Master Fund, LP: 0

Dov Gertzulin: 0

 

   

(iv)

Shared power to dispose or to direct the disposition of

DG Capital Management, LLC: 1,036,848

DG Value Partners II Master Fund, LP: 845,571

Dov Gertzulin: 1,036,848

 

*Shares reported herein are held by private investment funds and separately managed accounts (the “DG Entities”) for which DG Capital Management, LLC serves as the investment manager. Dov Gertzulin serves as the managing member of DG Capital Management, LLC. By virtue of these relationships, the Reporting Persons may be deemed to have shared voting and dispositive power with respect to the Shares owned directly by the DG Entities. This report shall not be deemed an admission that the Reporting Persons are beneficial owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the Reporting Persons disclaims beneficial ownership of the Shares reported herein except to the extent of the Reporting Person’s pecuniary interest therein.

 

The percentages herein are calculated based upon a statement in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 that there were 22,630,021 shares of Common Stock issued and outstanding as of October 21, 2016.

 

   
  

 

Item 5. Ownership of Five Percent or Less of a Class.
   
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ X ].
   

 

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
   
  If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
   
  N/A

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
   
  If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
   
  N/A

 

Item 8. Identification and Classification of Members of the Group.
   
  If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group.
   
  N/A

 

Item 9. Notice of Dissolution of the Group.
   
  Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
   
  N/A

 

Item 10. Certification.
   
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

   
  

 

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: February 10, 2017 DG Capital Management, LLC
 
By: /s/ Dov Gertzulin
  Dov Gertzulin, Managing Member

 

  DG Value Partners II Master Fund, LP
     
  By: /s/ Dov Gertzulin
  Dov Gertzulin, Managing Member of the General Partner, DG Capital Partners II, LLC

 

  Dov Gertzulin
     
  By: /s/ Dov Gertzulin
    Dov Gertzulin, Individually

 

   
  

 

 

EX-1 2 ex1.htm

 

Exhibit 1

 

Joint Filing Statement

 

Statement Pursuant to Rule 13d-1(k)(1)

 

The undersigned hereby consent and agree to file a joint statement on Schedule 13G under the Securities Exchange Act of 1934, as amended, with respect to the Common stock, $.01 par value, of Aware, Inc. beneficially owned by them, together with any or all amendments thereto, when and if appropriate. The parties hereto further consent and agree to file this Joint Filing Statement pursuant to Rule 13d-1(k)(1)(iii) as an exhibit to Schedule 13G, thereby incorporating the same into such Schedule 13G.

 

This Joint Filing Statement may be terminated by any of the undersigned upon written notice or such lesser period of notice as the undersigned may mutually agree.

 

Dated: February 10, 2017 DG Capital Management, LLC
     
  By: /s/ Dov Gertzulin
    Dov Gertzulin, Managing Member

 

  DG Value Partners II Master Fund, LP
     
  By: /s/ Dov Gertzulin
    Dov Gertzulin, Managing Member of the General Partner, DG Capital Partners II, LLC

 

  Dov Gertzulin
     
  By: /s/ Dov Gertzulin
    Dov Gertzulin, Individually