0000905718-18-000076.txt : 20180129 0000905718-18-000076.hdr.sgml : 20180129 20180129163419 ACCESSION NUMBER: 0000905718-18-000076 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20180129 DATE AS OF CHANGE: 20180129 GROUP MEMBERS: PARK WEST INVESTORS MASTER FUND, LTD GROUP MEMBERS: PETER S. PARK SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Inspired Entertainment, Inc. CENTRAL INDEX KEY: 0001615063 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 471025534 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-88381 FILM NUMBER: 18555932 BUSINESS ADDRESS: STREET 1: 250 WEST 57TH STREET, 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10107 BUSINESS PHONE: (646) 565-3861 MAIL ADDRESS: STREET 1: 250 WEST 57TH STREET, 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10107 FORMER COMPANY: FORMER CONFORMED NAME: Hydra Industries Acquisition Corp. DATE OF NAME CHANGE: 20140728 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Park West Asset Management LLC CENTRAL INDEX KEY: 0001386928 IRS NUMBER: 300132084 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165 CITY: LARKSPUR STATE: CA ZIP: 94939 BUSINESS PHONE: (415) 524-2902 MAIL ADDRESS: STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165 CITY: LARKSPUR STATE: CA ZIP: 94939 SC 13G 1 inspiredentert_13gjan182018.htm INSPIRED ENTERTAINMENT, INC.

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

(Amendment No.    )*

 

 

INSPIRED ENTERTAINMENT, INC.

(Name of Issuer)

 

COMMON STOCK, $0.0001 par value per share

(Title of Class of Securities)

45782N108

(CUSIP Number)

 

January 18, 2018

(Date of Event Which Requires Filing of this Statement)

 

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule 13G 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 the disclosures provided in a prior cover page.

 

The information required in 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.  45782N108
(1) Names of Reporting Persons
  Park West Asset Management LLC  
(2) Check the Appropriate Box if a Member of a Group (a) [    ]  
  (b) [    ]  
     
(3) SEC Use Only
(4) Citizenship or Place of Organization
  Delaware  
Number of Shares Beneficially Owned By Each Reporting Person With
  (5) Sole Voting Power: 0    
  (6) Shared Voting Power: 2,000,000*  
  (7) Sole Dispositive Power: 0    
  (8) Shared Dispositive Power: 2,000,000*  
       
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
  2,000,000*  
(10) Check if the Aggregate Amount  in Row (9) Excludes Certain Shares (See Instructions):
  [    ]  
(11) Percent of Class Represented by Amount in Row (9)
  9.3%*  
(12) Type of Reporting Person
  IA  
               

 * Beneficial ownership percentage is based upon 21,478,775 shares of Common Stock, $0.0001 par value per share (the “Common Stock”), of Inspired Entertainment, Inc., a Delaware corporation (the “Company”), issued and outstanding as of January 16, 2018, based on information reported by the Company in its Prospectus Supplement on Form 424(b)(4) filed with the Securities and Exchange Commission on January 19, 2018. Park West Asset Management LLC (“PWAM”) is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”) and Park West Partners International, Limited, a Cayman Islands exempted company (“PWPI” and, collectively with PWIMF, the “PW Funds”). Peter S. Park (“Mr. Park” and, collectively with PWAM and PWIMF, the “Reporting Persons”) is the sole member and manager of PWAM. As of January 18, 2018, PWIMF held 1,782,354 shares of Common Stock and PWPI held 217,646 shares of Common Stock. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, PWAM and Mr. Park may be deemed to beneficially own the 2,000,000 shares of Common Stock, or approximately 9.3% of the shares of Common Stock of the Company deemed issued and outstanding as of January 18, 2018, and PWIMF is deemed to beneficially own 1,782,354 shares of Common Stock, or approximately 8.3% of the shares of Common Stock deemed issued and outstanding as of January 18, 2018. 

 
 

 

CUSIP No.  45782N108
(1) Names of Reporting Persons
  Park West Investors Master Fund, Limited  
(2) Check the Appropriate Box if a Member of a Group (a) [    ]  
  (b) [    ]  
     
(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: 1,782,354*  
  (7) Sole Dispositive Power: 0    
  (8) Shared Dispositive Power: 1,782,354*  
       
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
  1,782,354*  
(10) Check if the Aggregate Amount  in Row (9) Excludes Certain Shares (See Instructions):
  [    ]  
(11) Percent of Class Represented by Amount in Row (9)
  8.3%*  
(12) Type of Reporting Person
  CO  
               

  * Beneficial ownership percentage is based upon 21,478,775 shares of Common Stock of the Company, issued and outstanding as of January 16, 2018, based on information reported by the Company in its Prospectus Supplement on Form 424(b)(4) filed with the Securities and Exchange Commission on January 19, 2018. As of January 18, 2018, PWIMF beneficially owned 1,782,354 shares of Common Stock, or approximately 8.3% of the shares of Common Stock deemed issued and outstanding as of January 18, 2018.

 

 
 

 

CUSIP No.  45782N108
(1) Names of Reporting Persons
  Peter S. Park  
(2) Check the Appropriate Box if a Member of a Group (a) [    ]  
  (b) [    ]  
     
(3) SEC Use Only
(4) Citizenship or Place of Organization
  United States of America  
Number of Shares Beneficially Owned By Each Reporting Person With
  (5) Sole Voting Power: 0    
  (6) Shared Voting Power: 2,000,000*  
  (7) Sole Dispositive Power: 0    
  (8) Shared Dispositive Power: 2,000,000*  
       
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
  2,000,000*  
(10) Check if the Aggregate Amount  in Row (9) Excludes Certain Shares (See Instructions):
  [    ]  
(11) Percent of Class Represented by Amount in Row (9)
  9.3%*  
(12) Type of Reporting Person
  IN  
               

* Beneficial ownership percentage is based upon 21,478,775 shares of Common Stock of the Company, issued and outstanding as of January 16, 2018, based on information reported by the Company in its Prospectus Supplement on Form 424(b)(4) filed with the Securities and Exchange Commission on January 19, 2018. PWAM is the investment manager to the PW Funds, and Mr. Park is the sole member and manager of PWAM. As of January 18, 2018, PWIMF held 1,782,354 shares of Common Stock and PWPI held 217,646 shares of Common Stock. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, Mr. Park may be deemed to beneficially own the 2,000,000 shares of Common Stock held in the aggregate by the PW Funds for an aggregate beneficial ownership percentage of approximately 9.3% of the shares of Common Stock deemed issued and outstanding as of January 18, 2018. 

 
 

 

 


Item 1(a).  Name Of Issuer:  Inspired Entertainment, Inc. (the “Company”)
   
Item 1(b).  Address of Issuer’s Principal Executive Offices.
 

250 West 57th Street, Suite 2223
New York, NY 10107 

 

Item 2(a).  Name of Person Filing.
 

This report on Schedule 13G (this “Schedule 13G”), is being jointly filed by (i) Park West Asset Management LLC (“PWAM”), a Delaware limited liability company and the investment manager to (a) Park West Investors Master Fund, Limited (“PWIMF”), a Cayman Islands exempted company that is the holder of 1,782,354 shares of common stock, $0.0001 par value per share (“Common Stock”), of the Company and (b) Park West Partners International, Limited (“PWPI” and, collectively with PWIMF, the “PW Funds”), a Cayman Islands exempted company that is the holder of 217,646 shares of Common Stock; (ii) PWIMF; and (iii) Peter S. Park, as the sole member and manager of PWAM (“Mr. Park” and, collectively with PWAM and PWIMF, the “Reporting Persons”).

 

The 2,000,000 shares of Common Stock of the Company held in the aggregate by the PW Funds, which constitute approximately 9.3% of the shares of Common Stock of the Company deemed issued and outstanding as of January 18, 2018, may be deemed to be beneficially owned (x) indirectly by PWAM, as the investment manager to the PW Funds, and (y) indirectly by Mr. Park, as the managing member of PWAM.

 

Item 2(b).  Address of Principal Business Office or, if None, Residence.
 

The address for each of the Reporting Persons is:

 

c/o Park West Asset Management LLC

900 Larkspur Landing Circle, Suite 165, Larkspur, California 94939.

 

Item 2(c).  Citizenship.
 

PWAM is organized under the laws of the State of Delaware. PWIMF is organized under the laws of the Cayman Islands. Mr. Park is a citizen of the United States.

 

Item 2(d).  Title of Class of Securities.
              Common Stock, $0.0001 par value per share.

  

 

 

Item 2(e).  CUSIP No.
              45782N108

   

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:  
  Not Applicable.  
Item 4.  Ownership. As reported in the cover pages to this report, the ownership information with respect to each of PWAM and Mr. Park is as follows:  
 

 

   
  (a)    Amount Beneficially Owned: 2,000,000*    
  (b)    Percent of Class: 9.3%*    
  (c)    Number of Shares as to which such person has:      
  (i)     sole power to vote or to direct the vote: 0    
  (ii)     shared power to vote or to direct the vote: 2,000,000*  
  (iii)     sole power to dispose or to direct the disposition of: 0    
  (iv)     shared power to dispose or to direct the disposition of: 2,000,000*  
           

  

As reported in the cover pages to this report, the ownership information with respect to PWIMF is as follows:  
         
  (a) Amount Beneficially Owned: 1,782,354*  
         
  (b) Percent of Class: 8.3%*  
         
  (c) Number of Shares as to which the person has:    

 

    (i) sole power to vote or to direct the vote: 0    
           
    (ii) shared power to vote or to direct the vote 1,782,354*  
           
    (iii) sole power to dispose or to direct the disposition of: 0    
           
    (iv) shared power to dispose or to direct the disposition of 1,782,354*  
           

  

  

 

*  This Schedule 13G is being jointly filed by (i) PWAM, a Delaware limited liability company and the investment manager to (a) PWIMF, a Cayman Islands exempted company that is the holder of 1,782,354 shares of Common Stock and (b) PWPI, a Cayman Islands exempted company that is the holder of 217,646 shares of Common Stock; (ii) PWIMF; and (iii) Mr. Park, as the sole member and manager of PWAM. 

 

The 2,000,000 shares of Common Stock held in the aggregate by the PW Funds may be deemed to be beneficially owned (x) indirectly by PWAM, as the investment manager to the PW Funds and (y) indirectly by Mr. Park, as the sole member and manager of PWAM. The foregoing beneficial ownership percentages are based upon 21,478,775 shares of Common Stock of the Company, issued and outstanding as of January 16, 2018, based on information reported by the Company in its Prospectus Supplement on Form 424(b)(4) filed with the Securities and Exchange Commission on January 19, 2018. 

 

           

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:  [   ]
Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.
  Not Applicable.
Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
  Not Applicable.
Item 8.  Identification and Classification of Members of the Group.
  Not Applicable.
Item 9.  Notice of Dissolution of Group.
  Not Applicable.
Item 10.  Certification.
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

 

  January 29, 2017  
     
  PARK WEST ASSET MANAGEMENT LLC  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  

 

  PARK WEST INVESTORS MASTER FUND, LIMITED  
     
  By:    Park West Asset Management LLC, its Investment Manager  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  

 

 

 

      /s/ Peter S. Park  
      Peter S. Park  
         
         

 

Attention: Intentional misstatements or omissions of fact constitute

Federal criminal violations (See 18 U.S.C. 1001)

 

 

 

 
 

 

 

Exhibit Index

 

 

Exhibit
A.  Joint Filing Agreement, dated as of January 29, 2018, by and among Park West Asset Management LLC, Peter S. Park, and Park West Investors Master Fund, Limited

 

 

 

 

Exhibit A

 

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of them of a statement on Schedule 13G (including amendments thereto) with respect to the shares of Common Stock, $0.0001 par value per share, of Inspired Entertainment, Inc., a Delaware corporation, and further agree that this Joint Filing Agreement be included as Exhibit A to such Schedule 13G. In evidence thereof, the undersigned hereby execute this agreement this 29th day of January, 2018.

  

 

     
  PARK WEST ASSET MANAGEMENT LLC  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  

 

 

     
  PARK WEST INVESTORS MASTER FUND, LIMITED  
     
  By:    Park West Asset Management LLC, its Investment Manager  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  
     
     
     
  /s/ Peter S. Park
  Peter S. Park