X0206 3 2016-10-07 0 0001615892 AR CAPITAL ACQUISITION AXAR 0001650781 AXAR CAPITAL MANAGEMENT L.P. 1330 AVENUE OF THE AMERICAS SIXTH FLOOR NEW YORK NY 10019 0 0 1 0 0001673869 Axar GP, LLC 1330 AVENUE OF THE AMERICAS SIXTH FLOOR NEW YORK NY 10019 0 0 1 0 0001673921 Axelrod Andrew 1330 AVENUE OF THE AMERICAS SIXTH FLOOR NEW YORK NY 10019 1 1 1 0 CEO and Executive Chairman Common Stock 7297827 I See Footnote Private Placement Warrants (right to buy) 12.50 Common Stock 6550000 I See Footnote This Form 3 is filed by Axar Capital Management, LP, Axar GP, LLC and Andrew Axelrod with respect to the reported securities held directly by Axar Master Fund, Ltd. Axar Capital Management, LP serves as investment manager to Axar Master Fund, Ltd. Axar GP, LLC is the sole general partner of Axar Capital Management, LP. Mr. Axelrod is the sole member of Axar GP, LLC and is the managing partner, portfolio manager and majority control person of Axar Capital Management, LP. Each of Axar Capital Management, LP, Axar GP, LLC and Mr. Axelrod disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interests therein. The warrants will become exercisable 30 days after the completion of the Issuer's initial business combination. The warrants will expire five years after the date on which they first became exercisable, at 5:00 p.m., New York time, or earlier upon redemption or liquidation. AXAR CAPITAL MANAGEMENT, LP By: Axar GP LLC, its general partner, By: /s/ Andrew Axelrod, its Sole Member 2016-10-12 AXAR GP LLC By: /s/ Andrew Axelrod, its Sole Member 2016-10-12 /s/ Andrew Axelrod 2016-10-12