0001193125-20-004675.txt : 20200109 0001193125-20-004675.hdr.sgml : 20200109 20200109160032 ACCESSION NUMBER: 0001193125-20-004675 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200109 DATE AS OF CHANGE: 20200109 GROUP MEMBERS: PAR CAPITAL MANAGEMENT, INC. GROUP MEMBERS: PAR GROUP II, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PURE CYCLE CORP CENTRAL INDEX KEY: 0000276720 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] IRS NUMBER: 840705083 STATE OF INCORPORATION: CO FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-36739 FILM NUMBER: 20518187 BUSINESS ADDRESS: STREET 1: 34501 E. QUINCY AVE STREET 2: BLDG. 34 CITY: WATKINS STATE: CO ZIP: 80137 BUSINESS PHONE: 3032923456 MAIL ADDRESS: STREET 1: 34501 E. QUINCY AVE STREET 2: BLDG. 34 CITY: WATKINS STATE: CO ZIP: 80137 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PAR INVESTMENT PARTNERS LP CENTRAL INDEX KEY: 0001066867 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: C/O PAR CAPITAL MGT STREET 2: 200 CLARENDON STREET FL 48 CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 6175268964 MAIL ADDRESS: STREET 1: 200 CLARENDON STREET STREET 2: FL 48 CITY: BOSTON STATE: MA ZIP: 02116 SC 13G 1 d836787dsc13g.htm SC 13G SC 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

Pure Cycle Corporation

(Name of Issuer)

Common stock, par value 1⁄3 of $0.01 per share

(Title of Class of Securities)

746228303

(CUSIP Number)

January 7, 2020

(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)

☒ 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. 746228303  

 

  1   

NAMES OF REPORTING PERSONS

 

PAR Investment Partners, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

State of Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

    5    

SOLE VOTING POWER

 

2,307,970

   6   

SHARED VOTING POWER

 

None

   7   

SOLE DISPOSITIVE POWER

 

2,307,970

   8   

SHARED DISPOSITIVE POWER

 

None

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,307,970

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

(SEE INSTRUCTIONS)  ☐

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.7%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

 

CUSIP No. 746228303  

 

  1   

NAMES OF REPORTING PERSONS

 

PAR Group II, L.P.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

State of Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

    5    

SOLE VOTING POWER

 

2,307,970

   6   

SHARED VOTING POWER

 

None

   7   

SOLE DISPOSITIVE POWER

 

2,307,970

   8   

SHARED DISPOSITIVE POWER

 

None

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,307,970

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

(SEE INSTRUCTIONS)  ☐

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.7%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

 

CUSIP No. 746228303  

 

  1   

NAMES OF REPORTING PERSONS

 

PAR Capital Management, Inc.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

State of Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

    5    

SOLE VOTING POWER

 

2,307,970

   6   

SHARED VOTING POWER

 

None

   7   

SOLE DISPOSITIVE POWER

 

2,307,970

   8   

SHARED DISPOSITIVE POWER

 

None

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,307,970

10  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

(SEE INSTRUCTIONS)  ☐

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

9.7%

12  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

CO

 

Item 1(a) Name of issuer.

Pure Cycle Corporation

Item 1(b) Address of issuer’s principal executive offices.

34501 E. Quincy Avenue, Building 34

Watkins, CO 80137

Item 2(a) Name of person filing.

PAR Investment Partners, L.P.

PAR Group II, L.P.

PAR Capital Management, Inc.

Item 2(b) Address or principal business office or, if none, residence.

PAR Capital Management, Inc.

200 Clarendon Street, FL 48

Boston, MA 02116

Item 2(c) Citizenship.

State of Delaware

Item 2(d) Title of class of securities.

Common stock, par value 1⁄3 of $0.01 per share

Item 2(e) CUSIP No.

746228303

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.

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:

Each reporting person: 2,307,970

(b) Percent of Class:

Each reporting person: 9.7%

(c) (1) Number of shares as to which each reporting person has:

(i) sole power to vote or to direct the vote 2,307,970

(ii) shared power to vote or to direct the vote 0

(iii) sole power to dispose or to direct the disposition of 2,307,970

(iv) shared power to dispose or to direct the disposition of 0

Item 5. Ownership of 5 Percent or Less of a Class.

Not applicable

Item 6. Ownership of More than 5 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.

The sole general partner of PAR Investment Partners, L.P. is PAR Group II, L.P. The sole general partner of PAR Group II, L.P., is PAR Capital Management, Inc. Each of PAR Group II, L.P. and PAR Capital Management, Inc. may be deemed to be the beneficial owner of all shares held directly by PAR Investment Partners, L.P.

Item 8. Identification and Classification of Members of the Group.

Not applicable

Item 9. Notice of Dissolution of Group.

Not applicable

Exhibits.

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 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.

 

January 9, 2020      
    PAR INVESTMENT PARTNERS, L.P.
    By:   PAR Group II, L.P.
      its general partner
    By:   PAR Capital Management, Inc.
      its general partner
    By:  

/s/ Steven M. Smith

      Steven M. Smith, Chief Operating Officer
    PAR GROUP II, L.P.
    By:   PAR Capital Management, Inc.
      its general partner
    By:  

/s/ Steven M. Smith

      Steven M. Smith, Chief Operating Officer
    PAR CAPITAL MANAGEMENT, INC.
    By:  

/s/ Steven M. Smith

      Steven M. Smith, Chief Operating Officer