* |
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.
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CUSIP No. 69888T207
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13D
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Page 2 of 7
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1
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NAMES OF REPORTING PERSONS
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Chai Trust Company, LLC
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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☒
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(b)
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☐
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||||
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Illinois
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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0
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8
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SHARED VOTING POWER
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3,348,430
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9
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SOLE DISPOSITIVE POWER
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0
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10
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SHARED DISPOSITIVE POWER
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3,348,430
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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3,348,430
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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5.6% (1)
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO
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(1)
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Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
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CUSIP No. 69888T207
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13D
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Page 3 of 7
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1
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NAMES OF REPORTING PERSONS
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ZELL CREDIT OPPORTUNITIES MASTER FUND, L.P.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
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☒
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(b)
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☐
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||||
3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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0
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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0
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10
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SHARED DISPOSITIVE POWER
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0
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11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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0
|
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|||
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||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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||||
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||||
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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0.0% (1)
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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PN
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(1)
|
Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
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CUSIP No. 69888T207
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13D
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Page 4 of 7
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1
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NAMES OF REPORTING PERSONS
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EGI INVESTORS, L.L.C.
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||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☒
|
||
(b)
|
☐
|
||||
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|
||||
3
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SEC USE ONLY
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|||
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||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
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WC
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|||
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||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
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|
||||
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|
||||
6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0
|
|
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|||
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|
||||
8
|
SHARED VOTING POWER
|
|
|
||
3,348,430
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|
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|||
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|
||||
9
|
SOLE DISPOSITIVE POWER
|
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|
||
0
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
3,348,430
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|
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|||
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|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
3,348,430
|
|
|
|||
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|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
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|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
5.6% (1)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
OO
|
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|
|||
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|
(1)
|
Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
|
CUSIP No. 69888T207
|
13D
|
Page 5 of 7
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ITEM 4. |
Purpose of Transaction.
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ITEM 5. |
Interest in Securities of the Issuer.
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ITEM 7. |
Materials to be Filed as Exhibits
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Exhibit 13: |
Schedule of Transactions, in response to Item 5(c)
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CUSIP No. 69888T207
|
13D
|
Page 6 of 7
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ZELL CREDIT OPPORTUNITIES MASTER FUND, L.P. | |||
By: | Chai Trust Company, LLC, its general partner | ||
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By:
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/s/ Joseph Miron | |
Name: Joseph Miron | |||
Title: Chief Legal Officer | |||
EGI INVESTORS, L.L.C. | |||
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By:
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/s/ Joseph Miron | |
Name: Joseph Miron | |||
Title: Vice President | |||
CUSIP No. 69888T207
|
13D
|
Page 7 of 7
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Name of Account
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Date of
Transaction
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Nature of
Transaction
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Quantity of
Shares
|
Weighted-Average
Price Per Share
|
Master Fund
|
7/22/22
|
Sale
|
113,800
|
$14.8145 (1)
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Master Fund
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7/22/22
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Sale
|
1,200
|
$15.6617 (2)
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Master Fund
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7/25/22
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Sale
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115,000
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$15.3168 (3)
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Master Fund
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7/26/22
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Sale
|
115,000
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$15.2677 (4)
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Master Fund
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7/27/22
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Sale
|
115,000
|
$15.7603 (5)
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Master Fund
|
7/28/22
|
Sale
|
115,000
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$16.0800 (6)
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Master Fund
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7/29/22
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Sale
|
101,398
|
$16.4983 (7)
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2. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.66 to $15.68, inclusive.
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3. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $14.92 to $15.47, inclusive.
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4. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.11 to $15.75, inclusive.
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5. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.37 to $16.01, inclusive.
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6. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.66 to $16.49, inclusive.
|
7. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.17 to $16.75, inclusive.
|