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    SEC Form SC 13D/A filed by Telesat Corporation (Amendment)

    5/14/24 5:12:32 PM ET
    $TSAT
    Metal Fabrications
    Industrials
    Get the next $TSAT alert in real time by email
    SC 13D/A 1 d810571dsc13da.htm SC 13D/A SC 13D/A
    Table of Contents

     

     

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

    SCHEDULE 13D

    [RULE 13D-101]

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a) AND

    AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a)

    (Amendment No. 1)*

     

     

     

    Telesat Corporation

    (Name of Issuer)

     

     

     

    Class B Variable Voting Shares, No Par Value Per Share

    (Title of Class of Securities)

     

    879512309

    (CUSIP Number)

     

    Janet Yeung

    MHR Fund Management LLC

    1345 Avenue of the Americas, 42nd Floor

    New York, New York 10105

    (212) 262-0005

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

     

    May 13, 2024

    (Date of Event which Requires Filing of this Statement)

     

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

     

    Continued on following pages

    (Page 1 of 18 Pages)

     

    *   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).

     

     

     


    Table of Contents
    CUSIP No. 879512309     13D     Page  2  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR ADVISORS LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     2,519,410

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     2,519,410

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     2,519,410

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     5.0%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  3  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHRC LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     2,519,410

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     2,519,410

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     2,519,410

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     5.0%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  4  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR INSTITUTIONAL ADVISORS LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS):

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     2,634,891

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     2,634,891

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     2,634,891

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     5.3%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  5  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHRC I LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     2,634,891

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     2,634,891

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     2,634,891

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     5.3%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     PN


    Table of Contents
    CUSIP No. 879512309     13D     Page  6  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR INSTITUTIONAL PARTNERS IIA LP

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     3,779,594

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     3,779,594

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     3,779,594

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     7.6%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     PN


    Table of Contents
    CUSIP No. 879512309     13D     Page  7  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR INSTITUTIONAL ADVISORS II LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     5,279,827

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     5,279,827

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     5,279,827

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     10.6%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  8  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHRC II LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     5,279,827

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     5,279,827

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     5,279,827

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     10.6%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  9  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR INSTITUTIONAL PARTNERS III LP

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     7,600,964

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     7,600,964

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     7,600,964

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     15.2%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     PN


    Table of Contents
    CUSIP No. 879512309     13D     Page  10  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR INSTITUTIONAL ADVISORS III LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     7,600,964

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     7,600,964

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     7,600,964

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     15.2%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO


    Table of Contents
    CUSIP No. 879512309     13D     Page  11  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR FUND MANAGEMENT LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH 

    REPORTING 

    PERSON 

    WITH 

        7    

    SOLE VOTING POWER

     

     18,035,092

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     18,035,092

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     18,035,092

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     36.05%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO

     


    Table of Contents
    CUSIP No. 879512309     13D     Page  12  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MHR HOLDINGS LLC

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     Delaware

    NUMBER OF 

    SHARES 

    BENEFICIALLY 

    OWNED BY 

    EACH

    REPORTING 

    PERSON

    WITH

        7    

    SOLE VOTING POWER

     

     18,035,092

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     18,035,092

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     18,035,092

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     36.05%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     OO

     


    Table of Contents
    CUSIP No. 879512309     13D     Page  13  of 18 Pages

     

     1   

    NAMES OF REPORTING PERSONS

     

    MARK H. RACHESKY, M.D.

     2  

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

    (a) ☐  (b) ☒

     

     3  

    SEC USE ONLY

     

     4  

    SOURCE OF FUNDS (SEE INSTRUCTIONS)

     

     N/A

     5  

    CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)  ☐

     

     6  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

     United States of America

    NUMBER OF 

    SHARES

    BENEFICIALLY 

    OWNED BY

    EACH

    REPORTING 

    PERSON

    WITH

        7    

    SOLE VOTING POWER

     

     18,096,228

        8   

    SHARED VOTING POWER

     

     0

        9   

    SOLE DISPOSITIVE POWER

     

     18,096,228

       10   

    SHARED DISPOSITIVE POWER

     

     0

    11

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

     18,096,228

    12

     

    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)  ☐

     

    13

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

     36.2%

    14

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

     

     IN; HC

     


    Table of Contents

    TABLE OF CONTENTS

     

    Item 4. Purpose of Transaction.

         16  


    Table of Contents
            Page  15  of 18 Pages

     

    Introductory Note

    This statement on Schedule 13D (this “Statement”) amends and supplements, as Amendment No. 1, the Schedule 13D Filed on November 23, 2021 (the “Original Schedule 13D”), and relates to Class B Variable Voting Shares, no par value per share (the “Class B Shares”) of Telesat Corporation, a corporation incorporated under the laws of the Province of British Columbia, Canada (the “Issuer”).


    Table of Contents
            Page  16  of 18 Pages

     

    Item 4. Purpose of Transaction.

    Item 4 is hereby amended to add the following:

    All of the Class B Shares reported on this Statement were acquired for investment purposes. The Reporting Persons intend to review their holdings in the Issuer on a continuing basis and as part of this ongoing review evaluate various alternatives that are or may become available with respect to the Issuer and its securities. Except as otherwise set forth in this Statement, neither the Reporting Persons nor, to the best of their knowledge, any of the other persons identified in response to Item 2 hereof, has any plans or proposals that relate to or would result in the occurrence of any of the transactions described in subparagraphs (b) through (j) of Item 4 of Schedule 13D.

    (a) The Reporting Persons may from time to time and at any time (in accordance with any trading policy of the Issuer or its subsidiaries and affiliates that may then be applicable to the Reporting Persons) in their sole discretion acquire, or cause to be acquired, additional equity or debt securities or other instruments of the Issuer, its subsidiaries or affiliates, or dispose, or cause to be disposed, such equity or debt securities or instruments, in any amount that the Reporting Persons may determine in their sole discretion, through public or private transactions or otherwise. In addition to the foregoing, certain of the Reporting Persons are pursuing various alternatives with respect to the Issuer’s securities in order to create liquidity opportunities for limited partners of certain of such Reporting Persons. Among the alternatives being pursued, such Reporting Persons are considering forming a continuation vehicle or other special purpose vehicle that would continue to be controlled by certain of the Reporting Persons that would enable existing limited partners to achieve liquidity or continue their indirect investment in the Issuer, making an in-kind distribution to certain limited partners of certain of such Reporting Persons, or effecting a public or private transaction. The timing, and whether and how these alternatives can be effected, will depend on transaction and market terms and conditions, as well as legal, regulatory and other factors.

    The Reporting Persons reserve the right to and may, from time to time and at any time, in their sole discretion, formulate and implement other purposes, plans or proposals regarding the Issuer or any of its subsidiaries or affiliates or any of their equity or debt securities or instruments that relate to or would result in the occurrence of any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D as the Reporting Persons may deem advisable in their sole discretion. The information set forth in this Item 4 is subject to change from time to time and at any time, and there can be no assurances that any of the Reporting Persons will or will not take, or cause to be taken, any of the actions described above or any similar actions.


    Table of Contents
            Page  17  of 18 Pages

     

    SIGNATURES

    After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.

     

    Date: May 14, 2024     MHR ADVISORS LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR INSTITUTIONAL ADVISORS LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR INSTITUTIONAL PARTNERS IIA LP
        By:  

    MHR Institutional Advisors II LLC,

    its General Partner

        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR INSTITUTIONAL ADVISORS II LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR INSTITUTIONAL PARTNERS III LP
        By:  

    MHR Institutional Advisors III LLC,

    its General Partner

        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR INSTITUTIONAL ADVISORS III LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory


    Table of Contents
            Page  18  of 18 Pages

     

        MHRC LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHRC I LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHRC II LLC
        By:   /s/ Janet Yeung
        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR FUND MANAGEMENT LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MHR HOLDINGS LLC
        By:  

    /s/ Janet Yeung

        Name:   Janet Yeung
        Title:   Authorized Signatory
        MARK H. RACHESKY, M.D.
        By:  

    /s/ Janet Yeung, Attorney in Fact

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