SEC Form SC 13G filed by Community Health Systems Inc.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

(Amendment No. )*

Under the Securities Exchange Act of 1934

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

^* 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).

Community Health Systems, Inc.

4000 Meridian Boulevard, Franklin, Tennessee 37067

This statement is filed by (i) Apollo Accord+ Aggregator A, L.P. (“Accord+”); (ii) Apollo Accord+ Management, L.P. (“Accord+ Management”); (iii) Apollo Credit Strategies Master Fund Ltd. (“Credit Strategies”); (iv) Apollo ST Fund Management LLC (“ST Management”); (v) Apollo ST Operating LP (“ST Operating”); (vi) Apollo ST Capital LLC (“ST Capital”); (vii) ST Management Holdings, LLC (“ST Management Holdings”); (viii) Apollo Credit Strategies Absolute Return Aggregator A, L.P. (“Absolute Return”); (ix) Apollo Credit Strategies Absolute Return Management, L.P. (“Absolute Return Management”); (x) Apollo Credit Strategies Absolute Return Management GP, LLC (“Absolute Return Management GP”); (xi) Apollo Credit Management, LLC (“ACM”); (xii) Apollo Capital Credit Management, LLC (“ACCM”); (xiii) Apollo SA Management, LLC (“SA Management”); (xiv) Apollo PPF Credit Strategies, LLC (“PPF Credit Strategies”); (xv) Apollo PPF Credit Strategies Management, LLC (“PPF Management”); (xvi) Apollo Capital Management, L.P. (“Capital Management”); (xvii) Apollo Capital Management GP, LLC (“Capital Management GP”); (xviii) Apollo Management Holdings, L.P. (“Management Holdings”); and (xix) Apollo Management Holdings GP, LLC (“Management Holdings GP”). The foregoing are collectively referred to herein as the “Reporting Persons.”

Accord+, Credit Strategies, Absolute Return, and PPF Credit Strategies each hold securities of the Issuer.

Accord+ Management serves as the investment manager of Accord+. ST Management serves as the investment manager for Credit Strategies. ST Operating is the sole member of ST Management. The general partner of ST Operating is ST Capital. ST Management Holdings is the sole member of ST Capital. Absolute Return Management serves as the investment manager of Absolute Return. Absolute Return Management GP is the general partner of Absolute Return Management.

ACM provides investment management services for FASF Franklin K2 Alternative Strategies Fund (“FASF-Franklin K2”). ACCM is the sole member of ACM.

SA Management provides investment management services for Franklin Templeton Investment Funds - Franklin K2 Alternative Strategies Fund (“FTIF-Franklin K2”).

PPF Management serves as the investment manager of PPF Credit Strategies.

Capital Management serves as the sole member of ACCM, Absolute Return Management GP, PPF Management, and SA Management, the sole member and manager of ST Management Holdings, the sole limited partner of Accord+ Management, and provides investment management services for K2 Apollo Credit Master Fund Ltd. (“K2 Apollo”). Capital Management GP serves as the general partner of Capital Management. Management Holdings serves as the sole member and manager of Capital Management GP, and Management Holdings GP serves as the general partner of Management Holdings.

The principal office of each of Accord+, Accord+ Management, ST Management, ST Operating, ST Capital, ST Management Holdings, Absolute Return, Absolute Return Management, Absolute Return Management GP, ACM, ACCM, SA Management, PPF Management, Capital Management, Capital Management GP, Management Holdings, and Management Holdings GP is 9 W. 57^th Street, 41^st Floor, New York, New York 10019. The principal office of PPF Credit Strategies is 100 West Putnam Avenue, Greenwich, Connecticut 06830. The principal office of Credit Strategies is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman, KY1-9008, Cayman Islands.

Credit Strategies is an exempted company incorporated in the Cayman Islands with limited liability. Accord+ and Absolute Return are each a Cayman Islands exempted limited partnership. PPF Credit Strategies, ST Management, ST Capital, ST Management Holdings, Absolute Return Management GP, ACM, ACCM, SA Management, PPF Management, Capital Management GP, and Management Holdings GP are each a Delaware limited liability company. ST Operating, Accord+ Management, Absolute Return Management, Capital Management, and Management Holdings are each a Delaware limited partnership.

Common Stock, par value $0.01 per share (the “Common Stock”).

203668108

Not applicable.

Beneficial ownership information of the Common Stock is reported as of November 5, 2024.

Accord+, Credit Strategies, Absolute Return, and PPF Credit Strategies each disclaim beneficial ownership of all shares of Common Stock included in this report other than the shares of Common Stock held of record by such Reporting Person, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose. Accord+ Management, ST Management, ST Operating, ST Capital, ST Management Holdings, Absolute Return Management, Absolute Return Management GP, ACM, ACCM, SA Management, PPF Management, Capital Management, Capital Management GP, Management Holdings and Management Holdings GP, and Messrs. Scott Kleinman, James Zelter and Marc Rowan, the managers, as well as executive officers, of Management Holdings GP, each disclaim beneficial ownership of all shares of Common Stock included in this report, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

The percentages are based on 138,948,058 shares of Common Stock outstanding as of October 18, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed on October 24, 2024.

0 for all Reporting Persons

0 for all Reporting Persons

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: ¨

Not applicable.

Not applicable.

Not applicable.

Not applicable.

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, other than activities solely in connection with a nomination under § 240.14a-11.

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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.

Date: November 13, 2024

EXHIBIT 1

JOINT FILING AGREEMENT

COMMUNITY HEALTH SYSTEMS, INC.

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby confirm the agreement by and among them to the joint filing on behalf of them of the Statement on Schedule 13G and any and all further amendments thereto, with respect to the securities of the above referenced issuer, and that this Agreement be included as an Exhibit to such filing. This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of November 13, 2024.