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    SEC Form SC 13G/A filed by BurgerFi International Inc. (Amendment)

    2/14/23 1:55:38 PM ET
    $BFI
    Restaurants
    Consumer Discretionary
    Get the next $BFI alert in real time by email
    SC 13G/A 1 schedule13g.htm
     
    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
     
     



    SCHEDULE 13G

    Under the Securities Exchange Act of 1934

    (Amendment No. 1)1/


    BURGERFI INTERNATIONAL INC.
    (Name of Issuer)

    Common Stock
    (Title of Class of Securities)


     
    12122L101
     
    (CUSIP Number)

    December 31, 2022
    (Date of Event which Requires Filing of this Statement)


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

    [x]            Rule 13d-1(b)

    [ ]            Rule 13d-1(c)

    [ ]            Rule 13d-1(d)




    1/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).


     
    Names of Reporting Persons.
    I.R.S. Identification Nos. of above persons (entities only)
    Ionic Capital Management LLC
     
     
     
    Check the Appropriate Box if a Member of a Group (See Instructions)
     
     
    (a)            [ ]
     
     
    (b)            [ ]
     
     
    SEC Use Only
     
     
    Citizenship or Place of Organization.
    Delaware
     
     
     
    Number
    of Shares
    Beneficially
    Owned by
    Each
    Reporting
    Person With
     
    5  Sole Voting Power
    -0-
     
     
    6  Shared Voting Power
    1,060,931 shares
    Refer to Item 4 below.
     
    7  Sole Dispositive Power
    -0-
     
    8  Shared Dispositive Power
    1,060,931 shares
    Refer to Item 4 below.
     
    Aggregate Amount Beneficially Owned by Each Reporting Person
    1,060,931 shares
    Refer to Item 4 below.
       
     
    Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)     [ ] N/A
       
     
    Percent of Class Represented by Amount in Row (9)*
    4.6%2
    Refer to Item 4 below.
       
     
    Type of Reporting Person (See Instructions)
    OO - Limited Liability Company
       




    2 The percentages reported in this Schedule 13G are based upon approximately 23,314,163 shares of common stock outstanding comprised of (i) 22,253,232 shares of common stock outstanding (according to the issuer’s Form 10-Q as filed with the Securities and Exchange Commission on November 16, 2022), and (ii) approximately 1,060,931 shares of common stock issuable upon the exercise of warrants beneficially owned by the Reporting Person.
    .



    Item 1.
    (a)
     
    Name of Issuer
     
     
    BurgerFi International Inc.
     
    (b)
     
    Address of Issuer's Principal Executive Offices
     
     
    200 West Cypress Creek Rd., Suite 220
    Fort Lauderdale, FL 33309
     

    Item 2.
    (a)
     
    Name of Person Filing
     
     
    Ionic Capital Management LLC

    (b)
     
    Address of Principal Business Office or, if none, Residence
     
     
    475 Fifth Avenue, 9th Floor, New York, New York 10017
     
    (c)
     
    Place of Organization
     
     
    Delaware
    (d)
     
    Title of Class of Securities
     
     
    Common Stock, Warrants
     
    (e)
     
    CUSIP Number
     
     
    12122L101
     

    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:
    (a)
     
    [ ]
     
    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
     
    (b)
     
    [ ]
     
    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
     
    (c)
     
    [ ]
     
    Insurance Company as defined in Section 3(a)(19) of the Act
     
    (d)
     
    [ ]
     
    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
     
    (e)
     
    [x]
     
    An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
     
    (f)
     
    [ ]
     
    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
     
    (g)
     
    [ ]
     
    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
     
    (h)
     
    [ ]
     
    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
     
    (i)
     
    [ ]
     
    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
     
    (j)
     
    [ ]
     
    Group, in accordance with §240.13d-1(b)(1)(ii)(J).
     
    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**
     
     
    1,060,931 shares
     
    (b)
     
    Percent of Class
     
     
    4.6%2
     
    (c)
     
    Number of shares as to which such person has:
     
     
    (i)
     
    sole power to vote or to direct the vote
     
       
    0 shares

     
    (ii)
     
    shared power to vote or to direct the vote
     
       
    1,060,931 shares
     
     
    (iii)
     
    sole power to dispose or to direct the disposition of
     
       
    0 shares
     
     
    (iv)
     
    shared power to dispose or to direct the disposition of
     
       
    1,060,931 shares
     
    ** Shares reported for Ionic Capital Management LLC reflect shares held of record by investment funds of which Ionic Capital Management LLC is the investment advisor or sub-advisor.  Ionic Capital Management LLC has ultimate voting and investment control over the shares reported herein, but disclaims beneficial ownership of such shares except to the extent of its pecuniary interest therein.

    Item 5.
    Ownership of Five Percent or Less of a Class
    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 [ X ].

    Item 6.
    Ownership of More than Five 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
    Not applicable.

    Item 8.
    Identification and Classification of Members of the Group
    Not applicable.

    Item 9.
    Notice of Dissolution of Group
    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 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.

    February 14, 2023


    IONIC CAPITAL MANAGEMENT LLC

    By:  /s/ Steven Vecchio                        
           Steven Vecchio
           Chief Compliance Officer and Associate General Counsel
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