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    SEC Form SC 13G/A filed by Williams Industrial Services Group Inc. (Amendment)

    2/14/22 2:25:42 PM ET
    $WLMS
    Military/Government/Technical
    Industrials
    Get the next $WLMS alert in real time by email
    SC 13G/A 1 wlms_13gv3.htm

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

    SCHEDULE 13G/A

    Under the Securities Exchange Act of 1934

     

    (Amendment No.2)*

     

     

    Williams Industrial Services Group Inc.
    (Name of Issuer)
     
    Common Stock, par value $0.01
    (Title of Class of Securities)
     
    96951A104
    (CUSIP Number)
     
    December 31, 2021
    (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)
    o Rule 13d-1(c)
    o 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. 96951A10413G/APage 1 of 7 Pages

     

     

     

     

    1.

     

    NAME OF REPORTING PERSONS

    Catalysis Partners, LLC

     

     

    2.

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

    (SEE INSTRUCTIONS)

    (a)     o

    (b)     o

     

     

    3.

     

    SEC USE ONLY

     

     

    4.

     

     

    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

    1,807,200

     

     

    7.

     

    SOLE DISPOSITIVE POWER

    0

     

     

    8.

     

     

    SHARED DISPOSITIVE POWER

    1,807,200

     

     

    9.

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    1,807,200

     

     

    10.

     

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

    (SEE INSTRUCTIONS)

    o

     

     

    11.

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    7.0% (See Note 1)

     

     

    12.

     

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

    PN

     

           

    (1)Based on 25,912,502 outstanding shares of Common Stock (as defined below) as of November 5, 2021 represented on the 10-Q filed by the Issuer with the Securities and Exchange Commission ("SEC") on November 17, 2021.

     

     

    CUSIP No. 96951A10413G/APage 2 of 7 Pages

     

     

     

    1.

     

    NAME OF REPORTING PERSONS

    Francis Capital Management, LLC

     

     

    2.

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

    (SEE INSTRUCTIONS)

    (a)     o

    (b)     o

     

     

    3.

     

    SEC USE ONLY

     

     

    4.

     

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

    California

     

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH

     

    5.

     

    SOLE VOTING POWER

    0

     

     

    6.

     

    SHARED VOTING POWER

    1,807,200

     

     

    7.

     

    SOLE DISPOSITIVE POWER

    0

     

     

    8.

     

     

    SHARED DISPOSITIVE POWER

    1,807,200

     

     

    9.

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    1,807,200

     

     

    10.

     

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

    (SEE INSTRUCTIONS)

    o

     

     

    11.

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    7.0% (See Note 2)

     

     

    12.

     

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

    IA, HC, OO

     

           

    (2)See Note (1) Above.

    CUSIP No. 96951A10413G/APage 3 of 7 Pages

     

     

     

    1.

     

    NAME OF REPORTING PERSONS

    John Francis

     

     

    2.

     

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

    (SEE INSTRUCTIONS)

    (a)     o

    (b)     o

     

     

    3.

     

    SEC USE ONLY

     

     

    4.

     

     

    CITIZENSHIP OR PLACE OF ORGANIZATION

    United States

     

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH

     

    5.

     

    SOLE VOTING POWER

    0

     

     

    6.

     

    SHARED VOTING POWER

    1,807,200

     

     

    7.

     

    SOLE DISPOSITIVE POWER

    0

     

     

    8.

     

     

    SHARED DISPOSITIVE POWER

    1,807,200

     

     

    9.

     

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    1,807,200

     

     

    10.

     

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

    (SEE INSTRUCTIONS)

    o

     

     

    11.

     

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

    7.0% (See Note 3)

     

     

    12.

     

     

    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

    IN, HC

     

           

    (3) See Note (1) Above.

     

    CUSIP No. 96951A10413G/APage 4 of 7 Pages

     

    AMENDMENT NO. 2 TO SCHEDULE 13G

     

    Reference is hereby made to the statement on Schedule 13G filed with the Securities and Exchange Commission by the Reporting Persons with respect to the Common Stock of the Issuer on December 23, 2020 and Amendment No. 1 thereto filed on February 16, 2021 (as so amended, the "Schedule 13G/A"). Terms defined in the Schedule 13G are used herein as so defined.

     

    The following Items of the Schedule 13G are amended and restated to read in their entirety as follows:

     

     

    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:

     

    (e) [x] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940

    (g) [x] Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G)

     

    Item 4.Ownership

     

    (i)Catalysis Partners, LLC

     

    (a)Amount beneficially owned: 1,807,200 (See Note 4)

     

    (b)Percent of class: 7.0% (See Note 5)

     

    (c)Number of shares as to which the person has:

     

    (i)Sole power to vote or to direct the vote: 0

     

    (ii)Shared power to vote or to direct the vote: 1,807,200 (See Note 4)

     

    (iii)Sole power to dispose or to direct the disposition of: 0

     

    (iv)Shared power to dispose or to direct the disposition of: 1,807,200 (See Note 4)

     

    (ii)Francis Capital Management, LLC

     

    (a)Amount beneficially owned: 1,807,200 (See Note 4)

     

    (b)Percent of class: 7.0% (See Note 5)

     

    (c)Number of shares as to which the person has:

     

    (i)Sole power to vote or to direct the vote: 0

     

    (ii)Shared power to vote or to direct the vote: 1,807,200 (See Note 4)

     

    (iii)Sole power to dispose or to direct the disposition of: 0

     

    (iv)Shared power to dispose or to direct the disposition of: 1,807,200 (See Note 4)

     

    (iii)John Francis

     

    (a)Amount beneficially owned: 1,807,200 (See Note 4)

     

    (b)Percent of class: 7.0% (See Note 5)

     

    (c)Number of shares as to which the person has:

     

    (i)Sole power to vote or to direct the vote: 0

     

    (ii)Shared power to vote or to direct the vote: 1,807,200 (See Note 4)

     

    (iii)Sole power to dispose or to direct the disposition of: 0

     

    (iv)Shared power to dispose or to direct the disposition of: 1,807,200 (See Note 4)

     

    CUSIP No. 96951A104 13G/A Page 5 of 7 Pages

     

     

    Note 4:

     

    Francis Capital Management, LLC is registered as an investment adviser with the State of California. Francis Capital Management, LLC, which serves as the general partner and investment manager to Catalysis Partners, LLC, (the "Fund"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Fund. Mr. John Francis, as Managing Member of Francis Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Fund.

     

    Note 5:

     

    Based on 25,912,502 outstanding shares of Common Stock as of November 5, 2021 represented on the 10-Q filed by the Issuer with the SEC on November 17, 2021.

     

      

     

    Item 10.Certifications:

     

    Each of the Reporting Persons makes the following certification:

     

    By signing below each Reporting Person certifies that, to the best of its 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. After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

     

     

    Date: February 14, 2022

     

     

     

    Catalysis Partners, LLC

    By: Francis Capital Management, LLC, its General Partner

    By: /s/ John Francis

    Name: John Francis

    Title: Managing Member

     

     

    Francis Capital Management, LLC

    By: /s/ John Francis

    Name: John Francis

    Title: Managing Member

     

     

    John Francis

    By: /s/ John Francis

     

     

    CUSIP No. 96951A104 13G/A Page 6 of 7 Pages

     

     

    EXHIBIT A

     

    Joint Filing Agreement Pursuant to Rule 13d-1

     

    This agreement is made pursuant to Rule 13d-l(k)(1) under the Securities Exchange Act of 1934, as amended (the "Act") by and among the parties listed below, each referenced to herein as a "Joint Filer". The Joint Filers agree that a statement of beneficial ownership as required by Sections 13(g) or 13(d) of the Act and the rules thereunder may be filed on each of his, her or its behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1(k).

     

     

    Dated: February 14, 2022
         

    Catalysis Partners, LLC

    By: Francis Capital Management, LLC, its General Partner

    By: /s/ John Francis

    Name: John Francis

    Title: Managing Member

     

     

    Francis Capital Management, LLC

    By: /s/ John Francis

    Name: John Francis

    Title: Managing Member

     

     

    John Francis

    By: /s/ John Francis

     

     

     

     

    CUSIP No. 96951A104 13G/A Page 7 of 7 Pages

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