No wonder the deal sailed thruGate City was bailing on their position to the risk arbs.
State the designation and the net increase or decrease in the number or principal amount of securities, and in the eligible institutional investor’s securityholding percentage in the class of securities, since the last report filed by the eligible institutional investor under Part 4 or the early warning requirements. Since the last report filed July 8, 2021 through March 31, 2022, accounts managed by Gate City disposed 2,203,500 shares, representing a decrease of approximately 6.99% of the Issuer’s 31,508,316 outstanding common shares as reported in its Management Discussion & Analysis dated November 25, 2021. 3.2 State the designation and number or principal amount of securities and the eligible institutional investor’s securityholding percentage in the class of securities at the end of the month for which the report is made. As of March 31, 2022, Gate City exercises control or direction, on behalf of accounts fully managed by it, 2,603,650 common shares of the issuer. Based on the number of currently issued and outstanding common shares (as reported by the issuer), Gate City’s securityholding percentage would be approximately 8.26%.