CUSIP No. 65540B105
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13D
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1
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NAMES OF REPORTING PERSONS
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Headlands Strategic Opportunities Fund, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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☐
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(b)
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☐
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||||
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||||
3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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WC
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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||||
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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2,417,100
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||||
8
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SHARED VOTING POWER
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||||
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||||
9
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SOLE DISPOSITIVE POWER
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2,417,100
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|||
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||||
10
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SHARED DISPOSITIVE POWER
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||||
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||||
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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||
2,417,100
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|
|||
|
|
||||
12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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||||
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||||
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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5.4%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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PN
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CUSIP No. 65540B105
|
13D
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
Headlands Capital Management, LLC
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
|
|
|
|
2,417,100
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
|
|
||||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
|
||||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
5.4%
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
CUSIP No. 65540B105
|
13D
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
David E. Park III
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
||||
|
|
||||
6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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||
United States
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
2,417,100
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
|
|
||||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
|
||||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
5.4%
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
IN
|
|
|
|||
|
|
CUSIP No. 65540B105
|
13D
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
David Gelobter
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
United States
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
2,417,100
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
|
|
||||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
|
||||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
2,417,100
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
5.4%
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
IN
|
|
|
|||
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Item 1. |
Security and Issuer.
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Item 2. |
Identity and Background.
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i. |
Headlands Strategic Opportunities Fund, LP (the “Partnership”), a Delaware limited partnership.
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ii. |
Headlands Capital Management, LLC (“HCM”), a Delaware limited liability company which serves as the general partner to the Partnership.
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iii. |
David E. Park III, a United States citizen, who serves as Senior Managing Member of HCM.
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iv. |
David Gelobter, a United States citizen, who serves as Member of HCM.
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Item 3. |
Source and Amount of Funds or Other Consideration.
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Item 4. |
Purpose of Transaction.
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Item 5. |
Interest in Securities of the Issuer.
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Item 6. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
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Item 7. |
Material to Be Filed as Exhibits.
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HEADLANDS STRATEGIC OPPORTUNITIES FUND, LP
|
||
By: Headlands Capital Management, LLC, its general partner
|
||
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
Title:
|
Senior Managing Member
|
|
HEADLANDS CAPITAL MANAGEMENT, LLC
|
||
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
Title:
|
Senior Managing Member
|
|
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
By:
|
/s/ David Gelobter
|
|
Name:
|
David Gelobter
|
Transaction Date
|
Number of Shares Purchased
|
Price Per Share
|
Price Range per
Share High/Low
|
03/22/2024
|
22,611
|
$1.86 |
$1.8850-$1.8400
|
03/20/2024
|
27,001 |
$1.80 | $1.8500 - $1.7500 |
03/19/2024
|
65,571
|
$1.79
|
$1.8300 - $1.7400
|
03/18/2024
|
31,684
|
$1.82
|
$1.8300 - $1.7850
|
03/15/2024
|
84,063
|
$1.79
|
$1.8000 - $1.6700
|
03/14/2024
|
21,462
|
$1.82
|
$2.2200 - $1.7800
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03/13/2024
|
54,728
|
$1.92
|
$2.0500 - $1.8400 |
03/12/2024
|
48,320
|
$2.07
|
$2.2200 - $2.0000 |
03/11/2024
|
51,748
|
$2.17
|
$2.2450 - $2.1100
|
03/08/2024
|
23,742
|
$2.22
|
$2.240 - $2.1800 |
02/27/2024
|
26,716
|
$2.54
|
$2.5800 - $2.4850
|
02/26/2024
|
47,128
|
$2.50
|
$2.5500 - $2.4150
|
02/23/2024
|
13,806
|
$2.52
|
$2.5350 - $2.4985
|
02/22/2024
|
12,820
|
$2.52
|
$2.5750 - $2.4950
|
02/21/2024
|
12,567
|
$2.55
|
$2.5800 - $2.4650
|
02/20/2024
|
20,113
|
$2.48
|
$2.5500 - $2.4050
|
02/16/2024
|
24,590
|
$2.47
|
$2.5300 - $2.4130
|
02/15/2024
|
16,266
|
$2.54
|
$2.5800 - $2.5000
|
02/14/2024
|
10,813
|
$2.42
|
$2.4800 - $2.3700
|
02/13/2024
|
16,867
|
$2.45
|
$2.5650 - $2.4000
|
02/09/2024
|
3,257
|
$2.58
|
$2.5800 - $2.5620
|
02/08/2024
|
1,785
|
$2.56
|
$2.5800 - $2.5100
|
02/07/2024
|
11,732
|
$2.48
|
$2.5500 - $2.4000
|
02/06/2024
|
7,243
|
$2.41
|
$2.4600 - $2.3600
|
02/05/2024
|
15,186
|
$2.41
|
$2.5000 - $2.3600
|
02/02/2024
|
10,327
|
$2.49
|
$2.5800 - $2.4550
|
02/01/2024
|
5,773
|
$2.57
|
$2.5800 - $2.5200
|
01/31/2024
|
2,400
|
$2.56
|
$2.5800 - $2.5400
|
HEADLANDS STRATEGIC OPPORTUNITIES FUND, LP
|
||
By:
|
Headlands Capital Management, LLC, its general partner
|
|
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
Title:
|
Senior Managing Member
|
|
HEADLANDS CAPITAL MANAGEMENT, LLC
|
||
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
Title:
|
Senior Managing Member
|
|
By:
|
/s/ David E. Park III
|
|
Name:
|
David E. Park III
|
|
By:
|
/s/ David Gelobter
|
|
Name:
|
David Gelobter
|