0000899140-14-000214.txt : 20140214 0000899140-14-000214.hdr.sgml : 20140214 20140214142246 ACCESSION NUMBER: 0000899140-14-000214 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140214 DATE AS OF CHANGE: 20140214 GROUP MEMBERS: MDRA GP LP GROUP MEMBERS: MONARCH GP LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SCORPIO BULKERS INC. CENTRAL INDEX KEY: 0001587264 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1T FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-87971 FILM NUMBER: 14614742 BUSINESS ADDRESS: STREET 1: 9, BOULEVARD CHARLES III CITY: MC STATE: O9 ZIP: 98000 BUSINESS PHONE: (011)377 9798 5716 MAIL ADDRESS: STREET 1: 9, BOULEVARD CHARLES III CITY: MC STATE: O9 ZIP: 98000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Monarch Alternative Capital LP CENTRAL INDEX KEY: 0001281084 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 535 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-554-1700 MAIL ADDRESS: STREET 1: 535 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: Quadrangle Debt Recovery Advisors LP DATE OF NAME CHANGE: 20070125 FORMER COMPANY: FORMER CONFORMED NAME: Quadrangle Debt Recovery Advisors LLC DATE OF NAME CHANGE: 20061013 FORMER COMPANY: FORMER CONFORMED NAME: QDRA LLC DATE OF NAME CHANGE: 20040223 SC 13G 1 s11276426a.htm s11276426a.htm

 

 

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

 
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934*
 

 
Scorpio Bulkers Inc.
(Name of Issuer)
 
Common Shares, par value $0.01
(Title of Class of Securities)
 
Y7546A106
(CUSIP Number)
 
December 31, 2013
(Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
o  Rule 13d-1(b)
o  Rule 13d-1(c)
x  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 on 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 (the “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. Y7546A106
13G

1
NAME OF REPORTING PERSON
 
 
Monarch Alternative Capital LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)   o
 
(b)   x
 
 
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
8,341,000*
 
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
8,341,000*
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
8,341,000*
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
  N/A
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
6.1%*
12
TYPE OF REPORTING PERSON
 
PN
*Reflects beneficial ownership as of December 31, 2013. See item 4.
 
 
 
Page 2 of 7
 
 
 
CUSIP No. Y7546A106
13G

1
NAME OF REPORTING PERSON
 
 
MDRA GP LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)   o           
 
(b)   x
 
 
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
 
8,341,000*
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
8,341,000*
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
8,341,000*
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
N/A
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
6.1%*
12
TYPE OF REPORTING PERSON
 
PN
*Reflects beneficial ownership as of December 31, 2013. See item 4.
 
 
 
Page 3 of 7
 
 

CUSIP No. Y7546A106
13G

1
NAME OF REPORTING PERSON
 
Monarch GP LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)   o
 
(b)   x
 
 
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
 
8,341,000*
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
8,341,000*
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
8,341,000*
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
N/A
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
6.1%*
12
TYPE OF REPORTING PERSON
 
OO
*Reflects beneficial ownership as of December 31, 2013. See item 4.
 
 
 
 
Page 4 of 7
 
 
Item 1(a):               Name of Issuer:
 
The name of the issuer is Scorpio Bulkers Inc. (the “Issuer”).
 
Item 1(b):               Address of Issuer’s Principal Executive Offices:
 
9, Boulevard Charles III
Monaco
98000

Item 2(a):               Name of Person Filing:
 
This Schedule 13G is filed by:
 
(i) Monarch Alternative Capital LP (“MAC”), which serves as advisor to a variety of funds (such funds collectively, the “Funds”) with respect to shares of Common Stock (as defined below) of the Issuer directly owned by the Funds;
 
(ii) MDRA GP LP (“MDRA GP”), which is the general partner of MAC, with respect to shares of Common Stock indirectly beneficially owned by virtue of such position; and
 
(iii) Monarch GP LLC (“Monarch GP”), which is the general partner of MDRA GP, with respect to shares of Common Stock indirectly beneficially owned by virtue of such position.
 
MAC, MDRA GP and Monarch GP are sometimes collectively referred to herein as the “Reporting Persons.”
 
Item 2(b):
Address of Principal Business Office or, if None, Residence:
 
The address of the principal business office of the Reporting Persons is as follows:
 
c/o Monarch Alternative Capital LP
535 Madison Avenue
New York, New York 10022

Item 2(c):               Citizenship:
 
MAC is a Delaware limited partnership.  MDRA GP is a Delaware limited partnership.  Monarch GP is a Delaware limited liability company.
 
Item 2(d):               Title of Class of Securities:
 
Common Shares, par value $0.01 (“Common Stock”)
 
Item 2(e):               CUSIP Number
 
Y7546A106
 
Item 3:  If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:
 
 
A.
o Broker or dealer registered under Section 15 of the Act,
 
 
B.
o Bank as defined in Section 3(a)(6) of the Act,
 
 
C.
o Insurance Company as defined in Section 3(a)(19) of the Act,
 
 
D.
o Investment Company registered under Section 8 of the Investment Company Act of 1940,
 
 
E.
o Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E),
 
 
 
Page 5 of 7
 
 
 
 
F.
o Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F),
 
 
G.
o Parent Holding Company or control person in accordance with Rule 13d-1 (b)(1)(ii)(G),
 
 
H.
o Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act,
 
 
I.
o Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940,
 
 
J.
o A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J)
 
 
K.
o Group, in accordance with Rule 13d-1(b)(1)(ii)(K)
 
Item 4:   Ownership:
 
The beneficial ownership of each of the Reporting Persons as of December 31, 2013 is as follows:
 
(a)           Amount beneficially owned: 8,341,000
 
(b)           Percent of Class: 6.1% (Calculated based on approximately 137,390,411 shares of Common Stock outstanding as reported by Bloomberg L.P. on February 10, 2014.  101,395,411 shares of Common Stock were reported outstanding in the Prospectus filed pursuant to Rule 424(b)(3) by the Issuer with the Securities and Exchange Commission on December 17, 2013.)
 
(c)           Number of shares as to which such person has:
 
(i) Sole power to vote or direct the vote: 0
 
(ii) Shared power to vote or direct the vote: 8,341,000
 
(iii) Sole power to dispose or direct the disposition: 0
 
(iv) Shared power to dispose or direct the disposition: 8,341,000
 
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: [   ]
 
Item 6:   Ownership of More than Five Percent on Behalf of Another Person:
 
N/A
 
Item 7:   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
 
N/A
 
Item 8:   Identification and Classification of Members of the Group:
 
N/A
 
Item 9:   Notice of Dissolution of Group:
 
N/A
 
 
 
Page 6 of 7
 
 
 
Item 10:                       Certification:
 
N/A
 
 
 
 
Page 7 of 7
 
SIGNATURES
 
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.
 
Dated:  February 13, 2014
MONARCH ALTERNATIVE CAPITAL LP
By:       MDRA GP LP, its General Partner
 
By:       Monarch GP LLC, its General Partner
 
 
By:        /s/ Michael Weinstock             
       Name:   Michael Weinstock
       Title:     Member
 
 
Dated:  February 13, 2014
MDRA GP LP
By:    Monarch GP LLC, its General Partner
 
 
By:        /s/ Michael Weinstock             
       Name:    Michael Weinstock
       Title:      Member
 
 
Dated:  February 13, 2014
MONARCH GP LLC
 
 
By:         /s/ Michael Weinstock             
       Name:    Michael Weinstock
       Title:      Member
 
[Signature Page to Schedule 13G with respect to Scorpio Bulkers Inc.]
 
 
 EX-1 2 s11276426b.htm JOINT FILING AGREEMENT s11276426b.htm
 
 
EXHIBIT 1
 
 
JOINT FILING AGREEMENT
 
THIS JOINT FILING AGREEMENT is entered into as of February 13, 2014, by and among the parties hereto.  The undersigned hereby agree that the Statement on Schedule 13G with respect to the common shares, par value $0.01 of Scorpio Bulkers Inc. and any amendment thereafter signed by each of the undersigned shall be (unless otherwise determined by the undersigned) filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 
Dated:  February 13, 2014
MONARCH ALTERNATIVE CAPITAL LP
By:       MDRA GP LP, its General Partner
 
By:       Monarch GP LLC, its General Partner
 
 
By:        /s/ Michael Weinstock             
       Name:   Michael Weinstock
       Title:     Member
 
 
Dated:  February 13, 2014
MDRA GP LP
By:    Monarch GP LLC, its General Partner
 
 
By:        /s/ Michael Weinstock             
       Name:    Michael Weinstock
       Title:      Member
 
 
Dated:  February 13, 2014
MONARCH GP LLC
 
 
By:         /s/ Michael Weinstock             
       Name:    Michael Weinstock
       Title:      Member