FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
RCN CORP /DE/ [ RCNIV ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/02/2007 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock, par value $0.01 per share | 07/02/2007 | J | 631,940(7) | D(7) | $18.79(7) | 7,173,512 | I | See Footnotes(1)(2)(3) | ||
Common Stock, par value $0.01 per share | 07/02/2007 | J | 631,940(7) | A(7) | $18.79(7) | 7,173,512 | I | See Footnotes(1)(2)(3) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Warrant to purchase Common Stock | $16.72 | 07/02/2007 | J | 113,552(7)(8) | 05/25/2007 | 06/21/2012 | Warrant | 113,552 | $5.219 | 1,288,785(8) | I | See Footnotes(4)(5)(6) | |||
Warrant to purchase Common Stock | $16.72 | 07/02/2007 | J | 113,552(7)(8) | 05/25/2007 | 06/21/2012 | Warrant | 113,552 | $5.219 | 1,288,785(8) | I | See Footnotes(4)(5)(6) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. Tudor Investment Corporation ("TIC") is the investment adviser or trading advisor to each of The Tudor BVI Global Portfolio L.P. (f/k/a The Tudor BVI Global Portfolio Ltd.) ("BVI") and The Raptor Global Portfolio Ltd. ("Raptor"), and the General Partner of The Altar Rock Fund L.P. ("Altar Rock"). The shares of Common Stock (collectively, "Common Stock") as reported herein as indirectly beneficially owned by TIC are directly beneficially owned by BVI (1,811,495 shares), Raptor (5,303,727 shares), and Altar Rock (58,290 shares). Because TIC is the sole General Partner of Altar Rock and provides investment-advisory services to BVI and Raptor, TIC may be deemed to beneficially own the shares of Common Stock owned by each of such entities. TIC disclaims beneficial ownership of the securities reported herein as indirectly owned except to the extent of its pecuniary interest in such securities. |
2. The shares of Common Stock (the "Shares") are reported herein as indirectly beneficially owned by Paul Tudor Jones II. The Shares are owned indirectly by TIC (7,173,512 shares) (see Footnote 1). Because Mr. Jones is the controlling shareholder of TIC, Mr. Jones may be deemed to beneficially own the Shares deemed beneficially owned by TIC. Mr. Jones expressly disclaims such beneficial ownership. |
3. The Shares are reported herein as indirectly beneficially owned by James J. Pallotta. The Shares are owned indirectly by TIC (7,173,512 shares) (see Footnote 1). Because Mr. Pallotta is the portfolio manager of TIC with respect to the Shares and may be deemed to have voting and investment authority with respect to the Shares, Mr. Pallotta may be deemed to beneficially own the Shares deemed beneficially owned by each of TIC. |
4. The warrants to purchase Common Stock with an exercise date of May 25, 2007 (the "Warrants") reported herein as indirectly beneficially owned by TIC are directly beneficially owned by BVI (325,452 Warrants), Raptor (952,875 Warrants), and Altar Rock (10,458 Warrants). Because TIC provides investment-advisory services to BVI and Raptor, and is the sole General Partner of Altar Rock, TIC may be deemed to beneficially own the Warrants owned by each of such entities. TIC disclaims beneficial ownership of the securities reported herein as indirectly owned except to the extent of its pecuniary interest in such securities. |
5. The Warrants are reported herein as indirectly beneficially owned by Paul Tudor Jones II. Because Mr. Jones is the controlling shareholder of TIC, Mr. Jones may be deemed to beneficially own the Warrants deemed beneficially owned by TIC. Mr. Jones expressly disclaims such beneficial ownership. |
6. The Warrants are reported herein as indirectly beneficially owned by James J. Pallotta. The Warrants are owned indirectly by TIC (1,288,785 Warrants) (see Footnote 4). Because Mr. Pallotta is the portfolio manager of TIC with respect to the Warrants and may be deemed to have voting and investment authority with respect to the Warrants, Mr. Pallotta may be deemed to beneficially own the Warrants deemed beneficially owned by each of TIC. Mr. Pallotta expressly disclaims such beneficial ownership. |
7. In connection with a restructuring of its investment operations, on July 2, 2007, Tudor Proprietary Trading, L.L.C. ("TPT") contributed the majority of its investment positions, including the Shares and Warrants, to BVI in exchange for an equivalent interest in BVI (such interest to be held by a wholly-owned subsidiary of TPT). The number of Shares previously owned directly by TPT is equal to the number of Shares in which TPT has an indirect beneficial ownership interest following such restructuring. |
8. On May 25, 2007, RCN Corporation (the "Company") repurchased its 7.375% Convertible Second Lien Notes due 2012. In connection with such repurchase TPT , BVI, Raptor, and Altar Rock, received 75,455, 140,807, 633,183, and 6,949 Warrants to puchase Shares, respectively. In connection with a dividend paid to shareholders of the Company on June 11, 2007, the number of Warrants held by such entities was automatically adjusted pursuant to the terms of the Warrants to 113,552 (TPT), 211,900 (BVI), 952,875 (Raptor), and 10,458 (Altar Rock) Warrants, respectively. In accordance with the restructuring referred to in Footnote (7) above, the Warrants previously held by TPT were contributed to BVI. |
TUDOR INVESTMENT CORPORATION by /s/ Stephen N. Waldman, Managing Director | 07/02/2007 | |
/s/ Paul Tudor Jones II | 07/02/2007 | |
/s/ James J. Pallotta | 07/02/2007 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |