0001033475-17-000002.txt : 20170210 0001033475-17-000002.hdr.sgml : 20170210 20170210160412 ACCESSION NUMBER: 0001033475-17-000002 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170210 DATE AS OF CHANGE: 20170210 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Internap Corp CENTRAL INDEX KEY: 0001056386 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 912145721 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-56941 FILM NUMBER: 17593187 BUSINESS ADDRESS: STREET 1: ONE RAVINIA DRIVE, SUITE 1300 CITY: ATLANTA STATE: GA ZIP: 30346 BUSINESS PHONE: 404-302-9700 MAIL ADDRESS: STREET 1: ONE RAVINIA DRIVE, SUITE 1300 CITY: ATLANTA STATE: GA ZIP: 30346 FORMER COMPANY: FORMER CONFORMED NAME: INTERNAP NETWORK SERVICES CORP DATE OF NAME CHANGE: 20010918 FORMER COMPANY: FORMER CONFORMED NAME: INTERNAP NETWORK SERVICES CORP/WA DATE OF NAME CHANGE: 19990721 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AVENIR CORP CENTRAL INDEX KEY: 0001033475 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 541146619 STATE OF INCORPORATION: VA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1775 PENNSYLVANIA AVE NW STREET 2: SUITE 650 CITY: WASHINGTON STATE: DC ZIP: 20006 BUSINESS PHONE: (202) 659-4427 MAIL ADDRESS: STREET 1: 1775 PENNSYLVANIA AVE NW STREET 2: SUITE 650 CITY: WASHINGTON STATE: DC ZIP: 20006 FORMER COMPANY: FORMER CONFORMED NAME: AVENIR CORP/DC DATE OF NAME CHANGE: 19970225 SC 13D 1 inap13dnew.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES AND EXCHANGE ACT OF 1934 (Amendment No. )* Internap Corporation ------------------------------------------------------------------------------- (Name of Issuer) Common Stock ------------------------------------------------------------------------------- (Title of Class of Securities) 45885A300 ------------------------------------------------------------------------------- (CUSIP Number) Peter C. Keefe Avenir Corporation 1775 Pennsylvania Ave NW Suite 650 Washington DC, 20006 (202) 659-4427 ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 9, 2017 ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box: [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent. *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 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 ("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). SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Avenir Corporation I.D. No. 54-1146619 ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ---------- --------------------------------------------------------------------- 3 SEC USE ONLY ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------- -------- -------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER -------- --------------------------------------------------- OF SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 3,060,103 EACH -------- --------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 0 ---------- --------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,060,103 ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 3,060,103 ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.25% ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA ----------- -------------------------------------------------------------------- SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Peter C. Keefe ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ---------- --------------------------------------------------------------------- 3 SEC USE ONLY ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------- -------- -------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER -------- --------------------------------------------------- OF SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 3,060,103 EACH -------- --------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 0 ---------- --------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,060,103 ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 3,060,103 ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.25% ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ----------- -------------------------------------------------------------------- SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) James H. Rooney ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] ---------- --------------------------------------------------------------------- 3 SEC USE ONLY ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------- -------- -------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER -------- --------------------------------------------------- OF SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 3,060,103 EACH -------- --------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 0 ---------- --------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,060,103 ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 3,060,103 ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.25% ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN ----------- -------------------------------------------------------------------- SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ Item 1. Security and Issuer This Schedule relates to the common stock of Internap Corporation, a Delaware corporation ("Issuer"), which has its principal executive offices at One Ravinia Drive, Suite 1300, Atlanta, Georgia, 30346. Unless the context otherwise requires, references herein to "Securities" or "Shares" are to such common stock of the Issuer. Item 2. Identity and Background This Schedule 13D ("Schedule") is being filed on behalf of Avenir Corporation ("Avenir"), a Virginia corporation, Peter C. Keefe and James H. Rooney (Messrs. Keefe and Rooney along with Avenir are "Reporting Persons"). Avenir is an investment adviser registered under the Investment Advisers Act of 1940, as amended ("Advisers Act"). Messrs. Keefe and Rooney are portfolio managers and shareholders of Avenir. The bussiness address of the Reporting Persons is 1775 Pennsylvania Ave NW, Suite 650, Washington, DC 20006. Item 3. Source and Amount of Funds or Other Consideration. The Securities of the Issuer were primarily acquired on behalf of the investment advisory clients of Avenir under sole or shared discretionary authority granted Avenir. In addition, Avenir and/or its principal officers and employees purchased Shares in the Issuer for their personal accounts. The aggregate amount of funds used to purchase the Securities reported in this filing totaled approximately $15,564,682. In addition, none of the proceeds used to purchase the Securities were expressly provided through borrowings, though certain accounts managed by Avenir may carry margin balances from time to time. Item 4. Purpose of Transaction Reporting Persons acquired the shares for investment purposes. Over time, the Reproting Persons may seek to purchase additional shares or dispose of shares as part of its ongoing portfolio management process. The Reporting Persons reserve the right to be in contact with members of the Issuer's management, the members of the Issuer's Board of Directors, other significant shareholders and others regarding alternatives that the Issuer could employ to increase shareholder value. In addition, the Reporting Persons may be in contact with members of the Issuer's management, the members of the Issuer's Board of Directors, other significant shareholders and others regarding the Reporting Person's views on the long-term prospects of the Issuer. Item 5. Interest In Securities Of The Issuer (a) The aggregate number and percentage of Securities to which this Schedule 13D relates is 3,060,103 shares of the common stock of the Issuer, constituting approximately 5.25% of the 58,245,920 shares outstanding. (b) The Reporting Persons generally have shared power to dispose of or to direct the disposition of the Securities held for discretionary accounts of its investment clients, and may be granted the shared power to vote or direct the vote of such Securities; such powers may be retained by or shared with the respective clients for shared or non-discretionary accounts, for which Avenir generally makes recommendations with respect thereto. (c) All purchase or sale transactions in the Securities for the past 60 days are on Schedule A. (d) The investment advisory clients of Avenir have the sole right to receive and, subject to notice, to withdraw the proceeds from the sale of the Securities, and the sole power to direct the receipt of dividends from any of the Securities held for their respective accounts. Such clients may also terminate the investment advisory agreements without penalty upon appropriate notice. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer The powers of disposition with respect to Securities owned by discretionary private accounts of Avenir are established in written investment advisory agreements between clients and Avenir, which are entered into in the normal and usual course of the business of Avenir as a registered investment advisor and which are generally applicable to all securities purchased for the benefit of each such discretionary private account. There are no special or different agreements relating to the Securities of the Issuer. The written investment advisory agreements with clients do not contain provisions relating to borrowing of funds to finance the acquisition of the Securities, acquisition of control, transfer of securities, joint ventures, or any of the other transactions listed in the instructions to Item 7 of Schedule 13D other than voting of proxies. In connection with voting, Avenir may be allowed or directed to vote the proxies received by accounts classified as "discretionary" or "shared" accounts; such authority is generally retained by the clients for accounts classified as "non-discretionary". Item 7. Material to be Filed as an Exhibit Exhibit A: Agreement between the Reporting Persons to File Jointly SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ SIGNATURE 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. February 10, 2017 ----------------------------------- Date Avenir Corporation /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe/Ex. Chairman ----------------------------------- Name/Title /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe ----------------------------------- Name/Title /s/ James H. Rooney ----------------------------------- Signature James H. Rooney ----------------------------------- Name/Title SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ SCHEDULE A PURCHASE ("BY") AND SALE ("SL") TRANSACTIONS, TRANSFER OUTS ("LO") AND TRANSFER INS ("LI") SINCE THE MOST RECENT FILING OF SCHEDULE 13D All purchases and sales listed below were normal, open-market transactions. Average Transaction Per Type Date Quantity Total Price Share LO 12/15/2016 6,970 6,109.61 0.88 LO 12/20/2016 1,500 1,695.00 1.13 SL 12/21/2016 421,858 660,220.92 1.57 SL 12/22/2016 277,915 458,270.61 1.65 SL 12/28/2016 147,884 255,722.73 1.73 SL 12/30/2016 693,497 1,039,999.10 1.50 SL 1/26/2017 93 151.95 1.63 LO 2/02/2017 955 1,547.10 1.62 BY 2/02/2017 317,400 531,258.00 1.67 BY 2/06/2017 225,000 374,145.00 1.66 BY 2/07/2017 200,262 336,289.76 1.68 BY 2/08/2017 148,630 254,391.07 1.71 BY 2/09/2017 154,622 268,700.26 1.74
SCHEDULE 13D ------------------ ------------------ CUSIP No. 45885A300 ------------------ ------------------ EXHIBIT A The undersigned agree that this Schedule 13D, dated February 9, 2017, relating to the Common Stock of Internap Corporation, shall be filed on behalf of the undersigned. Avenir Corporation /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe/Ex. Chairman ----------------------------------- Name/Title /s/ Peter C. Keefe ----------------------------------- Signature Peter C. Keefe ----------------------------------- Name/Title /s/ James H. Rooney ----------------------------------- Signature James H. Rooney ----------------------------------- Name/Title