0000905718-22-000005.txt : 20220103 0000905718-22-000005.hdr.sgml : 20220103 20220103163500 ACCESSION NUMBER: 0000905718-22-000005 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20220103 DATE AS OF CHANGE: 20220103 GROUP MEMBERS: PETER S. PARK SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HCI Group, Inc. CENTRAL INDEX KEY: 0001400810 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-86705 FILM NUMBER: 22502601 BUSINESS ADDRESS: STREET 1: 3802 COCONUT PALM DRIVE CITY: TAMPA STATE: FL ZIP: 33619 BUSINESS PHONE: 813 849-9500 MAIL ADDRESS: STREET 1: 3802 COCONUT PALM DRIVE CITY: TAMPA STATE: FL ZIP: 33619 FORMER COMPANY: FORMER CONFORMED NAME: Homeowners Choice, Inc. DATE OF NAME CHANGE: 20070524 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Park West Asset Management LLC CENTRAL INDEX KEY: 0001386928 IRS NUMBER: 300132084 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165 CITY: LARKSPUR STATE: CA ZIP: 94939 BUSINESS PHONE: (415) 524-2902 MAIL ADDRESS: STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165 CITY: LARKSPUR STATE: CA ZIP: 94939 SC 13G 1 hcigroup_sc13gdec232021.htm SC 13G

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

(Amendment No. )*

 

 

HCI Group, Inc.

(Name of Issuer)

 

COMMON STOCK, NO PAR VALUE

(Title of Class of Securities)

40416E103

 

(CUSIP Number)

 

December 23, 2021

(Date of Event Which Requires Filing of this Statement)

 

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:

 

[   ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[   ] 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 in 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).

 
 

 

 

 

CUSIP No.  40416E103
(1) Names of Reporting Persons
  Park West Asset Management LLC  
(2) Check the Appropriate Box if a Member of a Group (a) [    ]  
  (b) [    ]  
     
(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: 514,832*  
  (7) Sole Dispositive Power: 0*  
  (8) Shared Dispositive Power: 514,832*  
       
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
  514,832*  
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions):
  [   ]  
(11) Percent of Class Represented by Amount in Row (9)
  5.0%*  
(12) Type of Reporting Person
  IA  
 

 * See Item 4 for additional information.

 

 
 

 

 

CUSIP No.  40416E103

 

(1) Names of Reporting Persons
  Peter S. Park  
(2) Check the Appropriate Box if a Member of a Group (a) [    ]  
  (b) [    ]  
     
(3) SEC Use Only
(4) Citizenship or Place of Organization
  United States of America  
Number of Shares Beneficially Owned By Each Reporting Person With
  (5) Sole Voting Power: 0*  
  (6) Shared Voting Power: 514,832*  
  (7) Sole Dispositive Power: 0*  
  (8) Shared Dispositive Power: 514,832*  
       
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
  514,832*  
(10) Check if the Aggregate Amount  in Row (9) Excludes Certain Shares (See Instructions):
  [    ]  
(11) Percent of Class Represented by Amount in Row (9)
  5.0%*  
(12) Type of Reporting Person
  IN  
 

 * See Item 4 for additional information.

 

 
 
 

 

Item 1(a).  Name Of Issuer:  HCI Group, Inc., a Florida corporation (the “Company”).  
     
     

 

Item 1(b).  Address of Issuer’s Principal Executive Offices:  
 

3802 Coconut Palm Drive

Tampa, FL 33619

 
     

 

Item 2(a).  Name of Person Filing:  
 

This report on Schedule 13G (this “Schedule 13G”) is being jointly filed by (i) Park West Asset Management LLC, a Delaware limited liability company (“PWAM”) and (ii) Peter S. Park (“Mr. Park” and, together with PWAM, the “Reporting Persons”).

 

 
Item 2(b).  Address of Principal Business Office or, if None, Residence:  
 

The address for the Reporting Persons is:  900 Larkspur Landing Circle, Suite 165, Larkspur, California 94939.

 

 
Item 2(c).  Citizenship:  
 

PWAM is organized under the laws of the State of Delaware. Mr. Park is a citizen of the United States.

 

 
Item 2(d).  Title of Class of Securities:  
  Common Stock, no par value (the “Common Stock”).  
Item 2(e).  CUSIP No.:   
  40416E103  
Item 3.  If This Statement Is Filed Pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the Person Filing is a:
  Not Applicable.
 

 

 
 

 

Item 4.  Ownership:

As reported in the cover pages to this report, the ownership information with respect to each of PWAM and Mr. Park is as follows:

 
     
  (a) Amount Beneficially Owned: 514,832*  
  (b) Percent of Class: 5.0%*  
  (c) Number of Shares as to which such person has:    
  (i) sole power to vote or to direct the vote: 0*  
  (ii) shared power to vote or to direct the vote: 514,832*  
  (iii) sole power to dispose or to direct the disposition of: 0*  
  (iv) shared power to dispose or to direct the disposition of: 514,832*  
           

 

*PWAM is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (“PWIMF”), and Park West Partners International, Limited, a Cayman Islands exempted company (“PWPI” and collectively with PWAM and PWIMF, the “PW Funds”). Mr. Park, through one or more affiliated entities, is the controlling manager of PWAM.

 

As of December 23, 2021, PWIMF held 468,427 shares of Common Stock and PWPI held 46,405 shares of Common Stock. As of December 23, 2021, PWAM and Mr. Park may be deemed to beneficially own 514,832 shares of Common Stock of the Company held in the aggregate by the PW Funds. 

 

The reported beneficial ownership percentage is based upon approximately 10,250,656 shares of Common Stock issued and outstanding as of November 3, 2021, based on information reported by the Company in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2021.

 

 

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:
  Not Applicable.
Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:
  Not Applicable.
Item 8.  Identification and Classification of Members of the Group:

 

  Not Applicable.
Item 9.  Notice of Dissolution of Group:
  Not Applicable.
Item 10.  Certification:
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 
 
 

 

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.

 

 

  January 3, 2022  
     
     
  PARK WEST ASSET MANAGEMENT LLC  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  
     
     
  /s/ Peter S. Park  
  Peter S. Park  

 

   

 

 

Attention: Intentional misstatements or omissions of fact constitute

Federal criminal violations (See 18 U.S.C. 1001)

 

 

 

 

 

 
 

 

 

Exhibit Index

 

Exhibit

 

1.     Joint Filing Agreement, dated as of January 3, 2022, by and between Park West Asset Management LLC, Park West Investors Master Fund, Limited and Peter S. Park.

EX-1 2 hcigroup_ex1dec232021.htm JOINT FILING AGREEMENT

 
   

Exhibit 1

 

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of them of a statement on Schedule 13G (including amendments thereto) with respect to the shares of Common Stock, no par value, of HCI Group, Inc., a Florida corporation, and further agree that this Joint Filing Agreement be included as Exhibit 1 to such Schedule 13G. In evidence thereof, the undersigned hereby execute this agreement this 3rd day of January, 2022.

 

 

  PARK WEST ASSET MANAGEMENT LLC  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
  Title: Chief Financial Officer  

 

  PARK WEST INVESTORS MASTER FUND, LIMITED  
     
  By:    Park West Asset Management LLC, its Investment Manager  
     
     
  By: /s/ Grace Jimenez  
  Name: Grace Jimenez  
 

Title: Chief Financial Officer

 

 

  

    /s/ Peter S. Park  
  Peter S. Park