0001720578-17-000004.txt : 20171227
0001720578-17-000004.hdr.sgml : 20171227
20171226174947
ACCESSION NUMBER: 0001720578-17-000004
CONFORMED SUBMISSION TYPE: SC 13D
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20171227
DATE AS OF CHANGE: 20171226
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: Destination Maternity Corp
CENTRAL INDEX KEY: 0000896985
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621]
IRS NUMBER: 133045573
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0131
FILING VALUES:
FORM TYPE: SC 13D
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-43965
FILM NUMBER: 171274999
BUSINESS ADDRESS:
STREET 1: 232 STRAWBRIDGE DRIVE
CITY: MOORESTOWN
STATE: NJ
ZIP: 08057
BUSINESS PHONE: 856-291-9700
MAIL ADDRESS:
STREET 1: 232 STRAWBRIDGE DRIVE
CITY: MOORESTOWN
STATE: NJ
ZIP: 08057
FORMER COMPANY:
FORMER CONFORMED NAME: MOTHERS WORK INC
DATE OF NAME CHANGE: 19930205
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: Miller Nathan G
CENTRAL INDEX KEY: 0001720578
FILING VALUES:
FORM TYPE: SC 13D
MAIL ADDRESS:
STREET 1: 347 LUKES WOOD RD
CITY: NEW CANAAN
STATE: CT
ZIP: 06840
SC 13D
1
DESTNGM13D.txt
DESTNGM13D
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Destination Maternity Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
25065D100
(CUSIP Number)
Nathan G. Miller
347 Lukes Wood Road
New Canaan, CT 06840
(917) 826-0482
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 26, 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 13d-7 for other parties
to whom copies are to be sent.
CUSIP No. 25065D100
1 NAMES OF REPORTING PERSONS
Nathan G. Miller
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions)
(a)
(b)
3 SEC USE ONLY
4 SOURCE OF FUNDS (see Instructions)
PF
5 CHECK 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
1,136,727
8 SHARED VOTING POWER
0
9 SOLE DISPOSITIVE POWER
1,136,727
10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,136,727
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)
7.8%
14 TYPE OF REPORTING PERSON (see Instructions)
IN
Item 1. Security and Issuer
This statement on Schedule 13D (this Schedule 13D) relates to shares of common
stock, par value $0.01 per share (DM Common Stock), of Destination Maternity
Corporation, a Delaware corporation (the Issuer), whose principal executive
offices are located at 232 Strawbridge Drive, Moorestown, New Jersey 08057. For
the avoidance of doubt, the ownership stake has been calculated based on 14.61
million shares issued (rather than shares outstanding) as reflected in the most
recent 10-Q.
Item 2. Identity and Background
(a) The reporting person is Nathan G. Miller
(b) Residence is 347 Lukes Wood Road, New Canaan, CT 06840
(c) Principal occupation is investor / analyst. Occupation / work is also
conducted at NGM Asset Management, LLC with an address of 27 Pine Street, Suite
700, New Canaan, CT 06840.
(d) During the last five years, the reporting person has not been convicted
in a criminal proceeding.
(e) During the last five years, the reporting person was not party to a
civil proceeding of a judicial or administrative body of competent jurisdiction.
(f) The reporting person is a citizen of the United States of America
Item 3. Source and Amount of Funds or Other Consideration
The aggregate purchase price for the 1,136,727 shares of DM Common Stock
acquired by Nathan G. Miller is approximately $3,332,669. The purchases were
funded by cash on hand.
Item 4. Purpose of Transaction
The reporting person is a long-term investor in Destination Maternity. The
reporting person has no plan or proposal to acquire additional securities or
dispose of securities, but will review their investments on a continuing basis,
based on future facts and circumstances.
The reporting person intends to engage in a constructive dialogue with the board
and management as part of the process that the Issuer publicly announced in
October of 2017 including but not limited to identifying qualified board
candidates and management candidates, increasing the size of the board, adding
complementary members, and optimizing the capital structure.
As a long term investor, the reporting person intends to analyze and consider
any and all potential corporate transactions deemed appropriate or in their
interest, including but not limited to mergers, reorganizations, and
liquidations.
The reporting person also intends to engage in constructive discussions to seek
improved corporate governance, compensation practices (oversight, pay for
performance and performance hurdles, stock grants, changing terms of employment
agreements, performance thresholds, retention/severance agreements, enforcing
mandatory stock ownership requirements, etc.), investor relations and
communication, and operating performance (expense control and revenue growth)
to ensure a renewed focus on the interests of all shareholders. The reporting
person intends to analyze a broad range of potential changes, focused on
maximizing the speed, certainty, and magnitude of the issuers previously
identified turnaround plan.
The Reporting Person may also propose or take one or more of the actions
described in subsections (a) through (j) of Item 4 of Schedule 13D and/or
change their intention with respect to any and all matters referred to in
Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) and (b) As of December 26, 2017, Nathan G. Miller is the owner of, and has
power to vote, dispose or direct the disposition of 1,136,727 shares of DM
Common Stock, representing 7.8% of the issued shares of DM Common Stock.
The percentages of the outstanding shares set forth above were calculated based
on 14.61 million shares of DM Common Stock issued as of December 26, 2017, as
disclosed in the Issuers Quarterly Report on Form 10-Q filed on December 7,
2017.
(c) Information concerning transactions in shares of DM Common
Stock effected during the past 60 days is set forth in Annex B to this Schedule
13D and incorporated herein by reference. For the avoidance of doubt, the
transaction was effected / securities were purchased in open market
transactions.
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Not applicable.
Item 7. Material to be Filed as Exhibits
Not applicable.
5
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned each certifies that the information with respect to it set forth
in this statement is true, complete and correct.
Nathan G. Miller
By: /s/ Nathan G. Miller
Name: Nathan G. Miller
Title: Individual
Dated: December 26, 2017
ANNEX A
Information Concerning Reporting Person
The following table sets forth the name, present principal occupation or
employment, and material occupations, positions, offices or employment of
Nathan G. Miller
I. Background / Name / Title / Identity
The current address of the reporting person is 347 Lukes Wood Road, New
Canaan, CT 06840, and the current business phone number of this individual
is (917) 826-0482.
The person listed below is a citizen of the United States of America. The
current business address is NGM Asset Management, LLC at 27 Pine Street,
Suite 700, New Canaan, CT 06840.
Name Principal Occupation or Employment
Nathan G. Miller Investor / Analyst
ANNEX B
Transactions Effected During the Past 60 Days
All of the purchases of shares of DM Common Stock listed below were made
through open market purchases.
Date of Trans. Quantity Average Purchase Price
12/15/2017 700 $2.59
12/15/2017 9,900.00 $2.59
12/15/2017 9,200.00 $2.59
12/15/2017 9,900.00 $2.57
12/15/2017 9,900.00 $2.58
12/15/2017 9,900.00 $2.55
12/15/2017 9,900.00 $2.57
12/15/2017 9,900.00 $2.56
12/15/2017 9,900.00 $2.56
12/8/2017 200 $2.51
12/8/2017 4,800.00 $2.51
12/7/2017 90 $2.38
12/7/2017 227 $2.32
12/7/2017 4,140.00 $2.36
12/7/2017 3,278.00 $2.36
12/7/2017 1,343.00 $2.37
12/7/2017 1,100.00 $2.37
12/7/2017 50 $2.36
12/7/2017 1,621.00 $2.37
12/7/2017 2,391.00 $2.37
12/7/2017 300 $2.37
11/17/2017 100 $2.70
11/6/2017 9,900.00 $2.53
11/6/2017 604 $2.49
11/6/2017 9,296.00 $2.49
11/3/2017 5,000.00 $2.42
11/3/2017 5,000.00 $2.38
11/2/2017 401 $2.33
11/2/2017 1,300.00 $2.34
11/2/2017 600 $2.34
11/1/2017 9,900.00 $2.30
11/1/2017 700 $2.28
11/1/2017 5,000.00 $2.28
11/1/2017 100 $2.29
11/1/2017 2,100.00 $2.29
11/1/2017 1,900.00 $2.32
11/1/2017 6,780.00 $2.34
11/1/2017 3,120.00 $2.37
11/1/2017 400 $2.37
11/1/2017 8,000.00 $2.37
11/1/2017 4,100.00 $2.38
11/1/2017 585 $2.38
11/1/2017 300 $2.38
11/1/2017 2,015.00 $2.38
11/1/2017 2,267.00 $2.39
11/1/2017 700 $2.42
11/1/2017 665 $2.41
11/1/2017 3,735.00 $2.44
10/31/2017 1,200.00 $2.24
10/31/2017 3,000.00 $2.26
10/31/2017 2,300.00 $2.27
10/31/2017 1,200.00 $2.28
10/31/2017 5,500.00 $2.28
10/31/2017 2,705.00 $2.30
10/31/2017 6,300.00 $2.31
10/30/2017 4,101.00 $2.48
10/30/2017 3,802.00 $2.48
10/30/2017 21,997.00 $2.48
10/30/2017 100 $2.48
10/30/2017 100 $2.43
10/30/2017 500 $2.43
10/30/2017 200 $2.43
10/30/2017 7,500.00 $2.46
10/30/2017 4,500.00 $2.48
10/30/2017 601 $2.44
10/30/2017 100 $2.43
10/30/2017 300 $2.43
10/30/2017 4,750.00 $2.43