UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Team, Inc. |
(Name of Issuer) |
Common Stock, $0.30 par value |
(Title of Class of Securities) |
878155100 |
(CUSIP Number) |
September 17, 2021 |
(Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
__________
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 |
878155100 |
1. | NAME OF REPORTING PERSONS | |
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | ||
Corre Opportunities Qualified Master Fund, LP | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | |
(a) [_] | ||
(b) [_] | ||
3. | SEC USE ONLY | |
4. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
Cayman Islands | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
5. | SOLE VOTING POWER | |
0 | ||
6. | SHARED VOTING POWER | |
1,910,551 | ||
7. | SOLE DISPOSITIVE POWER | |
0 | ||
8. | SHARED DISPOSITIVE POWER | |
1,910,551 | ||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
1,910,551 | ||
10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | |
[_] | ||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | |
6.17% | ||
12. |
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
CUSIP No |
878155100 |
1. | NAME OF REPORTING PERSONS | |
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | ||
Corre Partners Management, LLC | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | |
(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 | |
2,407,438 | ||
7. | SOLE DISPOSITIVE POWER | |
0 | ||
8. | SHARED DISPOSITIVE POWER | |
2,407,438 | ||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
2,407,438 | ||
10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | |
[_] | ||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | |
7.77% | ||
12. |
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA, OO |
CUSIP No |
878155100 |
1. | NAME OF REPORTING PERSONS | |
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | ||
Corre Partners Advisors, LLC | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | |
(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 | |
2,407,438 | ||
7. | SOLE DISPOSITIVE POWER | |
0 | ||
8. | SHARED DISPOSITIVE POWER | |
2,407,438 | ||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
2,407,438 | ||
10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | |
[_] | ||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | |
7.77% | ||
12. |
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
CUSIP No |
878155100 |
1. | NAME OF REPORTING PERSONS | |
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | ||
John Barrett | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | |
(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 | |
2,407,438 | ||
7. | SOLE DISPOSITIVE POWER | |
0 | ||
8. | SHARED DISPOSITIVE POWER | |
2,407,438 | ||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
2,407,438 | ||
10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | |
[_] | ||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | |
7.77% | ||
12. | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | |
IN, HC |
CUSIP No |
878155100 |
1. | NAME OF REPORTING PERSONS | |
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | ||
Eric Soderlund | ||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) | |
(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 | |
2,407,438 | ||
7. | SOLE DISPOSITIVE POWER | |
0 | ||
8. | SHARED DISPOSITIVE POWER | |
2,407,438 | ||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
2,407,438 | ||
10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | |
[_] | ||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | |
7.77% | ||
12. |
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN, HC |
Item 1. | (a). | Name of Issuer: | |
Team, Inc. |
(b). | Address of issuer's principal executive offices: | ||
13131 Dairy Ashford, Suite 600 Sugar Land, TX 77478 |
Item 2. | (a). | Name of persons filing: | |
Corre Opportunities Qualified Master Fund, LP Corre Partners Management, LLC Corre Partners Advisors, LLC John Barrett Eric Soderlund |
(b). | Address or principal business office or, if none, residence: | ||
12 East 49th Street, 40th Floor New York, New York 10017 |
(c). | Citizenship: | ||
Corre Opportunities Qualified Master Fund, LP – Cayman Islands Corre Partners Management, LLC – Delaware Corre Partners Advisors, LLC – Delaware John Barrett – United States of America Eric Soderlund – United States of America |
(d). | Title of class of securities: | ||
Common Stock, $0.30 par value |
(e). | CUSIP No.: | ||
878155100 |
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 |
(a) | [_] | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). |
(b) | [_] | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). |
(c) | [_] | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). |
(d) | [_] | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
(e) | [_] | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
(f) | [_] | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); |
(g) | [_] | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); |
(h) | [_] | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813); |
(i) | [_] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
(j) | [_] | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); |
(k) | [_] | Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
Item 4. | Ownership. |
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. |
(a) | Amount beneficially owned: | |
Corre Opportunities Qualified Master Fund, LP – 1,910,551 Shares Corre Partners Management, LLC – 2,407,438 Shares Corre Partners Advisors, LLC – 2,407,438 Shares John Barrett – 2,407,438 Shares Eric Soderlund – 2,407,438 Shares |
(b) | Percent of class: | |
Corre Opportunities Qualified Master Fund, LP – 6.17% Corre Partners Management, LLC – 7.77% Corre Partners Advisors, LLC – 7.77% John Barrett – 7.77% Eric Soderlund – 7.77% |
(c) | Number of shares as to which Corre Opportunities Qualified Master Fund, LP has: | |
(i) | Sole power to vote or to direct the vote | 0 | , | ||
(ii) | Shared power to vote or to direct the vote | 1,910,551 | , | ||
(iii) | Sole power to dispose or to direct the disposition of | 0 | , | ||
(iv) | Shared power to dispose or to direct the disposition of | 1,910,551 | . | ||
(c) | Number of shares as to which Corre Partners Management, LLC has: | |
(i) | Sole power to vote or to direct the vote | 0 | , | ||
(ii) | Shared power to vote or to direct the vote | 2,407,438 | , | ||
(iii) | Sole power to dispose or to direct the disposition of | 0 | , | ||
(iv) | Shared power to dispose or to direct the disposition of | 2,407,438 | . | ||
(c) | Number of shares as to which Corre Partners Advisors, LLC has: |
(i) | Sole power to vote or to direct the vote | 0 | , | ||
(ii) | Shared power to vote or to direct the vote | 2,407,438 | , | ||
(iii) | Sole power to dispose or to direct the disposition of | 0 | , | ||
(iv) | Shared power to dispose or to direct the disposition of | 2,407,438 | . | ||
(c) | Number of shares as to which John Barrett, LLC has: |
(i) | Sole power to vote or to direct the vote | 0 | , | ||
(ii) | Shared power to vote or to direct the vote | 2,407,438 | , | ||
(iii) | Sole power to dispose or to direct the disposition of | 0 | , | ||
(iv) | Shared power to dispose or to direct the disposition of | 2,407,438 | . | ||
(c) | Number of shares as to which Eric Soderlund, LLC has: |
(i) | Sole power to vote or to direct the vote | 0 | , | ||
(ii) | Shared power to vote or to direct the vote | 2,407,438 | , | ||
(iii) | Sole power to dispose or to direct the disposition of | 0 | , | ||
(iv) | Shared power to dispose or to direct the disposition of | 2,407,438 | . | ||
Instruction: For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1). | |
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. |
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. | |
Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. | |
See Exhibit B attached hereto. | |
Item 8. | Identification and Classification of Members of the Group. |
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group. | |
Item 9. | Notice of Dissolution of Group. |
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. | |
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, other than activities solely in connection with a nomination under § 240.14a-11. |
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.
September 27, 2021 | |||
(Date) | |||
Corre Opportunities Qualified Master Fund, LP* | |||
By: | Corre Partners Advisors, LLC, its general partner | ||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
Corre Partners Advisors, LLC* | |||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
Corre Partners Management, LLC* | |||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
John Barrett* | |||
/s/ John Barrett | |||
Eric Soderlund* | |||
/s/ Eric Soderlund | |||
* The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interests therein, and this report shall not be deemed an admission that such person is the beneficial owner of these securities for purposes of Section 16 of the U.S. Securities Exchange Act of 1934, as amended, or for any other purpose.
The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.
Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent.
Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).
Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13G, Amendment 1 dated September 27, 2021 relating to the Common Stock, $0.30 par value of Team, Inc. shall be filed on behalf of the undersigned.
September 27, 2021 | |||
(Date) | |||
Corre Opportunities Qualified Master Fund, LP | |||
By: | Corre Partners Advisors, LLC, its general partner | ||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
Corre Partners Advisors, LLC | |||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
Corre Partners Management, LLC | |||
By: | /s/ John Barrett | ||
Name: | John Barrett | ||
Title: | Managing Member | ||
John Barrett | |||
/s/ John Barrett | |||
Eric Soderlund | |||
/s/ Eric Soderlund |
Exhibit B
Corre Opportunities Qualified Master Fund, LP, Corre Partners Management, LLC, and Corre Partners Advisors, LLC are the relevant entities for which each of John Barrett and Eric Soderlund may be considered a control person.