SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.1)*
Tivity Health, Inc.
(Name of Issuer)
Common Stock - $.001 par value per share
(Title of Class of Securities)
88870R102
(CUSIP Number)
Altaris Capital, L.P.
10 East
53rd Street, 31st Floor
New York, New York 10022
Telephone: (212) 931-0250
Copy to:
Steve Isaacs, Esq.
Schiff Hardin LLP
233 S. Wacker Drive, Suite 7100
Chicago, Illinois 60606
Telephone: (312) 258-5500
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 27, 2019
(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 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.
*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).
CUSIP No. 88870R102
|
13D |
Page 2 of 8 Pages |
1 | NAMES OF REPORTING PERSONS | ||
Altaris Capital, L.P. | |||
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) AF, WC | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER
3,821,532 Shares* | |
8 |
SHARED VOTING POWER
| ||
9 |
SOLE DISPOSITIVE POWER
3,821,532 Shares* | ||
10 |
SHARED DISPOSITIVE POWER
| ||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,821,532 Shares* | ||
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)
8.01%** | ||
14 |
TYPE OF REPORTING PERSON (See Instructions) PN |
* Reflects ownership as of the date of this filing.
** Based on 47,702,306 shares of common stock, $0.001 par value per share, of Tivity Health, Inc. outstanding as of April 30, 2019, as reported on Tivity Health, Inc.’s Form 10-Q filed with the Securities and Exchange Commission on May 9, 2019.
Page 2 of 8 Pages |
CUSIP No. 88870R102
|
13D |
Page 3 of 8 Pages |
1 | NAMES OF REPORTING PERSONS | ||
Altaris Partners, LLC | |||
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) AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER
| |
8 |
SHARED VOTING POWER
3,821,532 Shares* | ||
9 |
SOLE DISPOSITIVE POWER
| ||
10 |
SHARED DISPOSITIVE POWER
3,821,532 Shares* | ||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,821,532 Shares* | ||
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)
8.01%** | ||
14 |
TYPE OF REPORTING PERSON (See Instructions) OO | ||
* Reflects ownership as of the date of this filing.
** Based on 47,702,306 shares of common stock, $0.001 par value per share, of Tivity Health, Inc. outstanding as of April 30, 2019, as reported on Tivity Health, Inc.’s Form 10-Q filed with the Securities and Exchange Commission on May 9, 2019.
Page 3 of 8 Pages |
CUSIP No. 88870R102
|
13D |
Page 4 of 8 Pages |
1 | NAMES OF REPORTING PERSONS | ||
George Aitken-Davies | |||
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) AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] | ||
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION United Kingdom | ||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 |
SOLE VOTING POWER
| |
8 |
SHARED VOTING POWER
3,821,532 Shares* | ||
9 |
SOLE DISPOSITIVE POWER
| ||
10 |
SHARED DISPOSITIVE POWER
3,821,532 Shares* | ||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,821,532 Shares* | ||
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)
8.01%** | ||
14 |
TYPE OF REPORTING PERSON (See Instructions) IN | ||
* Reflects ownership as of the date of this filing.
** Based on 47,702,306 shares of common stock, $0.001 par value per share, of Tivity Health, Inc. outstanding as of April 30, 2019, as reported on Tivity Health, Inc.’s Form 10-Q filed with the Securities and Exchange Commission on May 9, 2019.
Page 4 of 8 Pages |
CUSIP No. 88870R102
|
13D |
Page 5 of 8 Pages |
1 | NAMES OF REPORTING PERSONS | ||
Daniel Tully | |||
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) AF | ||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 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
| |
8 |
SHARED VOTING POWER
3,821,532 Shares* | ||
9 |
SOLE DISPOSITIVE POWER
| ||
10 |
SHARED DISPOSITIVE POWER
3,821,532 Shares* | ||
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,821,532 Shares* | ||
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)
8.01%** | ||
14 |
TYPE OF REPORTING PERSON (See Instructions) IN | ||
* Reflects ownership as of the date of this filing.
** Based on 47,702,306 shares of common stock, $0.001 par value per share, of Tivity Health, Inc. outstanding as of April 30, 2019, as reported on Tivity Health, Inc.’s Form 10-Q filed with the Securities and Exchange Commission on May 9, 2019.
Page 5 of 8 Pages |
This constitutes Amendment No. 1 to the Schedule 13D relating to the shares of Common Stock, par value $0.001 per share, of Tivity Health, Inc., a Delaware corporation (the “Issuer”), filed with the Securities and Exchange Commission (the “SEC”) on May 24, 2019 (the “Schedule 13D”), and hereby amends the Schedule 13D to furnish the additional information set forth herein. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 of the Schedule 13D is hereby amended and restated by replacing it in its entirety with the following:
The Reporting Persons may be deemed to be the beneficial owner of, in the aggregate, 3,821,532 shares of Common Stock. The purchase prices for these shares of Common Stock, including brokerage commissions, are set forth below in Item 5, which are incorporated by reference herein. The source of the purchase prices for the shares of Common Stock was from the general working capital of Altaris Capital and from contributions to Altaris Capital from one of its investors. Such working capital and contributions were primarily funded through borrowings under a line of credit with JPMorgan Chase Bank, N.A., which borrowings have been and will be paid down from the proceeds of investor capital calls.
Item 5. | Interest in Securities of Issuer. |
Item 5 of the Schedule 13D is hereby amended and restated by replacing it in its entirety with the following:
The Reporting Persons’ total beneficial ownership amounts to 3,821,532 shares of Common Stock, constituting 8.01% of the outstanding shares of Common Stock of the Issuer (based on 47,702,306 shares of Common Stock of the Issuer outstanding as of April 30, 2019, as reported on the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on May 9, 2019).
Altaris Capital has sole voting and sole dispositive power with regard to 3,821,532 shares of Common Stock. Each of Altaris Partners, Mr. Aitken-Davies, and Mr. Tully has shared voting power and shared dispositive power with regard to all such shares of Common Stock. Each of Altaris Partners, Mr. Aitken-Davies, and Mr. Tully, by virtue of their relationships to Altaris Capital (as disclosed in Item 2), may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) the shares of Common Stock which Altaris Capital directly beneficially owns. Each of Altaris Partners, Mr. Aitken-Davies, and Mr. Tully disclaims beneficial ownership of such shares of Common Stock for all other purposes. No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock described in this Item 5 that are beneficially owned by the Reporting Persons.
Page 6 of 8 Pages |
The following sets forth all transactions with respect to shares of Common Stock effected during the past sixty (60) days by or for the benefit of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time on June 28, 2019. All such transactions were purchases of shares of Common Stock effected by or for the benefit of Altaris Capital in the open market, and the table includes commissions paid in per share prices.
Date of Transaction | Amount of Securities | Price Per Share1 |
April 30, 2019 | 167,907 | $21.5267 |
May 02, 2019 | 100,000 | $21.9124 |
May 07, 2019 | 50,000 | $22.5057 |
May 08, 2019 | 100,000 | $21.9271 |
May 09, 2019 | 650,000 | $20.7859 |
May 10, 2019 | 250,649 | $19.3666 |
May 13, 2019 | 60,418 | $18.2282 |
May 14, 2019 | 138,059 | $18.7606 |
May 15, 2019 | 34,507 | $18.7524 |
May 16, 2019 | 12,416 | $18.6800 |
May 17, 2019 | 25,911 | $18.8072 |
May 20, 2019 | 187,452 | $18.4932 |
May 22, 2019 | 250,000 | $18.2844 |
May 23, 2019 | 250,000 | $18.0286 |
May 29, 2019 | 14,477 | $18.2775 |
May 30, 2019 | 96,873 | $18.1892 |
May 31, 2019 | 27,220 | $18.1476 |
June 6, 2019 | 25,000 | $18.7599 |
June 11, 2019 | 50,000 | $18.4339 |
June 12, 2019 | 98,106 | $18.2860 |
June 13, 2019 | 43,637 | $18.2495 |
June 14, 2019 | 5,900 | $18.1486 |
June 18, 2019 | 14,286 | $18.1625 |
June 19, 2019 | 43,640 | $18.0213 |
June 20, 2019 | 25,000 | $17.9176 |
June 21, 2019 | 25,000 | $17.1770 |
June 27, 2019 | 85,600 | $16.4312 |
June 28, 2019 | 50,000 | $16.4590 |
1 The prices reported reflect the average purchase prices for each such day. The Reporting Persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions for any such day were effected.
Page 7 of 8 Pages |
SIGNATURE
After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: June 28, 2019
ALTARIS CAPITAL, L.P., | ||
By: | Altaris Partners, LLC, its general partner | |
By: | /s/ George Aitken-Davies | |
Name: George Aitken-Davies | ||
Title: Manager | ||
ALTARIS PARTNERS, LLC | ||
By: | /s/ George Aitken-Davies | |
Name: George Aitken-Davies | ||
Title: Manager | ||
/s/ George Aitken-Davies | ||
George Aitken-Davies | ||
/s/ Daniel Tully | ||
Daniel Tully | ||
Page 8 of 8 Pages