*
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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.
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CUSIP No. 69888T207
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13D
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Page 2 of 7
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1
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NAMES OF REPORTING PERSONS
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Chai Trust Company, LLC
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||||
2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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☒
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(b)
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☐
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||||
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||||
3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS)
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OO
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||||
5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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||||
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Illinois
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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0
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8
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SHARED VOTING POWER
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5,905,781
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9
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SOLE DISPOSITIVE POWER
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0
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||||
10
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SHARED DISPOSITIVE POWER
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5,905,781
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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5,905,781
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||||
12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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||||
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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9.8% (1)
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO
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|||
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(1)
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Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
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CUSIP No. 69888T207
|
13D
|
Page 3 of 7
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1
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NAMES OF REPORTING PERSONS
|
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ZELL CREDIT OPPORTUNITIES MASTER FUND, L.P.
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|||
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||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☒
|
||
(b)
|
☐
|
||||
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|
||||
3
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SEC USE ONLY
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|||
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4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
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OO
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|||
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||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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|
☐
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||||
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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0
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||||
8
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SHARED VOTING POWER
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2,557,351
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9
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SOLE DISPOSITIVE POWER
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0
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||||
10
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SHARED DISPOSITIVE POWER
|
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||
2,557,351
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||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
2,557,351
|
|
|
|||
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|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
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|
||||
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|
||||
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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4.3% (1)
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||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
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||
PN
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|||
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|
(1)
|
Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
|
CUSIP No. 69888T207
|
13D
|
Page 4 of 7
|
1
|
NAMES OF REPORTING PERSONS
|
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EGI INVESTORS, L.L.C.
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|||
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|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☒
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
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|||
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|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
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||
WC
|
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|
|||
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|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 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
|
|
|
|
0
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
3,348,430
|
|
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|||
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|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
3,348,430
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
3,348,430
|
|
|
|||
|
|
||||
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)
|
|
|
||
5.6% (1)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
(1)
|
Calculated based on 60,120,255 shares of Common Stock outstanding as of April 29, 2022 as disclosed in the Issuer’s quarterly report on Form 10-Q filed May 6, 2022.
|
CUSIP No. 69888T207
|
13D
|
Page 5 of 7
|
ITEM 4. |
Purpose of Transaction.
|
ITEM 5. |
Interest in Securities of the Issuer.
|
ITEM 7. |
Materials to be Filed as Exhibits
|
Exhibit 10: |
Schedule of Transactions, in response to Item 5(c)
|
CUSIP No. 69888T207
|
13D
|
Page 6 of 7
|
ZELL CREDIT OPPORTUNITIES MASTER FUND, L.P. | |||
By: | Chai Trust Company, LLC, its general partner | ||
|
By:
|
/s/ Joseph Miron | |
Name: Joseph Miron | |||
Title: Chief Legal Officer | |||
EGI INVESTORS, L.L.C. | |||
|
By:
|
/s/ Joseph Miron | |
Name: Joseph Miron | |||
Title: Vice President | |||
CUSIP No. 69888T207
|
13D
|
Page 7 of 7
|
Name of Account
|
Date of
Transaction
|
Nature of
Transaction
|
Quantity of
Shares
|
Weighted-Average
Price Per Share
|
Master Fund
|
6/10/22
|
Sale
|
60,000
|
$19.3753 (1)
|
Master Fund
|
6/13/22
|
Sale
|
97,614
|
$18.1815 (2)
|
Master Fund
|
6/13/22
|
Sale
|
2,386
|
$18.7881 (3)
|
Master Fund
|
6/14/22
|
Sale
|
49,221
|
$18.0608 (4)
|
Master Fund
|
6/14/22
|
Sale
|
13,465
|
$18.7283 (5)
|
Master Fund
|
6/15/22
|
Sale
|
60,000
|
$17.7204 (6)
|
Master Fund
|
6/16/22
|
Sale
|
60,000
|
$17.1683 (7)
|
Master Fund
|
6/17/22
|
Sale
|
56,190
|
$16.1357 (8)
|
Master Fund
|
6/17/22
|
Sale
|
3,810
|
$17.0607 (9)
|
Master Fund
|
6/21/22
|
Sale
|
50,000
|
$16.9774 (10)
|
Master Fund
|
6/22/22
|
Sale
|
50,000
|
$16.3836 (11)
|
Master Fund
|
6/23/22
|
Sale
|
48,887
|
$15.5771 (12)
|
Master Fund
|
6/23/22
|
Sale
|
1,113
|
$16.2969 (13)
|
Master Fund
|
6/24/22
|
Sale
|
50,000
|
$15.7557 (14)
|
Master Fund
|
6/27/22
|
Sale
|
70,000
|
$16.2913 (15)
|
2. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $17.72 to $18.71, inclusive.
|
3. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $18.72 to $18.84, inclusive.
|
4. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $17.58 to $18.56, inclusive.
|
5. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $18.59 to $18.92, inclusive.
|
6. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $17.445 to $18.04, inclusive.
|
7. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.94 to $17.43, inclusive.
|
8. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.88 to $16.87, inclusive.
|
9. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.94 to $17.17, inclusive.
|
10. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.64 to $17.19, inclusive.
|
11. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.11 to $16.82, inclusive.
|
12. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.19 to $16.18, inclusive.
|
13. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.19 to $16.35, inclusive.
|
14. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $15.42 to $16.00, inclusive.
|
15. |
This price is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $16.02 to $16.52, inclusive.
|