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CUSIP No. 37951D102 | | 13D/A | | Page 5 of 7 Pages |
Introduction
This Amendment No. 6 to Schedule 13D (this “Amendment No. 6”) amends the Statement on Schedule 13D filed on February 8, 2013 (the “Original 13D”), as amended by Amendment No. 1 to Schedule 13D filed on October 24, 2013 (“Amendment No. 1”), Amendment No. 2 to Schedule 13D filed on December 24, 2013 (“Amendment No. 2”), Amendment No. 3 to Schedule 13D filed on May 22, 2014 (“Amendment No. 3”), Amendment No. 4 to Schedule 13D filed on November 15, 2016 (“Amendment No. 4”), and Amendment No. 5 to Schedule 13D filed on January 5, 2017 (“Amendment No. 5”, and, together with the Original 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, and Amendment No. 4, the “Schedule 13D”), and is being filed by PAR Investment Partners, L.P., a Delaware limited partnership (“PAR Investment Partners”), PAR Group II, L.P., a Delaware limited partnership (“PAR Group II”), and PAR Capital Management, Inc., a Delaware corporation (“PAR Capital Management” and, together with PAR Investment Partners and PAR Group II, the “Reporting Persons”), and relates to shares of common stock (the “Common Stock”), par value $0.0001 per share (the “Shares”), of Global Eagle Entertainment Inc., a Delaware corporation (the “Issuer”).
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Schedule 13D. The Schedule 13D is amended on a supplementary basis as follows; all items or responses not described herein, or exhibits not filed herewith, remain as previously reported in, or filed with, the Schedule 13D.
ITEM 4. | PURPOSE OF TRANSACTION. |
Stock Purchase Agreement
On June 4, 2019, PAR Investment Partners entered into stock purchase agreements (the “Stock Purchase Agreements”) with various purchasers (each a “Purchaser” and together, the “Purchasers”) pursuant to which the Purchasers agreed to buy and PAR Investment Partners agreed to sell an aggregate of 28,981,072 shares of the Issuer’s Common Stock at a price per share of $0.25 in privately negotiated sales transactions. The Stock Purchase Agreements contain customary representations, warranties and covenants of the parties. The transactions contemplated by the Stock Purchase Agreements are expected to be consummated on June 6, 2019 through customary T+2 settlement.
The foregoing description of the Stock Purchase Agreements does not purport to be complete and is qualified in its entirety by reference to the text of the form of Stock Purchase Agreement, which is included as Exhibit 1.1 to this Amendment No. 6 and is incorporated by reference herein.
ITEM 5. | INTEREST IN SECURITIES OF THE ISSUER. |
(a) and (b) As of June 6, 2019, none of PAR Investment Partners, PAR Group II or PAR Capital Management holds any shares of the Issuer’s Common Stock.
(c) The information set forth in Item 4 hereof is hereby incorporated by reference into this Item 5.
(d) Not applicable.
(e) On June 4, 2019, PAR Investment Partners ceased to be the beneficial owner of more than five percent of the Issuer’s Common Stock.
ITEM 6. | CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. |
The information set forth in Item 4 hereof is hereby incorporated by reference into this Item 6.