UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Bravo Brio Restaurant Group, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
10567B109
(CUSIP Number)
James L. Wolfe
TAC Capital LLC
One Momentum Blvd., Suite 1000
College Station, Texas 77845
(979)776-1111
with a copy to:
Michael G. Keeley
Norton Rose Fulbright US LLP
2200 Ross Avenue, Suite 3600
Dallas, Texas 75201
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 14, 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 that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),240.13d-1(f) or240.13d-1(g), check the following box. ☒
* | 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).
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1 | | Name of Reporting Person TAC Capital LLC |
2 | | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒ |
3 | | SEC Use Only |
4 | | Source of Funds 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 0 |
| 8 | | Shared Voting Power 2,200,459 |
| 9 | | Sole Dispositive Power 0 |
| 10 | | Shared Dispositive Power 2,200,459 |
11 | | Aggregate Amount Beneficially Owned by Each Reporting Person 2,200,459 |
12 | | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares ☐ |
13 | | Percent of Class Represented by Amount in Row 11 14.5% (1) |
14 | | Type of Reporting Person OO |
(1) | Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form10-K for the fiscal year ended December 25, 2016 filed with the Securities and Exchange Commission (“SEC”) on March 6, 2017. |
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1 | | Name of Reporting Person TAC Financial Corporation |
2 | | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒ |
3 | | SEC Use Only |
4 | | Source of Funds N/A |
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 0 |
| 8 | | Shared Voting Power 2,200,459 |
| 9 | | Sole Dispositive Power 0 |
| 10 | | Shared Dispositive Power 2,200,459 |
11 | | Aggregate Amount Beneficially Owned by Each Reporting Person 2,200,459 |
12 | | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares ☐ |
13 | | Percent of Class Represented by Amount in Row 11 14.5% (1) |
14 | | Type of Reporting Person CO |
(1) | Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form10-K for the fiscal year ended December 25, 2016 filed with the SEC on March 6, 2017. |
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1 | | Name of Reporting Person The Adam Corporation/Group |
2 | | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒ |
3 | | SEC Use Only |
4 | | Source of Funds N/A |
5 | | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐ |
6 | | Citizenship or Place of Organization Texas |
Number of Shares Beneficially Owned by Each Reporting Person With | | 7 | | Sole Voting Power 0 |
| 8 | | Shared Voting Power 2,200,459 |
| 9 | | Sole Dispositive Power 0 |
| 10 | | Shared Dispositive Power 2,200,459 |
11 | | Aggregate Amount Beneficially Owned by Each Reporting Person 2,200,459 |
12 | | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares ☐ |
13 | | Percent of Class Represented by Amount in Row 11 14.5% (1) |
14 | | Type of Reporting Person CO |
(1) | Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form10-K for the fiscal year ended December 25, 2016 filed with the SEC on March 6, 2017. |
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1 | | Name of Reporting Person Donald A. Adam |
2 | | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒ |
3 | | SEC Use Only |
4 | | Source of Funds N/A |
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 of America |
Number of Shares Beneficially Owned by Each Reporting Person With | | 7 | | Sole Voting Power 0 |
| 8 | | Shared Voting Power 2,200,459 |
| 9 | | Sole Dispositive Power 0 |
| 10 | | Shared Dispositive Power 2,200,459 |
11 | | Aggregate Amount Beneficially Owned by Each Reporting Person 2,200,459 |
12 | | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares ☐ |
13 | | Percent of Class Represented by Amount in Row 11 14.5% (1) |
14 | | Type of Reporting Person IN |
(1) | Based on 15,142,340 common shares, no par value per share, of the Issuer issued and outstanding as of March 6, 2017, as reported by the Issuer in its Form10-K for the fiscal year ended December 25, 2016 filed with the SEC on March 6, 2017. |
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Explanatory Note
This Amendment No. 1 to Schedule 13D (this “Amendment No. 1”) amends the Schedule 13D (the “Schedule 13D”) filed by TAC Capital LLC, a Delaware limited liability company, on January 19, 2017 with respect to common shares, no par value per share, of Bravo Brio Restaurant Group, Inc., an Ohio corporation (the “Issuer”).
On March 14, 2017, Mr. Adam sent an open letter to the Issuer’s board of directors, highlighting recent poor performance and shareholder value destruction, identifying current corporate governance issues, and raising concerns about the recently announced decisions to engage investment bankers and delay the 2017 annual meeting of shareholders.
This Amendment No. 1 amends Item 4 and Item 7, as specifically set forth herein. Unless amended or supplemented by this Amendment No. 1, all information previously reported on the Schedule 13D remains in effect.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended by the addition of the following sentences at the end of the third paragraph:
On March 14, 2017, Mr. Adam sent an open letter to the Issuer’s board of directors, highlighting recent poor performance and shareholder value destruction, identifying current corporate governance issues, and raising concerns about the recently announced decisions to engage investment bankers and delay the 2017 annual meeting of shareholders. A copy of the letter is attached as Exhibit 99.3.
Item 7. Materials to be Filed as Exhibits
Item 7 of the Schedule 13D is hereby amended to add the following exhibit:
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Exhibit 99.3: | | Open letter sent to the Board of Directors of Bravo Brio Restaurant Group, Inc., dated March 14, 2017. |
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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.
Dated: March 14, 2017
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TAC CAPITAL LLC |
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By: | | /s/ James L. Wolfe |
| | Name: James L. Wolfe |
| | Title: Vice President |
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TAC FINANCIAL CORPORATION |
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By: | | /s/ James L. Wolfe |
| | Name: James L. Wolfe |
| | Title: Vice President |
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THE ADAM CORPORATION/GROUP |
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By: | | /s/ James L. Wolfe |
| | Name: James L. Wolfe |
| | Title: President |
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DONALD A. ADAM |
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/s/ Donald A. Adam |
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EXHIBIT INDEX
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Exhibit No. | | Description |
99.3 | | Open letter sent to the Board of Directors of Bravo Brio Restaurant Group, Inc., dated March 14, 2017. |
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