SEC Form 4
| FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol BALLANTYNE STRONG, INC. [ BTN ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 10/26/2020 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/26/2020 | P | 390(4) | A | $1.5383(5) | 2,082,877(1)(2)(3) | I | FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/26/2020 | P | 210(4) | A | $1.5383(5) | 213,362(1)(2)(3) | I | FGI GLOBAL ASSET ALLOCATION MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/27/2020 | P | 3,162(4) | A | $1.5821(6) | 2,086,039(1)(2)(3) | I | FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/27/2020 | P | 1,703(4) | A | $1.5821(6) | 215,065(1)(2)(3) | I | FGI GLOBAL ASSET ALLOCATION MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/28/2020 | P | 1,365(4) | A | $1.6 | 2,087,404(1)(2)(3) | I | FUNDAMENTAL GLOBAL PARTNERS MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 10/28/2020 | P | 735(4) | A | $1.6 | 215,800(1)(2)(3) | I | FGI GLOBAL ASSET ALLOCATION MASTER FUND, LP | ||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 1,793,591(1)(2)(3) | I | FUNDAMENTAL ACTIVIST FUND I, LP | |||||||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 853,619(1)(2)(3) | I | FUNDAMENTAL GLOBAL HOLDINGS, LP | |||||||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 34,911(1)(2)(3) | I | FGI GLOBAL ASSET ALLOCATION FUND, LTD. | |||||||
| COMMON STOCK, PAR VALUE $0.01 PER SHARE | 24,300(1)(2)(3) | I | FUNDAMENTAL GLOBAL CAPITAL APPRECIATION FUND, LP | |||||||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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| Explanation of Responses: |
| 1. The funds managed by Fundamental Global Investors, LLC beneficially own in the aggregate 5,009,625 shares of Common Stock, which represents approximately 33.9% of the Company's outstanding shares of Common Stock. Fundamental Global Investors, LLC may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by Fundamental Global Partners Master Fund, LP ("FGPM"), Fundamental Global Holdings, LP ("FGHP"), FGI Global Asset Allocation Fund, Ltd. ("FGAA"), FGI Global Asset Allocation Master Fund, LP ("FGGM"), Fundamental Activist Fund I, LP ("FAFI") and Fundamental Global Capital Appreciation Fund, LP ("FGCA"). |
| 2. In addition, CWA Asset Management Group, LLC, of which 50% is owned by Fundamental Global Investors, LLC, holds 606,566 shares of Common Stock (excluding Messrs. Cerminara's, Johnson's and Moglia's shares held in CWA accounts) for the accounts of individual investors, which represents approximately 4.2% of the Company's outstanding shares of Common Stock. Mr. Moglia holds 636,291 shares of Common Stock directly and through the Moglia Family Foundation and trusts. Messrs. Cerminara and Johnson also hold additional shares of Common Stock. |
| 3. Due to their positions with Fundamental Global Investors, LLC and affiliated entities, Messrs. D. Kyle Cerminara, Lewis M. Johnson and Joseph H. Moglia may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by FGPM, FGHP, FGAA, FGGM, FAFI and FGCA. Each Reporting Person disclaims beneficial ownership of the shares referred to herein except to the extent of his or its pecuniary interest therein. |
| 4. Shares purchased pursuant to a Rule 10b5-1 trading plan entered into by Fundamental Global Investors, LLC on behalf of the funds managed by it. |
| 5. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.53 and $1.55 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price. |
| 6. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.54 and $1.60 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price. |
| Remarks: |
| FUNDAMENTAL GLOBAL INVESTORS, LLC/S/ D. KYLE CERMINARA, CHIEF EXECUTIVE OFFICER, PARTNER AND MANAGER | 10/28/2020 | |
| /S/ D. KYLE CERMINARA | 10/28/2020 | |
| /S/ LEWIS M. JOHNSON | 10/28/2020 | |
| /S/ JOSEPH H. MOGLIA | 10/28/2020 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||