This Amendment No. 2 (“Amendment No. 2”) amends and supplements the statement on Schedule 13D, dated July 29, 2016, as amended by Amendment No. 1 to the statement on Schedule 13D, dated July 6, 2017 (so amended, the “Schedule 13D”), and is being filed with the Securities and Exchange Commission by Bruce Grossman, relating to the shares of common stock, $0.01 par value per share (the “Common Stock”) of SG Blocks, Inc., a Delaware corporation (the “Issuer”). This Amendment No. 2 is being filed to report dispositions of beneficial ownership of shares of Common Stock which have caused Mr. Grossman to be the beneficial owner of less than five percent of the Issuer’s Common Stock.
Item 5. Interest in Securities of the Issuer.
The information contained in Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:
(a) – (c) All calculations of percentage ownership of this Schedule 13D are based on a total of 4,260,041 shares of Common Stock outstanding as of August 10, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2018.
This Amendment No. 2 reflects transactions through and including the close of business on August 22, 2018. Mr. Grossman may be deemed to be the beneficial owner of 64,723 shares of Common Stock, constituting approximately 1.5% of the outstanding shares of Common Stock of the Issuer.
The shares of Common Stock reported on this Schedule 13D are indirectly beneficially owned by Mr. Grossman. Dillon Hill Capital, LLC, of which Mr. Grossman is the sole member, directly owns 64,723 shares of Common Stock. By virtue of the relationships described above, Mr. Grossman may be deemed to have sole voting and dispositive power over the shares held by Dillon Hill Capital, LLC.
The following table sets forth the transactions in the Common Stock effected during the past 60 days by Dillon Hill Capital, LLC and Dillon Hill Investment Company, LLC, the sole member of which is a trust of which Mr. Grossman’s spouse is a co-trustee. All such transactions were effected in the open market. As a result of the transactions described herein, Dillon Hill Investment Company, LLC no longer directly owns shares of Common Stock.
Transaction Date | Number of Shares Purchased | Price Per Share |
Dillon Hill Capital, LLC |
08/10/2018 | 6,600 | $4.757 |
08/15/2018 | 74,712 | $4.0798 |
08/20/2018 | 2,153 | $4.0071 |
08/21/2018 | 23,812 | $4.0772 |
08/22/2018 | 75,000 | $3.8669 |
Dillon Hill Investment Company, LLC |
08/10/2018 | 3,400 | $4.757 |
08/14/2018 | 2,436 | $4.5837 |
08/14/2018 | 4,729 | $4.5837 |
08/15/2018 | 38,488 | $4.0798 |
08/16/2018 | 14,100 | $4.1256 |
08/17/2018 | 52,500 | $4.1179 |
08/20/2018 | 7,847 | $4.0071 |
(d) Not applicable.
(e) As a result of the consummation of the transactions described in this Item 4, Mr. Grossman has ceased to be the beneficial owner of more than five percent of the shares of Common Stock.