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Form SC 13G/A LORAL SPACE & COMMUNICAT Filed by: COOPERMAN LEON G

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February 5, 2016 12:25 PM EST

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No 1)*

 

LORAL SPACE & COMMUNICATIONS INC.
 (Name of Issuer)
 
Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)
 
543881106
(CUSIP Number)
 
December 31, 2015
(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

  [  ] Rule 13d-1(b)
     
  [X ] Rule 13d-1(c)
     
  [  ] Rule 13d-1(d)

 

* 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 the disclosures provided in a prior cover page.

 

The information required in 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). 

 

 
 

 

CUSIP No.  543881106   Page 2 of 5

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE  PERSONS
(ENTITIES ONLY) 

 LEON G. COOPERMAN

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) [ ]

(b) [x ]

 

3

 

SEC USE ONLY

 

  

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 United States
NUMBER OF
SHARES		 5 SOLE VOTING POWER 1,165,456
BENEFICIALLY
OWNED BY		 6 SHARED VOTING POWER 493,591
EACH
REPORTING		 7 SOLE DISPOSITIVE POWER 1,165,456
PERSON
WITH:		 8 SHARED DISPOSITIVE POWER 493,591

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 1,659,047

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 [  ]

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

 7.7 %

 

12

 

TYPE OF REPORTING PERSON

 

 IN
         

 

 

 

 

CUSIP No.  543881106   Page 3 of 5

 

Item 1(a).   Name of Issuer:
    LORAL SPACE & COMMUNICATIONS INC.
     
     
Item 1(b).   Address of Issuer’s Principal Executive Offices:
   

565 Fifth Avenue

New York NY 10017

     
Item 2(a).   Name of Person Filing:
   

Leon G. Cooperman (“Mr. Cooperman”).  Mr. Cooperman is the Managing Member of Omega Associates, L.L.C. (“Associates”), a limited liability company organized under the laws of the State of Delaware. Associates is a private investment firm formed to invest in and act as general partner of investment partnerships or similar investment vehicles. Associates is the general partner of limited partnerships organized under the laws of Delaware known as Omega Capital Partners, L.P. (“Capital LP”), Omega Capital Investors, L.P. (“Investors LP”), and Omega Equity Investors, L.P. (“Equity LP”). These entities are private investment firms engaged in the purchase and sale of securities for investment for their own accounts.

 

    Mr. Cooperman is the President, CEO, and majority stockholder of Omega Advisors, Inc. (“Advisors”), a Delaware corporation, engaged in providing investment management services, and Mr. Cooperman is deemed to control said entity.

 

    Advisors serves as the investment manager to Omega Overseas Partners, Ltd. (“Overseas”), a Cayman Island exempted company, with a registered address at c/o Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands, British West Indies. Mr. Cooperman has investment discretion over Overseas’ portfolio investments and is deemed to control such investments.

 

    Advisors serve as a discretionary investment advisor to a limited number of institutional clients (the “Managed Accounts”).  As to the Shares owned by the Managed Accounts, there would be shared power to dispose or to direct the disposition of such Shares because the owners of the Managed Accounts may be deemed beneficial owners of such Shares pursuant to Rule 13d-3 under the Act as a result of their right to terminate the discretionary account within a period of 60 days.

 

    Mr. Cooperman is the ultimate controlling person of Associates, Capital LP, Investors LP, Equity LP, Overseas, and Advisors.  The principal business office of Capital LP, Investors LP, Equity LP, Overseas, and Advisors is 810 Seventh Avenue, 33rd floor, New York, New York 10019.

     

     
Item 2(b).   Address of Principal Business Office or, if None, Residence:
    11431 W. Palmetto Park Road, Boca Raton FL 33428
     
Item 2(c).   Citizenship:
    United States
     
Item 2(d).   Title of Class of Securities:
    Common Stock, Par Value $0.01 Per Share ( the “Shares”)
     
Item 2(e).   CUSIP Number:
    543881106
 

 

CUSIP No.  543881106   Page 4 of 5

 

Item 3. If this Statement is Filed Pursuant to Sections 240.13d-1(b), or 240.13d-2(b) or (c);
   
  This Item 3 is inapplicable.
   
Item 4. Ownership.
  Provide the following information regarding the aggregate number and percentage of the class of securities of the Issuer identified in Item 1.
   
  (a)(b)

Amount beneficially owned and percent of Class:

 

    Mr. Cooperman may be deemed the beneficial owner of 1,659,047 Shares, which constitutes approximately 7.7 % of the total number of Shares outstanding. This consists of 354,436 Shares owned by Capital LP; 162,888 Shares owned by Investors LP; 190,900 Shares owned by Equity LP; 457,232 Shares owned by Overseas; and 493,591Shares owned by Managed Accounts.
     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote
      1,165,456
       
    (ii) Shared power to vote or to direct the vote
      493,591
       
    (iii) Sole power to dispose or to direct the disposition of
      1,165,456
       
    (iv) Shared power to dispose or to direct the disposition of
      493,591
       

 

 

 

CUSIP No.  543881106   Page 5 of 5

 

Item 5. Ownership of Five Percent or Less of a Class.
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [  ]
   
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
  This Item 6 is not applicable.
   
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
  This Item 7 is not applicable.
   
Item 8. Identification and Classification of Members of the Group.
  This Item 8 is not applicable.
   
Item 9. Notice of Dissolution of Group.
  This Item 9 is not applicable.
   
Item 10. Certification.

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

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.

 

  Date: February 4, 2016  
       
  Signature: /s/ Alan M. Stark  
  Name: Alan M. Stark  
  Title:

Attorney In Fact

Duly authorized under POA effective as of March 1,2013 and filed on May 20, 2013

  
         

 

 

 

 

 


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