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Form SC 13D/A PROVIDENCE SERVICE CORP Filed by: Coliseum Capital Management, LLC

June 4, 2018 6:04 AM

CUSIP No. 743815102 (Common Stock)

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 11)*

 

 

The Providence Service Corporation

(Name of Issuer)

Common Stock, Par Value $0.001 Per Share

(Title of Class of Securities)

743815102

(CUSIP Number)

Christopher Shackelton/Adam Gray

105 Rowayton Ave.

Rowayton, CT 06853

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 30, 2018

(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 sections 240.13d-1(e), 240.13d-1(f) or 140.13d-1(g), check the following box.  ☐

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).

 

 

 

 

Page 1 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Coliseum Capital Management, LLC

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  AF

  5.      

  Check 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

 

  3,338,701 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  3,338,701 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,338,701 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

  24.4% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  IA

 

(1) Includes 1,920,545 shares of common stock, par value $0.001 per share (“Common Stock”) that could be obtained upon the conversion of shares of Series A convertible preferred stock, par value $0.001 per share (the “Series A Preferred Stock”), beneficially owned by the Reporting Person.

 

Page 2 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Coliseum Capital, LLC

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  AF

  5.      

  Check 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

 

  2,703,733 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  2,703,733 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  2,703,733 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

  19.6% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  OO

 

(1) Includes 1,724,962 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 3 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Coliseum Capital Partners, L.P.

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  WC

  5.      

  Check 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

 

  1,783,269 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  1,783,269 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,783,269 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

   12.7% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  PN

 

(1) Includes 1,032,315 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 4 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Coliseum Capital Partners II, L.P.

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  WC

  5.      

  Check 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

 

  396,315 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  396,315 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  396,315 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

  3.0% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  PN

 

(1) Includes 168,498 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 5 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Coliseum Capital Co-Invest, L.P.

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  WC

  5.      

  Check 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

 

  524,149 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

   524,149 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

   524,149 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

   3.9% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  PN

 

(1) Consists of 524,149 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 6 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Adam Gray

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  AF

  5.      

  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ☐

  6.      

  Citizenship or Place of Organization

 

   United States

Number of

Shares

  Beneficially  

Owned by

Each

Reporting

Person

With

    7.     

  Sole Voting Power

 

  0

  8.     

  Shared Voting Power

 

  3,338,701 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  3,338,701 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,338,701 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

   24.4% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  IN

 

(1) Includes 1,920,545 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 7 of 11


CUSIP No. 743815102 (Common Stock)

 

  1.       

  Names of Reporting Persons

 

   Christopher Shackelton

  2.      

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☒

 

  3.      

  SEC Use Only

 

  4.      

  Source of Funds (See Instructions)

 

  AF

  5.      

  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  ☐

  6.      

  Citizenship or Place of Organization

 

   United States

Number of

Shares

  Beneficially  

Owned by

Each

Reporting

Person

With

    7.     

  Sole Voting Power

 

  0

  8.     

  Shared Voting Power

 

  3,338,701 (1)

  9.     

  Sole Dispositive Power

 

  0

  10.     

  Shared Dispositive Power

 

  3,338,701 (1)

11.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,338,701 (1)

12.      

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

  ☐

13.      

  Percent of Class Represented by Amount in Row (11)

 

  24.4% (1)

14.      

  Type of Reporting Person (See Instructions)

 

  IN

 

(1) Includes 1,920,545 shares of Common Stock that could be obtained upon the conversion of shares of Series A Preferred Stock beneficially owned by the Reporting Person.

 

Page 8 of 11


CUSIP No. 743815102 (Common Stock)

 

Explanatory Note: This Amendment No. 11 (this “Amendment”) to the Schedule 13D (the “Initial 13D”), filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on July 30, 2012 and as amended and supplemented by Amendment No. 1 to the Initial 13D filed on August 20, 2012, Amendment No. 2 to the Initial 13D filed on September 13, 2012, Amendment No. 3 to the Initial 13D filed on November 28, 2012, Amendment No. 4 to the Initial 13D filed on August 15, 2013, Amendment No. 5 to the Initial 13D filed on October 28, 2014, Amendment No. 6 to the Initial 13D filed on February 23, 2015, Amendment No. 7 to the Initial 13D filed on March 16, 2015, Amendment No. 8 to the Initial 13D filed on March 17, 2017, Amendment No. 9 to the Initial 13D filed on December 13, 2017 and Amendment No. 10 to the Initial 13D filed on May 10, 2018, amends and supplements certain of the items set forth therein.

As used in this Amendment, the term “Reporting Persons” collectively refers to:

 

    Coliseum Capital Management, LLC, a Delaware limited liability company (“CCM”);

 

    Coliseum Capital, LLC, a Delaware limited liability company (“CC”);

 

    Coliseum Capital Partners, L.P., a Delaware limited partnership (“CCP”);

 

    Coliseum Capital Partners II, L.P., a Delaware limited partnership (“CCP2”);

 

    Coliseum Capital Co-Invest, L.P., a Delaware limited partnership (“CCC”);

 

    Adam Gray (“Gray”); and

 

    Christopher Shackelton, a director of the Issuer (“Shackelton”).

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended and supplemented as follows:

The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated herein by reference. The percentages set forth in Row 13 for all cover pages filed herewith are calculated based upon 13,023,928 shares of Common Stock outstanding as of May 7, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q, as filed with the SEC on May 10, 2018.

The Reporting Persons and a separate account investment advisory client of CCM (the “Separate Account”) effected the following transactions in the Common Stock on the dates indicated and such transactions are the only transactions in the Common Stock by the Reporting Persons since the most recent Schedule 13D filed by the Reporting Persons:

 


Name

   Purchase or
Sale
     Date      Number of
Shares
     Weighted
Average Price
Per Share
     Range of
Prices
 

CCP

     Sale        5/22/2018        18,849      $ 74.78      $ 74.50 - $75.37  

CCP2

     Sale        5/22/2018        3,072      $ 74.78      $
74.50 - $75.37
 

Separate Account

     Sale        5/22/2018        7,179      $ 74.78      $ 74.50 - $75.37  

CCP

     Sale        5/23/2018        6,615      $ 74.82      $ 74.75 - $75.04  

CCP2

     Sale        5/23/2018        1,076      $ 74.82      $ 74.75 - $75.04  

Separate Account

     Sale        5/23/2018        2,532      $ 74.82      $ 74.75 - $75.04  

CCP

     Sale        5/23/2018        6,472      $ 74.14      $ 74.00 - $74.78  

CCP2

     Sale        5/23/2018        1,052      $ 74.14      $ 74.00 - $74.78  

Separate Account

     Sale        5/23/2018        2,476      $ 74.14      $ 74.00 - $74.78  

CCP

     Sale        5/24/2018        4,016      $ 74.05      $ 74.00 - $74.18  

CCP2

     Sale        5/24/2018        653      $ 74.05      $ 74.00 - $74.18  

Separate Account

     Sale        5/24/2018        1,531      $ 74.05      $ 74.00 - $74.18  

CCP

     Sale        5/25/2018        1,969      $ 74.20      $ 74.00 - $74.25  

CCP2

     Sale        5/25/2018        319      $ 74.20      $ 74.00 - $74.25  

Separate Account

     Sale        5/25/2018        753      $ 74.20      $ 74.00 - $74.25  

CCP

     Sale        5/30/2018        27,565      $ 73.40      $ 73.00 - $73.94  

CCP2

     Sale        5/30/2018        4,477      $ 73.40      $ 73.00 - $73.94  

Separate Account

     Sale        5/30/2018        10,523      $ 73.40      $ 73.00 - $73.94  

CCP

     Sale        5/30/2018        24,636      $ 74.37      $ 74.00 - $74.92  

CCP2

     Sale        5/30/2018        4,001      $ 74.37      $ 74.00 - $74.92  

Separate Account

     Sale        5/30/2018        9,405      $ 74.37      $ 74.00 - $74.92  

CCP

     Sale        5/30/2018        2,498      $ 75.12      $ 75.00 - $75.64  

CCP2

     Sale        5/30/2018        406      $ 75.12      $ 75.00 - $75.64  

Separate Account

     Sale        5/30/2018        954      $ 75.12      $ 75.00 - $75.64  

CCP

     Sale        5/31/2018        17,796      $ 72.23      $ 72.00 - $72.80  

CCP2

     Sale        5/31/2018        2,883      $ 72.23      $ 72.00 - $72.80  

Separate Account

     Sale        5/31/2018        6,782      $ 72.23      $ 72.00 - $72.80  

CCP

     Sale        5/31/2018        3,175      $ 73.62      $ 73.01 - $74.00  

CCP2

     Sale        5/31/2018        515      $ 73.62      $ 73.01 - $74.00  

Separate Account

     Sale        5/31/2018        1,210      $ 73.62      $ 73.01 - $74.00  

CCP

     Sale        6/1/2018        4,535      $ 73.62      $ 73.00 - $73.97  

CCP2

     Sale        6/1/2018        734      $ 73.62      $ 73.00  - $73.97  

Separate Account

     Sale        6/1/2018        1,731      $ 73.62      $ 73.00 - $73.97  

CCP

     Sale        6/1/2018        31,688      $ 72.35      $ 72.00 - $72.99  

CCP2

     Sale        6/1/2018        5,129      $ 72.35      $ 72.00 - $72.99  

Separate Account

     Sale        6/1/2018        12,092      $ 72.35      $ 72.00 - $72.99  

CCP

     Sale        6/1/2018        2,786      $ 73.07      $ 73.00 - $73.20  

CCP2

     Sale        6/1/2018        451      $ 73.07      $ 73.00 - $73.20  

Separate Account

     Sale        6/1/2018        1,063      $ 73.07      $ 73.00 - $73.20  

 

Page 9 of 11


CUSIP No. 743815102 (Common Stock)

 

Except as set forth below, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock or the Issuer’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”) reported herein. CCM is an investment adviser whose clients, including CCP, CCP2, CCC and the Separate Account, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock and the Series A Preferred Stock.

 

Page 10 of 11


CUSIP No. 743815102 (Common Stock)

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct.

Dated: June 1, 2018

 

COLISEUM CAPITAL MANAGEMENT, LLC       COLISEUM CAPITAL, LLC
By:   

/s/ Thomas Sparta

      By:   

/s/ Thomas Sparta

   Thomas Sparta, Attorney-in-fact          Thomas Sparta, Attorney-in-fact
COLISEUM CAPITAL PARTNERS, L.P.       COLISEUM CAPITAL PARTNERS II, L.P.
By:    Coliseum Capital, LLC, General Partner       By:    Coliseum Capital, LLC, General Partner
By:   

/s/ Thomas Sparta

      By:   

/s/ Thomas Sparta

   Thomas Sparta, Attorney-in-fact          Thomas Sparta, Attorney-in-fact
COLISEUM CAPITAL CO-INVEST, L.P.       ADAM GRAY
By:    Coliseum Capital, LLC, General Partner         
By:   

/s/ Thomas Sparta

      By:   

/s/ Thomas Sparta

   Thomas Sparta, Attorney-in-fact          Thomas Sparta, Attorney-in-fact
CHRISTOPHER SHACKELTON         
By:   

/s/ Thomas Sparta

        
   Thomas Sparta, Attorney-in-fact         

 

Page 11 of 11

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