UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
TranS1 Inc.
|
(Name of Issuer)
|
COMMON STOCK
|
(Title of Class of Securities)
|
89385X 105
|
(CUSIP Number)
|
December 31, 2012
|
(Date of Event Which Requires Filing of this Statement)
|
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
_______________
*
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).
1
|
NAMES OF REPORTING PERSONS
Cutlass Capital, L.P.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
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SEC USE ONLY
|
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
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SOLE VOTING POWER
None
|
|
|
6
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SHARED VOTING POWER
1,755,752 (1)
|
|
|
|
7
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SOLE DISPOSITIVE POWER
None
|
|
|
|
|
8
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SHARED DISPOSITIVE POWER
1,755,752 (1)
|
|
|
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,755,752 shares of Common Stock (1)
|
|
|
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10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4% (2)
|
|
|
|
12
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TYPE OF REPORTING PERSON
PN
|
|
|
|
|
|
|
|
|
|
|
(1) 1,755,752 shares of Common Stock are owned directly by Cutlass
Capital, L.P. and indirectly by Cutlass Capital Management, L.L.C., as the general partner of Cutlass Capital, L.P., and each of
Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the two managing members of Cutlass Capital Management, L.L.C.
Each of Cutlass Capital Management, L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial ownership of these securities except to
the extent of their respective pecuniary interest therein.
(2) This percentage is calculated based upon 27,287,001 shares
of the Issuer’s Common Stock outstanding (as of November 2, 2012), as set forth in the Issuer’s Form 10-Q, filed with
the Securities and Exchange Commission on November 08, 2012.
1
|
NAMES OF REPORTING PERSONS
Cutlass Capital Principals Fund, L.L.C.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
|
SEC USE ONLY
|
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
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SOLE VOTING POWER
None
|
|
|
6
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SHARED VOTING POWER
126,133 (1)
|
|
|
|
7
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SOLE DISPOSITIVE POWER
None
|
|
|
|
|
8
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SHARED DISPOSITIVE POWER
126,133 (1)
|
|
|
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
126,133 shares of Common Stock (1)
|
|
|
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.5% (2)
|
|
|
|
12
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TYPE OF REPORTING PERSON
OO
|
|
|
|
|
|
|
|
|
|
|
(1) 126,133 shares of Common Stock are owned directly by Cutlass
Capital Principals Fund, L.L.C. and indirectly by each of Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the
two managing members of Cutlass Capital Principals Fund, L.L.C. Mr. Osgood and Mr. Hetz disclaim beneficial ownership of these
securities except to the extent of their respective pecuniary interest therein.
(2) This percentage is calculated based upon 27,287,001 shares
of the Issuer’s Common Stock outstanding (as of November 2, 2012), as set forth in the Issuer’s Form 10-Q, filed with
the Securities and Exchange Commission on November 08, 2012.
1
|
NAMES OF REPORTING PERSONS
Cutlass Capital Affiliates Fund, L.P.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
|
SEC USE ONLY
|
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
None
|
|
|
6
|
SHARED VOTING POWER
114,475 (1)
|
|
|
|
7
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SOLE DISPOSITIVE POWER
None
|
|
|
|
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8
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SHARED DISPOSITIVE POWER
114,475 (1)
|
|
|
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
114,475 shares of Common Stock (1)
|
|
|
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10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.4% (2)
|
|
|
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12
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TYPE OF REPORTING PERSON
PN
|
|
|
|
|
|
|
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|
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(1) 114,475 shares of Common Stock are owned directly by Cutlass
Capital Affiliates Fund, L.P. and indirectly by Cutlass Capital Management, L.L.C, as the general partner of Cutlass Capital Affiliates
Fund, L.P., and each of Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the two managing members of Cutlass
Capital Management, L.L.C. Each of Cutlass Capital Management, L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial ownership of
these securities except to the extent of their respective pecuniary interest therein.
(2) This percentage is calculated based upon 27,287,001 shares
of the Issuer’s Common Stock outstanding (as of November 2, 2012), as set forth in the Issuer’s Form 10-Q, filed with
the Securities and Exchange Commission on November 08, 2012.
1
|
NAMES OF REPORTING PERSONS
Cutlass Capital Management, L.L.C.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
|
SEC USE ONLY
|
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
None
|
|
|
6
|
SHARED VOTING POWER
1,870,227 (1)
|
|
|
|
7
|
SOLE DISPOSITIVE POWER
None
|
|
|
|
|
8
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SHARED DISPOSITIVE POWER
1,870,227 (1)
|
|
|
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9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,870,227 shares of Common Stock (1)
|
|
|
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.9% (2)
|
|
|
|
12
|
TYPE OF REPORTING PERSON
OO
|
|
|
|
|
|
|
|
|
|
|
(1) 1,755,752 shares of Common Stock are owned directly by Cutlass
Capital, L.P. and indirectly by Cutlass Capital Management, L.L.C., as the general partner of Cutlass Capital, L.P., and each of
Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the two managing members of Cutlass Capital Management, L.L.C.
114,475 shares of Common Stock are owned directly by Cutlass Capital Affiliates Fund, L.P. and indirectly by Cutlass Capital Management,
L.L.C, as the general partner of Cutlass Capital Affiliates Fund, L.P., and each of Mr. Osgood and Mr. Hetz, as the two managing
members of Cutlass Capital Management, L.L.C. Each of Cutlass Capital Management, L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial
ownership of these securities except to the extent of their respective pecuniary interest therein.
(2) This percentage is calculated based upon 27,287,001 shares
of the Issuer’s Common Stock outstanding (as of November 2, 2012), as set forth in the Issuer’s Form 10-Q, filed with
the Securities and Exchange Commission on November 08, 2012.
1
|
NAMES OF REPORTING PERSONS
Jonathan W. Osgood
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
|
SEC USE ONLY
|
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
|
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
50,000 (1)
|
|
|
6
|
SHARED VOTING POWER
1,996,360 (2)
|
|
|
|
7
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SOLE DISPOSITIVE POWER
50,000 (1)
|
|
|
|
|
8
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SHARED DISPOSITIVE POWER
1,996,360 (2)
|
|
|
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,046,360 shares of Common Stock
|
|
|
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.5% (3)
|
|
|
|
12
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TYPE OF REPORTING PERSON
IN
|
|
|
|
|
|
|
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|
|
|
(1) Mr. Osgood owns stock options to purchase 50,000
shares of Common Stock, which are fully vested and immediately exercisable.
(2) 1,755,752 shares of Common Stock are owned directly by Cutlass
Capital, L.P. and indirectly by Cutlass Capital Management, L.L.C., as the general partner of Cutlass Capital, L.P., and each of
Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the two managing members of Cutlass Capital Management, L.L.C.
114,475 shares of Common Stock are owned directly by Cutlass Capital Affiliates Fund, L.P. and indirectly by Cutlass Capital Management,
L.L.C, as the general partner of Cutlass Capital Affiliates Fund, L.P., and each of Mr. Osgood and Mr. Hetz, as the two managing
members of Cutlass Capital Management, L.L.C. 126,133 shares of Common Stock are owned directly by Cutlass Capital Principals Fund,
L.L.C. and indirectly by each of Mr. Osgood and Mr. Hetz, as the two managing members of Cutlass Capital Principals Fund, L.L.C.
Each of Cutlass Capital Management, L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial ownership of these securities except to
the extent of their respective pecuniary interest therein.
(3) This percentage is calculated based on an aggregate of 27,337,001
shares of Common Stock outstanding, which includes (i) 27,287,001 shares of Common Stock outstanding (as of November 2, 2012),
as set forth in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 8, 2012, and (ii) 50,000
shares of Common Stock underlying Mr. Osgood’s stock options.
1
|
NAMES OF REPORTING PERSONS
Edwin D. Hetz
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
o
(b)
x
|
|
3
|
SEC USE ONLY
|
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
|
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
None
|
|
|
6
|
SHARED VOTING POWER
1,996,360 (1)
|
|
|
|
7
|
SOLE DISPOSITIVE POWER
None
|
|
|
|
|
8
|
SHARED DISPOSITIVE POWER
1,996,360 (1)
|
|
|
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,996,360 shares of Common Stock (1)
|
|
|
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
|
¨
|
|
|
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.3% (2)
|
|
|
|
12
|
TYPE OF REPORTING PERSON
IN
|
|
|
|
|
|
|
|
|
|
|
(1) 1,755,752 shares of Common Stock
are owned directly by Cutlass Capital, L.P. and indirectly by Cutlass Capital Management, L.L.C., as the general partner of Cutlass
Capital, L.P., and each of Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the two managing members of Cutlass
Capital Management, L.L.C. 114,475 shares of Common Stock are owned directly by Cutlass Capital Affiliates Fund, L.P. and indirectly
by Cutlass Capital Management, L.L.C, as the general partner of Cutlass Capital Affiliates Fund, L.P., and each of Mr. Osgood
and Mr. Hetz, as the two managing members of Cutlass Capital Management, L.L.C. 126,133 shares of Common Stock are owned directly
by Cutlass Capital Principals Fund, L.L.C. and indirectly by each of Mr. Osgood and Mr. Hetz, as the two managing members of Cutlass
Capital Principals Fund, L.L.C. Each of Cutlass Capital Management, L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial ownership
of these securities except to the extent of their respective pecuniary interest therein.
(2) This percentage is calculated based upon 27,287,001 shares
of the Issuer’s Common Stock outstanding (as of November 2, 2012), as set forth in the Issuer’s Form 10-Q, filed with
the Securities and Exchange Commission on November 08, 2012.
Item 1.
TranS1 Inc.
(b)
|
Address of Issuer’s Principal Executive Offices:
|
301 Government Center Drive
Wilmington, NC 28403
Item 2.
(a)
|
Name of Person Filing:
|
Cutlass Capital, L.P.
Cutlass Capital Principals
Fund, L.L.C.
Cutlass Capital Affiliates
Fund, L.P.
Cutlass Capital Management,
L.L.C.
Jonathan W. Osgood
Edwin D. Hetz
(b)
|
Address of Principal Business Office or, if none, Residence:
|
As to Cutlass Capital,
L.P.:
322 Dunbarton Drive
St. Simons Island, GA 31522
As to Cutlass Capital Principals
Fund, L.L.C.:
322 Dunbarton Drive
St. Simons Island, GA 31522
As to Cutlass Capital Affiliates
Fund, L.P.:
322 Dunbarton Drive
St. Simons Island, GA 31522
As to Cutlass Capital Management,
L.L.C.:
322 Dunbarton Drive
St. Simons Island, GA 31522
As to Jonathan W. Osgood:
322 Dunbarton Drive
St. Simons Island, GA 31522
As to Edwin D. Hetz:
14 Summit Avenue
Kennebunkport, ME 04046
As to Cutlass Capital,
L.P.:
State of
Delaware
As to Cutlass Capital Principals
Fund, L.L.C.:
State of
Delaware
As to Cutlass Capital Affiliates
Fund, L.P.:
State of
Delaware
As to Cutlass Capital Management,
L.L.C.:
State of
Delaware
As to Jonathan W. Osgood:
United States
of America
As to Edwin D. Hetz:
United States
of America
(d)
|
Title of Class of Securities:
|
Common Stock
89385X 105
Item 3.
|
If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
|
Not Applicable
|
(a)
|
Amount beneficially owned:
See Item 9 of Cover Pages
|
|
(b)
|
Percent of class:
See Item 11 of Cover Pages
|
|
(c)
|
Number of shares as to which such person has:
|
|
(i)
|
Sole power to vote or to direct the vote of:
See Item 5 of Cover
Pages
|
|
(ii)
|
Shared power to vote or to direct the vote of:
See Item
6 of Cover Pages
|
|
(iii)
|
Sole power to dispose or to direct the disposition of:
See Item
7 of Cover Pages
|
|
(iv)
|
Shared power to dispose or to direct the disposition of:
See Item
8 of Cover Pages
|
1,755,752
shares of Common Stock are owned directly by Cutlass Capital, L.P. and indirectly by Cutlass Capital Management, L.L.C., as the
general partner of Cutlass Capital, L.P., and each of Jonathan W. Osgood (a director of the Issuer) and Edwin D. Hetz, as the
two managing members of Cutlass Capital Management, L.L.C. 114,475 shares of Common Stock are owned directly by Cutlass Capital
Affiliates Fund, L.P. and indirectly by Cutlass Capital Management, L.L.C, as the general partner of Cutlass Capital Affiliates
Fund, L.P., and each of Mr. Osgood and Mr. Hetz, as the two managing members of Cutlass Capital Management, L.L.C. 126,133
shares of Common Stock are owned directly by Cutlass Capital Principals Fund, L.L.C. and indirectly by each of Mr. Osgood
and Mr. Hetz, as the two managing members of Cutlass Capital Principals Fund, L.L.C. Each of Cutlass Capital Management,
L.L.C., Mr. Osgood and Mr. Hetz disclaim beneficial ownership of these securities except to the extent of their respective
pecuniary interest therein. In addition, Mr. Osgood owns stock options to purchase 50,000 shares of Common Stock, which are
fully vested and immediately exercisable.
Item 5.
|
Ownership of Five Percent or Less of a Class.
|
Not applicable.
Item 6.
|
Ownership of More than Five Percent on Behalf of Another Person.
|
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.
|
Not Applicable.
Item 8.
|
Identification and Classification of Members of the Group.
|
Not Applicable.
Item 9.
|
Notice of Dissolution of Group.
|
Not Applicable.
Not applicable.
SIGNATURES
After reasonable inquiry
and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and
correct.
Dated: February 19, 2013
|
|
|
|
|
cutlass capital, l.p.
|
|
|
|
By:
|
Cutlass Capital Management, L.L.C.
General Partner
|
|
|
|
By:
|
/s/ Jonathan W. Osgood
|
|
|
Name:
|
Jonathan W. Osgood
|
|
|
Title:
|
Managing Member
|
|
cutlass capital principals
fund, L.L.C.
|
|
By:
|
/s/ Jonathan W. Osgood
|
|
|
Name:
|
Jonathan W. Osgood
|
|
|
Title:
|
Managing Member
|
|
cutlass capital affiliates fund, L.P.
|
|
By:
By:
|
Cutlass Capital Management, L.L.C.
General Partner
/s/ Jonathan W. Osgood
|
|
|
Name:
|
Jonathan W. Osgood
|
|
|
Title:
|
Managing Member
|
|
cutlass capital management, l.l.c.
|
|
|
|
By:
|
/s/ Jonathan W. Osgood
|
|
|
Name:
|
Jonathan W. Osgood
|
|
|
Title:
|
Managing Member
|
|
Jonathan w. osgood
|
|
|
|
By:
|
/s/ Jonathan W. Osgood
|
|
|
|
|
|
edwin d. hetz
|
|
|
|
By:
|
/s/ Edwin D. Hetz
|
|
|
|
|
|
|
|
|
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