Indaba Capital Management, L.P. - May 24, 2021 Form 3 Insider Report for MDC PARTNERS INC (STGW)

Role
10%+ Owner
Signature
Indaba Capital Management, L.P.; By: IC GP, LLC; By: /s/ Derek C. Schrier, Managing Member
Stock symbol
STGW
Transactions as of
May 24, 2021
Transactions value $
$0
Form type
3
Date filed
5/28/2021, 12:35 PM
Next filing
Mar 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding STGW Class A Subordinate Voting Shares, no par 9.38M May 24, 2021 By: Indaba Capital Fund, L.P. F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 18.1K $2.63 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 9.84K $2.63 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 8.1K $2.64 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 22.1K $2.65 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 8K $2.65 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 15K $2.65 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 21.7K $2.66 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 19.7K $2.67 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 13.3K $2.68 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 54.3K $2.70 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 16.3K $2.74 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 7.91K $2.77 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 18.9K $2.77 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 8.46K $2.78 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 6.4K $2.78 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 1.95K $2.80 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 225K $2.84 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 74K $2.84 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 23.6K $2.85 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
holding STGW Cash-Settled Total Return Swap May 24, 2021 Class A Subordinate Voting Shares 125K $2.85 By: Indaba Capital Fund, L.P. F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 3 is filed jointly by Indaba Capital Management, L.P. (the "Investment Manager"), IC GP, LLC ("IC GP"), and Derek C. Schrier (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F2 Securities held directly by Indaba Capital Fund, L.P. (the "Fund"). Pursuant to an Investment Management Agreement, the Fund and its general partner have delegated all voting and investment power over the securities directly held by the Fund to the Investment Manager. As a result, each of the Investment Manager, IC GP, as the general partner of Investment Manager, and Mr. Schrier, as Managing Member of IC GP, may be deemed to exercise voting and investment power over such securities. The Fund specifically disclaims beneficial ownership of such securities by virtue of its inability to vote or dispose of such securities as a result of such delegation to the Investment Manager.
F3 The Fund has entered into certain cash-settled total return swap agreements (the "Swap Agreements"), which represent economic exposure to an aggregate of 2,057,270 notional shares. The Swap Agreements provide the Fund with economic results that are comparable to the economic results of ownership but do not provide it with the power to vote or direct the voting or dispose of or direct the disposition of the securities that are referenced by the Swap Agreements (the "Subject Shares"). Each Reporting Person expressly disclaims beneficial ownership of the Subject Shares except to the extent of his or its pecuniary interest therein.
F4 The reference price associated with the applicable cash-settled total return equity swap.

Remarks:

Filing 2 of 2 - additional Cash-Settled Total Return Swap holdings included in separate Form 3 dated the same date.