Amended Statement of Beneficial Ownership (sc 13d/a)
February 19 2020 - 4:04PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED
IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 1)1
Harvard Bioscience, Inc.
(Name
of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
416906105
(CUSIP Number)
ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices
and Communications)
February 14, 2020
(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box ¨.
Note: Schedules
filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See
§ 240.13d-7 for other parties to whom copies are to be sent.
1
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 disclosures provided
in a prior cover page.
The information required
on 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).
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1
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NAME OF REPORTING PERSON
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ENGINE CAPITAL, L.P.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
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(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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WC
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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NUMBER OF
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7
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SOLE VOTING POWER
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SHARES
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BENEFICIALLY
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2,630,073
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OWNED BY
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8
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SHARED VOTING POWER
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EACH
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REPORTING
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- 0 -
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PERSON WITH
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9
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SOLE DISPOSITIVE POWER
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2,630,073
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10
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SHARED DISPOSITIVE POWER
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- 0 -
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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2,630,073
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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6.9%
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14
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TYPE OF REPORTING PERSON
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PN
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1
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NAME OF REPORTING PERSON
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ENGINE JET CAPITAL, L.P.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
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(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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WC
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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NUMBER OF
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7
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SOLE VOTING POWER
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SHARES
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BENEFICIALLY
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579,417
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OWNED BY
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8
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SHARED VOTING POWER
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EACH
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REPORTING
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- 0 -
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PERSON WITH
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9
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SOLE DISPOSITIVE POWER
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579,417
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10
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SHARED DISPOSITIVE POWER
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- 0 -
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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579,417
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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1.5%
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14
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TYPE OF REPORTING PERSON
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PN
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1
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NAME OF REPORTING PERSON
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ENGINE CAPITAL MANAGEMENT, LP
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
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(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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OO
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
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NUMBER OF
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7
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SOLE VOTING POWER
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SHARES
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BENEFICIALLY
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3,209,490
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OWNED BY
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8
|
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SHARED VOTING POWER
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EACH
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|
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|
REPORTING
|
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|
|
- 0 -
|
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PERSON WITH
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9
|
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SOLE DISPOSITIVE POWER
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3,209,490
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10
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SHARED DISPOSITIVE POWER
|
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- 0 -
|
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11
|
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
|
|
|
|
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3,209,490
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12
|
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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8.4%
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14
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TYPE OF REPORTING PERSON
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OO
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1
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NAME OF REPORTING PERSON
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ENGINE CAPITAL MANAGEMENT GP, LLC
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2
|
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
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(b) ☐
|
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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OO
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5
|
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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DELAWARE
|
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NUMBER OF
|
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7
|
|
SOLE VOTING POWER
|
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SHARES
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|
|
|
|
|
BENEFICIALLY
|
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|
|
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3,209,490
|
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OWNED BY
|
|
8
|
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SHARED VOTING POWER
|
|
|
EACH
|
|
|
|
|
|
|
REPORTING
|
|
|
|
|
- 0 -
|
|
|
PERSON WITH
|
|
9
|
|
SOLE DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
|
10
|
|
SHARED DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 0 -
|
|
|
|
11
|
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
12
|
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13
|
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
|
|
|
|
|
|
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8.4%
|
|
|
|
14
|
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TYPE OF REPORTING PERSON
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OO
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1
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NAME OF REPORTING PERSON
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ENGINE INVESTMENTS, LLC
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
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(b) ☐
|
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3
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SEC USE ONLY
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4
|
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SOURCE OF FUNDS
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OO
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5
|
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
☐
|
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|
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
|
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|
|
|
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|
|
DELAWARE
|
|
|
NUMBER OF
|
|
7
|
|
SOLE VOTING POWER
|
|
|
SHARES
|
|
|
|
|
|
|
BENEFICIALLY
|
|
|
|
|
3,209,490
|
|
|
OWNED BY
|
|
8
|
|
SHARED VOTING POWER
|
|
|
EACH
|
|
|
|
|
|
|
REPORTING
|
|
|
|
|
- 0 -
|
|
|
PERSON WITH
|
|
9
|
|
SOLE DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
|
10
|
|
SHARED DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 0 -
|
|
|
|
11
|
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
12
|
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13
|
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
|
|
|
|
|
|
|
8.4%
|
|
|
|
14
|
|
TYPE OF REPORTING PERSON
|
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|
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OO
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1
|
|
NAME OF REPORTING PERSON
|
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ARNAUD AJDLER
|
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|
2
|
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
|
|
|
|
|
|
(b) ☐
|
|
|
|
|
|
|
|
|
|
3
|
|
SEC USE ONLY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
|
|
OO
|
|
|
|
5
|
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
☐
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
|
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
BELGIUM
|
|
|
NUMBER OF
|
|
7
|
|
SOLE VOTING POWER
|
|
|
SHARES
|
|
|
|
|
|
|
BENEFICIALLY
|
|
|
|
|
3,209,490
|
|
|
OWNED BY
|
|
8
|
|
SHARED VOTING POWER
|
|
|
EACH
|
|
|
|
|
|
|
REPORTING
|
|
|
|
|
- 0 -
|
|
|
PERSON WITH
|
|
9
|
|
SOLE DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
|
10
|
|
SHARED DISPOSITIVE POWER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 0 -
|
|
|
|
11
|
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
|
|
|
|
|
|
|
|
3,209,490
|
|
|
|
12
|
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13
|
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
|
|
|
|
|
|
|
8.4%
|
|
|
|
14
|
|
TYPE OF REPORTING PERSON
|
|
|
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IN
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1
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NAME OF REPORTING PERSON
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MELVIN L. KEATING
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☒
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(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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USA
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NUMBER OF
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7
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SOLE VOTING POWER
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SHARES
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BENEFICIALLY
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- 0 -
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OWNED BY
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8
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SHARED VOTING POWER
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EACH
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REPORTING
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- 0 -
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PERSON WITH
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9
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SOLE DISPOSITIVE POWER
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- 0 -
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10
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SHARED DISPOSITIVE POWER
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- 0 -
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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- 0 -
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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0%
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14
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TYPE OF REPORTING PERSON
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IN
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1
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NAME OF REPORTING PERSON
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SUSAN STEELE
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☒
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(b) ☐
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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5
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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USA
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NUMBER OF
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7
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SOLE VOTING POWER
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SHARES
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BENEFICIALLY
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- 0 -
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OWNED BY
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8
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SHARED VOTING POWER
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EACH
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REPORTING
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- 0 -
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PERSON WITH
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9
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SOLE DISPOSITIVE POWER
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- 0 -
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10
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SHARED DISPOSITIVE POWER
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- 0 -
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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- 0 -
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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0%
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14
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TYPE OF REPORTING PERSON
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IN
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The following constitutes
Amendment No. 1 to the Schedule 13D filed by the undersigned (“Amendment No. 1”). This Amendment No. 1 amends the Schedule
13D as specifically set forth herein.
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Item 2.
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Identity and Background.
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Item 2 is hereby amended
and restated to read as follows:
(a) This
statement is filed by:
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(i)
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Engine Capital, L.P., a Delaware limited partnership (“Engine Capital”), with respect
to the Shares directly and beneficially owned by it;
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(ii)
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Engine Jet Capital, L.P., a Delaware limited partnership (“Engine Jet”), with respect
to the Shares directly and beneficially owned by it;
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(iii)
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Engine Capital Management, LP, a Delaware limited partnership (“Engine Management”),
as the investment manager of each of Engine Capital and Engine Jet;
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(iv)
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Engine Capital Management GP, LLC, a Delaware limited liability company (“Engine GP”),
as the general partner of Engine Management;
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(v)
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Engine Investments, LLC, a Delaware limited liability company (“Engine Investments”),
as the general partner of each of Engine Capital and Engine Jet;
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(vi)
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Arnaud Ajdler, as the managing partner of Engine Management, and the managing member of each of
Engine GP and Engine Investments;
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(vii)
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Melvin L. Keating; and
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Each of the foregoing
is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting
Persons is party to that certain Joint Filing and Solicitation Agreement, as further described in Item 6. Accordingly, the Reporting
Persons are hereby filing a joint Schedule 13D.
(b) The
address of the principal office of each of Engine Capital, Engine Jet, Engine Management, Engine GP, Engine Investments, and Mr.
Ajdler is 1345 Avenue of the Americas, 33rd Floor, New York, New York 10105. The address of the principal office of Mr. Keating
is 46 Four Seasons Drive, North Caldwell, New Jersey 07006. The address of the principal office of Ms. Steele is 18 Windward, Alexander
City, Alabama 35010.
(c) The
principal business of each of Engine Capital and Engine Jet is investing in securities. Engine Management is the investment manager
of each of Engine Capital and Engine Jet. Engine GP serves as the general partner of Engine Management. Engine Investments serves
as the general partner of each of Engine Capital and Engine Jet. Mr. Ajdler serves as the managing partner of Engine Management
and the managing member of each of Engine GP and Engine Investments. Mr. Keating is a consultant who provides investment advice
and other services to public companies and private equity firms. Ms. Steele is the Chief Executive Officer of Steele & Partners
LLC, a consulting firm specializing in program management and supply chain performance.
(d) No
Reporting Person has, during the last five (5) years, been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) No
Reporting Person has, during the last five (5) years, been party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with
respect to such laws.
(f) Mr.
Ajdler is a citizen of Belgium. Mr. Keating and Ms. Steele are citizens of the United States of America.
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Item 4.
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Purpose of Transaction.
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Item 4 is hereby amended
to add the following:
On February 14,
2020, Engine Capital delivered a letter to the Issuer nominating Melvin L. Keating and Susan Steele (the “Nominees”)
for election to the Board of Directors of the Issuer (the “Board”) at the 2020 annual meeting of stockholders (the
“Annual Meeting”).
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Item 5.
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Interest in Securities of the Issuer.
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Items 5(a) –
(c) are hereby amended and restated to read as follows:
The aggregate percentage
of Shares reported owned by each person named herein is based upon 38,066,101 Shares outstanding as of October 30, 2019, which
is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission on November 8, 2019.
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(a)
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As of the date hereof, Engine Capital directly owned 2,630,073 Shares.
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Percentage: Approximately
6.9%
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(b)
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1. Sole power to vote or direct vote: 2,630,073
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 2,630,073
4. Shared power to dispose or direct the disposition: 0
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(a)
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As of the date hereof, Engine Jet directly owned 579,417 Shares.
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Percentage: Approximately
1.5%
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(b)
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1. Sole power to vote or direct vote: 579,417
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 579,417
4. Shared power to dispose or direct the disposition: 0
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(a)
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Engine Management, as the investment manager of each of Engine Capital and Engine Jet, may be deemed
to beneficially own the Shares owned directly by Engine Capital and Engine Jet. As of the date hereof, Engine Management may be
deemed to beneficially own 3,209,490 Shares.
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Percentage: Approximately
8.4%
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(b)
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1. Sole power to vote or direct vote: 3,209,490
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 3,209,490
4. Shared power to dispose or direct the disposition: 0
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(a)
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Engine GP, as the general partner of Engine Management, may be deemed to beneficially own the Shares
owned directly by Engine Capital and Engine Jet. As of the date hereof, Engine GP may be deemed to beneficially own 3,209,490 Shares.
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Percentage: Approximately
8.4%
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(b)
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1. Sole power to vote or direct vote: 3,209,490
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 3,209,490
4. Shared power to dispose or direct the disposition: 0
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(a)
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Engine Investments, as the general partner of each of Engine Capital and Engine Jet, may be deemed
to beneficially own the Shares owned directly by Engine Capital and Engine Jet. As of the date hereof, Engine Investments may be
deemed to beneficially own 3,209,490 Shares.
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Percentage: Approximately
8.4%
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(b)
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1. Sole power to vote or direct vote: 3,209,490
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 3,209,490
4. Shared power to dispose or direct the disposition: 0
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(a)
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Mr. Ajdler, as the managing member of Engine Management and Engine Investments, may be deemed to
beneficially own the 3,209,490 Shares owned beneficially by Engine Management and Engine Investments.
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Percentage: Approximately
8.4%
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(b)
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1. Sole power to vote or direct vote: 3,209,490
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 3,209,490
4. Shared power to dispose or direct the disposition: 0
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(a)
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As of the date hereof, Mr. Keating did not beneficially own any Shares.
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Percentage: 0%
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(b)
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1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 0
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(a)
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As of the date hereof, Ms. Steele did not beneficially own any Shares.
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Percentage: 0%
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(b)
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1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 0
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Each Reporting Person
may be deemed to be a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of
the Securities Exchange Act of 1934, as amended, and such group may be deemed to beneficially own the Shares owned in the aggregate
by all of the Reporting Persons. Each Reporting Person disclaims beneficial ownership of the Shares that he, she or it does not
directly own.
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(c)
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None of the Reporting Persons have entered into any transactions in the securities of the Issuer
since during the past 60 days.
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Item 6.
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Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
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Item 6 is hereby amended
to add the following:
On February 14,
2020, the Reporting Persons entered into a Joint Filing and Solicitation Agreement pursuant to which, among other things, the parties
agreed to (a) the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect
to the securities of the Issuer and (b) solicit proxies for the election of the Nominees at the Annual Meeting. A copy of the Joint
Filing and Solicitation Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Engine Capital has
entered into letter agreements pursuant to which it and its affiliates agreed to indemnify the Nominees against claims arising
from the solicitation of proxies from the Issuer’s stockholders in connection with the Annual Meeting and any related transactions.
A form of the indemnification letter agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference
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Item 7.
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Material to be Filed as Exhibits.
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Item 7 is hereby amended
to add the following exhibits:
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99.1
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Joint Filing and Solicitation Agreement, dated February 14, 2020.
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99.2
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Form of Indemnification Letter Agreement.
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SIGNATURES
After reasonable inquiry
and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement
is true, complete and correct.
Dated: February 19, 2020
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Engine Capital, L.P.
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By:
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Engine Investments, LLC
General Partner
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By:
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/s/ Arnaud Ajdler
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Name:
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Arnaud Ajdler
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Title:
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Managing Member
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Engine Jet Capital, L.P.
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By:
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Engine Investments, LLC
General Partner
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By:
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/s/ Arnaud Ajdler
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Name:
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Arnaud Ajdler
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Title:
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Managing Member
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Engine Capital Management, LP
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By:
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Engine Capital Management GP, LLC
General Partner
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By:
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/s/ Arnaud Ajdler
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Name:
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Arnaud Ajdler
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Title:
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Managing Member
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Engine Capital Management GP, LLC
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By:
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/s/ Arnaud Ajdler
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Name:
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Arnaud Ajdler
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Title:
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Managing Member
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Engine Investments, LLC
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By:
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/s/ Arnaud Ajdler
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Name:
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Arnaud Ajdler
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Title:
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Managing Member
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/s/ Arnaud Ajdler
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Arnaud Ajdler
Individually and as attorney-in-fact for Melvin L. Keating and Susan
Steele
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