(Amendment No. 1)
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).
CUSIP No. 72942A107 |
Page 2 of 10 |
1 | Names of Reporting Persons |
I.R.S. Identification Nos. of above persons (entities
only)
WHITE ROCK CAPITAL MANAGEMENT, L.P.
2 | Check the Appropriate Box If a Member of a Group
(See Instructions) |
4 | Citizenship or Place of Organization |
TEXAS
Number of
Shares
Beneficially
Owned By
Each
Reporting
Person
With |
5 |
Sole Voting Power |
|
0 |
6 |
Shared Voting Power
2,786,900* (See Item 4(a)) |
7 |
Sole Dispositive Power
0 |
8 |
Shared Dispositive Power |
|
2,786,900*
(See Item 4(a)) |
| 9 | Aggregate Amount
Beneficially Owned by Each Reporting Person |
2,786,900* (See Item 4(a))
| 10 | Check Box If the
Aggregate Amount in Row (9) Excludes Certain |
Shares (See Instructions)
¨
| 11 | Percent of Class
Represented By Amount in Row (9) |
9.99%* (See Item 4(a))
| 12 | Type of Reporting
Person (See Instructions) |
PN; IA
* Includes
shares of Common Stock owned by two separate private investments vehicles for which White Rock Capital Management, L.P. serves as investment
manager, and 364,000 shares of Common Stock underlying the Warrants owned by White Rock Capital Partners, L.P. that are currently exercisable,
but subject to a 9.99% beneficial ownership limitation, and, for purposes of determining the beneficial ownership of White Rock Capital
Management, L.P., excludes 1,524,700 shares of Common Stock underlying Warrants, which currently may not be exercised due to such 9.99%
beneficial ownership limitation.
CUSIP No. 72942A107 |
Page 3 of 10 |
| 1 | Names of Reporting
Persons |
I.R.S. Identification Nos. of above persons (entities
only)
WHITE ROCK CAPITAL PARTNERS, L.P.
| 2 | Check the Appropriate
Box If a Member of a Group (See Instructions) |
| 4 | Citizenship or Place
of Organization |
TEXAS
Number of
Shares
Beneficially
Owned By
Each
Reporting
Person
With |
5 |
Sole Voting Power |
|
0 |
6 |
Shared Voting Power
2,811,088* (See Item 4(a)) |
7 |
Sole Dispositive Power
0 |
8 |
Shared Dispositive Power |
|
2,811,088* (See Item 4(a)) |
| 9 | Aggregate Amount
Beneficially Owned by Each Reporting Person |
2,811,088* (See Item 4(a))
| 10 | Check Box If the
Aggregate Amount in Row (9) Excludes Certain |
Shares (See Instructions)
¨
| 11 | Percent of Class
Represented By Amount in Row (9) |
9.99%* (See Item 4(a))
| 12 | Type of Reporting
Person (See Instructions) |
PN
* Includes
638,188 shares of Common Stock underlying the Warrants that are currently exercisable, but subject to a 9.99% beneficial ownership limitation
and excludes 1,250,512 shares of Common Stock underlying Warrants, which currently may not be exercised due to such 9.99% beneficial
ownership limitation. Does not include shares of Common Stock owned by a separate private investment vehicle to which certain of the
Reporting Persons may be deemed to have a beneficial interest.
CUSIP No. 72942A107 |
Page 4 of 10 |
| 1 | Names of Reporting
Persons |
I.R.S. Identification Nos. of above persons (entities
only)
WHITE ROCK CAPITAL (TX), INC.
| 2 | Check the Appropriate
Box If a Member of a Group (See Instructions) |
| 4 | Citizenship or Place
of Organization |
TEXAS
Number of
Shares
Beneficially
Owned By
Each
Reporting
Person
With |
5 |
Sole Voting Power |
|
0 |
6 |
Shared Voting Power
2,786,900* (See Item 4(a)) |
7 |
Sole Dispositive Power
0 |
8 |
Shared Dispositive Power |
|
2,786,900* (See Item 4(a)) |
| 9 | Aggregate Amount
Beneficially Owned by Each Reporting Person |
2,786,900* (See Item 4(a))
| 10 | Check Box If the
Aggregate Amount in Row (9) Excludes Certain |
Shares (See Instructions)
¨
| 11 | Percent of Class
Represented By Amount in Row (9) |
9.99%* (See Item 4(a))
| 12 | Type of Reporting
Person (See Instructions) |
CO; HC
* Includes
shares of Common Stock owned by two separate private investments vehicles for which White Rock Capital Management, L.P. serves as investment
manager, and 364,000 shares of Common Stock underlying the Warrants owned by White Rock Capital Partners, L.P. that are currently exercisable,
but subject to a 9.99% beneficial ownership limitation, and, for purposes of determining the beneficial ownership of White Rock Capital
Management, L.P., excludes 1,524,700 shares of Common Stock underlying Warrants, which currently may not be exercised due to such 9.99%
beneficial ownership limitation.
CUSIP No. 72942A107 |
Page 5 of 10 |
| 1 | Names of Reporting
Persons |
I.R.S. Identification Nos. of above persons (entities
only)
THOMAS U. BARTON
| 2 | Check the Appropriate
Box If a Member of a Group (See Instructions) |
| 4 | Citizenship or Place
of Organization |
UNITED STATES
Number of
Shares
Beneficially
Owned By
Each
Reporting
Person
With |
5 |
Sole Voting Power |
|
0 |
6 |
Shared Voting Power
2,786,900* (See Item 4(a)) |
7 |
Sole Dispositive Power
0 |
8 |
Shared Dispositive Power |
|
2,786,900* (See Item 4(a)) |
| 9 | Aggregate Amount
Beneficially Owned by Each Reporting Person |
2,786,900* (See Item 4(a))
| 10 | Check Box If the
Aggregate Amount in Row (9) Excludes Certain |
Shares (See Instructions)
¨
| 11 | Percent of Class
Represented By Amount in Row (9) |
9.99%* (See Item 4(a))
| 12 | Type of Reporting
Person (See Instructions) |
IN; HC
* Includes
shares of Common Stock owned by two separate private investments vehicles for which White Rock Capital Management, L.P. serves as investment
manager, and 364,000 shares of Common Stock underlying the Warrants owned by White Rock Capital Partners, L.P. that are currently exercisable,
but subject to a 9.99% beneficial ownership limitation, and, for purposes of determining the beneficial ownership of White Rock Capital
Management, L.P., excludes 1,524,700 shares of Common Stock underlying Warrants, which currently may not be exercised due to such 9.99%
beneficial ownership limitation.
CUSIP No. 72942A107 |
Page 6 of 10 |
| 1 | Names of Reporting
Persons |
I.R.S. Identification Nos. of above persons (entities
only)
JOSEPH U. BARTON
| 2 | Check the Appropriate
Box If a Member of a Group (See Instructions) |
| 4 | Citizenship or Place
of Organization |
UNITED STATES
Number of
Shares
Beneficially
Owned By
Each
Reporting
Person
With |
5 |
Sole Voting Power |
|
0 |
6 |
Shared Voting Power
2,786,900* (See Item 4(a)) |
7 |
Sole Dispositive Power
0 |
8 |
Shared Dispositive Power |
|
2,786,900* (See Item 4(a)) |
| 9 | Aggregate Amount
Beneficially Owned by Each Reporting Person |
2,786,900* (See Item 4(a))
| 10 | Check Box If the
Aggregate Amount in Row (9) Excludes Certain |
Shares (See Instructions)
¨
| 11 | Percent of Class
Represented By Amount in Row (9) |
9.99%* (See Item 4(a))
| 12 | Type of Reporting
Person (See Instructions) |
IN; HC
* * Includes
shares of Common Stock owned by two separate private investments vehicles for which White Rock Capital Management, L.P. serves as investment
manager, and 364,000 shares of Common Stock underlying the Warrants owned by White Rock Capital Partners, L.P. that are currently exercisable,
but subject to a 9.99% beneficial ownership limitation, and, for purposes of determining the beneficial ownership of White Rock Capital
Management, L.P., excludes 1,524,700 shares of Common Stock underlying Warrants, which currently may not be exercised due to such 9.99%
beneficial ownership limitation.
PLx Pharma Inc. (the “Issuer”).
| Item 1(b) | Address of the Issuer's Principal
Executive Offices: |
9 Fishers Lane, Ste. E
Sparta, New Jersey 07871
| Item 2(a) | Name of Person Filing: |
This statement is filed
on behalf of each of the following persons (collectively, the “Reporting Persons”):
| (i) | White Rock Capital Management, L.P., a Texas
limited partnership (“White Rock Management”), |
| (ii) | White Rock Capital Partners, L.P., a Texas
limited partnership (“White Rock Partners”), |
| (iii) | White Rock Capital (TX), Inc., a Texas
corporation (“White Rock, Inc.”), |
| (iv) | Thomas U. Barton, and |
This statement relates to
shares of common stock, par value $ 0.001 per share (the “Shares”), of the Issuer held for the account of White Rock Partners.
White Rock Management may be deemed to exercise voting and/or dispositive power over the Shares held for the account of White Rock Partners.
In addition, White Rock Management serves as the investment manager for a separate private investment vehicle (the “Private Fund”)
that owns 250,000 Shares, and the beneficial ownership of White Rock Management and its affiliates that are identified in this Schedule
13G gives effect to those shares.
The investment manager of
each of White Rock Partners and the Private Fund is White Rock Management, the general partner of which is White Rock, Inc. Thomas U.
Barton and Joseph U. Barton are the shareholders of White Rock, Inc. In such capacities, each of Thomas U. Barton and Joseph U. Barton
may be deemed to be the beneficial owner of the Shares held for the account of White Rock Partners and the Private Fund.
| Item 2(b) | Address of Principal Business
Office or, if None, Residence: |
The address and principal
business office of each of White Rock Management, White Rock, Inc., White Rock Partners, Thomas U. Barton and Joseph U. Barton is 3131
Turtle Creek Boulevard, Suite 800, Dallas, Texas 75219.
| (i) | White Rock Management is a Texas limited partnership; |
| (ii) | White Rock Partners is a Texas limited partnership; |
| (iii) | White Rock, Inc. is a Texas corporation; |
| (iv) | Thomas U. Barton is a United States citizen; and |
| (v) | Joseph U. Barton is a United States citizen. |
| Item 2(d) | Title of Class of Securities: |
Common Stock, $0.001 par value per share.
72942A107
| Item 3. | If this statement is filed pursuant
to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
This Item 3 is not applicable.
| Item 4(a) | Amount Beneficially Owned: |
As of December 31, 2021,
White Rock Partners owns 2,172,900 Shares. In addition, White Rock Partners owns two separate warrants that, in the aggregate, are exercisable
to acquire 1,888,700 Shares. Each warrant provides that the number of shares of the Issuer’s common stock that may be acquired
upon any exercise of the applicable warrant is generally limited to the extent necessary to ensure that, following such exercise, the
holder would not, together with its affiliates and any other persons or entities whose beneficial ownership of the Issuer’s common
stock would be aggregated for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, beneficially own in excess
of 9.99% of the total number of shares of the Issuer’s common stock then issued and outstanding and/or the then combined voting
power of all of the Issuer’s voting securities (the “Exercise Limitation”). As a result of the Exercise Limitation,
the beneficial ownership reported in this Schedule 13G excludes that portion of the warrants that are subject to the Exercise Limitation
(subject to rounding) as it relates to each of the Reporting Persons (which may differ among the Reporting Persons).
White Rock Management is
the investment manager of White Rock Partners, and also serves as the the investment manager of a separate private investment vehicle
(the “Private Fund”) that owns 250,000 Shares. The Shares owned by the Private Fund are not included in the beneficial ownership
of White Rock Partners reported in this Schedule 13G, but, those Shares are included in the beneficial ownership of White Rock Management,
White Rock, Inc. and each of Thomas Barton and Joseph Barton reported in this Schedule 13G.
| Item 4(b) | Percent of Class: |
See the responses to Item
11 on each attached cover page.
| Item 4(c) | Number of shares as to which
the person has: |
| (i) | Sole power to vote or to direct the vote: See the responses to Item
5 on each attached cover page. |
| (ii) | Shared power to vote or to direct the vote: See the responses to
Item 6 on each attached cover page. |
| (iii) | Sole power to dispose or to direct the disposition of: See the responses
to Item 7 on each attached cover page. |
| (iv) | Shared power to dispose or to direct the disposition of: See the
responses to Item 8 on each attached cover page. |
| 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 5 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: |
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.
By signing below each signatory
certifies that, to the best of his/its 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.
SIGNATURES
After reasonable inquiry
and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete
and correct.
Date: February 15, 2022 |
WHITE ROCK CAPITAL MANAGEMENT, L.P. |
|
|
|
|
|
By: |
White Rock Capital (TX), Inc. |
|
|
Its General Partner |
|
|
|
|
|
|
By: |
/s/
Thomas U. Barton |
|
|
|
Thomas U. Barton |
|
|
|
|
Date: February 15, 2022 |
WHITE ROCK CAPITAL PARTNERS, L.P. |
|
|
|
|
|
By: |
White Rock Capital Management, L.P. |
|
|
Its General Partner |
|
|
|
|
|
|
By: |
White Rock Capital (TX), Inc. |
|
|
|
Its General Partner |
|
|
|
|
|
|
|
|
|
|
|
By: |
/s/
Thomas U. Barton |
|
|
|
|
Thomas U. Barton |
|
|
|
|
Date: February 15, 2022 |
WHITE ROCK CAPITAL (TX), INC. |
|
|
|
|
|
By: |
/s/
Thomas U. Barton |
|
|
Thomas U. Barton |
|
|
|
|
Date: February 15, 2022 |
THOMAS U. BARTON |
|
|
|
|
|
By: |
/s/
Thomas U. Barton |
|
|
Thomas U. Barton |
|
|
|
|
Date: February 15, 2022 |
JOSEPH U. BARTON |
|
|
|
|
|
By: |
/s/
Joseph U. Barton |
|
|
Joseph U. Barton |