CUSIP No.
29881X100
|
13D
|
Page
3
of 5 Pages
|
This Amendment No. 1 to Schedule 13D (the Amendment) is being filed with the SEC by Tryfon Natsis and Despoina Pantopoulou, as Joint Tenants with the Right of Survivorship (together, the Reporting Persons), to amend and restate the disclosures contained in the Schedule 13D originally filed on May 31, 2016 by the Reporting Persons with respect to their ownership of the common stock, par value $0.001 per share (the Common Stock), of EuroSite Power Inc., a company incorporated under the laws of Delaware (the Issuer). This Amendment is being filed to reflect changes in beneficial ownership of the Reporting Persons that have occurred as a result of pension plan distributions of additional shares of Common Stock to the Reporting Persons in September 2016.
Item 1.
Security and Issuer.
The class of securities to which this Amendment relates is the Common Stock of the Issuer. The principal executive office of the Issuer is 45 First Avenue, Waltham, MA 02451.
Item 2.
Identity and Background.
There have been no material changes to the information previously reported under Item 2 in the Schedule 13D with respect to the Reporting Persons.
Item 3.
Source and Amount of Funds or Other Consideration.
Item 3. Source and Amount of Funds or Other Consideration of the Schedule 13D is hereby amended and restated to read in its entirety as follows:
On October 3, 2014, pursuant to a Convertible Note Amendment Agreement by and among Tryfon Natsis, the Issuer and certain other noteholders, Mr. Natsis converted, in full, his 4% Senior Convertible Note Due 2018, originally issued by the Issuer on April 24, 2014 (the Note), in the aggregate principal amount of $300,000, into 600,000 shares of Common Stock of the Issuer. The Note was cancelled and the Reporting Persons, as Joint Tenants with the Right of Survivorship, were issued shares of the Issuers Common Stock at a conversion price of $0.50 per share.
The Reporting Persons are collectively the beneficiaries of an International Pension Plan (an IPP) managed by RBC Corporate Employee & Executive Services. On January 29, 2016, the Reporting Persons received a distribution from their IPP that consisted of (i) 2,893,949 shares of Common Stock of the Issuer and (ii) 414,000 warrants to purchase shares of Common Stock of the Issuer. These warrants are immediately exercisable and will expire on October 3, 2017.
On May 4, 2016, pursuant to a Convertible Note Exchange Agreement by and among Tryfon Natsis and American DG Energy Inc. (ADGE), the Issuers parent, Mr. Natsis exchanged, in full, his 6% Senior Convertible Note Due 2018, originally issued on October 3, 2014 by ADGE, in the aggregate principal amount of $6,900,000, for the receipt by the Reporting Persons, as Joint Tenants with the Right of Survivorship, of 10,920,000 shares of Common Stock of the Issuer.
On September 27, 2016, the Reporting Persons received a distribution from their IPP that consisted of (i) 4,957,348 shares of Common Stock of the Issuer and (ii) 606,000 warrants to purchase shares of Common Stock of the Issuer. These warrants are immediately exercisable at a conversion price of $0.60 and will expire on October 3, 2017.
Item 4.
Purpose of Transaction.
There have been no material changes to the information previously reported under Item 4 in the Schedule 13D with respect to the Reporting Persons.
Item 5.
Interest in Securities of the Issuer.
Item 5. Interest in Securities of the Issuer of the Schedule 13D is hereby amended and restated to read in its entirety as follows:
CUSIP No.
29881X100
|
13D
|
Page
4
of 5 Pages
|
(a)
According to information provided by the Issuer, 82,265,056 shares of the Issuers Common Stock were outstanding as of August 11, 2016, which number excludes the Reporting Persons warrants to purchase 1,020,000 shares within 60 days of August 11, 2016. As of September 27, 2016, the Reporting Persons directly beneficially own, as Joint Tenants with the Right of Survivorship, 20,391,297 shares, or 24.5% of the shares outstanding, of the Issuers Common Stock, including 1,020,000 shares which may be acquired at any time upon the exercise of warrants for the Issuers Common Stock that are held by the Reporting Persons.
(b)
Each Reporting Person shares voting and dispositive power of all 20,391,297 of such Reporting Persons shares of the Issuers Common Stock with the other Reporting Person.
(c)
On September 27, 2016, the Reporting Persons received, as Joint Tenants with the Right of Survivorship, a distribution from their IPP that consisted of (i) 4,957,348 shares of Common Stock of the Issuer and (ii) 606,000 warrants to purchase shares of Common Stock of the Issuer. These warrants are immediately exercisable at a conversion price of $0.60 and will expire on October 3, 2017.
(d)
Inapplicable.
(e)
Inapplicable.
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Other than as described above and in Items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships with respect to the securities of the Issuer between the Reporting Persons.
Item 7.
Material to be Filed as Exhibits.
None.