Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.__)*
Angel Oak Financial Strategies Income Term Trust
(Name of Issuer)
Common Shares of Beneficial Interest
(Title of Class of Securities)
03464A100
(CUSIP Number)
June 9, 2020
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐Rule 13d-1(b)
☒Rule 13d-1(c)
☐Rule 13d-1(d)
* 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. 03464A100
|
1
|
NAME OF REPORTING PERSONS
Castle Creek Fund, L.P.
|
||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ☐
(b) ☐ |
|||
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3
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SEC USE ONLY
|
||||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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||||
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NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
|
SOLE VOTING POWER
0
|
|||
|
6
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SHARED VOTING POWER
458,256
|
||||
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7
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SOLE DISPOSITIVE POWER
0
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||||
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8
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SHARED DISPOSITIVE POWER
458,256
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||||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
458,256
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||||
|
10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
☐
|
|||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.0%
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||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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||||
2
CUSIP No. 03464A100
|
1
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NAME OF REPORTING PERSONS
Castle Creek Partners, LLC
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||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ☐
(b) ☐ |
|||
|
3
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SEC USE ONLY
|
||||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
|
||||
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NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
|
SOLE VOTING POWER
0
|
|||
|
6
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SHARED VOTING POWER
458,256
|
||||
|
7
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SOLE DISPOSITIVE POWER
0
|
||||
|
8
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SHARED DISPOSITIVE POWER
458,256
|
||||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
458,256
|
||||
|
10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.0%
|
||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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||||
3
CUSIP No. 03464A100
|
1
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NAME OF REPORTING PERSONS
Daniel Asher
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||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ☐
(b) ☐ |
|||
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3
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SEC USE ONLY
|
||||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
||||
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NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
|
SOLE VOTING POWER
0
|
|||
|
6
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SHARED VOTING POWER
1,557,715
|
||||
|
7
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SOLE DISPOSITIVE POWER
0
|
||||
|
8
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SHARED DISPOSITIVE POWER
1,557,715
|
||||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,557,715
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||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.3%
|
||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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||||
4
CUSIP No. 03464A100
|
1
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NAME OF REPORTING PERSONS
AFO Blackberry LLC
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||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a) ☐
(b) ☐ |
|||
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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
|
SOLE VOTING POWER
0
|
|||
|
6
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SHARED VOTING POWER
1,081,207
|
||||
|
7
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SOLE DISPOSITIVE POWER
0
|
||||
|
8
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SHARED DISPOSITIVE POWER
1,081,207
|
||||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,081,207
|
||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.1%
|
||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
|
||||
5
CUSIP No. 03464A100
|
1
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NAME OF REPORTING PERSONS
AFOB FIP MS, LLC
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||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
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(a) ☐
(b) ☐ |
|||
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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
|
SOLE VOTING POWER
0
|
|||
|
6
|
SHARED VOTING POWER
1,081,207
|
||||
|
7
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SOLE DISPOSITIVE POWER
0
|
||||
|
8
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SHARED DISPOSITIVE POWER
1,081,207
|
||||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,081,207
|
||||
|
10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
|
☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.1%
|
||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
|
||||
6
CUSIP No. 03464A100
|
1
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NAME OF REPORTING PERSONS
Oakmont Investments, LLC
|
||||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ☐
(b) ☐ |
|||
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3
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SEC USE ONLY
|
||||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
|
||||
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NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
|
SOLE VOTING POWER
0
|
|||
|
6
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SHARED VOTING POWER
18,252
|
||||
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7
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SOLE DISPOSITIVE POWER
0
|
||||
|
8
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SHARED DISPOSITIVE POWER
18,252
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,252
|
||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
|
☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1%
|
||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
|
||||
7
CUSIP No. 03464A100
|
1
|
NAME OF REPORTING PERSONS
Sphinx Trading LP
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||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
|
(a) ☐
(b) ☐ |
|||
|
3
|
SEC USE ONLY
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
|
||||
|
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
|
SOLE VOTING POWER
0
|
|||
|
6
|
SHARED VOTING POWER
18,252
|
||||
|
7
|
SOLE DISPOSITIVE POWER
0
|
||||
|
8
|
SHARED DISPOSITIVE POWER
18,252
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,252
|
||||
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
Not Applicable
|
☐
|
|||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 1%
|
||||
|
12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
|
||||
8
SCHEDULE 13G
| Item 1(a). |
Name of Issuer:
|
Angel Oak Financial Strategies Income Term Trust (the “Issuer”)
| Item 1(b). |
Address of Issuer’s Principal Executive Offices:
|
3344 Peachtree Road NE
Suite 1725
Atlanta, Georgia 30326
| Item 2(a). |
Name of Person Filing:
|
The persons filing this Schedule 13G are:
Castle Creek Fund, L.P.
Castle Creek Partners, LLC
Daniel Asher
AFO Blackberry LLC
AFOB FIP MS, LLC
Oakmont Investments, LLC
Sphinx Trading LP
| Item 2(b). |
Address of Principal Business Office or, if none, Residence:
|
111 W Jackson Blvd
20th Floor
Chicago, IL 60604
| Item 2(c). |
Citizenship:
|
Castle Creek Fund, L.P. – Illinois
Castle Creek Partners, LLC - Illinois
Daniel Asher – United States
AFO Blackberry LLC - Delaware
AFOB FIP MS, LLC – Delaware
Oakmont Investments, LLC – Illinois
Sphinx Trading LP- Illinois
| Item 2(d). |
Title of Class of Securities:
|
Common Shares of Beneficial Interest
| Item 2(e). |
CUSIP Number:
|
03464A100
9
| 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
| Item 4. |
Ownership:
|
| (a) |
Amount Beneficially Owned: See Row 9 of cover page for each Reporting Person. The common share holdings and beneficial ownership information herein is all as of June 9, 2020, unless otherwise noted.
|
| (b) |
Percent of Class: See Row 11 of cover page for each Reporting Person. Percentages are based on 15,161,413 common shares outstanding, which is the pro forma combined fund common shares outstanding disclosed in
the Issuer’s definitive proxy statement dated April 28, 2020. The definitive proxy statement is the Issuer’s most current public filing reporting shares outstanding. The definitive proxy statement reported the expected common shares
outstanding as a result of the reorganization of the Vivaldi Opportunities Fund into the Issuer, as of the date of the definitive proxy statement. The actual shares outstanding as a result of the reorganization my differ, but have not
yet been publicly reported.
|
| (c) |
Number of shares as to which such person has:
|
| (i) |
sole power to vote or to direct the vote: See Row 5 of cover page for each Reporting Person.
|
| (ii) |
shared power to vote or to direct the vote: See Row 6 of cover page for each Reporting Person.
|
| (iii) |
sole power to dispose or to direct the disposition of: See Row 7 of cover page for each Reporting Person.
|
| (iv) |
shared power to dispose or to direct the disposition of: See Row 8 of cover page for each Reporting Person.
|
Daniel Asher owns in excess of 40% of, and controls the General Partner (namely Castle Creek Partners, LLC) to, Castle Creek Fund, L.P., and may be deemed to
control Fund and share voting and dispositive power over any shares held by the Fund.
AFO Blackberry LLC is the managing member of AFOB FIP MS, LLC and shares voting and dispositive power over any shares
held by AFOB FIP MS, LLC. Daniel Asher is deemed to control AFO Blackberry LLC.
Oakmont Investments, LLC is the general partner of Sphinx Trading LP and shares voting and dispositive power over any
shares held by Sphinx Trading LP. Daniel Asher is deemed to control Oakmont Investments, LLC.
10
| Item 5. |
Ownership of Five Percent or Less of a Class:
|
This statement is being filed to report the fact that as of the date hereof all of the reporting persons have ceased to be the beneficial owner of more than five
percent of the class of securities: 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
| Item 10. |
Certification:
|
Not Applicable
Exhibits.
| 99.1 |
Joint Filing Agreement
|
[Signatures follow on the next page.]
11
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: June 18, 2020
|
Castle Creek Fund, L.P.
By Castle Creek Partners, LLC, its General Partner
/s/ Fred Goldman
By: Fred Goldman
Its: Manager
|
|
|
Castle Creek Partners, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
|
|
/s/ Daniel Asher
Daniel Asher
|
|
|
AFO Blackberry LLC
/s/ Fred Goldman
By: Fred Goldman
Its: Treasurer
|
|
|
AFOB FIP MS, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: Treasurer
|
12
|
OAKMONT INVESTMENTS, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
|
|
SPHINX TRADING LP
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
13
EXHIBIT 99.1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a
Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Shares of Beneficial Interest of Angel Oak Financial Strategies Income Term Trust, and further agree that this Joint Filing Agreement shall be included as
an exhibit to such joint filing.
The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for
the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has
reason to believe that such information is inaccurate.
This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.
Date: June 18, 2020
|
Castle Creek Fund, L.P.
By Castle Creek Partners, LLC, its General Partner
/s/ Fred Goldman
By: Fred Goldman
Its: Manager
|
|
|
Castle Creek Partners, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
|
|
/s/ Daniel Asher
Daniel Asher
|
14
|
AFO Blackberry LLC
/s/ Fred Goldman
By: Fred Goldman
Its: Treasurer
|
|
|
AFOB FIP MS, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: Treasurer
|
|
|
OAKMONT INVESTMENTS, LLC
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
|
|
SPHINX TRADING LP
/s/ Fred Goldman
By: Fred Goldman
Its: CFO
|
15