Sec Form 13D Filing - Raging Capital Management LLC filing for IMMERSION CORP (IMMR) - 2020-12-23

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.
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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. 15)1

 

Immersion Corporation

(Name of Issuer)

 

Common Stock, $0.001 par value

(Title of Class of Securities)

 

452521107

(CUSIP Number)

 

William C. Martin

Ten Princeton Avenue, P.O. Box 228

Rocky Hill, New Jersey 08553

(609) 357-1870

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

December 21, 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).

    

 

CUSIP No. 452521107

 

  1   NAME OF REPORTING PERSON  
         
       

Raging Capital Management, LLC

 
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  3   SEC USE ONLY    
           
           
  4   SOURCE OF FUNDS  
         
       

AF
 
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
       
           
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
         
       

DELAWARE

 
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY        

- 0 -

 
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING        

3,782,935

 
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
         

- 0 -

 
    10   SHARED DISPOSITIVE POWER  
           
         

3,782,935

 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
       

3,782,935

 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
       

14.0% 

 
  14   TYPE OF REPORTING PERSON  
         
       

IA

 

  

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CUSIP No. 452521107

 

  1   NAME OF REPORTING PERSON  
         
       

William C. Martin

 
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
        (b) ☐
           
  3   SEC USE ONLY    
           
           
  4   SOURCE OF FUNDS  
         
       

AF

 
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
       
           
  6   CITIZENSHIP OR PLACE OF ORGANIZATION  
         
       

USA

 
NUMBER OF   7   SOLE VOTING POWER  
SHARES          
BENEFICIALLY        

32,030

 
OWNED BY   8   SHARED VOTING POWER  
EACH          
REPORTING        

3,782,935

 
PERSON WITH   9   SOLE DISPOSITIVE POWER  
         
         

13,487

 
    10   SHARED DISPOSITIVE POWER  
           
         

3,782,935

 
  11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
       

3,814,965

 
  12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
       
           
  13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
       

14.2%

 
  14   TYPE OF REPORTING PERSON  
         
       

HC

 

  

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CUSIP No. 452521107

  

The following constitutes Amendment No. 15 to the Schedule 13D filed by the undersigned (“Amendment No. 15”). This Amendment No. 15 amends the Schedule 13D as specifically set forth herein.

 

Item 5.Interest in Securities of the Issuer.

 

Items 5(a) - (c) are hereby amended and restated to read as follows:

 

(a)       The aggregate percentage of Shares reported owned by each person named herein is based upon 26,937,105 Shares outstanding as of October 30, 2020, 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 6, 2020.

 

As of the close of business on December 22, 2020, each of Raging Capital and William C. Martin may be deemed to beneficially own the 3,782,935 Shares, constituting approximately 14.0% of the Shares outstanding, held by Raging Master by virtue of their relationships with Raging Master discussed in further detail in Item 2.

 

As of the close of business on December 22, 2020, William C. Martin may be deemed to beneficially own an additional 32,030 Shares of restricted stock (18,543 Shares of which are unvested), which, together with the 3,782,935 Shares held by Raging Master that he may also be deemed to beneficially own, constitute approximately 14.2% of the Shares outstanding.

 

(b)       Raging Capital and William C. Martin may be deemed to share the power to vote and dispose of the Shares held by Raging Master. Mr. Martin has the sole power to vote and dispose the Shares of vested restricted stock held by him and the sole power to vote the Shares of unvested restricted stock held by him.

 

(c)       Schedule B annexed hereto lists all transactions by the Reporting Persons in the Shares during the past 60 days. All of such transactions were effected in the open market.

  

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CUSIP No. 452521107

 

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:  December 23, 2020 Raging Capital Management, LLC
   
  By: /s/ Frederick C. Wasch
    Name: Frederick C. Wasch
    Title: Chief Financial Officer

 

  /s/ Frederick C. Wasch
  Frederick C. Wasch as attorney-in-fact for William C. Martin

 

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CUSIP No. 452521107

 

SCHEDULE B

 

Transactions in the Shares During the Past 60 Days

 

Class of

Security

Shares Purchased / (Sold)

Price ($)

Date of

Purchase / Sale

 

Raging Capital Master Fund, Ltd.

 

Common Stock (26,895) 9.0511 11/27/2020
Common Stock (68,473) 9.1644 12/16/2020
Common Stock (61,743) 9.0936 12/17/2020

Common Stock

(50,124) 9.1525 12/18/2020
Common Stock (116,295) 9.2088 12/21/2020
Common Stock (3,352) 9.0122 12/22/2020

 

 

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