Sec Form 13D Filing - Noll Shaun filing for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF) - 2022-12-12

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
Under the Securities Exchange Act of 1934
(Amendment No. 4)*

DIRTT Environmental Solutions Ltd.
(Name of Issuer)

Common Shares, no par value
(Title of Class of Securities)

25490H106
(CUSIP Number)

Shaun Noll
2494 Sand Hill Rd.,
Menlo Park, CA, 94025
(415) 284-7486)
 (Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

December 9, 2022
(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. [X]

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent.

* 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. 25490H106
Page 2

1
NAMES OF REPORTING PERSONS
 
 
 
726 BF LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
 
WC (See Item 3)
 
 
 
 
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
None
 
 
 
 
8
SHARED VOTING POWER
 
 
 
11,928,214
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
None
 
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
11,928,214
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 
11,928,214
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
 
12.2% (1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
 
OO
 
 
& #xA0;
 

(1)
Based upon 97,382,390 shares of common stock, no par value per share (the “Common Shares”), outstanding following the Private Placement described in Amendment No. 3.






CUSIP No. 25490H106
Page 3

1
NAMES OF REPORTING PERSONS
 
 
 
Peter Briger
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
 
PF (See Item 3)
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
None
 
 
 
 
8
SHARED VOTING POWER
 
 
 
11,928,214
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
None
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
11,928,214
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 
11,928,214
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
 
12.2% (1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
 
IN
 
 
 
 

(1)
Based upon 97,382,390 Common Shares outstanding following the Private Placement described in Amendment No. 3.





CUSIP No. 25490H106
Page 4

1
NAMES OF REPORTING PERSONS
 
 
 
726 BC LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
 
WC (See Item 3)
 
 
 
 
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
None
 
 
 
 
8
SHARED VOTING POWER
 
 
 
4,996,844
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
None
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
4,996,844
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 
4,996,844
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
 
5.1% (1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
 
OO
 
 
 
 

(1)
Based upon 97,382,390 Common Shares outstanding following the Private Placement described in Amendment No. 3.





CUSIP No. 25490H106
Page 5

1
NAMES OF REPORTING PERSONS
 
 
 
Matthew Briger
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
 
PF (See Item 3)
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
None
 
 
 
 
8
SHARED VOTING POWER
 
 
 
4,996,844
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 None
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
4,996,844
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 
4,996,844
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 

 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
5.1%  (1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
 
IN
 
 
 
 

(1)
Based upon 97,382,390 Common Shares outstanding following the Private Placement described in Amendment No. 3.






CUSIP No. 25490H106
Page 6

1
NAMES OF REPORTING PERSONS
 
 
 
Shaun Noll
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
 
PF (See Item 3)
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 
1,145,207
 
 
 
 
8
SHARED VOTING POWER
 
 
 
16,925,058
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 
1,145,207
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
16,925,058
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 
18,070,265
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
 
18.6%  (1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
 
IN
 
 
 
 

(1)
Based upon 97,382,390 Common Shares outstanding following the Private Placement described in Amendment No. 3.




This Amendment No. 3 (this “Amendment No. 4”) to the Statement on Schedule 13D in respect of the Common Shares of the Issuer (as hereby amended, the “Statement”) is being filed by the Reporting Persons with the SEC to report the events described herein. This Amendment amends and supplements the Statement as originally filed with the SEC on November 17, 2021 and previously amended on January 14, 2022, June 24, 2022 and December 2, 2022. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed thereto in the Statement prior to amendment by this Amendment No. 4.

ITEM 3.
SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
 
On December 9, 2022, 726 BF LLC purchased 2,313,094 Common Shares in open market transactions, for total consideration of $693,928.20, including commissions, On the same date, 726 BC LLC purchased 1, 156,547 Common Shares in open market transactions, for total consideration of $346,964.10, including commissions. Each Reporting Person made its purchase from cash on hand.

ITEM 5.
INTEREST IN SECURITIES OF THE ISSUER.

Item 5(a)-(b) of the Statement on Schedule 13D is hereby amended and restated in its entirety as follows:

“The information contained in rows 7, 8, 9, 10, 11 and 13 on the cover pages of this Amendment No. 4 is incorporated by reference in its entirety into this Item 5.”

Item 5(c) of the Statement on Schedule 13D is hereby amended by the addition of the following:

“Except for the transactions described in Item 3 of this Amendment, the Reporting Persons have not engaged in any transaction in Common Shares since filing Amendment No. 3.”





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.

Dated:  December 12, 2022
 
 
726 BF LLC
 
 
 
 
 
 
By:
/s/ Shaun Noll
 
 
 
Name:  Shaun Noll
 
 
 
Title:    Chief Investment Officer and
President
 
 

 
PETER BRIGER
 
 
 
 
 
 
By:
/s/ Shaun Noll
 
 
 
Name: Shaun Noll
attorney-in-fact for Peter Briger
 


 
726 BC LLC
 
 
 
 
 
 
By:
/s/ Shaun Noll
 
 
 
Name:  Shaun Noll
 
 
 
Title:    Chief Investment Officer and
President
 
 

 
MATTHEW BRIGER
 
 
 
 
 
 
By:
/s/ Shaun Noll
 
 
 
Name: Shaun Noll
attorney-in-fact for Matthew Briger
 


 
SHAUN NOLL
 
 
 
 
 
 
By:
/s/ Shaun Noll
 
 
 
Name: Shaun Noll