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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 20)
Under the Securities Exchange Act of 1934
AVID TECHNOLOGY, INC.
----------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
-----------------------------
(Title of Class of Securities)
05367P100
---------
(CUSIP Number)
Deborah L. Perkovich
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 28, 2015
--------------
(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 which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
*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).
Page 1 of 17
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 2 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-3205364
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
----------------------------------------------------------------------------
7. SOLE VOTING POWER 6,815,571**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 6,815,571**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 6,815,571**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.4%**
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 3 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-2967812
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
----------------------------------------------------------------------------
7. SOLE VOTING POWER 6,855,081**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 6,855,081**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 6,855,081**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.5%**
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 4 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809436
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 3,828,333**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 3,828,333**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 3,828,333**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.8%**
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 5 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 02-0742606
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 3,828,333**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 3,828,333**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 3,828,333**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.8%**
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 6 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BCP III AIV A, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 47-4681679
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 3,828,333**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 3,828,333**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 3,828,333**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.8%**
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * *
..
CUSIP NO. 05367P100 SCHEDULE 13D Page 7 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC PARTNERS III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809438
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING -0-
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0%
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 8 of 17
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588693
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 2,987,238**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 2,987,238**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 2,987,238**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6%
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 9 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588732
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 2,987,238**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 2,987,238**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 2,987,238**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6%
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 10 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC PARTNERS IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588744
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0-
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0%
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 11 of 17
----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BCP IV AIV A, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 47-4699519
----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
----------------------------------------------------------------------------
3. SEC USE ONLY
----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
----------------------------------------------------------------------------
7. SOLE VOTING POWER 2,987,238**
NUMBER OF ---------------------------------------------------------
SHARES 8. SHARED VOTING POWER -0-
BENEFICIALLY
OWNED BY EACH ---------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 2,987,238**
---------------------------------------------------------
10. SHARED DISPOSITIVE POWER -0-
----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 2,987,238**
PERSON
----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6%
----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 12 of 17
Item 1. Security and Issuer
-----------------------------
This Amendment No. 20 amends the Statement on Schedule 13D (the "Schedule
13D") filed with the Securities and Exchange Commission (the "Commission")
on October 10, 2012 by Blum Capital Partners, L.P., a California limited
partnership, ("Blum LP"); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); Blum Strategic GP III, L.L.C., a Delaware limited
liability company ("Blum GP III"); Blum Strategic GP III, L.P., a Delaware
limited partnership ("Blum GP III LP"); Blum Strategic Partners III, L.P., a
Delaware limited partnership ("Blum Strategic III"); Blum Strategic GP IV,
L.L.C., a Delaware limited liability company ("Blum GP IV"); Blum Strategic
GP IV, L.P., a Delaware limited partnership ("Blum GP IV LP"); and Blum
Strategic Partners IV, L.P., a Delaware limited partnership ("Blum Strategic
IV"). This Amendment 20 is filed on behalf of Blum LP, RCBA Inc., Blum GP
III, Blum GP III LP, Blum Strategic III, Blum GP IV, Blum GP IV LP, Blum
Strategic IV, BCP IV AIV A, L.P., a Delaware limited partnership ("AIV IV")
and BCP III AIV A, L.P., a Delaware limited partnership ("AIV III" and,
collectively, the "Reporting Persons").
This amendment relates to shares of common stock, $.01 par value per share
(the "Common Stock") of Avid Technology, Inc., a Delaware corporation (the
"Issuer"). The principal executive office and mailing address of the Issuer
is 75 Network Drive, Burlington, MA 01803.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the Schedule 13D as previously amended.
Item 2. Identity and Background
---------------------------------
Item 2 is hereby amended and restated in its entirety with the following:
Blum LP is a California limited partnership whose principal business is
acting as general partner for investment partnerships and providing
investment advisory services. Blum LP is an investment adviser registered
with the Securities and Exchange Commission and directly or indirectly
serves as investment advisor to the other Reporting Persons, except RCBA
Inc. The sole general partner of Blum LP is RCBA Inc.
The principal business office address of Blum LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the executive officers and directors of RCBA Inc., their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President, Suite 400 Blum LP
Chairman & Director San Francisco, CA 94133
Murray McCabe 909 Montgomery St. USA Managing Partner,
Managing Partner Suite 400 Blum LP
San Francisco, CA 94133
CUSIP NO. 05367P100 SCHEDULE 13D Page 13 of 17
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
------------------- ----------------------- --------- --------------------
Peter Westley 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Zachary Stout 909 Montgomery St. USA Chief Operating
Chief Operating Suite 400 Officer
Officer San Francisco, CA 94133 Blum LP
Deborah L. Perkovich 909 Montgomery St. USA Chief Financial
Chief Financial Suite 400 Officer & Chief
Officer & Chief San Francisco, CA 94133 Compliance Officer
Compliance Officer Blum LP
Blum GP III is a Delaware limited liability company whose principal business
is acting as the general partner of Blum GP III LP, a Delaware limited
partnership, whose principal business is acting as the general partner of
Blum Strategic III and AIV III, each of whose principal office is 909
Montgomery Street, Suite 400, San Francisco, California 94133.
The principal business office address of Blum GP III and Blum GP III LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP III, their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ---------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Blum GP IV is a Delaware limited liability company whose principal business
is acting as the general partner of Blum GP IV LP, a Delaware limited
partnership, whose principal business is acting as the general partner of
Blum Strategic IV and AIV IV, each of whose principal office is 909
Montgomery Street, Suite 400, San Francisco, California 94133.
The principal business office address of Blum GP IV and Blum GP IV LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The
names of the managing members and members of Blum GP IV, their addresses,
citizenship and principal occupations are as follows:
CUSIP NO. 05367P100 SCHEDULE 13D Page 14 of 17
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
-------------------- ---------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Murray McCabe 909 Montgomery St. USA Managing Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or
similar misdemeanors), nor been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Considerations
------------------------------------------------------------
There have been no changes to Item 3 since the Schedule 13D Amendment
filed on May 1, 2008.
Item 4. Purpose of Transaction
--------------------------------
Item 4 of the Schedule 13D is hereby amended and supplemented by replacing
and restating the fourth paragraph as follows:
Pursuant to an internal reorganization on August 31, 2015(the
"Reorganization") the following transactions occurred:
* Blum Strategic IV contributed 2,987,238 shares of Common Stock of
the Issuer to AIV IV in exchange for all of AIV IV's outstanding
limited partnership interests.
* Blum Strategic IV distributed, on a pro rata basis, all of its
limited partnership interests in AIV IV to Blum Strategic IV's
limited partners.
* Blum GP IV LP sold a portion of its partnership interest in AIV IV,
representing an interest in 18,925 shares of Common Stock of the
Issuer, to an affiliate at a privately negotiated price equal to
$13.63 per share. These shares continued to be directly held by AIV
IV.
* Blum Strategic III contributed 3,849,222 shares of Common Stock to
AIV III in exchange for all of AIV III's outstanding limited
partnership interests.
* Blum Strategic III distributed, on a pro rata basis, all of its
limited partnership interests in AIV III to Blum Strategic III's
limited partners.
CUSIP NO. 05367P100 SCHEDULE 13D Page 15 of 17
* Blum GP III LP sold a portion of its partnership interest in
AIV III, representing an interest in 24,991 shares of Common Stock
of the Issuer, to an affiliate at a privately negotiated price
equal to $13.63 per share. After such sale, these shares of Common
Stock continued to be directly held by Blum Strategic III.
The Reorganization did not have the effect of changing the number of shares
of Common Stock over which Blum LP, RCBA Inc., Blum GP III, Blum GP III LP,
Blum GP IV, Blum GP IV LP or the Reporting Persons as a group may have
been deemed to have voting and dispositive power.
Item 5. Interest in Securities of the Issuer
----------------------------------------------
Item 5 is hereby amended and restated in its entirety with the following:
(a), (b) According to the Issuer's 10-Q filed with the Commission on
August 10, 2015, there were 39,222,974 shares of Common Stock issued and
outstanding as of August 7, 2015. Based on such information, after taking
into account the transactions described in Item 5(c) below, the Reporting
Persons report beneficial ownership of the following shares of Common Stock:
(i) 2,987,238 shares of the Common Stock held directly by AIV IV, which
represents 7.6% of the outstanding shares of Common Stock; (ii) 3,828,333
shares of the Common Stock held directly by AIV III, which represents 9.8%
of the outstanding shares of Common Stock; (iii) 2,987,238 shares of the
Common Stock held by AIV IV over which each of Blum GP IV LP, as general
partner of AIV IV, and BLUM GP IV, as general partner of Blum GP IV LP, may
be deemed to have voting and dispositive power, which represents 7.6% of the
outstanding shares of Common Stock;(iv) 3,828,333 shares of the Common Stock
held directly by AIV III over which each of Blum GP III LP, as general
partner of AIV III, and BLUM GP III, as general partner of Blum GP III LP,
may be deemed to have voting and dispositive power, which represents 9.8%
of the outstanding shares of Common Stock; (v) 6,815,571 held by AIV III
and AIV IV over which Blum LP may be deemed to have voting and dispositive
power in its capacity as an investment advisor, which represents 17.4%
of the outstanding shares of Common Stock; and (vi) 6,855,081 shares of
Common Stock, consisting of 39,510 shares of Common Stock held directly
by RCBA Inc. and the 6,815,571 shares of Common Stock over which Blum LP
may be deemed to have voting and dispositive power and over which RCBA Inc.,
as general partner of Blum LP, may also be deemed to have voting and
dispositive power, which represents 17.5% of the outstanding shares of
Common Stock. The information with respect to each Reporting Person set
forth in Items 7 through 13 of the cover pages to this Amendment No. 20
is incorporated by reference herein.
The Reporting Persons may be deemed to be members in a group, in which case
the group would be deemed to have beneficial ownership of an aggregate of
6,855,081 shares of the Common Stock, which is 17.5% of the outstanding
Common Stock. The filing of this Schedule shall not be construed as an
admission that any Reporting Person is the beneficial owner of any
securities beneficially owned by any other Reporting Person or that the
shareholders, directors or executive officers, managing members or members
of any of the Reporting Persons is the beneficial owner of any of the
securities that are beneficially owned by any of the Reporting Persons.
CUSIP NO. 05367P100 SCHEDULE 13D Page 16 of 17
(c) The information set forth in Item 4 of this Amendment No. 20 with
respect to the Reorganization is incorporated by reference herein.
The Reporting Persons have sold the following shares of the Common Stock
of the Issuer through open market transactions:
Entity Trade Date Shares Price/Share
------- ------------ -------- ------------
AIV III 09-28-2015 178,381 $8.0962
09-29-2015 70,752 $7.8150
09-30-2015 1,645 $8.0100
10-01-2015 20,889 $8.0172
(d) Not applicable.
(e) On August 31, 2015, in connection with the Reorganization, each
of Blum Strategic III and Blum Strategic IV ceased to beneficially own
any shares of the Common Stock of the Issuer.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
---------------------------------------------------------------------------
There have been no changes to Item 6 since the Schedule 13D Amendment filed
on February 27, 2012.
Item 7. Material to be Filed as Exhibits
------------------------------------------
Exhibit A - Joint Filing Undertaking
* * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 17 of 17
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
Undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: October 1, 2015
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
--------------------------- --------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
---------------------------- --------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP III, L.P.,
its General Partner
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
----------------------------- ---------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC PARTNERS IV, L.P.
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP IV, L.P.,
its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
------------------------------- ---------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BCP IV AIV A, L.P. BCP III AIV A, L.P.
By: Blum Strategic GP IV, L.P. By: Blum Strategic GP III, L.P.
Its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP III, L.L.C.
Its General Partner its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
-------------------------- --------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
* * * * * * *
CUSIP NO. 05367P100 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: October 1, 2015
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
------------------------------- --------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
------------------------------- --------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP III, L.P.,
its General Partner
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
------------------------------- ---------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC PARTNERS IV, L.P.
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP IV, L.P.,
its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
------------------------------- ---------------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BCP IV AIV A, L.P. BCP III AIV A, L.P.
By: Blum Strategic GP IV, L.P. By: Blum Strategic GP III, L.P.
Its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP III, L.L.C.
Its General Partner its General Partner
By: /s/ Deborah L. Perkovich By: /s/ Deborah L. Perkovich
-------------------------- --------------------------
Deborah L. Perkovich Deborah L. Perkovich
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer