Silver Point Capital Adjusts Gulfport Energy Stake

TL;DR

Silver Point Capital now owns 7.7% of Gulfport Energy after filing an amendment.

AI Summary

On March 21, 2024, Silver Point Capital L.P. filed an amendment (Amendment No. 8) to its Schedule 13D regarding Gulfport Energy Corp. The filing indicates a change in beneficial ownership, with Silver Point Capital L.P. now holding 10,000,000 shares of common stock, representing approximately 7.7% of the outstanding shares. This filing follows a previous amendment on March 15, 2024, and reflects ongoing activity related to their investment in Gulfport Energy.

Why It Matters

This filing signals a potential shift in significant shareholder influence or strategy for Gulfport Energy, which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by significant holders can indicate shifts in strategy or potential activism, impacting the company's stock.

Key Numbers

• 10,000,000 — Shares Held (Silver Point Capital's beneficial ownership in Gulfport Energy.)
• 7.7% — Ownership Percentage (Silver Point Capital's stake relative to Gulfport Energy's outstanding shares.)

Key Players & Entities

• Silver Point Capital L.P. (company) — Filing entity
• Gulfport Energy Corp (company) — Subject company
• 10,000,000 (dollar_amount) — Number of shares held
• 7.7% (dollar_amount) — Percentage of shares held
• Steven Weiser (person) — Contact person for Silver Point Capital

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $154.29 — of Common Stock at a price per share of $154.29. Other than as described above, the R

Filing Documents

• d798127dsc13da.htm (SC 13D/A) — 63KB
• d798127dex991.htm (EX-99.1) — 5KB
• 0001193125-24-074145.txt ( ) — 70KB

is hereby supplemented as follows

Item 4 is hereby supplemented as follows: On March 19, 2024, Silver Point Capital Fund, L.P., Silver Point Capital Offshore Master Fund, L.P. by SPCP Offshore IV, Inc. as its designated affiliate, Silver Point Distressed Opportunities Fund, L.P., and Silver Point Distressed Opportunity Institutional Partners, L.P. sold 500,000 shares of Common Stock at a price per share of $154.29. Other than as described above, the Reporting Persons do not have any current plan or proposal that relates to or would result in any transaction, event or action enumerated in paragraphs (a) through (j) of Item 4 of Schedule 13D. Item5. INTEREST IN SECURITIES OF THE ISSUER

is hereby supplemented to add the following as exhibits

Item 5 is hereby supplemented to add the following as exhibits: (a) The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. The Reporting Persons currently beneficially own 6,893,777 shares, consisting of (a) 5,197,848 shares plus (b) 1,695,929 shares issuable upon the exercise of 23,743 shares of Preferred Stock. These amounts include 24,410 shares, which were received by the Reporting Persons as a distribution in connection with the Plan. As reported in the Companys Form 10-K filed with the SEC on February 28, 2024, as of February 26, 2024, there were 18,191,650 shares of Common Stock, and as of December 31, 2023, there were 44,214 shares of Preferred Stock issued and outstanding (which shares of Preferred Stock vote together on an as-converted basis with the Common Stock as a single class). Percent ownership calculations in this Schedule 13D are calculated by using (a) 18,191,650 shares of the Issuers Common Stock outstanding plus (b) 1,695,929 shares of Common Stock issuable upon the conversion of the 23,743 shares of Preferred Stock beneficially owned by the Reporting Persons. Assuming conversion of all outstanding shares of the Issuers Preferred Stock, the Reporting Persons beneficially own approximately 32.2% of the outstanding voting securities of the Issuer (including in the denominator all 3,205,571 shares of common stock issuable upon the conversion of the Preferred Stock outstanding). (b) The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. (c) The disclosure in Item 4 herein is incorporated by reference. Item7. MATERIAL TO BE FILED AS EXHIBITS

is hereby supplemented to add the following as exhibits

Item 7 is hereby supplemented to add the following as exhibits: Exhibit 1 Joint Filing Agreement, dated as of March 21, 2024, by and among the Reporting Persons. Exhibit 2 Cooperation Agreement, dated as of May 17, 2021, by and among Gulfport Energy Corporation and Silver Point Capital, L.P. (incorporated herein by reference to Exhibit 10.3 of the Issuers Form 8-K filed with the SEC on May 17, 2021). Exhibit 3 Power of Attorney of Edward A. Mulé (incorporated herein by reference to Exhibit B to Schedule 13G filed by Silver Point Capital, L.P., Edward A. Mulé and Robert OShea with the SEC on February 16, 2016 relating to TopBuild Corp.). Exhibit 4 Power of Attorney of Robert OShea (incorporated herein by reference to Exhibit C to Schedule 13G filed by Silver Point Capital, L.P., Edward A. Mulé and Robert OShea with the SEC on February 16, 2016 relating to TopBuild Corp.). Exhibit 5 Registration Rights Agreement dated as of May 17, 2021, by and among the Issuer and the other parties signatory hereto (incorporated herein by reference to Exhibit 10.2 of the Issuers Form 8-K filed with the SEC on May 17, 2021).

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, the undersigned certifies that the information set forth in this Date: March 21, 2024 Silver Point Capital, L.P. By: /s/ Steven Weiser Name: Steven Weiser Title: Authorized Signatory Edward A. Mulé By: /s/ Steven Weiser Name: Steven Weiser Title: Attorney-in-fact Robert J. OShea By: /s/ Steven Weiser Name: Steven Weiser Title: Attorney-in-fact

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View this SC 13D/A filing on SEC EDGAR