Teekay Corp Ltd Amends Teekay Tankers Ownership Filing

TL;DR

Teekay Corp Ltd just updated its stake in Teekay Tankers. Details TBD.

AI Summary

On October 11, 2024, Teekay Corp Ltd filed an amendment (SC 13D/A) to its Schedule 13D, indicating a change in its beneficial ownership of Teekay Tankers Ltd. The filing does not specify the exact percentage change or the number of shares involved, but it is an update to a previous filing.

Why It Matters

This filing signals a potential shift in the control or influence of Teekay Tankers Ltd. by its major shareholder, Teekay Corp Ltd.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings can indicate significant changes in a major shareholder's position, potentially impacting the stock price.

Key Players & Entities

• Teekay Corp Ltd (company) — Filing entity and beneficial owner
• Teekay Tankers Ltd. (company) — Subject company

FAQ

Key Financial Figures

• $20.8 m — ions for an aggregate purchase price of $20.8 million, on the dates and at average pric

Filing Documents

• d888192dsc13da.htm (SC 13D/A) — 59KB
• 0001193125-24-236792.txt ( ) — 61KB

From the Filing

SC 13D/A 1 d888192dsc13da.htm SC 13D/A SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 7)* Teekay Tankers Ltd. (Name of Issuer) Class A Common Stock (Title of Class of Securities) G8726X 106 (CUSIP Number) N. Angelique Burgess 2nd Floor, Swan Building, 26 Victoria Street, Hamilton HM 12, Bermuda Telephone: (441) 298-2530 with a copy to: David Matheson, Esq. Perkins Coie, LLP, 1120 NW Couch Street, 10 th Floor Portland, Oregon 97209 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 10, 2024 (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. * The remainder of this cover page shall be filled out for a reporting persons 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 purposes 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). SCHEDULE 13D/A CUSIP No. G8726X 106 Page 2 of 7 Pages 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Teekay Corporation Ltd. 98-0224774 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a)(b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 10,642,414 shares of Class A common stock (1) 8 SHARED VOTING POWER -0- 9 SOLE DISPOSITIVE POWER 10,642,414 shares of Class A common stock (1) 10 SHARED DISPOSITIVE POWER -0- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,642,414 shares of Class A common stock (1) 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 31.0% (2) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO (1) As of the date of this Amendment No. 7 to the Schedule 13D filed by Teekay Corporation Ltd. on December 28, 2007, as amended by Amendments No. 1, 2, 3, 4, 5, and 6 filed on December 20, 2017, December 23, 2021, January 28, 2022, August 23, 2022, September 9, 2022, and October 3, 2024, respectively, (the Original Schedule 13D), Teekay Corporation Ltd. through its wholly-owned subsidiaries, Teekay Holdings Limited and Teekay Finance Limited, beneficially owns 6,016,417 shares of Class A common shares (Class A Common Shares) and 4,625,997 shares of Class B common shares (Class B Common Shares). The Class B Common Shares are convertible into Class A Common Shares on a one-for-one basis, at any time at the election of the Reporting Person, and automatically upon the occurrence of certain events, as discussed in Item 6 of the Original Schedule 13D. (2) Calculated based on 29,730,260 Class A Common Shares and 4,625,997 Class B Common Shares outstanding as of October 11, 2024. 2 of 7 Explanatory Note: This Amendment No. 7 (this Amendment) amends and supplements the statement on Schedule 13D filed by Teekay Corporation Ltd. (formerly Teekay Corporation) on December 28, 2007 and Amendments No. 1, 2, 3, 4, 5, and 6 on Schedule 13D filed by Teekay Corporation Ltd. on December 28, 2017, December 23, 2021, January 28, 2022, August 23, 2022, September 9, 2022, and October 3, 2024, respectively (together, the Original Schedule 13D). Except as specifically provided herein, this Amendment does not modify any of the information previously reported on the Original Schedule 13D. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Schedule 13D. Each of the Reporting Person and the Issuer redomiciled from The Republic of the Marshall Islands to Bermuda effective October 1, 2024. Item1. Security and Issuer This Amendment relates to shares of Class A common stock (the Class A Common Shares) of Teekay Tankers Ltd., an exempted company organized under the laws of Bermuda (the Issuer), with principal executive offices at 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM 12, Bermuda. Item2. Identity and Background This Amendment amends and restates Item 2 of the Original Schedule 13D in it

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View this SC 13D/A filing on SEC EDGAR