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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Subscription Rights (right to buy) (2) | $ 50 | 07/03/2012 | J(2)(3) | 400 | 06/15/2012 | 07/09/2012 | 3.00% Convertible Preferred Stock, Series A | 400 | $ 0.8398 (3) | 500 (4) (5) | I | By Spouse | |||
| Subscription Rights (right to buy) (2) | $ 50 | 07/03/2012 | J(2)(3) | 60 | 06/15/2012 | 07/09/2012 | 3.00% Convertible Preferred Stock, Series A | 60 | $ 0.89 (3) | 60 (4) | I | By Spouse | |||
| Subscription Rights (right to buy) (2) | $ 50 | 07/05/2012 | J(2)(3) | 100 | 06/15/2012 | 07/09/2012 | 3.00% Convertible Preferred Stock, Series A | 100 | $ 0.85 (3) | 100 (4) | I | By Minor Children | |||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Dakos Andrew C/O SPECIAL OPPORTUNITIES FUND, INC. 615 EAST MICHIGAN STREET MILWAUKEE, WI 53202 |
X | President | ||
| /s/ Andrew Dakos | 07/06/2012 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | The Reporting Person disclaims beneficial ownership of the securities owned by his spouse and this report should not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purposes. |
| (2) | Transferable subscription rights ("Rights") were issued on a pro rata basis to stockholders of record as of June 15, 2012 in connection with a rights offering by the Issuer. Each Right entitles its holder to purchase one share of 3.00% Convertible Preferred Stock, Series A ("Preferred Stock") at a subscription price of $50 per share. |
| (3) | The Rights being reported hereunder were purchased on the open market. |
| (4) | The Reporting Person disclaims beneficial ownership of the securities owned by his spouse and minor children and this report should not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purposes. |
| (5) | Total includes 100 Rights acquired in connection with the pro rata distribution of Rights to existing stockholders of the Issuer. |