<SEC-DOCUMENT>0001011438-20-000098.txt : 20200214
<SEC-HEADER>0001011438-20-000098.hdr.sgml : 20200214
<ACCEPTANCE-DATETIME>20200214153317
ACCESSION NUMBER:		0001011438-20-000098
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200214
DATE AS OF CHANGE:		20200214
GROUP MEMBERS:		DEREK C. SCHRIER
GROUP MEMBERS:		IC GP, LLC

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MDC PARTNERS INC
		CENTRAL INDEX KEY:			0000876883
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				980364441
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-53561
		FILM NUMBER:		20618778

	BUSINESS ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		646 429 1800

	MAIL ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORP INC
		DATE OF NAME CHANGE:	20001204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19961028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORPORATION
		DATE OF NAME CHANGE:	19950419

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Indaba Capital Management, L.P.
		CENTRAL INDEX KEY:			0001524362
		IRS NUMBER:				271639439
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE DM700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129
		BUSINESS PHONE:		(415) 680-1180

	MAIL ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE DM700
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Indaba Capital Management, LLC
		DATE OF NAME CHANGE:	20110627
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>form_sc13ga-mdcpartners.htm
<TEXT>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
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    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE 13G</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Under the Securities Exchange Act of 1934</div>
    <div style="text-align: center; font-weight: bold;">(Amendment No. 1)*</div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>MDC Partners Inc.</u></div>
    <div style="text-align: center;">(Name of Issuer)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>Class A Subordinate Voting Shares</u></div>
    <div style="text-align: center;">&#160;(Title of Class Securities)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;"><u>552697104</u></div>
    <div style="text-align: center;">(CUSIP Number)</div>
    <div><br>
    </div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;"><u>December 31, 2019</u></div>
    <div style="text-align: center;">(Date of Event Which Requires Filing of this Statement)</div>
    <div>&#160;</div>
    <div>Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zba21c5698f1b4d61b03268c3b3db5c71" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 41%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 54%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div>&#9746;</div>
          </td>
          <td style="width: 54%; vertical-align: top;">
            <div>Rule 13d-1(b)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 54%; vertical-align: top;">
            <div>Rule 13d-1(c)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 5%; vertical-align: top;">
            <div>&#9744;</div>
          </td>
          <td style="width: 54%; vertical-align: top;">
            <div>Rule 13d-1(d)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>*The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to the subject class of securities,
      and for any subsequent amendment containing information which would alter the disclosure provided in a prior cover page.</div>
    <div><br>
    </div>
    <div>The information required in the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of
      1934 (&#8220;Act&#8221;) 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).</div>
    <div>&#160;</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: right;">&#160;</div>
    <div><br>
    </div>
    <div style="margin-top: 10pt; margin-bottom: 10pt;"><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z00f4b7511a484912b372755517630606" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 32.48%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>CUSIP No. 552697104</div>
          </td>
          <td style="width: 33.78%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: center;">SCHEDULE 13G</div>
          </td>
          <td style="width: 33.74%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z593f681b956d49c28088dfa246dc8077" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 13.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.3%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 3.06%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 68.39%; vertical-align: middle;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>1</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>NAME OF REPORTING PERSONS.</div>
            <div>&#160;</div>
            <div>Indaba Capital Management, L.P.</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>2</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Check the Appropriate Box if a Member of a Group (See Instructions)</div>
            <div>&#160;</div>
            <div>(a) [&#160;&#160;&#160;]</div>
            <div>(b) [X]</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>3</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>SEC Use Only</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>4</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Citizenship or Place of Organization</div>
            <div>&#160;</div>
            <div>Delaware</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.56%; vertical-align: top; border-bottom: #000000 4px double;" rowspan="4" colspan="2">
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">NUMBER OF SHARES BENEFICIALLY</div>
            <div style="text-align: center;">OWNED BY EACH REPORTING</div>
            <div style="text-align: center;">PERSON WITH</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 28.58%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>5</div>
          </td>
          <td style="width: 42.86%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Voting Power</div>
            <div>&#160;</div>
            <div>0</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>6</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Voting Power</div>
            <div>&#160;</div>
            <div>&#160;7,181,301</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>7</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Dispositive Power</div>
            <div>&#160;</div>
            <div>0</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>8</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Dispositive Power</div>
            <div>&#160;</div>
            <div>&#160;7,181,301</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>9</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Aggregate Amount Beneficially Owned by Each Reporting Person</div>
            <div>&#160;</div>
            <div>7,181,301</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>10</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>11</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Percent of Class Represented by Amount in Row (9)</div>
            <div>&#160;</div>
            <div>9.9% (1)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>12</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Type of Reporting Person (See Instructions)</div>
            <div>&#160;</div>
            <div>IA, PN</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.3%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 3.06%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 68.39%; vertical-align: middle;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z741f4813b628450bbb6e5aa1f9755623" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 7.7%; vertical-align: top;">
            <div style="text-align: right;">(1)&#160;&#160;</div>
          </td>
          <td style="width: 92.3%; vertical-align: top;">
            <div>Calculation of the foregoing percentage is based on 72,142,668 Class A Subordinate Voting Shares of MDC Partners Inc. (the &#8220;Issuer&#8221;) outstanding as of
              October 18, 2019, as disclosed in the Issuer&#8217;s Form 10-Q filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) on November 6, 2019.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: right;">&#160;</div>
    <div>&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze7d15186017243688678c63a49b512b1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 32.48%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>CUSIP No. 552697104</div>
          </td>
          <td style="width: 33.78%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: center;">SCHEDULE 13G</div>
          </td>
          <td style="width: 33.74%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z17759ddcbfbe4ccfacaa00f0961fbd16" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>1</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>NAME OF REPORTING PERSONS.</div>
            <div>&#160;</div>
            <div>IC GP, LLC</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>2</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Check the Appropriate Box if a Member of a Group (See Instructions)</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>(a) [&#160;&#160; ]</div>
            <div>(b) [X]</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>3</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>SEC Use Only</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>4</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Citizenship or Place of Organization</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>Delaware</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.56%; vertical-align: top; border-bottom: #000000 4px double;" rowspan="4" colspan="2">
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">NUMBER OF SHARES BENEFICIALLY</div>
            <div style="text-align: center;">OWNED BY EACH REPORTING</div>
            <div style="text-align: center;">PERSON WITH</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 28.58%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>5</div>
          </td>
          <td style="width: 42.86%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Voting Power</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>6</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Voting Power</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>7,181,301</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>7</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Dispositive Power</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>8</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Dispositive Power</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>7,181,301</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>9</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Aggregate Amount Beneficially Owned by Each Reporting Person</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>7,181,301</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>10</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>&#160;</div>
            <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>11</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>&#160;</div>
            <div>Percent of Class Represented by Amount in Row (9)</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>9.9% (1)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>12</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>&#160;</div>
            <div>Type of Reporting Person (See Instructions)</div>
            <div>&#160;</div>
            <div>&#160;</div>
            <div>OO, HC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.3%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 3.06%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 68.39%; vertical-align: middle;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z89f395918b154c759378826bff65ca8b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 7.7%; vertical-align: top;">
            <div style="text-align: right;">(1)&#160;&#160;</div>
          </td>
          <td style="width: 92.3%; vertical-align: top;">
            <div>Calculation of the foregoing percentage is based on 72,142,668 Class A Subordinate Voting Shares of the Issuer outstanding as of October 18, 2019, as
              disclosed in the Issuer&#8217;s Form 10-Q filed with the SEC on November 6, 2019.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zeb667e2e2dc04c588d7ba188a274ea25" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 32.48%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>CUSIP No. 552697104</div>
          </td>
          <td style="width: 33.78%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: center;">SCHEDULE 13G</div>
          </td>
          <td style="width: 33.74%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6ec4493c60564f3f9709a98df61d07ee" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>1</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>NAME OF REPORTING PERSONS.</div>
            <div>&#160;</div>
            <div>Derek C. Schrier</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>2</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Check the Appropriate Box if a Member of a Group (See Instructions)</div>
            <div>&#160;</div>
            <div>(a) [&#160;&#160;&#160;]</div>
            <div>(b) [X]</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>3</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>SEC Use Only</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>4</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>Citizenship or Place of Organization</div>
            <div>&#160;</div>
            <div>United States</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.56%; vertical-align: top; border-bottom: #000000 4px double;" rowspan="4" colspan="2">
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">NUMBER OF SHARES BENEFICIALLY</div>
            <div style="text-align: center;">OWNED BY EACH REPORTING</div>
            <div style="text-align: center;">PERSON WITH</div>
            <div style="text-align: center;">&#160;</div>
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 28.58%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>5</div>
          </td>
          <td style="width: 42.86%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Voting Power</div>
            <div>&#160;</div>
            <div>0</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>6</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Voting Power</div>
            <div>&#160;</div>
            <div>7,181,301</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>7</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Sole Dispositive Power</div>
            <div>&#160;</div>
            <div>0</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 18.35%; vertical-align: top; border-bottom: #000000 4px double;" colspan="2">
            <div>&#160;</div>
            <div>8</div>
          </td>
          <td style="width: 25.52%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>Shared Dispositive Power</div>
            <div>&#160;</div>
            <div>7,181,301</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>9</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Aggregate Amount Beneficially Owned by Each Reporting Person</div>
            <div>&#160;</div>
            <div>7,181,301</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>10</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>11</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Percent of Class Represented by Amount in Row (9)</div>
            <div>&#160;</div>
            <div>9.9% (1)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: top; border-bottom: #000000 4px double;">
            <div>&#160;</div>
            <div>12</div>
          </td>
          <td style="width: 86.74%; vertical-align: top; border-bottom: #000000 4px double;" colspan="4">
            <div>&#160;</div>
            <div>Type of Reporting Person (See Instructions)</div>
            <div>&#160;</div>
            <div>IN, HC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 13.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 15.3%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 3.06%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 68.39%; vertical-align: middle;" colspan="2">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z46a7b14a5ace4d68ba995fa47763dab3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 7.7%; vertical-align: top;">
            <div style="text-align: right;">(1)&#160;&#160;</div>
          </td>
          <td style="width: 92.3%; vertical-align: top;">
            <div>Calculation of the foregoing percentage is based on 72,142,668 Class A Subordinate Voting Shares of the Issuer outstanding as of October 18, 2019, as
              disclosed in the Issuer&#8217;s Form 10-Q filed with the SEC on November 6, 2019.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div><br>
    </div>
    <div style="margin-top: 10pt; margin-bottom: 10pt;"><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>Amendment No. 1 to Schedule 13G</u></div>
    <div><br>
    </div>
    <div style="font-weight: bold;">&#160;Item 1.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za11942d36b1e44cbbf8995dbe3bbd63a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 6.31%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.31%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 27.84%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 10.12%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.32%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.32%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.57%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 30.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.31%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.31%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 27.84%; vertical-align: top;">
            <div>Name of Issuer</div>
          </td>
          <td style="width: 29.17%; vertical-align: middle;" colspan="6">
            <div>&#160;</div>
          </td>
          <td style="width: 30.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.63%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 46.85%; vertical-align: top;" colspan="4">
            <div>&#160;</div>
            <div>MDC Partners Inc. (the &#8220;Issuer&#8221;)</div>
            <div>&#160;</div>
          </td>
          <td style="width: 10.16%; vertical-align: middle;" colspan="3">
            <div>&#160;</div>
          </td>
          <td style="width: 30.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.31%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.31%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 57.01%; vertical-align: top;" colspan="7">
            <div>Address of Issuer&#8217;s Principal Executive Offices</div>
          </td>
          <td style="width: 30.36%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.63%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 87.37%; vertical-align: top;" colspan="8">
            <div>&#160;</div>
            <div>745 Fifth Avenue, 19th Floor, New York, NY 10151</div>
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="font-weight: bold;">Item 2.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zdfdfd0eaea394089ac6abeeea429a42e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 6.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 3.76%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.24%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 47.52%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.24%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 30%; vertical-align: top;" colspan="7">
            <div>Name of Person Filing</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;" colspan="4">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.5%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 86.24%; vertical-align: top;" colspan="11">
            <div>&#160;</div>
            <div>This Schedule 13G is being filed jointly on behalf of:</div>
            <div>&#160;</div>
            <div>(i) Indaba Capital Management, L.P., a Delaware limited partnership (the "Investment Manager"),</div>
            <div>&#160;</div>
            <div>(ii) IC GP, LLC, a Delaware limited liability company, and the Investment Manager&#8217;s sole general partner (&#8220;IC GP&#8221;), and</div>
            <div>&#160;</div>
            <div>(iii)&#160;Derek C. Schrier, a United States citizen and the Managing Member of IC GP (the &#8220;Managing Member&#8221; and, collectively with the Investment Manager
              and IC GP, the &#8220;Reporting Persons&#8221;).</div>
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.24%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 86.24%; vertical-align: top;" colspan="11">
            <div>Address of Principal Business office or, if None, Residence</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.5%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 86.24%; vertical-align: top;" colspan="11">
            <div>&#160;</div>
            <div>The business address of each of the Reporting Persons is One Letterman Drive, Building D, Suite DM700, San Francisco, California 94129</div>
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.24%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: top;">
            <div>(c)</div>
          </td>
          <td style="width: 17.48%; vertical-align: top;" colspan="3">
            <div>Citizenship:</div>
          </td>
          <td style="width: 68.76%; vertical-align: middle;" colspan="8">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.5%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 86.24%; vertical-align: top;" colspan="11">
            <div>&#160;</div>
            <div>The Investment Manager is a Delaware limited partnership, IC GP is a Delaware limited liability company and the Managing Member is a United States
              citizen.</div>
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.24%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: top;">
            <div>(d)</div>
          </td>
          <td style="width: 31.24%; vertical-align: top;" colspan="8">
            <div>Title of Class Securities:</div>
          </td>
          <td style="width: 55%; vertical-align: middle;" colspan="3">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.5%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 86.24%; vertical-align: top;" colspan="11">
            <div>&#160;</div>
            <div>Class A Subordinate Voting Shares (the &#8220;Shares&#8221;)</div>
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 6.24%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 6.26%; vertical-align: top;">
            <div>(e)</div>
          </td>
          <td style="width: 23.74%; vertical-align: top;" colspan="6">
            <div>CUSIP Number:</div>
          </td>
          <td style="width: 62.5%; vertical-align: middle;" colspan="5">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.5%; vertical-align: top;" colspan="2">
            <div>&#160;</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>&#160;</div>
            <div>552697104</div>
          </td>
          <td style="width: 71.24%; vertical-align: middle;" colspan="10">
            <div>&#160;</div>
          </td>
          <td style="width: 1.26%; vertical-align: top;">
            <div>&#160;</div>
          </td>
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    <div style="text-align: right;">&#160;</div>
    <div style="text-align: right;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    <div style="text-align: right;"> <br>
    </div>
    <div style="text-align: right;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2493391e43be451594518580f92d844b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
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            <div>&#160;</div>
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          <td style="width: 91%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
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        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div style="font-weight: bold;">Item 3.</div>
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            <div style="font-weight: bold;">If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:</div>
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    <div><br>
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            <div>&#160;</div>
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          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
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            <div>(a)</div>
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            <div>[&#160; ]</div>
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            <div>&#160;</div>
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    <div>&#160;</div>
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            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(b)</div>
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          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 74.38%; vertical-align: top;">
            <div>Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</div>
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        </tr>

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    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z5f7b40dc40394ca58aae28bff345ba6c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 12.79%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(c)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 74.38%; vertical-align: top;">
            <div>Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</div>
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    <div>&#160;</div>
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        <tr>
          <td style="width: 12.79%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160; &#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(d)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>Investment company registered under section 8 of the Investment Company Act (15 U.S.C. 80a-8).</div>
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        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za8f5c729d33d4c37a7c1033032b966b1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 12.71%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.6%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.97%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.46%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.71%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.6%; vertical-align: top;">
            <div>(e)</div>
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          <td style="width: 2.97%; vertical-align: top;">
            <div>[X]</div>
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          <td style="width: 2.46%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.26%; vertical-align: top;">
            <div>An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).</div>
          </td>
        </tr>

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    <div>&#160;</div>
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          <td style="width: 12.79%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(f)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).</div>
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    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z24d34b4004b1444287ed416fa39243ea" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 12.71%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.6%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.97%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.46%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.26%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.71%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.6%; vertical-align: top;">
            <div>(g)</div>
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          <td style="width: 2.97%; vertical-align: top;">
            <div>[X]</div>
          </td>
          <td style="width: 2.46%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.26%; vertical-align: top;">
            <div>A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).</div>
          </td>
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    <div>&#160;</div>
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          <td style="width: 12.79%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(h)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).</div>
          </td>
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    <div>&#160;</div>
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          <td style="width: 12.79%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(i)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940</div>
            <div>(15 U.S.C. 80a-3).</div>
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        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(j)</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J).</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12.79%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 7.7%; vertical-align: top;">
            <div>(k)</div>
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          <td style="width: 2.56%; vertical-align: top;">
            <div>[&#160; ]</div>
            <div>&#160;</div>
          </td>
          <td style="width: 2.56%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 74.38%; vertical-align: top;">
            <div>Group, in accordance with Rule 13d-1(b)(1)(ii)(K).</div>
            <div>&#160;</div>
          </td>
        </tr>

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    <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 91%; vertical-align: middle;">
            <div>&#160;</div>
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        <tr>
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            <div>&#160;</div>
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    <div>(a) Amount beneficially owned:</div>
    <div>&#160;</div>
    <div>As of December 31, 2019, the Reporting Persons beneficially owned the Shares referenced in Item 9 of the cover page pertaining to each Reporting Person and
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    <div><br>
    </div>
    <div>The Shares beneficially owned by the Reporting Persons are directly held by Indaba Capital Fund, L.P. (the &#8220;Fund&#8221;), a private investment fund for which the
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    <div>&#160;&#160;</div>
    <div>(b) Percent of class:</div>
    <div>&#160;</div>
    <div>Incorporated by reference to Item 11 of the cover page pertaining to each Reporting Person.</div>
    <div>&#160;</div>
    <div>(c) Number of shares to which the person has:</div>
    <div>&#160;</div>
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          <td style="width: 88.46%; vertical-align: top;">
            <div>(i) Sole power to vote or to direct the vote:</div>
          </td>
        </tr>

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    <div>&#160;</div>
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        <tr>
          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>Incorporated by reference to Item 5 of the cover page pertaining to each Reporting Person.</div>
          </td>
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    <div>&#160;</div>
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        <tr>
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            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>(ii) Shared power to direct the vote:</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z4cc129cc11bc4e4bbf7586a83a809e38" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>Incorporated by reference to Item 6 of the cover page pertaining to each Reporting Person.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z12316d392ed14bf58d6786fb2c1448a2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>(iii) Sole power to dispose or to direct the disposition of:</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>Incorporated by reference to Item 7 of the cover page pertaining to each Reporting Person.</div>
          </td>
        </tr>

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    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="ze2c685d9ee3646cf8e7de4dc7813d106" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>(iv) Shared power to dispose or to direct the disposition of:</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z91104f065b0a4aaaaf1291ff3331b824" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 11.54%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 88.46%; vertical-align: top;">
            <div>Incorporated by reference to Item 8 of the cover page pertaining to each Reporting Person.</div>
          </td>
        </tr>

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    <div>&#160;</div>
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          <td style="width: 92.3%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
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        <tr>
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            <div style="font-weight: bold;">Item 5.</div>
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            <div style="text-indent: 9pt; font-weight: bold;">Ownership of Five Percent or Less of a Class.</div>
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    <div><br>
    </div>
    <div>If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five
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            <div>&#160;</div>
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          <td style="width: 7.7%; vertical-align: top;">
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    <div><br>
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    <div>The Shares beneficially owned by the Reporting Persons are directly held by the Fund, for which the Investment Manager serves as investment manager.&#160;&#160;&#160;</div>
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        <tr>
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        <tr>
          <td style="width: 7.7%; vertical-align: top;">
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    <div><br>
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    <div><br>
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        </tr>

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    <div><br>
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        <tr>
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    <div><br>
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    <div>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of
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    <div style="text-align: center;">SIGNATURE</div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>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.</div>
    <div><br>
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    <div>Date:&#160;&#160;February 14, 2020</div>
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            <div>By:</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 35.72%; vertical-align: top;">
            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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        <tr>
          <td style="width: 49.85%; vertical-align: top;">
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          <td style="width: 3.1%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 35.72%; vertical-align: top;">
            <div>&#160;</div>
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          <td style="width: 11.34%; vertical-align: top;">
            <div>&#160;</div>
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            <div><u>/s/ Derek C. Schrier</u>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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    <div>&#160;&#160;</div>
    <div>&#160;</div>
    <div><br>
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    <div style="text-align: right;">&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
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