<SEC-DOCUMENT>0000922423-21-000072.txt : 20211220
<SEC-HEADER>0000922423-21-000072.hdr.sgml : 20211220
<ACCEPTANCE-DATETIME>20211220163146
ACCESSION NUMBER:		0000922423-21-000072
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20211220
DATE AS OF CHANGE:		20211220
GROUP MEMBERS:		FRONTFOUR CAPITAL CORP.
GROUP MEMBERS:		FRONTFOUR CAPITAL GROUP LLC
GROUP MEMBERS:		FRONTFOUR MASTER FUND, LTD.
GROUP MEMBERS:		FRONTFOUR OPPORTUNITY FUND

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PhenixFIN Corp
		CENTRAL INDEX KEY:			0001490349
		IRS NUMBER:				274576073
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-86732
		FILM NUMBER:		211505648

	BUSINESS ADDRESS:	
		STREET 1:		445 PARK AVENUE
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-759-0777

	MAIL ADDRESS:	
		STREET 1:		445 PARK AVENUE
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Medley Capital Corp
		DATE OF NAME CHANGE:	20110118

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Medley Capital BDC LLC
		DATE OF NAME CHANGE:	20100426

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lorber David A
		CENTRAL INDEX KEY:			0001358538

	FILING VALUES:
		FORM TYPE:		SC 13D

	MAIL ADDRESS:	
		STREET 1:		C/O FRONTFOUR CAPITAL GROUP LLC
		STREET 2:		35 MASON STREET, 4TH FLOOR
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>kl688565_sc13d.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
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    <div style="text-align: center; font-weight: bold;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION<br>
      Washington, D.C. 20549</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
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    <div style="text-align: center; font-weight: bold;">SCHEDULE 13D</div>
    &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
    <div style="text-align: center;">Under the Securities Exchange Act of 1934 (Amendment No. )</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
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    <div style="text-align: center;"><font style="font-weight: bold;"><u>PHENIXFIN CORPORATION</u></font><br>
      (Name of Issuer)</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: center;"><font style="font-weight: bold;"><u>Common Stock</u></font><br>
      (Title of Class of Securities)</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: center;"><font style="font-weight: bold;"><u>71742W103</u></font><br>
      (CUSIP Number)</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: center; font-weight: bold;">David Lorber,</div>
    <div style="text-align: center; font-weight: bold;">445 Park Avenue, 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor</div>
    <div style="text-align: center; font-weight: bold;">New York, NY 10022</div>
    <div style="text-align: center;"><font style="font-weight: bold;">(212) 859-0390</font><br>
      (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: center;"><font style="font-weight: bold;"><u>December 8, 2021</u></font><br>
      (Date of Event which Requires Filing of this Statement)</div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">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&#8209;1(e),
      13d-1(f) or 13d-1(g), check the following box:&#160;&#160;&#9744;</div>
    <div>&#160;</div>
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      <hr align="center" style="border-width: 1px medium 4px; border-style: solid none; border-color: black -moz-use-text-color; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; height: 10px; color: rgb(255, 255, 255); background-color: rgb(255, 255, 255); text-align: center; margin-left: auto; margin-right: auto;"></div>
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    <div style="text-align: center; font-weight: bold;">SCHEDULE 13D</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="3" border="0" id="za5ae399db18d4ccc8753fab926232731" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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            <div style="font-weight: bold;">CUSIP No.</div>
          </td>
          <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;71742W103</div>
          </td>
          <td style="width: 49.7%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Page 2 of 11 Pages</div>
          </td>
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    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="6" border="0" id="z99c6896a3bc34430ac7f18054141c16f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">1</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>NAMES OF REPORTING PERSONS<br>
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
              <div> <br>
              </div>
              <div>David Lorber</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">2</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
              <div>&#160;&#160;&#160;&#160;(a) [&#160; ]<br>
                &#160;&#160;&#160; (b) [&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">3</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SEC USE ONLY</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">4</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SOURCE OF FUNDS (See Instructions)</div>
              <div>PF, AF</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">5</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</div>
              <div>[&#160;&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">6</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div>U.S. Citizen</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" rowspan="4" colspan="2">
              <div style="text-align: center;">NUMBER OF<br>
                SHARES<br>
                BENEFICIALLY&#160;<br>
                OWNED BY<br>
                EACH<br>
                REPORTING<br>
                PERSON<br>
                WITH</div>
            </td>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">7</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE VOTING POWER</div>
              <div>45,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">8</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED VOTING POWER</div>
              <div>84,748.116</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">9</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE DISPOSITIVE POWER</div>
              <div>45,000</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">10</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED DISPOSITIVE POWER</div>
              <div>84,748.116</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">11</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div>129,748.116</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">12</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)&#160;</div>
              <div>[&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">13</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div>5.1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">14</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>TYPE OF REPORTING PERSON (See Instructions)</div>
              <div>IN</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
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    <div>&#160;</div>
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            <div style="font-weight: bold;">CUSIP No.</div>
          </td>
          <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;71742W103</div>
          </td>
          <td style="width: 49.7%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Page 3 of 11 Pages</div>
          </td>
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    </table>
    <div>&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="6" border="0" id="z543e52d9c03e4d37ac01531a4f3b77b4" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">1</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>NAMES OF REPORTING PERSONS<br>
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
              <div> <br>
              </div>
              <div>FrontFour Master Fund, Ltd.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">2</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
              <div>&#160;&#160;&#160;&#160;(a) [&#160; ]<br>
                &#160;&#160;&#160; (b) [&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">3</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SEC USE ONLY</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">4</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SOURCE OF FUNDS (See Instructions)</div>
              <div>WC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">5</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</div>
              <div>[&#160;&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">6</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div>Cayman Islands</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" rowspan="4" colspan="2">
              <div style="text-align: center;">NUMBER OF<br>
                SHARES<br>
                BENEFICIALLY&#160;<br>
                OWNED BY<br>
                EACH<br>
                REPORTING<br>
                PERSON<br>
                WITH</div>
            </td>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">7</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE VOTING POWER</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">8</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED VOTING POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">9</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE DISPOSITIVE POWER</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">10</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED DISPOSITIVE POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">11</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">12</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)&#160;</div>
              <div>[&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">13</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div>3.2%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">14</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>TYPE OF REPORTING PERSON (See Instructions)</div>
              <div>CO</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
    </div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="3" border="0" id="z26000e059e9242709d6648ab3a8885b3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 10%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">CUSIP No.</div>
          </td>
          <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;71742W103</div>
          </td>
          <td style="width: 49.7%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Page 4 of 11 Pages</div>
          </td>
        </tr>

    </table>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="6" border="0" id="z1dbdb70daf834e6ba9d532a95cbc17de" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">1</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>NAMES OF REPORTING PERSONS<br>
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
              <div> <br>
              </div>
              <div>FrontFour Opportunity Fund</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">2</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
              <div>&#160;&#160;&#160;&#160;(a) [&#160; ]<br>
                &#160;&#160;&#160; (b) [&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">3</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SEC USE ONLY</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">4</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SOURCE OF FUNDS (See Instructions)</div>
              <div>WC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">5</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</div>
              <div>[&#160;&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">6</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div>British Columbia, Canada</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" rowspan="4" colspan="2">
              <div style="text-align: center;">NUMBER OF<br>
                SHARES<br>
                BENEFICIALLY&#160;<br>
                OWNED BY<br>
                EACH<br>
                REPORTING<br>
                PERSON<br>
                WITH</div>
            </td>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">7</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE VOTING POWER</div>
              <div>2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">8</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED VOTING POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">9</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE DISPOSITIVE POWER</div>
              <div>2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">10</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED DISPOSITIVE POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">11</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div>2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">12</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)&#160;</div>
              <div>[&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">13</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div>Less than 1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">14</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>TYPE OF REPORTING PERSON (See Instructions)</div>
              <div>OO</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="3" border="0" id="z8974c871f127457ca625123a935681e2" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 10%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">CUSIP No.</div>
          </td>
          <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;71742W103</div>
          </td>
          <td style="width: 49.7%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Page 5 of 11 Pages</div>
          </td>
        </tr>

    </table>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="6" border="0" id="zfa9047480b5047df93b8826c39e1745d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">1</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>NAMES OF REPORTING PERSONS<br>
                I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
              <div> <br>
              </div>
              <div>FrontFour Capital Group LLC</div>
              <div>
                <div>20-5997207</div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">2</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
              <div>&#160;&#160;&#160;&#160;(a) [&#160; ]<br>
                &#160;&#160;&#160; (b) [&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">3</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SEC USE ONLY</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">4</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>SOURCE OF FUNDS (See Instructions)</div>
              <div>AF</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">5</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</div>
              <div>[&#160;&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">6</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div>Delaware</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" rowspan="4" colspan="2">
              <div style="text-align: center;">NUMBER OF<br>
                SHARES<br>
                BENEFICIALLY&#160;<br>
                OWNED BY<br>
                EACH<br>
                REPORTING<br>
                PERSON<br>
                WITH</div>
            </td>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">7</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE VOTING POWER</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">8</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED VOTING POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">9</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SOLE DISPOSITIVE POWER</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">10</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>SHARED DISPOSITIVE POWER</div>
              <div>0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">11</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div>81,662.416</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">12</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)&#160;</div>
              <div>[&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">13</div>
            </td>
            <td style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
              <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div>3.2%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">14</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>TYPE OF REPORTING PERSON (See Instructions)</div>
              <div>IA, OO</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
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    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="3" border="0" id="z8440ecc67a024d389a45b9c08ab8db82" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

        <tr>
          <td nowrap="nowrap" style="width: 10%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">CUSIP No.</div>
          </td>
          <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;71742W103</div>
          </td>
          <td style="width: 49.7%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Page 6 of 11 Pages</div>
          </td>
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    </table>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="5" border="0" id="z00fd0a368b3d4bc2930f20af41d53c8d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">1</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>NAMES OF REPORTING PERSONS<br>
                &#160;I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</div>
              <div> <br>
              </div>
              <div>&#160;FrontFour Capital Corp.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">2</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*</div>
              <div>&#160;&#160;&#160;&#160;&#160;(a) [&#160; ]<br>
                &#160;&#160;&#160;&#160; (b) [&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">3</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>SEC USE ONLY</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">4</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>SOURCE OF FUNDS (See Instructions)</div>
              <div>&#160;AF</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">5</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</div>
              <div>&#160;[&#160;&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">6</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div>&#160;British Columbia, Canada</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" rowspan="4" colspan="2">
              <div style="text-align: center;">NUMBER OF<br>
                SHARES<br>
                BENEFICIALLY<br>
                OWNED BY<br>
                EACH<br>
                REPORTING<br>
                PERSON<br>
                WITH</div>
            </td>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">7</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div>SOLE VOTING POWER</div>
              <div>&#160;2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">8</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div>SHARED VOTING POWER</div>
              <div>&#160;0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">9</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div>SOLE DISPOSITIVE POWER</div>
              <div>&#160;2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">10</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div>SHARED DISPOSITIVE POWER</div>
              <div>&#160;0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">11</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div>&#160;2,085.7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">12</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)&#160;</div>
              <div>&#160;[&#160; ]</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">13</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div>&#160;Less than 1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-weight: bold;">14</div>
            </td>
            <td style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
              <div>TYPE OF REPORTING PERSON (See Instructions)</div>
              <div>&#160;CO</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 5%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 80%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
    </div>
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    <!--PROfilePageNumberReset%Num%7%%%-->
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">SCHEDULE 13D</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">Schedule 13D</div>
    <div style="text-align: justify; font-weight: bold;">Item 1. Security and Issuer</div>
    <div>&#160;</div>
    <div style="text-align: justify;">This Statement on Schedule 13D filed on December 20, 2021 (this &#8220;<u>Schedule 13D</u>&#8221;), relating to the common stock, $0.001 par value (the &#8220;<u>Common Stock</u>&#8221;), of PhenixFIN Corporation, a Delaware corporation (the
      &#8220;<u>Company</u>&#8221;), the principal executive offices of which are located at 445 Park Avenue, 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor, New York, NY 10022.</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160; <br>
    </div>
    <div style="font-weight: bold;">Item 2. Identity and Background.</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
    </div>
    <div style="text-align: justify;">(a) This Schedule 13D is filed on behalf of:</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(i) David A. Lorber, an individual;</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(ii) FrontFour Master Fund, Ltd., an exempted company formed under the laws of the Cayman Islands (the &#8220;<u>Master Fund</u>&#8221;);</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(iii) FrontFour Opportunity Fund, a mutual fund trust formed under the laws of British Columbia, Canada (the &#8220;<u>Canadian Fund</u>&#8221;);</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(iv) FrontFour Capital Group LLC, a limited liability company formed under the laws of the State of Delaware (&#8220;<u>FrontFour Capital</u>&#8221;); and</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">(v) FrontFour Capital Corp., a corporation formed under the laws of British Columbia, Canada (&#8220;<u>FrontFour Corp.</u>&#8221;).</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
    </div>
    <div style="text-align: justify;">(b) Mr. Lorber&#8217;s business address is 445 Park Avenue, 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor, New York, NY 10022. The principal business address of each of FrontFour Capital, FrontFour Corp. and the Canadian Fund is 500 West Putnam
      Suite 400, Greenwich, Connecticut 06830. The principal business address of the Master Fund is c/o Intertrust Cayman, 190 Elgin Avenue, George Town, Grand Cayman KY1-9007, Cayman Islands. The directors, executive officers and principals of each of
      FrontFour Capital, the Master Fund, the Canadian Fund and FrontFour Corp. and their principal occupations and business addresses are set forth on&#160;<u>Schedule A</u>&#160;attached hereto and are incorporated by reference in this Item 2.</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify;">(c) The principal business of each of the Master Fund and the Canadian Fund is investing in securities. The principal business of FrontFour Capital is serving as the investment manager of the Master Fund.&#160; The
      principal business of FrontFour Corp. is serving as the investment manager of the Canadian Fund.&#160;Mr. Lorber is presently the Chairman and Chief Executive Officer of PhenixFIN Corporation, managing member and principal owner of FrontFour Capital and
      director and principal owner of FrontFour Corp. By virtue of these relationships, each of FrontFour Capital and Mr. Lorber may be deemed to beneficially own the shares of Common Stock directly beneficially owned by the Master Fund and each of
      FrontFour Corp. and Mr. Lorber may be deemed to beneficially own the shares of Common Stock directly beneficially owned by the Canadian Fund.</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify;">(d)-(e) Except as set forth herein, no Reporting Person, nor any person listed on <u>Schedule A</u>, has, during the last five years, been convicted in any criminal proceeding (excluding traffic violations or similar
      misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in his, her or its being 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.</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify;">(f) Mr. Lorber is a citizen of the United States of America.&#160; The citizenship of the persons listed on&#160;<u>Schedule A&#160;</u>is set forth therein.</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 3. Source and Amount of Funds or Other Consideration</div>
    <div>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160; <br>
    </div>
    <div>
      <div>The amount of funds used by Mr. Lorber to acquire the Common Stock beneficially owned by him and by his spouse&#8217;s individual retirement account (IRA), as to which he is
        deemed to have beneficial ownership, is $1,877,263, which was obtained from his personal funds.&#160; The amount of funds used by the Master Fund to acquire the Common Stock directly owned by it is $6,386,925, which was obtained from the working capital
        of the Master Fund.&#160; The amount of funds used by the Canadian Fund to acquire the Common Stock directly owned by it is $162,784, which was obtained from the working capital of the Canadian Fund.</div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Item&#160;4. Purpose of Transaction.</div>
    <div>&#160;</div>
    <div>Mr. Lorber is the Chairman and Chief Executive Officer of the Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">The Reporting Persons may acquire additional shares of Common Stock and other securities of the Issuer from time to time or may dispose of any or all of such shares or other securities held by it at any time, subject
      to applicable law.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Item 5. Interest in Securities of the Issuer</div>
    <div>&#160;</div>
    <div style="text-align: justify;">
      <div>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As of the date hereof, the Master Fund beneficially owned directly
          81,662.416 shares of Common Stock, the Canadian Fund beneficially owned directly 2,085.7 shares of Common Stock, Mr. Lorber beneficially owned 44,000 shares of Common Stock and Mr. Lorber is deemed to beneficially own 1,000 shares of Common Stock
          in his spouse&#8217;s IRA, constituting approximately 3.2%, less than 1%, 1.8% and less than 1%, respectively, of the shares of Common Stock outstanding.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
      <div>&#160;</div>
      <div>Mr. Lorber, as a managing member and principal owner of FrontFour Capital and a principal owner of FrontFour Corp., may be deemed to beneficially own the 84,748.116
        shares of Common Stock beneficially owned in the aggregate by the Master Fund and the Canadian Fund, which, together with the 44,000 shares of Common Stock he beneficially owns and 1,000 shares of Common Stock which he is deemed to have beneficial
        ownership, constitute approximately 5.1% of the Common Stock outstanding.</div>
      <div>&#160;</div>
      <div>FrontFour Capital, as the investment manager of the Master Fund, may be deemed to beneficially own&#160; the 81,662.416 shares of Common Stock beneficially owned by the
        Master Fund, which constitute approximately 3.2% of the Common Stock outstanding.</div>
      <div>&#160;</div>
      <div>FrontFour Corp., as the investment manager of the Canadian Fund, may be deemed to beneficially own the 2,085.7 shares of Common Stock beneficially owned by the
        Canadian Fund, which constitute less than 1% of the Common Stock outstanding.</div>
      <div>&#160;</div>
      <div>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mr. Lorber has the sole power to vote or dispose of 44,000 shares of
          Common Stock beneficially owned by him and 1,000 shares of Common Stock held in his spouse&#8217;s IRA as to which he has voting and dispositive power.</div>
      <div>&#160;</div>
      <div>By reason of his responsibility for the supervision and conduct of investment activities of the Master Fund and the Canadian Fund, as managing member and principal
        owner of FrontFour Capital and as director and principal owner of FrontFour Corp., respectively, Mr. Lorber may be deemed to possess the shared power to vote and dispose of the shares of Common Stock beneficially owned by the Master Fund and the
        Canadian Fund.</div>
      <div>&#160;</div>
      <div>By reason of its responsibility for the supervision and conduct of investment activities of the Master Fund as its investment manager, FrontFour Capital may be deemed
        to possess the sole power to vote and dispose of the shares of Common Stock beneficially owned by the Master Fund.</div>
      <div>&#160;</div>
      <div>By reason of its responsibility for the supervision and conduct of investment activities of the Canadian Fund as its investment manager, FrontFour Corp. may be deemed
        to possess the sole power to vote and dispose of the shares of Common Stock beneficially owned by the Canadian Fund.</div>
      <div>&#160;</div>
      <div>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On December 8, 2021, Mr. Lorber acquired 30,000 shares of Common Stock
          at a purchase price of $43.00 per share in a privately negotiated purchase transaction.</div>
      <div>&#160;</div>
    </div>
    <div style="text-align: justify;"> <br>
    </div>
    <div> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
      <div style="text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Percentages of the shares of Common Stock outstanding reported in this Schedule 13D are calculated based upon 2,517,221 shares of Common Stock outstanding, based on the number of shares of Common Stock
        outstanding as of October 4, 2021, as reported in the Company&#8217;s Prospectus Supplement filed with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) on November 8, 2021.</div>
    </div>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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          <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>kl688565_ex9901.htm
<DESCRIPTION>JOINT FILING AGREEMENT
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    <div style="text-align: justify; text-indent: 36pt;">In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
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</SEC-DOCUMENT>
