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Tengram Capital discloses voting rights in Differential Brands

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Tengram Capital discloses voting rights in Differential Brands

Private equity firm Tengram Capital Partners LLC and its co-founders, Matthew Eby and William Sweedler, disclosed their voting rights in apparel company Differential Brands Group Inc. in a SEC filing on Feb. 2.

Tengram Capital Partners Gen2 Fund LP disclosed a shared voting power of 1,363,306 shares of common stock or 10.2% of the company; Tengram Capital Associates LLC holds 1,517,774 shares or 11.4% of Differential Brands as shared voting rights; TCP Denim LLC holds 5,388,282 shares or 28.8% as shared voting rights; and Tengram Capital Partners Fund II LP and Tengram Capital Associates II LLC hold 10,476,246 shares or 44% as shared voting rights. All the firms are controlled by Eby and Sweedler.

Additionally, Sweedler, who is the board chairman of the company, disclosed a sole voting power over 9,059 shares of common stock and shared voting power over 11,994,020 shares of the company's common stock in the company to represent a 50.4% stake. Eby, who is an independent director of Differential Brands, also disclosed 9,058 shares in sole voting power and shared voting power over 11,994,020 shares of common stock.

The filing also said that on Jan. 18, the outstanding principal balance of the SWIMS convertible note, together with any accrued and unpaid interest, converted into 4,587,964 shares of series A-1 preferred stock at a price of $3.00 per share. As a result, the company said the SWIMS convertible note was repaid in full.

The voting powers were taken in the company on Jan. 18.