82 FR 35576 - C3 Capital Partners III, L.P.; License No. 07/07-0118; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest
SMALL BUSINESS ADMINISTRATION Federal Register Volume 82, Issue 145 (July 31, 2017)
Federal Register Volume 82, Issue 145 (July 31, 2017)
| Page Range | 35576-35577 | |
| FR Document | 2017-16008 |
[Federal Register Volume 82, Number 145 (Monday, July 31, 2017)] [Notices] [Pages 35576-35577] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-16008] ======================================================================= ----------------------------------------------------------------------- SMALL BUSINESS ADMINISTRATION C3 Capital Partners III, L.P.; License No. 07/07-0118; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that C3 Capital Partners III, L.P., 1511 Baltimore, Suite 500, Kansas City, KS 64108, a Federal Licensee under the Small Business Investment Act of 1958, as amended (``the Act''), in connection with the financing of a small concern, has sought an exemption under Section 312 of the Act and Section 107.730, Financings which Constitute Conflicts of Interest of the Small Business Administration (``SBA'') Rules and Regulations (13 CFR 107.730). C3 Capital Partners III, L.P., proposes to provide debt financing issued by Green Compass Environmental Solutions, LLC, 2775 N. Ventura Road, Suite 209, Oxnard, CA 93036. The financing is brought within the purview of Sec. 107.730(a)(1) of the Regulations because C3 Capital Partners II, L.P. an Associate of C3 Capital Partners III, L.P., owns more than ten percent of Green Compass Environmental Solutions, LLC; therefore Green Compass Environmental Solutions, LLC is considered an Associate of C3 Capital Partners II, L.P., as defined in Sec. 105.50 of the regulations. In addition, C3 Capital Partners III, L.P. and C3 Capital Partners II, L.P. are Associates as defined under 13 CFR 107.50. Notice is hereby given that any interested person may submit written comments on this transaction within fifteen days of the date of this publication to the Associate Administrator, Office of Investment and [[Page 35577]] Innovation, U.S. Small Business Administration, 409 Third Street SW., Washington, DC 20416. Dated: July 19, 2017. A. Joseph Shepard, Associate Administrator for Office of Investment and Innovation. [FR Doc. 2017-16008 Filed 7-28-17; 8:45 am] BILLING CODE P
![35576 Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices
states the value of the Restricted Stock from purchasing any securities of which represents that all purchases may be
will generally be taxable to the recipient it is the issuer except in the open made only as permitted by the
as ordinary income in the years in market, pursuant to tender offers or Amended Plan and the Amended 2009
which the restrictions on the shares under such other circumstances as the Plan, which were approved by the
lapse. Such value will be the fair market Commission may permit to ensure that Board prior to the application for relief.
value of the shares on the dates the the purchase is made on a basis that The Company argues that granting the
restrictions lapse. The Company states does not unfairly discriminate against requested relief would be consistent
that its obligations to make cash any holders of the class or classes of with policies underlying the provisions
payments pursuant to a Restricted Stock securities to be purchased. The of the Act permitting the use of equity
award or deliver the shares is subject to Company states that the withholding or compensationas well as prior exemptive
the Participant’s satisfaction of all purchase of shares of Common Stock in relief granted by the Commission for
applicable federal, state and local payment of applicable withholding tax relief under section 23(c) of the Act.
income and employment tax obligations or of Common Stock in For the Commission, by the Division of
withholding obligations. payment for the exercise price of a stock Investment Management, pursuant to
3. As discussed more fully in the option might be deemed to be purchases delegated authority.
application, upon the exercise of an by the Company of its own securities Eduardo A. Aleman,
option, the amount by which the fair within the meaning of section 23(c) and
Assistant Secretary.
market value of the shares of the therefore prohibited by the Act.
Company’s Common Stock received, 2. Section 23(c)(3) provides that the [FR Doc. 2017–16013 Filed 7–28–17; 8:45 am]
determined as of the date of exercise, Commission may issue an order that BILLING CODE 8011–01–P
exceeds the exercise price will be would permit a BDC to purchase its
treated as ordinary income to the shares in circumstances in which the
recipient of the option in the year of purchase is made in a manner or on a SMALL BUSINESS ADMINISTRATION
exercise. The Company states that in basis that does not unfairly discriminate
accordance with applicable regulations against any holders of the class or C3 Capital Partners III, L.P.; License
of the IRS, the Company requires the classes of securities to be purchased. No. 07/07–0118; Notice Seeking
optionee to pay to it an amount The Company states that it believes that Exemption Under Section 312 of the
sufficient to satisfy taxes required to be the requested relief meets the standards Small Business Investment Act,
withheld in respect of such of section 23(c)(3). Conflicts of Interest
compensation income at the time of the 3. The Company states that these
purchases will be made on a basis Notice is hereby given that C3 Capital
exercise of the option.
4. The Amended Plan and the which does not unfairly discriminate Partners III, L.P., 1511 Baltimore, Suite
Amended 2009 Plan were approved by against the stockholders of the Company 500, Kansas City, KS 64108, a Federal
the Company’s board of directors because all purchases of Common Stock Licensee under the Small Business
(‘‘Board’’), including the required will be at the closing sales price of the Investment Act of 1958, as amended
majority of the Company’s directors Common Stock on the NASDAQ Global (‘‘the Act’’), in connection with the
with the meaning of section 57(o) of the Select Market (or any primary exchange financing of a small concern, has sought
Act. The Company states that the on which its shares of Common Stock an exemption under Section 312 of the
Compensation Committee of the Board, may be traded in the future) on the Act and Section 107.730, Financings
in its discretion, may permit a relevant date (i.e., the public market which Constitute Conflicts of Interest of
Participant to irrevocably elect to have price on the date of vesting of the the Small Business Administration
the Company withhold Common Shares, Restricted Shares and the date of grant (‘‘SBA’’) Rules and Regulations (13 CFR
or to deliver to the Company Common of options). The Company further states 107.730). C3 Capital Partners III, L.P.,
Shares that the Participant already that no transactions will be conducted proposes to provide debt financing
owns, having a value equal to the pursuant to the requested order on days issued by Green Compass
amount required to be withheld to where there are no reported market Environmental Solutions, LLC, 2775 N.
satisfy the Participant’s tax withholding transactions involving the Common Ventura Road, Suite 209, Oxnard, CA
obligations related to the vesting of Stock. The Company submits that 93036.
Restricted Stock under the Amended because all transactions would take The financing is brought within the
Plan, or the exercise of options to place at the public market price for the purview of § 107.730(a)(1) of the
acquire Common Stock granted Company’s Common Stock, the Regulations because C3 Capital Partners
pursuant to the Amended 2009 Plan. transactions would not be significantly II, L.P. an Associate of C3 Capital
The Company states that the Amended different than could be achieved by any Partners III, L.P., owns more than ten
2009 Plan further provides the shareholder on the Nasdaq Global Select percent of Green Compass
Compensation Committee of the Board Market. Environmental Solutions, LLC; therefore
with discretion to permit the Company’s 4. The Company submits that the Green Compass Environmental
employees to pay the exercise price of proposed purchases do not raise Solutions, LLC is considered an
options to purchase shares of Common concerns about preferential treatment of Associate of C3 Capital Partners II, L.P.,
Stock with shares of Common Stock the Company’s insiders because the as defined in Sec. 105.50 of the
Amended Plan and the Amended 2009 regulations. In addition, C3 Capital
already held by them or pursuant to net
Plan are bona fide compensation plans Partners III, L.P. and C3 Capital Partners
share settlement.
of the type that is common among
sradovich on DSKBCFCHB2PROD with NOTICES
II, L.P. are Associates as defined under
Applicant’s Legal Analysis corporations generally. Further, the 13 CFR 107.50.
1. Section 23(c) of the Act, which is Company argues that the vesting Notice is hereby given that any
made applicable to BDCs by section 63 schedule is determined at the time of interested person may submit written
of the Act, generally prohibits a BDC the initial grant of the Restricted Stock comments on this transaction within
and the option exercise price is fifteen days of the date of this
hypothecated, margined, or otherwise encumbered determined at the time of the initial publication to the Associate
by a Participant. grant of the options. The Company Administrator, Office of Investment and
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![Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices 35577
Innovation, U.S. Small Business regulatory enforcement issues affecting Management Specialist, by August 21,
Administration, 409 Third Street SW., small businesses. 2017, in writing at the Office of the
Washington, DC 20416. For more information on the Office of National Ombudsman, 409 3rd Street
Dated: July 19, 2017. the National Ombudsman, see our Web SW., Suite 5116, Washington, DC 20416,
site at www.sba.gov/ombudsman. by phone (202) 205–2417, by fax (202)
A. Joseph Shepard,
Associate Administrator for Office of Dated: July 21, 2017. 481–5719 or email ombudsman@
Investment and Innovation. Richard W. Kingan, sba.gov. Additionally, if you need
[FR Doc. 2017–16008 Filed 7–28–17; 8:45 am] SBA Committee Management Officer (Acting). accommodations because of a disability,
BILLING CODE P [FR Doc. 2017–16003 Filed 7–28–17; 8:45 am] translation services, or require
BILLING CODE P additional information, please contact
Elahe Zahirieh as well.
SMALL BUSINESS ADMINISTRATION
SUPPLEMENTARY INFORMATION: Pursuant
SMALL BUSINESS ADMINISTRATION
National Regulatory Fairness Hearing to the Small Business Regulatory
Region III Regulatory Fairness Board Military Reservist Economic Injury Enforcement Fairness Act (Pub. L. 104–
Disaster Loans Interest Rate for Fourth 121), Sec. 222, SBA announces the
AGENCY: U.S. Small Business meeting of the Regional Small Business
Quarter FY 2017
Administration (SBA). Regulatory Fairness Boards (Regional
ACTION: Notice of open Hearing of the The Small Business Administration Regulatory Fairness Boards). The
Regional Small Business Regulatory publishes an interest rate for Military Regional Regulatory Fairness Boards are
Fairness Board. Reservist Economic Injury Disaster tasked to advise the National
Loans (13 CFR 123.512) on a quarterly Ombudsman on matters of concern to
SUMMARY: The SBA Office of the basis. The rate will be 3.305 for loans
National Ombudsman is issuing this small businesses relating to enforcement
approved on or after July 14, 2017.
notice to announce the location, date, activities of Federal agencies and to
and time of the National Regulatory James E. Rivera, report on substantiated instances of
Fairness Hearing. This hearing is open Associate Administrator for Disaster excessive Federal enforcement actions
to the public. Assistance. against small business concerns,
DATES: The hearing will be held on [FR Doc. 2017–15988 Filed 7–28–17; 8:45 am] including any findings or
Monday, August 28, 2017, from 1:30 BILLING CODE P recommendations of the Regional
p.m. to 4:30 p.m. (EDT). Regulatory Fairness Board regarding
ADDRESSES: The meeting will be held at agency enforcement practice or policy.
SMALL BUSINESS ADMINISTRATION
Patriots Plaza One, 395 E. Street SW., in The purpose of the meeting is to
the Hearing Room, Washington, DC Annual Meeting of the Regional Small discuss the following topics related to
20201. Persons attending the hearing Business Regulatory Fairness Boards the Regional Regulatory Fairness
must enter the building with a valid Office of the National Ombudsman Boards:
photo identification.
AGENCY: U.S. Small Business —Introduction of the Regional
FOR FURTHER INFORMATION CONTACT: The
hearing is open to the public; however, Administration (SBA). Regulatory Fairness Board members
advance notice of attendance is ACTION: Notice of open meeting of the and the staff of the Office of the
requested. Anyone wishing to attend Regional Small Business Regulatory National Ombudsman
and/or make a presentation to the Fairness Boards. —Panel Discussion with Federal Agency
Region III Regulatory Fairness Board Representatives
SUMMARY: The SBA, Office of the
must contact Ms. Elahe Zahirieh, Case —Facilitated discussion of ongoing
National Ombudsman is issuing this
Management Specialist, by August 15, small business regulatory issues
notice to announce the location, date,
2017 in writing, by fax, or email at
time and agenda for the annual board —FY2016 Outcomes and comments
ombudsman-events@sba.gov in order to
meeting of the ten Regional Small regarding the Annual Report to
be placed on the agenda. For further
Business Regulatory Fairness Boards. Congress
information, please contact Ms.
The meeting is open to the public.
Zahirieh, Office of the National —Office of Advocacy regulatory review
Ombudsman, 409 3rd Street SW., Suite DATES: The meeting will be held on:
Tuesday, August 29, 2017, from 8:30 —SBA update and future outreach
5116, Washington, DC 20416 by phone
a.m. to 5:00 p.m. EDT and Wednesday, planning
(202) 205–2417 and fax (202) 481–5719.
Additionally, if you need August 30, 2017, from 8:30 a.m. to 12:00
For more information on the Office of
accommodations because of a disability, p.m. EDT.
the National Ombudsman, please visit
translation services, or require ADDRESSES: The meeting will be held at
our Web site at www.sba.gov/
additional information, please contact Patriots Plaza One, 395 E. Street SW.,
ombudsman.
Ms. Zahirieh. Hearing Room, lobby level, Washington,
DC 20201. **A valid photo Dated: July 21, 2017.
SUPPLEMENTARY INFORMATION: Pursuant
to the Small Business Regulatory identification is required to enter the Richard W. Kingan,
Enforcement Fairness Act (Pub. L. 104– building. Acting SBA Committee Management Officer.
sradovich on DSKBCFCHB2PROD with NOTICES
121), Sec. 222, SBA announces the FOR FURTHER INFORMATION CONTACT: The [FR Doc. 2017–16004 Filed 7–28–17; 8:45 am]
hearing for Small Business Owners, meeting is open to the public; however BILLING CODE P
Business Organizations, Trade advance notice of attendance is
Associations, Chambers of Commerce requested. Anyone wishing to attend
and related organizations serving small and/or make a presentation to the
business concerns to report experiences Regional Regulatory Fairness Boards
regarding unfair or excessive Federal must contact Elahe Zahirieh, Case
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Document Created: 2017-07-29 00:21:01
Document Modified: 2017-07-29 00:21:01
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 82 FR 35576 |
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