sc13dza
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
§ 240.13D-1(A) AND AMENDMENTS THERETO FILED
PURSUANT TO § 240.13D-2(A))
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Capital Product Partners, L.P.
Common units, representing limited partner interests
(Title of Class of Securities)
Ioannis E. Lazaridis
Capital Maritime & Trading Corp.
3 Iassonos Street
Piraeus, 18537, Greece
Tel: +30 210 458-4950
with a copy to:
Jay Clayton, Esq.
Sullivan & Cromwell LLP
125 Broad Street
New York, NY 10004
Tel: (212) 558-4000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
September 30, 2011
(Date of Event Which Requires Filing of This Statement)
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 §§
240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o
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NAME OF REPORTING PERSON
Capital Maritime & Trading Corp. |
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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SEC USE ONLY |
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SOURCE OF FUNDS: |
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |
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CITIZENSHIP OR PLACE OF ORGANIZATION: |
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The Republic of The Marshall Islands
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7 |
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SOLE VOTING POWER: |
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NUMBER OF |
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None |
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SHARES |
8 |
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SHARED VOTING POWER: |
BENEFICIALLY |
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OWNED BY |
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17,763,305 Common Units (1) |
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EACH |
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SOLE DISPOSITIVE POWER: |
REPORTING |
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PERSON |
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None |
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WITH |
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SHARED DISPOSITIVE POWER: |
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17,763,305 Common Units (1) |
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AGGREGATE AMOUNT OWNED BY EACH BENEFICIALLY REPORTING PERSON |
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17,763,305 Common Units (1) |
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |
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13 |
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
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25.6%(2) |
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TYPE OF REPORTING PERSON |
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CO |
(1) Upon the closing of Capital Product Partners L.P.s (the Issuer) initial public
offering on April 3, 2007 (the Offering) of common units (Common Units) representing limited
partner interests in the Issuer, Capital Maritime & Trading Corp. (Capital Maritime) beneficially
owned 8,805,522 subordinated units of the Issuer. In addition, Capital Maritime owns 100% of
Capital GP L.L.C., the general partner of the Issuer (the General Partner). The General Partner
has a 2% general partner interest in the Issuer and incentive distribution rights, which represent
the right to receive an increasing percentage of quarterly distributions in excess of specified
amounts. Capital Maritime is the indirect beneficial owner of the General Partners interest in the
Issuer and its incentive distribution rights. The Marinakis family, including Evangelos M.
Marinakis, through its beneficial ownership of Capital Maritime, may be deemed to beneficially own
the Common Units held by Capital Maritime.
As described in the Issuers Amendments to Schedule 13D filed on April 30, 2008, February 26, 2009
and May 9, 2011, Capital Maritime increased these holdings such that it owned an aggregate of
18,262,651 Common Units as of September 29, 2011.
In connection with the acquisition of Crude Carriers Corp. (the Merger), pursuant to the Merger
Agreement (as defined below), the Issuer issued an aggregate of 24,967,240 Common Units to the
shareholders of Crude Carriers Corp. as merger consideration. After the consummation of the
Merger, in order for the General Partner to maintain its 2% general partner interest in the Issuer,
Capital Maritime made a capital contribution of 499,346 Common Units to the General Partner, which
the General Partner then contributed to the Issuer in exchange for 499,346 general partner units
(the Common Units contributed by the General Partner to the Issuer having subsequently been
canceled).
(2) The percentages reported in this Schedule 13D are calculated using a denominator of
69,372,077, the sum of 44,904,183, or the number of Common Units reported outstanding prior to the
consummation of the Merger on the Issuers Registration Statement on Form F-4 filed on June 9,
2011, as amended, plus 24,967,240 Common Units issued in connection with the Merger, minus 499,346
Common Units contributed by Capital Maritime to the Issuer in order for the General Partner to
maintain its 2% general partner interest in the Issuer.
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NAME OF REPORTING PERSON
Crude Carriers Investments Corp. |
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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SEC USE ONLY |
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SOURCE OF FUNDS: |
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |
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CITIZENSHIP OR PLACE OF ORGANIZATION: |
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The Republic of The Marshall Islands
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SOLE VOTING POWER: |
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NUMBER OF |
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None |
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SHARES |
8 |
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SHARED VOTING POWER: |
BENEFICIALLY |
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OWNED BY |
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3,284,210 Common Units (1) |
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EACH |
9 |
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SOLE DISPOSITIVE POWER: |
REPORTING |
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PERSON |
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None |
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WITH |
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SHARED DISPOSITIVE POWER: |
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3,284,210 Common Units (1) |
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AGGREGATE AMOUNT OWNED BY EACH
BENEFICIALLY REPORTING PERSON |
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3,284,210 Common Units (1) |
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
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4.7%(2) |
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TYPE OF REPORTING PERSON |
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CO |
(1) Represents the number of Common Units Crude Carriers Investments Corp. (CCIC) received in
exchange for 2,105,263 shares of Class B stock of Crude Carriers Corp. upon consummation of the
Merger at the exchange ratio of 1.56.
The Marinakis family, including Evangelos M. Marinakis, through its beneficial ownership of CCIC,
may be deemed to beneficially own the Common Units held by CCIC.
(2) The percentages reported in this Schedule 13D are calculated using a denominator of
69,372,077.
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NAME OF REPORTING PERSON
Evangelos M. Marinakis |
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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SEC USE ONLY |
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SOURCE OF FUNDS: |
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |
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CITIZENSHIP OR PLACE OF ORGANIZATION: |
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The Republic of The Marshall Islands
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SOLE VOTING POWER: |
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NUMBER OF |
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226,200 Common Units (1) |
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SHARES |
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SHARED VOTING POWER: |
BENEFICIALLY |
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OWNED BY |
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21,047,515 Common Units (2) |
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SOLE DISPOSITIVE POWER: |
REPORTING |
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PERSON |
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226,200 Common Units (1) |
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WITH |
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SHARED DISPOSITIVE POWER: |
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21,047,515 Common Units (2) |
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AGGREGATE AMOUNT OWNED BY EACH BENEFICIALLY REPORTING PERSON |
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21,273,715 Common Units (1) (2) |
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
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30.7%(3) |
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TYPE OF REPORTING PERSON |
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IN |
(1) Represents the number of Common Units Evangelos M. Marinakis received in exchange for
145,000 shares of common stock of Crude Carriers Corp. upon consummation of the Merger at the
exchange ratio of 1.56.
(2) Represents the number of Common Units held by CCIC and Capital Maritime that may be deemed to
be beneficially owned by the Marinakis family, including Evangelos M. Marinakis. The Marinakis
family may be deemed to beneficially own CCIC and Capital Maritime.
(3) The percentages reported in this Schedule 13D are calculated using a denominator of
69,372,077.
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This Amendment No. 4 (this Amendment No. 4) amends and supplements the disclosures
in Items 2 through 7 of the Schedule 13D (the Schedule 13D) filed with the Securities and
Exchange Commission on April 4, 2008, as amended by the amendments to such Schedule 13D filed
on May 9, 2011, February 26, 2009 and April 30, 2008, relating to the Common units, representing
limited partner interests (the Common Units), of Capital Product Partners L.P., a limited
partnership organized under the laws of the Republic of the Marshall Islands (the
Issuer). Unless specifically amended hereby, the disclosures set forth in the Schedule
13D remain unchanged.
Capitalized terms not otherwise defined in this Amendment No. 4 have the meanings given to
them in the Merger Agreement (as defined below).
On September 30, 2011, the Issuer completed its previously announced acquisition of Crude
Carriers Corp., a Republic of Marshall Islands corporation (CRU), pursuant to that
certain Agreement and Plan of Merger dated as of May 5, 2011, by and among CRU and the Issuer,
Capital GP L.L.C., a Marshall Islands limited liability company (the General Partner) and
Poseidon Project Corp., a Republic of the Marshall Islands corporation and a wholly-owned
subsidiary of the Issuer (MergerCo) (the Merger Agreement), under which
MergerCo merged with and into CRU (the Merger), such that following the Merger, the
Issuer became the sole stockholder of CRU.
Item 2. Identity and Background.
Item 2 is hereby deleted and replaced in its entirety by the following:
This statement is being jointly filed by each of the following persons pursuant to Rule
13d-1(k) promulgated by the Securities and Exchange Commission (the Commission)
pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the Exchange
Act):
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Capital Maritime & Trading Corp., a Republic of Marshall Islands corporation
(Capital Maritime); |
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Crude Carriers Investments Corp., a Republic of Marshall Islands corporation
(CCIC); and |
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Evangelos M. Marinakis, a Greek individual, |
all of whom are collectively referred to as the Reporting Persons. The Reporting Persons
have entered into a Joint Filing Agreement, dated the date hereof, a copy of which is filed with
this Schedule 13D as Exhibit D (which is hereby incorporated by reference), pursuant to which the
Reporting Persons have agreed to file this statement jointly in accordance with the provisions of
Rule 13d-1(k)(1) under the Exchange Act. The Reporting Persons expressly disclaim that they have
agreed to act as a group other than as described in this statement.
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Pursuant to Rule 13d-4 of the Exchange Act, the Reporting Persons expressly declare that
the filing of this statement shall not be construed as an admission that any such person is, for
the purposes of Section 13(d) and/or Section 13(g) of the Exchange Act or otherwise, the beneficial
owner of any securities covered by this statement held by any other person.
Certain information required by this Item 2 concerning the executive officers and directors of
Capital Maritime and CCIC is set forth on Schedule A attached hereto, which is incorporated herein
by reference.
The address of the principal business office of each of Capital Maritime, CCIC and Evangelos
M. Marinakis is 3 Iassonos Street, Piraeus, 18537, Greece.
Each of Capital Maritime and CCIC is principally in the business of international crude oil
and refined petroleum product transportation services.
The present principal occupation of Evangelos M. Marinakis is Chairman of the Board of the
Issuer.
None of the Reporting Persons nor, to the best of their knowledge, the Reporting Persons
executive officers, directors or managing directors (as applicable) has, during the last five
years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
None of the Reporting Persons nor, to the best of their knowledge, the Reporting Persons
executive officers, directors or managing directors (as applicable) has, during the last five
years, been party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is 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.
Information with respect to each Reporting Person is given solely by such Reporting Person and
no Reporting Person assumes responsibility for the accuracy or completeness of the information
furnished by another Reporting Person. The Reporting Persons expressly disclaim that they have
agreed to act as a group other than as described herein.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and supplemented by adding the following:
On September 30, 2011, pursuant to the Merger Agreement, MergerCo was merged with and into
CRU, such that following the Merger, the Issuer became the sole
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stockholder of CRU, and each issued and outstanding share of each of CRUs common stock, par
value $0.0001 per share (CRU Common Stock), and Class B stock, par value $0.0001 per share (CRU
Class B Stock), was converted into the right to receive 1.56 Common Units. Upon the consummation
of the Merger, the Issuer issued (i) 3,284,210 Common Units to CCIC in exchange for 2,105,263
shares of CRU Class B Stock held by CCIC and (ii) 226,200 Common Units to Evangelos M. Marinakis in
exchange for 145,000 shares of CRU Common Stock held by Evangelos M. Marinakis.
After the consummation of the Merger, in order for the General Partner to maintain its 2%
general partner interest in the Issuer, Capital Maritime made a capital contribution of 499,346
Common Units to the General Partner, which the General Partner then contributed to the Issuer in
exchange for 499,346 General Partner Units. The Common Units contributed by the General Partner to
the Issuer have subsequently been canceled.
The information set forth in Item 4 of this Schedule 13D is hereby incorporated herein by
reference.
Item 4. Purpose of Transaction.
Item 4 is hereby amended and supplemented by the following:
CCIC and Evangelos M. Marinakis acquired the Common Units as part of the transaction described
in Item 3 above.
The Reporting Persons expect to engage in discussions with management, the
board and other stockholders of the Issuer and other relevant parties concerning the business, assets,
capitalization, financial condition, operations, governance, management, strategy and future plans of the
Issuer, which discussions may include proposing or considering one or more of the actions described in
subsections (a) through (j) of Item 4 of Schedule 13D.
The Reporting Persons intend to review their investments in the Issuer on a
continuing basis. Depending on various factors (including, without limitation, the Issuers financial position
and strategic direction, actions taken by the board, price levels of the Common Units, other investment
opportunities available to the Reporting Persons, concentration of positions in the investments of the
Reporting Persons, market conditions and general economic and industry conditions), the Reporting
Persons may take such actions with respect to their investments in the Issuer as they deem appropriate,
including, without limitation, purchasing additional Common Units or other financial instruments related
to the Issuer or selling some or all of their beneficial or economic holdings, engaging in hedging or
similar transactions with respect to the securities relating to the Issuer and/or otherwise changing
their intention with respect to any and all matters referred to in Item 4 of Schedule 13D.
The information set forth in Item 3 of this Schedule 13D is hereby incorporated herein by
reference.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby deleted and replaced in its entirety by the following:
(a) Capital Maritime beneficially owns 17,763,305 Common Units, representing 25.6% of the
outstanding Common Units of the Issuer. In addition, Capital Maritime beneficially owns 1,415,757
General Partner Units through its ownership of the General Partner. Thus, as of October 5, 2011,
Capital Maritime beneficially owns 27.6%
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of the outstanding units of the Issuer, including a 2% interest through its ownership of the
General Partner.
CCIC beneficially owns 3,284,210 Common Units, representing 4.7% of the outstanding Common
Units of the Issuer.
The Marinakis family, including Evangelos M. Marinakis, beneficially owns, in the aggregate,
21,273,715 Common Units through its beneficial ownership of CCIC and Capital Maritime,
representing, in the aggregate, 30.7% of the outstanding Common Units of the Issuer. In addition,
the Marinakis family, including Evangelos M. Marinakis, may be deemed to beneficially own 1,415,757
General Partner Units through its beneficial ownership of Capital Maritime, which owns the General
Partner. Thus, as of October 5, 2011, Evangelos M. Marinakis may be deemed to beneficially own
32.7% of the outstanding units of the Issuer, including a 2% general partner interest.
(b)
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Shares |
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% of Shares |
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Shared |
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Sole |
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Shared |
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Beneficially |
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Beneficially |
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Sole Voting |
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Voting |
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Dispositive |
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Dispositive |
Reporting Person |
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Owned |
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Owned |
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Power |
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Power |
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Power |
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Power |
Capital Maritime (1) |
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17,763,305 |
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25.6 |
% |
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17,763,305 |
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0 |
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17,763,305 |
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CCIC (2) |
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3,284,210 |
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4.7 |
% |
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0 |
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3,284,210 |
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0 |
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3,284,210 |
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Evangelos M.
Marinakis (1)(2) |
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21,273,715 |
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30.7 |
% |
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226,200 |
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21,047,515 |
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226,200 |
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21,047,515 |
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(1) |
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Capital Maritime shares voting and dispositive power over the 17,763,305 Common
Units it owns with the Marinakis family, including Evangelos M. Marinakis. |
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CCIC shares voting and dispositive power over the 3,284,210 Common Units it owns with the
Marinakis family, including Evangelos M. Marinakis. |
(c) Except as described herein, the Reporting Persons have not engaged in any transactions in
the Issuers Common Units effected during the past sixty days.
(d) Except as described in Item 6 below, no other person is known by any Reporting Person to
have the right to receive or the power to direct the receipt of distributions from, or the proceeds
from the sale of, Common Units beneficially owned by such Reporting Person.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities
of the Issuer.
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Item 6 is hereby amended and supplemented by adding the following after the last paragraph:
In connection with the Merger, the Issuer amended the Second Amended and Restated Agreement of
Limited Partnership of Capital Product Partners L.P. dated February 22, 2010 and amended and
restated the Omnibus Agreement among Capital Maritime & Trading Corp., Capital GP L.L.C., Capital
Product Operating L.L.C. and Capital Product Partners L.P. dated April 3, 2007, as reported on the
Issuers Report of Foreign Private Issuer on Form 6-K filed with the Commission on September 30,
2011 (No. 001-33373).
Except for the agreements described above or in response to Items 3 and 4 of this Schedule
13D, which are hereby incorporated herein by reference, to the best knowledge of each Reporting
Person, there are no contracts, arrangements, understandings or relationships (legal or otherwise)
between such Reporting Person, and any other person, with respect to any securities of the Issuer,
including, but not limited to, transfer or voting of any of the securities, finders fees, joint
ventures, loan or option agreements, puts or calls, guarantees of profits, divisions of profits or
loss, or the giving or withholding of proxies.
Item 7. Material to be filed as Exhibits.
Item 7 is hereby amended and supplemented by adding the following:
D. Joint Filing Agreement, dated October 5, 2011, by and among Capital Maritime, CCIC and Evangelos
M. Marinakis.
E. Second Amended and Restated Agreement of Limited Partnership of Capital Product Partners L.P.
dated February 22, 2010 (filed as Exhibit I to the Issuers Report of Foreign Private Issuer on
Form 6-K filed with the Commission on February 24, 2010 (No. 001-33373) and incorporated by
reference herein in its entirety).
F. Amendment, dated September 30, 2011, to the Second Amended and Restated Agreement of Limited
Partnership of Capital Product Partners L.P. dated February 22, 2010 (filed as Exhibit I to the
Issuers Report of Foreign Private Issuer on Form 6-K filed with the Commission on September 30,
2011 (No. 001-33373) and incorporated by reference herein in its entirety).
G. First Amended and Restated Omnibus Agreement among Capital Maritime & Trading Corp., Capital GP
L.L.C., Capital Product Operating L.L.C. and Capital Product Partners L.P. dated September 30, 2011
(filed as Exhibit II to the Issuers Report of Foreign Private Issuer on Form 6-K filed with the
Commission on September 30, 2011 (No. 001-33373) and incorporated by reference herein in its
entirety).
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SIGNATURES
After reasonable inquiry and to the best of each of the undersigneds knowledge and belief,
each of the undersigned certify that the information set forth in this statement is true, complete
and correct.
Dated: October 5, 2011
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CAPITAL MARITIME & TRADING CORP.
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/s/ Ioannis M. Lazaridis
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Name: |
Ioannis M. Lazaridis |
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Title: |
Chief Financial Officer |
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CRUDE CARRIERS INVESTMENTS CORP.
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/s/ Evangelos G. Bairactaris
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Name: |
Evangelos G. Bairactaris |
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Director |
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EVANGELOS M. MARINAKIS
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/s/ Evangelos M. Marinakis
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CUSIP No. |
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Y11082107 |
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Page |
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11 |
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of |
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11 |
SCHEDULE A
Directors and Executive Officers of Capital Maritime:
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Principal Occupation or Employment |
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Name and Position |
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and Principal Business Address |
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Citizenship |
Evangelos M. Marinakis
Director, President
and Chief Executive
Officer
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Capital Maritime & Trading Corp.
3 Iassonos Street
Piraeus, 18537, Greece
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Greece |
Ioannis E. Lazaridis
Director and Chief
Financial Officer
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Capital Maritime & Trading Corp.
3 Iassonos Street
Piraeus, 18537, Greece
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Greece |
John C. Palios
Director
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Gr. J. Timagenis Law Office
57 Notara Street (8th floor)
Piraeus, 18535, Greece
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Greece |
John Xylas
Director
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Ariston Navigation Corp.
57 Akti Miaouli
Piraeus, 18536, Greece
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Greece |
Directors and Executive Officers of CCIC:
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Principal Occupation or Employment |
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Name and Position |
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and Principal Business Address |
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Citizenship |
Evangelos G. Bairactaris
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Law Offices
G. E. Bairactaris & Partners
130, Kolokotroni Str., 185 36 - Piraeus, Greece
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Greece |
EXHIBIT D
EXECUTION COPY
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each
of the undersigned hereby agrees to the joint filing on behalf of each of them of a statement on
Schedule 13D (including amendments thereto) with respect to the common units of Capital Product
Partners L.P., and that this Agreement be included as an Exhibit to such joint filing.
Each of the undersigned acknowledges that each shall be responsible for the timely filing of
any statement (including amendments) on Schedule 13D, and for the completeness and accuracy of the
information concerning him, her, or it contained therein, but shall not be responsible for the
completeness and accuracy of the information concerning the other persons making such filings,
except to the extent that he, she, or it knows or has reason to believe that such information is
inaccurate.
This Joint Filing Agreement may be executed in any number of counterparts, all of which taken
together shall constitute one and the same instrument.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of October 5, 2011.
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CAPITAL MARITIME &
TRADING CORP.
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/s/ Ioannis M. Lazaridis
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Name: |
Ioannis M. Lazaridis |
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Title: |
Chief Financial Officer |
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CRUDE CARRIERS INVESTMENTS CORP.
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/s/ Evangelos G. Bairactaris
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Name: |
Evangelos G. Bairactaris |
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Title: |
Director |
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EVANGELOS M. MARINAKIS
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/s/ Evangelos M. Marinakis
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[Signature Page to Joint Filing Agreement]