SC 13D/A 1 d109642dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

 

 

Civeo Corporation

(Name of Issuer)

Common Shares

(Title of Class of Securities)

178787107

(CUSIP Number)

Torgerson Family Trust and 989677 Alberta Ltd.

9645 45 Avenue NW

Edmonton, Alberta, Canada T6E 5Z8

Attention: Lance Torgerson

- with copies to -

Dentons Canada LLP

2900 Manulife Place

10180 – 101 St. NW

Edmonton, AB T5J 3V5

Attention: Leanne Krawchuk

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

March 08, 2021

(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 that 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.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

Torgerson Family Trust

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of British Columbia, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

1,905,035

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

1,905,035

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,905,035

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

13.33%

14  

TYPE OF REPORTING PERSON

 

OO

 

2

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

989677 Alberta Ltd.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

490,487

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

490,487

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

490,487

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.4%

14  

TYPE OF REPORTING PERSON

 

CO

 

3

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

Svenco Investments Ltd.

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

490,487 (1)

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

490,487 (1)

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

490,487 (1)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.4%

14  

TYPE OF REPORTING PERSON

 

CO

 

(1) 

Svenco Investments Ltd. may be deemed to be the beneficial owner of 5,948,213 shares held indirectly by Svenco Investments Ltd. as the direct owner of all of the voting shares of 989677 Alberta Ltd.

 

4

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

Lance Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

2,395,522 (2)

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

2,395,522 (2)

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,395,522 (2)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

16.77%

14  

TYPE OF REPORTING PERSON

 

IN

 

(2) 

Lance Torgerson may be deemed to be the beneficial owner of the shares held directly by Torgerson Family Trust, of which Lance Torgerson is one of three co-trustees and a beneficiary, and the shares held directly by 989677 Alberta Ltd., of which Lance Torgerson is the sole director and, as the owner of 100% of the voting shares of Svenco Investments Ltd., is the indirect beneficial owner of all of the voting shares of 989677 Alberta Ltd.

 

5

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

Tammy Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

2,395,522 (3)

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

2,395,522 (3)

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,395,522 (3)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

16.77%

14  

TYPE OF REPORTING PERSON

 

IN

 

(3) 

Mrs. Torgerson may be deemed to be the beneficial owner of the shares held by her spouse Lance Torgerson.

 

6

CUSIP No. 178787107      

 

  1   

NAME OF REPORTING PERSON

 

Richard Torgerson

  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3  

SEC USE ONLY

 

  4  

SOURCE OF FUNDS (See Instructions)

 

OO

  5  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

☐

  6  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Province of Alberta, Canada

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

 

      7    

SOLE VOTING POWER

 

-0-

     8   

SHARED VOTING POWER

 

1,905,035 (4)

     9   

SOLE DISPOSITIVE POWER

 

-0-

   10   

SHARED DISPOSITIVE POWER

 

1,905,035 (4)

11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,905,035 (4)

12  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

☐

13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

13.33%

14  

TYPE OF REPORTING PERSON

 

IN

 

(4) 

Richard Torgerson may be deemed to be the beneficial owner of the shares held directly by Torgerson Family Trust, of which Richard Torgerson is one of three co-trustees.

 

7

AMENDMENT NO. 2 TO SCHEDULE 13D

This Amendment No. 2 to Schedule 13D/A (the “Amendment”) relates to Common Shares (“Common Shares”) of Civeo Corporation, a British Columbia corporation (the “Issuer” or the “Company”). This Amendment is being filed to amend the Schedule 13D/A that was filed on March 8, 2019 (the “Schedule 13D”). This Amendment is being filed to update Item 5 to the Schedule 13D. Other than information set forth on the cover pages and Item 5 below, no other information in the Schedule 13D is being amended. Unless otherwise indicated in this Amendment, all capitalized terms have the meanings ascribed to them in the Schedule 13D.

Item 5. Interest in Securities of the Issuer

(a) and (b) The information on the cover pages are incorporated by reference to this Item 5(a) and 5(b).

The ownership percentage is calculated based upon 14,286,290 of the Issuer’s Common Shares outstanding as of February 22, 2021, as reported in the Issuer’s annual report for the period ending December 31, 2020 on the Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2021.

(c) The following table sets forth all transactions with respect to the Common Shares effected during the past sixty (60) days prior to the effective date of this Amendment No. 2 to Schedule 13D by the Reporting Persons. All transactions were made on the New York Stock Exchange.

 

Date of Transaction

    Transaction      Number of
securities sold
(Torgerson Family
Trust):		      Number of
securities sold
(989677 Alberta
Ltd.):		      Total shares sold      Volume
Weighted
Average
Price		  

Feb-05-2021

      Sale        4,777        163        4,940      $ 17.02  

Feb-08-2021

      Sale        4,840        165        5,005      $ 17.95  

Feb-09-2021

      Sale        4,875        167        5,042      $ 17.78  

Feb-10-2021

      Sale        5,019        171        5,190      $ 18.44  

Feb-11-2021

      Sale        5,151        176        5,327      $ 18.77  

Feb-12-2021

      Sale        5,408        185        5,593      $ 19.30  

Feb-16-2021

      Sale        5,949        203        6,152      $ 20.06  

Feb-17-2021

      Sale        6,164        211        6,375      $ 19.48  

Feb-18-2021

      Sale        6,388        218        6,606      $ 19.47  

Feb-19-2021

      Sale        6,682        228        6,910      $ 19.56  

Feb-22-2021

      Sale        6,901        236        7,137      $ 19.46  

Feb-23-2021

      Sale        7,121        243        7,364      $ 18.97  

Feb-24-2021

      Sale        7,375        252        7,627      $ 19.67  

Feb-25-2021

      Sale        7,998        273        8,271      $ 19.44  

Feb-26-2021

      Sale        8,140        278        8,418      $ 18.99  

March-01-2021

      Sale        8,677        296        8,973      $ 17.37  

March-02-2021

      Sale        9,750        333        10,083      $ 17.63  

March-03-2021

      Sale        9,710        332        10,042      $ 17.63  

March-04-2021

      Sale        10,048        343        10,391      $ 17.25  

March-05-2021

      Sale        10,318        352        10,670      $ 17.86  

March-08-2021

      Sale        10,867        371        11,238      $ 18.87  

(d) Not applicable.

(e) Not applicable.

 

8

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 10, 2021

 

Torgerson Family Trust
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   Trustee
989677 Alberta Ltd.
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   President
Svenco Investments Ltd.
By:  

/s/ Lance Torgerson

Name:   Lance Torgerson
Title:   President

/s/ Lance Torgerson

Lance Torgerson

/s/ Richard Torgerson

Richard Torgerson

/s/ Tammy Torgerson

Tammy Torgerson

 

9