UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934 (Amendment No. 2)

INTERNATIONAL MONEY EXPRESS, INC.

(Name of Issuer)

 

Common Stock, $0.0001 par value

(Title of Class of Securities)

 

46005L101

(CUSIP Number)

 

Jeffrey M. Rose, 420 Lexington Avenue, Suite 2300 New York, NY 10170, 212-986-1703

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

September 14, 2020

(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 240.13d-7(b) 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).

 

 

 

SCHEDULE 13D

 

CUSIP No.

46005L101

 

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Steamboat Capital Partners, LLC    45-5206506
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
	☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER
		2,270,560
	8	SHARED VOTING POWER
	9	SOLE DISPOSITIVE POWER
		2,396,676
	10	SHARED DISPOSITIVE POWER

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,396,676
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
	☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	6.3%
14	TYPE OF REPORTING PERSON (See Instructions)
	IA; OO

 

 

SCHEDULE 13D

 

CUSIP No.

46005L101

 

1	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Parsa Kiai
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
	☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER
		2,270,560
	8	SHARED VOTING POWER
	9	SOLE DISPOSITIVE POWER
		2,396,676
	10	SHARED DISPOSITIVE POWER

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,396,676
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
	☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	6.3%
14	TYPE OF REPORTING PERSON (See Instructions)
	HC; IN

 

 

The following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (“Amendment No. 2”). This Amendment No. 2 amends the Schedule 13D as specifically set forth herein.

 

Item 2.

Identity and Background

 

Item 2(a) is hereby amended and restated in its entirety to read as follows:

 

(a)

This Schedule 13D is being jointly filed by Steamboat Capital Partners, LLC (“IA”) and Parsa Kiai.

 

(b)

The address of the principal business office of each of the Reporting Persons is 420 Lexington Avenue, Suite 2300, New York, NY 10170.

 

(c)

IA provides investment advisory and management services and acts as portfolio manager for entities owning shares of the Issuer. The principal occupation of Mr. Kiai is serving as managing member of IA.

 

(f)

IA is organized under the laws of Delaware. Parsa Kiai is a citizen of the United States.

 

Item 3.

Source and Amount of Funds or Other Considerations

 

Item 3 of the Schedule 13D is hereby amended and restated in its entirety to read as follows:

 

The Shares as to which this report on Schedule 13D is being filed were acquired at an aggregate price (excluding commissions) of approximately $27.9 million and were purchased by clients of IA (including funds of which an affiliate is general partner) with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases.

 

Item 5.

Interest in Securities of the Issuer

 

Item 5 of the Schedule 13D is hereby amended and restated in its entirety to read as follows:

 

(a)

IA (as the portfolio manager for its clients, including funds of which an affiliate is general partner) and Mr. Kiai (as the managing member of IA), may be deemed to be the beneficial owner of the number and percentage of Shares set forth on the cover page of this Schedule 13D on which they are respectively named. The aggregate percentage of Shares reported owned by each person named herein is based upon 38,048,562 Shares outstanding, as of July 31, 2020 which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC August 6, 2020.

 

(b)

Each Reporting Person has the power to vote or direct the vote and dispose of or direct the disposition of the number and percentage of Shares set forth on the cover page of this Schedule 13D on which they are respectively named.

 

(c)

Transactions by the Reporting Persons in the last 60 days (as of 8:00 AM on September 23, 2020), are set forth on Schedule 5.

 

(d)

Clients of IA, including funds of which an affiliate is general partner, own the Shares which are the subject of this Schedule 13D and have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

 

(e)

Not applicable.

 

The filing of this Schedule 13D shall not be deemed an admission that any of the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that such Reporting Person does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

 

Item 7.

Material to Be Filed as Exhibits

 

Item 7 of the Schedule 13D is hereby amended and restated in its entirety to read as follows:

 

99.1

Joint Filing Agreement between the Reporting Persons dated September 23, 2020.

 

  

SIGNATURES

 

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: September 23, 2020

 

/s/ Parsa Kiai
Parsa Kiai

 

Steamboat Capital Partners LLC
By:	/s/ Parsa Kiai
	Parsa Kiai
	Managing Member

 

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative’s authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

 

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

 

 

Schedule 5

 

Transactions in the Shares of the Issuer

 

The following tables set forth all transactions in the Shares effected within the past 60 days by the Reporting Persons on behalf of clients of IA. All such transactions were effected in the open market through brokers and the price per share excludes commissions. Where a price range is provided in the column Price Range ($), the price reported in that row’s column Price Per Share ($) is a weighted average price. These Shares were purchased in multiple transactions at prices between the price ranges indicated in the column Price Range ($). The Reporting Persons will undertake to provide to the staff of the SEC, upon request, full information regarding the number of Shares sold at each separate price.

 

Trade Date		Share Purchased (Sold)				Price per Share ($)				Price Range ($)
7/28/2020			(4,207	)			13.4171			13.3-13.49
7/28/2020			9,317				13.4261			13.29-13.5
7/29/2020			(89,097	)			13.3001			13.25-13.56
8/4/2020			(1,457	)			14.224			14.07-14.36
8/4/2020			18,898				14.2636			14.07-14.44
8/4/2020			(25,000	)			14.1724			14-14.41
8/5/2020			(22,456	)			17.0023			17-17.06
8/5/2020			(8,316	)			17.0011			17-17.03
8/6/2020			(8,533	)			16.7027			16.52-16.93
8/10/2020			(27,191	)			17.859			17.75-18
8/12/2020			(63,191	)			17.0116			17-17.12
8/13/2020			(5,415	)			16.7122			16.61-16.84
8/14/2020			(1,100	)			17.13727			17.1-17.19
8/14/2020			(23,900	)			17.32322			17.44-18.2
8/19/2020			(45,026	)			17.6791			17.65-17.84
8/24/2020			(1,542	)			17.7599			17.75-17.82
8/25/2020			(21,052	)			17.8044			17.8-17.83
9/2/2020			10,213				17.3329			17.23-17.4
9/2/2020			(11,010	)			17.3219			17.23-17.38
9/9/2020			12,712				16.757			16.52-17
9/9/2020			(1,681	)			16.7378			16.55-16.99
9/14/2020			(10,100	)			18.0483			18-18.1
9/14/2020			(50,000	)			17.8371			17.505-18.1
9/15/2020			50,000				16.0978			15.72-16.15
9/15/2020			50,000				15.0758			14.8-15.5
9/15/2020			7,525				14.9799			14.91-15
9/15/2029			(9,021	)			15.0661			14.802-15.3723
9/15/2020			10,093				14.9619			14.88-15
9/15/2020			(14,493	)			15.0997			14.88-15.45
9/17/2020			50,000				15.1347			14.87-15.25
9/21/2020			50,000				14.9362			14.82-15
9/21/2020			5,026				14.7169			14.58-14.75
9/21/2020			7,850				14.58			14.53-14.69
9/22/2020			6,329				14.9996			14.98-15

  

 

Page 6

 

Exhibit 99.1

 

JOINT FILING AGREEMENT

 

 In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended the undersigned hereby agree that the statement on Schedule 13D filed herewith (and any amendments thereto), relating to the Common Stock, par value $0.01 per share (the “Shares”), of International Money Express, Inc., a Delaware corporation, is being filed jointly with the Securities and Exchange Commission, on behalf of each of the undersigned. Each of the undersigned shall be responsible for the accuracy and completeness of his/its own disclosure therein, and is not responsible for the accuracy and completeness of the information concerning the other undersigned, unless such undersigned knows or has reason to know that such information is inaccurate. This Agreement may be executed in counterparts and each of such counterparts taken together shall constitute one and the same instrument.

 

Dated:  September 23, 2020
/s/ Parsa Kiai
Parsa Kiai

 

Steamboat Capital Partners LLC
By:	/s/Parsa Kiai
	Parsa Kiai
	Managing Member