jf13da-hudson_sagard.htm
 

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
 
Hudson Global, Inc.
(Name of Issuer)
 
 
Common Stock, $0.001 par value
(Title Class of Securities)
 
 
443787106
(CUSIP Number)
 
 
Dan Friedberg
Sagard Capital Partners, L.P.
325 Greenwich Avenue
Greenwich, CT 06830
(203) 629-6700
 
 
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
 
May 11, 2012
(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 Rule 13d-1(e), 13d-1(f) or 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 fling 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. 443787106
SCHEDULE 13D
Page 2 of 8
 
 
 
 
1
NAME OF REPORTING PERSON:  Sagard Capital Partners, L.P.
 
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (E ntities Only): 20-3332164
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                     (a) o
                                                (b) o
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS
 
WC
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)                o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
7
SOLE VOTING POWER
 
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER
 
3,132,434
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER
 
                 0
 
PERSON
WITH
10
SHARED DISPOSITIVE POWER
 
 3,132,434
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
           3,132,434
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES                  o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
            9.4%
 
14
TYPE OF REPORTING PERSON
         
            PN
 
 
 
 
 
 
 
 
 
 
 
CUSIP No. 443787106
SCHEDULE 13D
Page 3 of 8
 
 
 
 
1
NAME OF REPORTING PERSON:  Sagard Capital Partners GP, Inc.
 
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (E ntities Only): 20-3331555
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                     (a) o
                                                (b) o
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS
 
AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)                o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
7
SOLE VOTING POWER
 
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER
 
3,132,434
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER
 
                 0
 
PERSON
WITH
10
SHARED DISPOSITIVE POWER
 
 3,132,434
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
           3,132,434
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES                  o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
            9.4%
 
14
TYPE OF REPORTING PERSON
         
            CO
 
 
 
 
 
 
 
 
 
 
 
CUSIP No. 443787106
SCHEDULE 13D
Page 4 of 8
 
 
 
 
1
NAME OF REPORTING PERSON:  Sagard Capital Partners Management Corp.
 
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (E ntities Only): 20-2402055
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                     (a) o
                                                (b) o
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS
 
AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)                o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
7
SOLE VOTING POWER
 
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER
 
3,132,434
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER
 
                 0
 
PERSON
WITH
10
SHARED DISPOSITIVE POWER
 
 3,132,434
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
           3,132,434
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES                  o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
            9.4%
 
14
TYPE OF REPORTING PERSON
         
            CO
 
 
 
 
 
 
 
 
Item 1.           Security and Issuer.
 
This Amendment No. 1 to Schedule 13D (this “Statement”) relates to the beneficial ownership of Common Stock, $0.001 par value per share (the “Shares”) of Hudson Global, Inc., formerly known as Hudson Highland Group, Inc., a Delaware corporation (the “Issuer”).  This Statement is being filed on behalf of the Reporting Persons and amends and supplements the Schedule 13D filed by the Reporting Persons dated April 9, 2012.  Unless otherwise defined, all capitalized terms used herein shall have the respective meanings given such terms in the initial Schedule 13D.
 
Item 3.           Source and Amount of Funds or Other Consideration.
 
The 419,961 additional Shares (in addition to the 2,712,473 Shares reflected in the initial Schedule 13D) reported herein as being currently beneficially owned were acquired via open market purchases.

The aggregate purchase price for the additional Shares reported herein as beneficially owned by the Reporting Persons is $2,013,765.68.  All Shares held by Sagard were acquired with Sagard’s working capital.
 
Item 5.           Interest in Securities of the Issuer.
 
Items 5(a)-(c) are hereby amended and restated in their entirety as follows:
 
(a)           As of May 11, 2012, each Reporting Person beneficially owned 3,132,434 Shares, which represented 9.4% of the outstanding Shares, based upon 33,249,192 Shares outstanding on March 31, 2012, as reflected in the Issuer’s Form 10-Q filed May 2, 2012.
 
In accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the “Release”) this filing reflects the securities beneficially owned by PCC and certain of its subsidiaries, including Sagard.  The filing does not reflect securities beneficially owned, if any, by any subsidiaries of PCC whose ownership of securities is disaggregated from that of PCC in accordance with the Release.
 
The beneficial ownership reflected in the remainder of this Item 5, and in the cover pages, reflect beneficial ownership as of May 11, 2012.
 
(b)
Sole power to vote or direct the vote:  0
 
Shared power to vote or direct the vote:  3,132,434
 
Sole power to dispose or to direct the disposition:  0
 
Shared power to dispose or direct the disposition:  3,132,434
 
The power to vote or to direct the vote or to dispose or direct the disposition of the Shares reported herein is shared among the Reporting Persons.
 
(c)  
The following transactions have been effected by Sagard over the last 60 days:
 
Purchases
 
 
Trade Date
Price
Quantity
  
         
 
3/27/12
$5.4776
2,900
  
 
3/28/12
$5.3208
3,500
  
 
3/29/12
$5.2993
6,000
  
 
3/30/12
$5.4288
3,200
  
 
4/2/12
$5.3957
23,100
  
 
4/2/12
$5.3071
15,800
  
 
4/3/12
$5.1509
5,300
  
 
4/4/12
$4.9966
8,100
  
 
4/5/12
$4.9940
6,200
  
 
4/5/12
$4.9725
11,900
  
 
4/9/12
$4.9950
50,000
  
 
4/9/12
$5.0501
25,000
  
 
4/10/12
$4.9990
23,700
  
 
4/10/12
$4.9923
75,000
  
 
4/11/12
$5.0744
17,800
  
 
4/11/12
$5.0846
240,000
  
 
4/12/12
$5.1413
11,100
  
 
4/12/12
$5.1000
20,000
  
 
4/13/12
$4.9988
40,000
  
 
4/13/12
$5.0158
16,600
  
 
4/16/12
$5.2169
5,800
  
 
4/16/12
$5.3500
200,000
  
 
4/17/12
$5.6195
2,200
  
 
4/17/12
$5.6000
340,000
  
 
4/18/12
$5.6791
5,673
  
 
4/19/12
$5.4381
12,300
  
 
4/19/12
$5.3933
15,000
  
 
4/20/12
$5.5379
6,200
  
 
4/23/12
$5.2438
6,100
  
 
4/24/12
$5.3615
11,400
  
 
4/24/12
$5.3482
10,000
  
 
4/25/12
$5.3200
5,000
  
 
4/26/12
$5.1767
10,600
  
 
4/27/12
$5.5111
25,000
  
 
4/30/12
$5.5755
5,800
  
 
5/1/12
$5.0126
21,300
  
 
5/1/12
$5.0381
65,000
  
 
5/2/12
$4.9682
6,405
  
 
5/2/12
$4.9600
10,000
  
 
5/3/12
$4.8911
8,887
  
 
5/4/12
$4.6163
17,943
  
 
5/4/12
$4.5971
35,000
  
 
5/7/12
$4.4998
28,201
  
 
5/7/12
$4.5825
20,000
  
 
5/8/12
$4.3522
6,400
  
 
5/8/12
$4.3900
12,000
  
 
5/9/12
$4.4005
18,500
  
 
5/9/12
$4.3500
25,000
  
 
5/9/12
$4.3600
13,025
  
 
5/10/12
$4.3306
2,522
  
 
5/11/12
$4.1136
9,678
  
 
5/11/12
$4.1113
40,000
  
 
Note: Purchases of Shares from March 27, 2012 through April 19, 2012 reflected in the preceding table have previously been reflected in the initial Schedule 13D.
 
Item 7.            Material to Be Filed as Exhibits.
 
Exhibit A
Persons Who may be Deemed to Control the Reporting Persons (previously filed).
 
Exhibit B
Executive Officers and Directors of Sagard Capital Partners GP, Inc. and Sagard Capital Partners Management Corp. (previously filed).
 
Exhibit C
Executive Officers and Directors of Power Corporation of Canada (previously filed).
 
 
 
 
 
 
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:  May 14, 2012
SAGARD CAPITAL PARTNERS, L.P.
 
By:     Sagard Capital Partners GP, Inc., its general partner
 
 
By:
/s/ Dan Friedberg
 
Name:
Dan Friedberg
 
Title:
President
 
 
SAGARD CAPITAL PARTNERS GP, INC.
 
 
 
 
By:
/s/ Dan Friedberg
 
Name:
Dan Friedberg
 
Title:
President
 

 
 
SAGARD CAPITAL PARTNERS MANAGEMENT CORP.
 
 
 
 
By:
/s/ Dan Friedberg
 
Name:
Dan Friedberg
 
Title:
President