UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 

SCHEDULE 13G/A 

Under the Securities Exchange Act of 1934

(Amendment No. 2)*



GNC Holdings, Inc.

(Name of Issuer)

 

Common Stock, par value $0.001 per share

(Title of Class of Securities)

 

36191G107

(CUSIP Number)

 

 

December 31, 2015
(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x Rule 13d-1(b)

o Rule 13d-1(c)

o Rule 13d-1(d)

 

 

*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 the disclosures provided in a prior cover page.

 

The information required in 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.  36191G107
 SCHEDULE 13G/A
Page 2 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon Management LP ("TPG-Axon Management")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
5,173,039 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
5,173,039 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,173,039 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.3%
12
TYPE OF REPORTING PERSON
 
PN

 

 
 


 

CUSIP No.   36191G107
 SCHEDULE 13G/A
Page 3 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon Partners GP, L.P. ("PartnersGP")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
5,173,039 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
5,173,039 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,173,039 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.3%
12
TYPE OF REPORTING PERSON
 
PN

 

 
 


 

CUSIP No.  36191G107
 SCHEDULE 13G/A
Page 4 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon GP, LLC ("GPLLC")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
5,173,039 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
5,173,039 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,173,039 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.3%
12
TYPE OF REPORTING PERSON
 
OO

 

 
 


 

CUSIP No.   36191G107
 SCHEDULE 13G/A
Page 5 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon Partners, LP ("TPG-Axon Domestic")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
2,070,250 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
2,070,250 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,070,250 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
2.5%
12
TYPE OF REPORTING PERSON
 
PN

 

 
 


 

CUSIP No.   36191G107
 SCHEDULE 13G/A
Page 6 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon International, L.P. ("TPG-Axon International")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
2,784,130 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
2,784,130 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,784,130 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
3.4%
12
TYPE OF REPORTING PERSON
 
PN

 

 
 


 

CUSIP No.   36191G107
 SCHEDULE 13G/A
Page 7 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
TPG-Axon International GP, LLC ("InternationalGP")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
2,784,130 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
2,784,130 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,784,130 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
3.4%
12
TYPE OF REPORTING PERSON
 
OO

 

 
 


 

CUSIP No.  36191G107
 SCHEDULE 13G/A
Page 8 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Dinakar Singh LLC ("Singh LLC")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
5,173,039 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
5,173,039 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,173,039 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.3%
12
TYPE OF REPORTING PERSON
 
OO

 

 
 


 

CUSIP No.  36191G107
 SCHEDULE 13G/A
Page 9 of 14 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Dinakar Singh ("Mr. Singh")
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
5,173,039 shares of Common Stock
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
5,173,039 shares of Common Stock
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,173,039 shares of Common Stock
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.3%
12
TYPE OF REPORTING PERSON
 
IN

 

 


 

CUSIP No. 36191G107
 SCHEDULE 13G/A
Page 10 of  14 Pages

 

Item 1.(a) Name of Issuer

GNC Holdings, Inc.

(b) Address of Issuer’s Principal Executive Offices

300 Sixth Avenue

Pittsburgh, Pennsylvania 15222

Item 2.(a) Name of Person Filing

This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons":

(i)  TPG-Axon Management LP ("TPG-Axon Management"), a Delaware limited partnership, with respect to the Shares reported in this Schedule 13G/A held by TPG-Axon Partners, LP ("TPG-Axon Domestic"), TPG-Axon International, L.P. ("TPG-Axon International") and a managed account (the "Account," and together with TPG-Axon International and TPG-Axon Domestic, the "Funds").

(ii)   TPG-Axon Partners GP, L.P. ("PartnersGP"), a Delaware limited partnership, which serves as the general partner of TPG-Axon Domestic and the managing member of InternationalGP, with respect to the Shares reported in this Schedule 13G/A managed by TPG-Axon Management and held by the Funds.

(iii)  TPG-Axon GP, LLC ("GPLLC"), a Delaware limited liability company, which serves as the general partner of TPG-Axon Management and PartnersGP, with respect to the Shares reported in this Schedule 13G/A managed by TPG-Axon Management and held by the Funds.

(iv) TPG-Axon Domestic, a Delaware limited partnership, with respect to the Shares reported in this Schedule 13G/A directly held by it.

(v)  TPG-Axon International, a Cayman Islands exempted limited partnership, with respect to the Shares reported in this Schedule 13G/A directly held by it.

(vi) TPG-Axon International GP, LLC ("InternationalGP"), a Delaware limited liability company, which serves as the general partner of TPG-Axon International, with respect to the Shares reported in this Schedule 13G/A managed by TPG-Axon Management and held by TPG-Axon International.

(vii) Dinakar Singh LLC ("Singh LLC"), a Delaware limited liability company which serves as the managing member of GPLLC, with respect to the Shares reported in this Schedule 13G/A managed by TPG-Axon Management and held by the Funds.

(viii) Dinakar Singh ("Mr. Singh"), an individual who serves as the managing member of Singh LLC, with respect to the Shares reported in this Schedule 13G/A managed by TPG-Axon Management and held by the Funds.

(b) Address of Principal Business Office, or, if none, Residence

(All, except TPG-Axon International)

888 Seventh Avenue

38th Floor

New York, New York 10019

 

TPG-Axon International

c/o Maples Corporate Services Limited

PO Box 309, Ugland House

Grand Cayman KY1-1104

Cayman Islands

(c) Citizenship

Delaware (all, except TPG-Axon International and Mr. Singh); TPG-Axon International: Cayman Islands; Mr. Singh is a United States citizen.

 (d) Title of Class of Securities

Common Stock, par value $0.001 per share (the "Shares")

 (e) CUSIP No.:

36191G107

 

 

CUSIP No.  36191G107
 SCHEDULE 13G/A
Page 11 of 14 Pages

 

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
 
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
 
  (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
 
  (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
  (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
  (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
  (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
  (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
  (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
 
  (k) ¨ A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                            
       

If this statement is filed pursuant to Rule 13d-1(c), check this box [ ].

 

 

CUSIP No. 36191G107
 SCHEDULE 13G/A
Page 12 of 14 Pages

 

 

Item 4. Ownership

 

TPG-Axon Management, as investment manager to the Funds, has the power to direct the disposition and voting of the Shares held by the Funds. InternationalGP is the general partner of TPG-Axon International. PartnersGP is the general partner of TPG-Axon Domestic and the managing member of InternationalGP. GPLLC is the general partner of PartnersGP and TPG-Axon Management. Singh LLC is a managing member of GPLLC. Mr. Singh, an individual, is the managing member of Singh LLC and in such capacity may be deemed to control Singh LLC, GPLLC and TPG-Axon Management, and therefore may be deemed the beneficial owner of the securities held by the Funds.

 

Each of Singh LLC, GPLLC, PartnersGP, InternationalGP, and Mr. Singh disclaim beneficial ownership of all of the shares of Common Stock reported in this 13G/A.

A. TPG-Axon Management

 

(a) Amount beneficially owned: 5,173,039 shares of Common Stock

(b) Percent of class: 6.3%

(All percentages of beneficial ownership reported in this Schedule 13G are based on the 82,653,778 outstanding shares of Common Stock reported in the Issuer's Form 10-Q for the quarterly period ended September 30, 2015.)

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 5,173,039 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 5,173,039 shares of Common Stock

B. PartnersGP

 

(a) Amount beneficially owned: 5,173,039 shares of Common Stock

(b) Percent of class: 6.3%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 5,173,039 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 5,173,039 shares of Common Stock

C. GPLLC

 

(a) Amount beneficially owned: 5,173,039 shares of Common Stock

(b) Percent of class: 6.3%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 5,173,039 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 5,173,039 shares of Common Stock

D. TPG-Axon Domestic

 

(a) Amount beneficially owned: 2,070,250 shares of Common Stock

(b) Percent of class: 2.5%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 2,070,250 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 2,070,250 shares of Common Stock

E. TPG-Axon International

 

(a) Amount beneficially owned: 2,784,130 shares of Common Stock

(b) Percent of class: 3.4%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 2,784,130 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 2,784,130 shares of Common Stock

F. InternationalGP

 

(a) Amount beneficially owned: 2,784,130 shares of Common Stock

(b) Percent of class: 3.4%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 2,784,130 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 2,784,130 shares of Common Stock

G. Singh LLC

 

(a) Amount beneficially owned: 5,173,039 shares of Common Stock

(b) Percent of class: 6.3%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 5,173,039 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 5,173,039 shares of Common Stock

H. Mr. Singh

 

(a) Amount beneficially owned: 5,173,039 shares of Common Stock

(b) Percent of class: 6.3%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote: 5,173,039 shares of Common Stock

(iii) Sole power to dispose or to direct the disposition of: 0

(iv) Shared power to dispose or to direct the disposition of: 5,173,039 shares of Common Stock

 
 


 

 

CUSIP No.  36191G107
 SCHEDULE 13G/A
Page 13 of  14 Pages

 

Item 5. Ownership of Five Percent or Less of a Class

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

 

Item 6. Ownership of More Than Five Percent on Behalf of Another Person

 

See Item 4.

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

 

Not Applicable

Item 8. Identification and Classification of Members of the Group

 

Not Applicable

Item 9. Notice of Dissolution of Group

 

Not Applicable

Item 10. Certification

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect..

 

 
 
CUSIP No. 36191G107
 SCHEDULE 13G/A
Page 14 of 14 Pages

 

 

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.

 

Dated: February 9, 2016

 

 

  TPG-Axon Management LP
  By: TPG-Axon GP, LLC, general partner
       
  By:  /s/ Dinakar Singh
    Name:  Dinakar Singh
    Title:  Chief Executive Officer

 

 

  TPG-Axon Partners GP, L.P.
  By: TPG-Axon GP, LLC, general partner
       
  By:  /s/ Dinakar Singh
    Name:  Dinakar Singh
    Title:  Chief Executive Officer

  TPG-Axon GP, LLC
       
  By:  /s/ Dinakar Singh
    Name:  Dinakar Singh
    Title: Chief Executive Officer

  TPG-Axon Partners, LP
  By: TPG-Axon Partners GP, L.P., general partner
  By: TPG-Axon GP, LLC, general partner
       
  By:  /s/ Dinakar Singh
    Name:   Dinakar Singh
    Title:  Chief Executive Officer

   
TPG-Axon International, L.P.
  By: TPG-Axon International GP, LLC, general partner
  By: TPG-Axon Partners GP, L.P., managing member
  By: TPG-Axon GP, LLC, general partner
 
  By:  /s/ Dinakar Singh
    Name:   Dinakar Singh
    Title:  Chief Executive Officer

     
  TPG-Axon International GP, LLC
  By: TPG-Axon Partners GP, L.P., managing member
  By: TPG-Axon GP, LLC, general partner
 
By:  /s/ Dinakar Singh
    Name:   Dinakar Singh
    Title:  Chief Executive Officer

 

       
  Dinakar Singh LLC
 
By:  /s/ Dinakar Singh
    Name:  Dinakar Singh
    Title:  Managing Member

       
By:  /s/ Dinakar Singh
    Name:   Dinakar Singh