Schedule 13D/A

Filed by: PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
Total Shares: 1,499,404
Subject Company: Natures Sunshine Products Inc - View Complete Ownership History Backtest
Filed as of Date: 10/21/2020
Event Date: 10/16/2020
Overall % Ownership: 7.7
Theoretical performance if you bought this security on the day the filing was released.
Perf 1d Perf 5d Perf 1m Perf 6m Perf 1y Max Gain # Days to Max Gain Max Loss # Days to Max Loss
-2.4978 -6.4228 13.2025 86.3944 92.5104 120 -10.8863 13

Reporting Persons

Name Sole
Voting Power
Shared
Voting Power
Sole
Dispositive Power
Shared
Dispositive Power
Aggregate
Amount Owned
Percent
of class
Prescott Group Capital Management, LLC 1,499,404 0 1,499,404 0 1,499,404 7.7%
Prescott Group Aggressive Small Cap, LP 0 1,497,836 0 1,497,836 1,497,836 7.7%
Prescott Group Aggressive Small Cap II, LP 0 1,497,836 0 1,497,836 1,497,836 7.7%
Prescott Group Aggressive Small Cap Master Fund, GP 0 1,497,836 0 1,497,836 1,497,836 7.7%
Phil Frohlich 1,499,404 0 1,499,404 0 1,499,404 7.7%
View Original Filing on Edgar's

Raw Filing Contents

0001315863-20-000878.txt : 20201021
0001315863-20-000878.hdr.sgml : 20201021
20201021171912
ACCESSION NUMBER:		0001315863-20-000878
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20201021
DATE AS OF CHANGE:		20201021
GROUP MEMBERS:		PHIL FROHLICH
GROUP MEMBERS:		PRESCOTT GROUP AGGRESSIVE SMALL CAP II, L.P.
GROUP MEMBERS:		PRESCOTT GROUP AGGRESSIVE SMALL CAP MASTER FUND, G.P.
GROUP MEMBERS:		PRESCOTT GROUP AGGRESSIVE SMALL CAP, L.P.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATURES SUNSHINE PRODUCTS INC
		CENTRAL INDEX KEY:			0000275053
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				870327982
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-32703
		FILM NUMBER:		201251119

	BUSINESS ADDRESS:	
		STREET 1:		2901 WEST BLUEGRASS BLVD.
		STREET 2:		SUITE 100
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043
		BUSINESS PHONE:		(801) 341-7900

	MAIL ADDRESS:	
		STREET 1:		2901 WEST BLUEGRASS BLVD.
		STREET 2:		SUITE 100
		CITY:			LEHI
		STATE:			UT
		ZIP:			84043

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMTEC INDUSTRIES INC
		DATE OF NAME CHANGE:	19821108

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
		CENTRAL INDEX KEY:			0001166152
		IRS NUMBER:				731554000
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		1924 SOUTH UTICA
		STREET 2:		SUITE 1120
		CITY:			TULSA
		STATE:			OK
		ZIP:			74104-6429
		BUSINESS PHONE:		918-747-3412

	MAIL ADDRESS:	
		STREET 1:		1924 SOUTH UTICA
		STREET 2:		SUITE 1120
		CITY:			TULSA
		STATE:			OK
		ZIP:			74104-6429

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRESCOTT GROUP CAPITAL MANAGEMENT LLC
		DATE OF NAME CHANGE:	20020128
SC 13D/A 1 sc_13da_natures10-21.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)*


Nature’s Sunshine Products, Inc.
(Name of Issuer)

Common Stock, no par value per share
(Title of Class of Securities)

639027101
(CUSIP NUMBER)

Phil Frohlich
1924 South Utica Ave., Suite #1120
Tulsa, Oklahoma  74104-6429
(918) 747-3412
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

October 16, 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 which 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 [X].

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, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.





CUSIP No.   639027101
13D
 

1
NAME OF REPORTING PERSONS
 
Prescott Group Capital Management, L.L.C.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [  ] (b) [  ]
 
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS*
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [  ]
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Oklahoma
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
 
 
7
SOLE VOTING POWER
 
1,499,404
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
1,499,404
10
SHARED DISPOSITIVE POWER
 
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,499,404
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [  ]
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
7.7%
14
TYPE OF REPORTING PERSON*
 
IA

*SEE INSTRUCTIONS BEFORE FILLING OUT





CUSIP No. 639027101
13D
 

1
NAME OF REPORTING PERSONS
 
Prescott Group Aggressive Small Cap, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [  ] (b) [  ]
 
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS*
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [  ]
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Oklahoma
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
 
 
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
1,497,836
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
1,497,836
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,497,836
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [  ]
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
7.7%
14
TYPE OF REPORTING PERSON*
 
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT





CUSIP No. 639027101
13D
 

1
NAME OF REPORTING PERSONS
 
Prescott Group Aggressive Small Cap II, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [  ] (b) [  ]
 
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS*
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [  ]
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Oklahoma
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
 
 
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
1,497,836
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
1,497,836
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,497,836
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [  ]
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
7.7%
14
TYPE OF REPORTING PERSON*
 
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT





CUSIP No. 639027101
13D
 

1
NAME OF REPORTING PERSONS
 
Prescott Group Aggressive Small Cap Master Fund, G.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [  ] (b) [  ]
 
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS*
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [  ]
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Oklahoma
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
 
 
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
1,497,836
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
1,497,836
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,497,836
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [  ]
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
7.7%
14
TYPE OF REPORTING PERSON*
 
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT






CUSIP No. 639027101
13D
 

1
NAME OF REPORTING PERSONS
 
Phil Frohlich
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [  ] (b) [  ]
 
 
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS*
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [  ]
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
U.S. CITIZEN
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
 
 
7
SOLE VOTING POWER
 
1,499,404
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
1,499,404
10
SHARED DISPOSITIVE POWER
 
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,499,404
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [  ]
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
7.7%
14
TYPE OF REPORTING PERSON*
 
IN

*SEE INSTRUCTIONS BEFORE FILLING OUT




AMENDMENT NO. 3 TO SCHEDULE 13D

The following constitutes Amendment No. 3 (“Amendment No. 3”) to the Schedule 13D filed with the Securities and Exchange Commission (“SEC”) by Prescott Group Capital Management, L.L.C., an Oklahoma limited liability company (“Prescott Capital”), Prescott Group Aggressive Small Cap, L.P., an Oklahoma limited partnership (“Prescott Small Cap”), Prescott Group Aggressive Small Cap II, L.P., an Oklahoma limited partnership (“Prescott Small Cap II”, and, together with Prescott Small Cap, the “Small Cap Funds”), and Phil Frohlich, the principal of Prescott Capital, relating to Common Stock, no par value per share (the “Common Stock”), of Nature’s Sunshine Products, Inc., a Utah corporation (the “Issuer”) on May 5, 2009, as amended by Amendment No. 1 filed on August 28, 2014 and Amendment No. 2 filed June 8, 2020.

This Amendment No. 3 relates to shares of Common Stock of the Issuer held in the account of (i) Prescott Group Aggressive Small Cap Master Fund, G.P., an Oklahoma general partnership (“Master Fund”), of which the Small Cap Funds are general partners, and (ii) a partnership of which Prescott Capital serves as the general partner (the “Account”). Prescott Capital serves as the general partner and investment manager of the Small Cap Funds and may direct the Small Cap Funds, the general partners of the Master Fund, to direct the vote and disposition of the 1,497,836 shares of Common Stock held by the Master Fund. As the general partner of the Account, Prescott Capital may direct the vote and disposition of the 1,568 shares of Common Stock held by the Account.  As the principal of Prescott Capital, Mr. Frohlich may direct the vote and disposition of the 1,497,836 shares of Common Stock held by the Master Fund and the 1,568 shares of Common Stock held by the Account.

All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D, as amended. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.

Item 4.   Purpose of the Transaction

Item 4 of Schedule 13D is supplemented and superseded, as the case may be, as follows:

This Amendment No. 3 is being filed to report the termination of the Letter Agreement, dated August 25, 2014, by and between the Reporting Persons and the Issuer, which was previously filed as Exhibit 99.3 to Amendment No. 1 to the Schedule 13D filed with the SEC by the Reporting Persons on August 28, 2014.  The Letter Agreement automatically terminated in accordance with Section 18 thereto upon the resignation of Jeffrey D. Watkins, the Reporting Person’s representative, from the Issuer’s Board of Directors (the “Board”), effective October 16, 2020, as reported in the Issuer’s Form 8-K filed with the SEC on October 16, 2020.

In connection with the resignation of Reporting Persons’ Board representative, the Reporting Persons held discussions with certain members of the Issuer’s Board regarding a proposed replacement for the Reporting Persons’ representative on the Issuer’s Board. The Reporting Persons proposed an individual with significant public company experience, including in particular, deep data analytics experience. Subsequently, the Reporting Persons were notified that the Governance Committee of the Board had completely rejected the Reporting Persons’ candidate for Board service. The Reporting Persons are greatly disappointed that the Issuer saw no value in accepting the Reporting Persons’ thoughts and advice related to the Issuer’s future Board makeup and are reviewing various paths forward as a result of this action taken by the Issuer.

Consistent with their investment purpose, the Reporting Persons may make, or cause, dispositions of Common Stock from time to time and may acquire, or cause to be acquired, additional shares of Common Stock, in each case depending on market conditions and other factors.

The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time and at any time in the future depending on various factors, including, without limitation, the Issuer’s financial position and strategic direction, actions taken by the Issuer’s Board, price levels of the Issuer’s securities, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, take such actions with respect to the investment in the Issuer as they deem appropriate. These actions may include: (i) acquiring additional shares of Common Stock and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of securities of the Issuer (collectively, “Securities”) in the open market or otherwise; (ii) disposing of any or all of their Securities in the open market or otherwise; (iii) engaging in any hedging or similar transactions with respect to the Securities; or (iv) proposing or considering one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D.
Except as set forth herein, the Reporting Persons do not have present plans or proposals at this time that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

Item 5.                           Interest in Securities of the Issuer

Item 5 of the Schedule 13D is hereby amended and restated as follows:

(a) and (b) Items 7 through 11 and 13 of each of the cover pages of this Schedule 13D are incorporated herein by reference.  Such information is based on 19,510,764 shares of Common Stock outstanding as of July 24, 2020, as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on August 6, 2020.

As of October 21, 2020, the Master Fund directly held and beneficially owned 1,497,836 shares of Common Stock, representing approximately 7.7% of the outstanding Common Stock and 1,568 shares of Common Stock were held by the Account.  As general partners of the Master Fund, the Small Cap Funds may be deemed to beneficially own the shares of Common Stock held by the Master Fund.  As the general partner of the Small Cap Funds, Prescott Capital may also be deemed to beneficially own the shares of Common Stock held by the Master Fund.  As the general partner of the Account, Prescott Capital may be deemed to beneficially own the shares of Common Stock held by the Account.  As managing member of Prescott Capital, Phil Frohlich may be deemed to beneficially own the shares of Common Stock held by the Master Fund and the shares of Common Stock held by the Account.
The filing of this statement on Schedule 13D shall not be construed as admission that any of Prescott Capital, the Small Cap Funds or Mr. Frohlich is for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any of the 1,497,836 shares of Common Stock held by the Master Fund or the 1,568 shares of Common Stock held by the Account, and pursuant to Rule 13d-4, Prescott Capital, the Small Cap Funds and Mr. Frohlich disclaim all such beneficial ownership.

(c) There have been no transactions by the Reporting Persons in the class of securities reported on that were effected within the past 60 days.

(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock.

(e) Not applicable.

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

The information in Item 4 is incorporated herein by reference.









SIGNATURE

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

Dated:  October 21, 2020
 
 
 
Prescott Group Capital Management, L.L.C.
 
 
By:
 
/s/ Phil Frohlich
 
 
Phil Fohlich, Managing Member
 
 
Prescott Group Aggressive Small Cap, L.P.
 
 
By:
 
 Prescott Group Capital Management, L.L.C., its general partner
 
 
By:
 
/s/ Phil Frohlich
 
 
Phil Frohlich, Managing Member
 
 
Prescott Group Aggressive Small Cap II, L.P.
 
 
By:
 
Prescott Group Capital Management, L.L.C., its general partner
 
 
By:
 
/s/ Phil Frohlich
 
 
Phil Frohlich, Managing Member
 
 
Prescott Group Aggressive Small Cap Master Fund, G.P.
 
By:
 
 
Prescott Group Aggressive Small Cap, L.P., general partner
 
By:
 
By:
 
 
Prescott Group Aggressive Small Cap II, L.P., general partner

Prescott Group Capital Management, L.L.C., general partner
 
 
By:
 
/s/ Phil Frohlich
 
 
Phil Frolich, Managing Member
 
 
 
 
By:
 
 
/s/ Phil Frohlich
 
 
Phil Frohlich








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