Note: Schedules filed in paper format shall include
a signed original and five copies of the schedule, including all exhibits. See Rule 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).
CUSIP
No. 902925106 |
SCHEDULE
13D |
Page
2 of 12 |
1. |
NAME
OF REPORTING PERSON:
Magnetar
Financial LLC
|
2. |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨
(b) x |
3. |
SEC
USE ONLY
|
4. |
SOURCE
OF FUNDS
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
Delaware
|
NUMBER
OF
SHARES |
7. |
SOLE
VOTING POWER
0 |
BENEFICIALLY
OWNED BY |
8. |
SHARED
VOTING POWER
542,355 |
EACH
REPORTING
PERSON |
9. |
SOLE
DISPOSITIVE POWER
0 |
WITH |
10. |
SHARED
DISPOSITIVE POWER
542,355 |
11. |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
542,355 |
12. |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
|
13. |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.00% |
14. |
TYPE
OF REPORTING PERSON
IA;
OO |
CUSIP
No. 902925106 |
SCHEDULE
13D |
Page
3 of 12 |
1. |
NAME
OF REPORTING PERSON:
Magnetar
Capital Partners LP
|
2. |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨
(b) x |
3. |
SEC
USE ONLY
|
4. |
SOURCE
OF FUNDS
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
Delaware
|
NUMBER
OF
SHARES |
7. |
SOLE
VOTING POWER
0
|
BENEFICIALLY
OWNED BY |
8. |
SHARED
VOTING POWER
542,355 |
EACH REPORTING
PERSON |
9. |
SOLE
DISPOSITIVE POWER
0 |
WITH |
10. |
SHARED
DISPOSITIVE POWER
542,355 |
11. |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
542,355 |
12. |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
|
13. |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.00% |
14. |
TYPE
OF REPORTING PERSON
HC;
OO |
CUSIP
No. 902925106 |
SCHEDULE
13D |
Page
4 of 12 |
1. |
NAME
OF REPORTING PERSON:
Supernova
Management LLC
|
2. |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨
(b) x |
3. |
SEC
USE ONLY
|
4. |
SOURCE
OF FUNDS
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
Delaware
|
NUMBER
OF
SHARES |
7. |
SOLE
VOTING POWER
0 |
BENEFICIALLY
OWNED BY |
8. |
SHARED
VOTING POWER
542,355 |
EACH REPORTING
PERSON |
9. |
SOLE
DISPOSITIVE POWER
0 |
WITH |
10. |
SHARED
DISPOSITIVE POWER
542,355 |
11. |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
542,355 |
12. |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
|
13. |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.00% |
14. |
TYPE
OF REPORTING PERSON
HC;
OO |
CUSIP
No. 902925106 |
SCHEDULE
13D |
Page
5 of 12 |
1. |
NAME
OF REPORTING PERSON:
Alec
N. Litowitz
|
2. |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨
(b) x |
3. |
SEC
USE ONLY
|
4. |
SOURCE
OF FUNDS
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
United
States of America
|
NUMBER
OF
SHARES |
7. |
SOLE
VOTING POWER
0 |
BENEFICIALLY
OWNED BY |
8. |
SHARED
VOTING POWER
542,355 |
EACH REPORTING
PERSON |
9. |
SOLE
DISPOSITIVE POWER
0 |
WITH |
10. |
SHARED
DISPOSITIVE POWER
542,355 |
11. |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
542,355 |
12. |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
|
13. |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.00% |
14. |
TYPE
OF REPORTING PERSON
HC;
IN |
SCHEDULE 13D
| item 1. | security
and issuer |
This
Schedule 13D (this “Statement”) relates to the common stock, $0.01 par value (the “Shares”), of
USA Truck Inc., a company incorporated in Delaware (the “Company”). The principal executive offices of the Company
is 3200 Industrial Park Road, Van Buren, Arkansas 72956.
| Item 2. | identity
and background |
(a) The
persons filing this Statement are Magnetar Financial LLC, a Delaware limited liability company (“Magnetar Financial”),
Magnetar Capital Partners LP, a Delaware limited partnership (“Magnetar Capital Partners”), Supernova Management LLC,
a Delaware limited liability company (“Supernova Management”), and Alec N. Litowitz (“Mr. Litowitz”)
(collectively, the “Reporting Persons”).
This Statement relates to
Shares held for the accounts of each of (i) Magnetar PRA Master Fund Ltd, a Cayman Islands exempted company (“PRA Master Fund”),
and (ii) Magnetar Systematic Multi-Strategy Master Fund Ltd, a Cayman Islands exempted company, (“Systematic Master Fund, collectively
(the “Funds”).
Magnetar Financial is a Securities
and Exchange Commission (“SEC”) registered investment adviser under Section 203 of the Investment Advisers Act of
1940, as amended, and manager of investment funds and managed accounts. Magnetar Financial serves as investment adviser to each of the
Funds. In such capacity, Magnetar Financial exercises voting and investment power over the Shares held for the accounts of each of the
Funds. Magnetar Capital Partners serves as the sole member and parent holding company of Magnetar Financial. Supernova Management is
the general partner of Magnetar Capital Partners. The manager of Supernova Management is Mr. Litowitz.
(b) The
business address of each of the Reporting Persons is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.
(c) Each
of the Funds is a private investment fund; Magnetar Financial is a privately-held SEC registered investment adviser and manager of investment
funds and managed accounts; Magnetar Capital Partners is a privately-held limited partnership and serves as the sole member and parent
holding company of Magnetar Financial; Supernova Management is a privately-held limited liability company and is the general partner
of Magnetar Capital Partners; and Mr. Litowitz is a citizen of the United States of America, manager of Supernova Management and Chief
Executive Officer of Magnetar Financial.
(d) None
of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None
of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such Reporting Person was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect
to such laws.
(f) Magnetar
Financial is a Delaware limited liability company. Magnetar Capital Partners is a Delaware limited partnership. Supernova Management
is a Delaware limited liability company. Mr. Litowitz is a citizen of the United States of America.
| Item 3. | source
and amount of funds or other consideration |
The
aggregate amount of funds used by the Reporting Persons in purchasing the 542,355 Shares reported herein on behalf of the Funds
have come directly from the assets of the Funds, which may at any given time, have included margin loans made by brokerage firms in the
ordinary course of business. The aggregate amount of funds used by the Reporting Persons in purchasing the Shares on behalf of the Funds
was $16,828,929.80 (excluding commissions and other execution-related costs).
| ITEM 4. | PURPOSE
OF TRANSACTION |
The Reporting Persons acquired
the 542,355 Shares reported herein on behalf of the Funds after the public announcement of the Merger Agreement (as defined below) for
purposes of receiving the merger consideration described below upon consummation of the Merger (as described below).
Each of the Reporting Persons
reserves the right to acquire additional securities of the Company in the open market, in privately negotiated transactions, or otherwise,
to dispose of all or a portion of the Shares and/or other securities reported in this Statement, or to change their intention with respect
to any or all of the matters referred to in this Item 4.
Other than as described above
in this Item 4, the Reporting Persons do not have any plans or proposals that relate to, or would result in, any actions or events specified
in clauses (a) through (j) of Item 4 to Schedule 13D.
| ITEM 5. | INTEREST
IN SECURITIES OF THE ISSUER |
The Company reported in their
Form 8-K filed on June 24, 2022, that 9,033766 Shares outstanding as of June 23, 2022.
(a)
As of the close of business July 6, 2022, each of the Reporting Persons may have been deemed to have beneficial ownership of 542,355
Shares, which consisted of (i) 449,492 Shares held for the benefit of PRA Master Fund and (ii) 92,863 Shares held for the benefit of
Systematic Master Fund, and all such Shares represented beneficial ownership of approximately 6.00% of the Shares.
(b)
As of the close of business July 6, 2022, each of the Reporting Persons may have been deemed to share the power to vote and direct
the disposition of 542,355 Shares, which consisted of (i) 449,492 Shares held for the benefit of PRA Master Fund and (ii) 92,863 Shares
held for the benefit of Systematic Master Fund and all such Shares represented beneficial ownership of approximately 6.00% of the Shares.
(c)
Except as set forth on Schedule A attached hereto and Item 6, the Funds had no transactions in the Shares during the 60
days preceding the date of filing of this Statement. All of the transactions set forth on Schedule A attached hereto were effected
in the ordinary course of business of Magnetar Financial for the accounts of each of the Funds. The transactions in the Shares set forth
on Schedule A were effected in open market transactions on the NASDAQ and various other trading markets.
As disclosed by the Company in the 8-K filed with the SEC on June
23, 2022:
On June 23, 2022, USA
Truck, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger
Agreement”) with Schenker, Inc., a New York corporation (“Parent”) and Tango Merger, Inc., a Delaware corporation
and a wholly owned subsidiary of Parent (“Merger Sub”). The Merger Agreement provides, among other things, and subject
to the terms and conditions set forth therein, that Merger Sub will be merged with and into the Company, with the Company surviving as
a wholly owned subsidiary of Parent (the “Merger”). Parent and Merger Sub are affiliates of DB Schenker, one
of the world's leading logistics service providers.
(d) No
other person is known by the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or
the proceeds from the sale of, any Shares that are beneficially owned by the Reporting Persons.
Item
6. contracts, arrangements, understandings or relationships with respect to the securities of the
issuer
Pursuant to Rule 13d-1(k)(1)
promulgated under the Securities Exchange Act of 1934, as amended, the Reporting Persons have entered into an agreement with respect
to the joint filing of this Statement, and any amendment or amendments hereto.
Except as otherwise described herein, no contracts,
arrangements, understandings or similar relationships exist with respect to the securities of the Company among or between the Reporting
Persons or any other person or entity.
ITEM 7. MATERIAL
TO BE FILED AS EXHIBITS
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: July 7, 2022
|
magnetar financial
llc |
|
|
|
|
By: Magnetar Capital Partners LP, its Sole
Member |
|
|
|
|
By: |
/s/
Alec N. Litowitz |
|
|
Name: |
Alec N. Litowitz |
|
|
Title: |
Manager of Supernova Management LLC, the General Partner
of Magnetar Capital Partners LP |
|
|
|
|
magnetar capital
partners LP |
|
|
|
|
By: |
/s/
Alec N. Litowitz |
|
|
Name: |
Alec N. Litowitz |
|
|
Title: |
Manager of Supernova Management LLC, the General Partner
of Magnetar Capital Partners LP |
|
|
|
|
supernova management
llc |
|
|
|
|
By: |
/s/
Alec N. Litowitz |
|
|
Name: |
Alec N. Litowitz |
|
|
Title: |
Manager |
|
|
|
|
/s/
Alec N. Litowitz |
|
Alec N. Litowitz |
SCHEDULE A
Funds
Date | |
Number
of Shares Bought | | |
Price
Per Share($) (1)(2) |
6/24/2022 | |
| 101,830 | | |
| 30.8492
|
(3) |
6/27/2022 | |
| 220,424 | | |
| 31.0109
|
(4) |
6/28/2022 | |
| 103,274 | | |
| 31.0139 |
(5) |
6/29/2022 | |
| 58,413 | | |
| 31.1578
|
(6) |
6/30/2022 | |
| 44,071 | | |
| 31.3569
|
(7) |
7/1/2022 | |
| 14,343 | | |
| 31.1722
|
(8) |
(1) Excludes commissions
and other execution-related costs.
(2) Upon request by the staff of the
Securities and Exchange Commission, full information regarding the number of shares bought or sold (as the case may be) at each separate
price will be provided.
(3) Reflects a weighted average purchase price
of $3.05611 per share, at prices ranging from $30.785 to $31.035 per share.
(4) Reflects a weighted average purchase price
of $3.05928 per share, at prices ranging from $30.78 to $31.4 per share.
(5) Reflects a weighted average purchase price
of $3.10980 per share, at prices ranging from $30.86to $31.18 per share.
(6) Reflects a weighted average purchase price
of $3.04916 per share, at prices ranging from $31.01 to $31.4 per share.
(7) Reflects a weighted average purchase price
of $3.12491 per share, at prices ranging from $31.13 to $31.4 per share.
(8) Reflects a weighted average purchase price
of $3.08027 per share, at prices ranging from $31.095 to $31.365 per share.
EXHIBIT INDEX