SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
(Amendment No. )*
Internap Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
45885A300
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(CUSIP Number)
Peter C. Keefe
Avenir Corporation
1775 Pennsylvania Ave NW
Suite 650
Washington DC, 20006
(202) 659-4427
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 21, 2016
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(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]
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 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
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CUSIP No. 45885A300
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Avenir Corporation
I.D. No. 54-1146619
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
5,672,890
NUMBER -------- ---------------------------------------------------
OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------- ---------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 5,672,890
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
5,672,890
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
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14 TYPE OF REPORTING PERSON*
IA
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SCHEDULE 13D
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CUSIP No. 45885A300
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Item 1. Security and Issuer
This Schedule 13D ("Schedule") is being filed on behalf of Avenir Corporation
("Avenir"), a Virginia corporation, and amends the Schedule 13G filed
on February 12, 2016. This Schedule relates to the common stock of Internap
Corporation, a Delaware corporation ("Issuer"), which has its principal
executive offices at One Ravinia Drive, Suite 1300, Atlanta, Georgia, 30346.
Unless the context otherwise requires, references herein to "Securities" or
"Shares" are to such common stock of the Issuer.
Item 3. Source and Amount of Funds or Other Consideration.
The Securities of the Issuer were primarily acquired on behalf of the
investment advisory clients of Avenir under sole or shared discretionary
authority granted Avenir. In addition, Avenir and/or its principal officers
and employees purchased Shares in the Issuer for their personal accounts. The
aggregate amount of funds used to purchase the Securities reported in this
filing totaled approximately $40,092,875. In addition, none of the proceeds
used to purchase the Securities were expressly provided through borrowings,
though certain accounts managed by Avenir may carry margin balances from time
to time.
Item 4. Purpose of Transaction
Avenir acquired the shares for investment purposes. Over time, Avenir may seek
to purchase additional shares or dispose of shares as part of its ongoing
portfolio management process. Avenir reserves the right to be in contact with
members of the Issuer's management, the members of the Issuer's Board of
Directors, other significant shareholders and others regarding alternatives that
the Issuer could employ to increase shareholder value. In addition, Avenir may
be in contact with members of the Issuer's management, the members of the
Issuer's Board of Directors, other significant shareholders and others regarding
Avenir's views on the long-term prospects of the Issuer.
Item 5. Interest In Securities Of The Issuer
(a) The aggregate number and percentage of Securities to which this
Schedule 13D relates is 5,672,890 shares of the common stock of the Issuer,
constituting approximately 10.2% of the 55,895,061 shares outstanding.
(b) Avenir generally has the sole power to dispose of or to direct the
disposition of the Securities held for discretionary accounts of its investment
clients, and may be granted the sole power to vote or direct the vote of such
Securities; such powers may be retained by or shared with the respective clients
for shared or non-discretionary accounts, for which Avenir generally makes
recommendations with respect thereto.
(c) All purchase or sale transactions in the Securities for the past
60 days are on Schedule A.
(d) The investment advisory clients of Avenir have the sole right to
receive and, subject to notice, to withdraw the proceeds from the sale of the
Securities, and the sole power to direct the receipt of dividends from any of
the Securities held for their respective accounts. Such clients may also
terminate the investment advisory agreements without penalty upon appropriate
notice.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
The powers of disposition with respect to Securities owned by discretionary
private accounts of Avenir are established in written investment advisory
agreements between clients and Avenir, which are entered into in the normal
and usual course of the business of Avenir as a registered investment advisor
and which are generally applicable to all securities purchased for the benefit
of each such discretionary private account. There are no special or different
agreements relating to the Securities of the Issuer.
The written investment advisory agreements with clients do not contain
provisions relating to borrowing of funds to finance the acquisition of the
Securities, acquisition of control, transfer of securities, joint ventures,
or any of the other transactions listed in the instructions to Item 7 of
Schedule 13D other than voting of proxies. In connection with voting, Avenir
may be allowed or directed to vote the proxies received by accounts classified
as "discretionary" or "shared" accounts; such authority is generally retained
by the clients for accounts classified as "non-discretionary".
Item 7. Material to be Filed as an Exhibit
SCHEDULE 13D
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CUSIP No. 45885A300
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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.
March 21, 2016
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Date
/s/ Peter C. Keefe
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Signature
Peter C. Keefe/Ex. Chairman
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Name/Title
SCHEDULE 13D
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CUSIP No. 45885A300
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SCHEDULE A
PURCHASE ("BY") AND SALE ("SL") TRANSACTIONS, TRANSFER OUTS ("LO") AND TRANSFER
INS ("LI") SINCE THE MOST RECENT FILING OF SCHEDULE 13D
All purchases and sales listed below were normal, open-market transactions.
Average
Transaction Per
Type Date Quantity Total Price Share
SL 1/22/2016 4710 18352.18 3.90
SL 1/25/2016 6800 26315.91 3.87
SL 1/26/2016 510 2006.46 3.93
LO 1/27/2016 45469 171418.13 3.77
SL 1/28/2016 9844 37138.75 3.77
LO 2/03/2016 1840 6513.60 3.54
SL 2/03/2016 6800 24259.91 3.57
SL 2/04/2016 1980 7142.83 3.61
LO 2/05/2016 2815 9317.65 3.31
BY 2/09/2016 5000 14927.50 2.99
SL 2/12/2016 1000 2980.93 2.98
SL 2/16/2016 8505 25392.78 2.99
SL 2/17/2016 134031 393971.16 2.94
BY 2/18/2016 2000 5505.00 2.75
SL 2/18/2016 5304 14881.10 2.81
BY 2/19/2016 42165 81017.40 1.92
LO 2/19/2016 4765 10054.15 2.11
SL 2/22/2016 10375 20689.58 1.99
SL 2/23/2016 1408 2987.85 2.12
SL 2/24/2016 310 649.52 2.10
LO 2/25/2016 4880 12346.40 2.53
LO 2/26/2016 3677 9413.12 2.56
SL 2/29/2016 745 1916.29 2.57
SL 3/02/2016 2972 8538.07 2.87
SL 3/07/2016 5000 15321.66 3.06
SL 3/11/2016 66706 181589.76 2.72
SL 3/14/2016 140641 389384.22 2.77
SL 3/15/2016 43350 111298.69 2.57
SL 3/16/2016 1065 2750.39 2.58
SL 3/17/2016 25778 69444.13 2.69
SL 3/21/2016 4427 12335.55 2.79