ccvitaminshoppe13d042115.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D


Under the Securities Exchange Act of 1934
 
(Amendment No. 1 )*



Vitamin Shoppe, Inc.
(Name of Issuer)
 
 Common Shares of Beneficial Interest, par value $0.01 per share
(Title of Class of Securities)
 
92849E101
(CUSIP Number)
 
Shahla Ali
Carlson Capital, L.P.
2100 McKinney Avenue
Dallas, TX 75201
(214) 932-9600
 
with a copy to:
George J. Mazin
Dechert LLP
1095 Avenue of the Americas
New York, NY  10036 
 (Name, Address and Telephone Number of Person
 Authorizsed to Receive Notices and Communications)
 
  July 31, 2015
 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), rule 13d-1(f) or Rule 13d-1(g), check the following box.  [   ]
 
(Page 1 of 22 Pages)
_________________________
* 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 (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 (however, see the Notes).
 


 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 2 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Double Black Diamond Offshore Ltd.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          1,314,215 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   1,314,215 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       1,314,215 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       4.42%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 3 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Black Diamond Relative Value Offshore Ltd.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          416,692 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   416,692 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       416,692 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       1.40%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 4 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Black Diamond Relative Value Cayman, L.P.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          76,594 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   76,594 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       76,594 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       0.26%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 5 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Black Diamond Offshore Ltd.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          49,258 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   49,258 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       49,258 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       0.17%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 6 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Black Diamond SRI Offshore Ltd.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP181
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          18,100 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   18,100 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       18,100 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       0.06%
   
14
TYPE OF REPORTING PERSON
      CO
 
 

 
 
 
 

 
CUSIP No.  92849E101
SCHEDULE 13D
Page 7 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Black Diamond Arbitrage Offshore Ltd.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Cayman Islands
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          11,501 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   11,501 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       11,501 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       0.04%
   
14
TYPE OF REPORTING PERSON
      CO
 
 


 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 8 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Carlson Capital, L.P.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Delaware
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          1,973,288 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   1,973,288 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       1,973,288 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       6.63%
   
14
TYPE OF REPORTING PERSON
      PN; IA
 
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 9 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Asgard Investment Corp. II
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Delaware
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          1,973,288 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   1,973,288 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       1,973,288 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       6.63%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 10 of 22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Asgard Investment Corp.
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           Delaware
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          1,973,288 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   1,973,288 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       1,973,288 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       6.63%
   
14
TYPE OF REPORTING PERSON
      CO
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 11 of  22 Pages
 
 
 
1
 NAMES OF REPORTING PERSON          
    Clint D. Carlson
  
2
 
 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a)  [   ]
 (b)  [X]
3 SEC USE ONLY
 
4
SOURCE OF FUNDS
             AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
 
       [    ]
6
CITIZENSHIP OR PLACE OF ORGANIZATION
           United States
  
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
          0
8
SHARED VOTING POWER
          1,973,288 Common Shares
9
SOLE DISPOSITIVE POWER
          0
10
SHARED DISPOSITIVE POWER
   1,973,288 Common Shares
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       1,973,288 Common Shares
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
 
      [  ]
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
       6.63%
   
14
TYPE OF REPORTING PERSON
      IN
 
 

 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 12 of  22 Pages
 
 
 
 Item 1. SECURITY AND ISSUER
   
   This Amendment No. 1 to Schedule 13D (this “Schedule 13D”) relates to the common shares of beneficial interest, par value $0.01 per share (“Common Shares”), of Vitamin Shoppe, Inc., a Delaware corporation (the “Issuer”). The address of the Issuer’s principal executive office is 2101 91st Street, North Bergen, New Jersey 07047.
   
Item 2. IDENTITY AND BACKGROUND
   
 
(a) This Amendment No. 1 to Schedule 13D is filed by: (i) Double Black Diamond Offshore Ltd., a Cayman Islands exempted company (“DOF”); (ii) Black Diamond Relative Value Offshore Ltd., a Cayman Islands exempted company (“ROF”); (iii) Black Diamond Relative Value Cayman, L.P., a Cayman Islands exempted limited partnership (“RVC”); (iv) Black Diamond Offshore Ltd., a Cayman Islands exempted company (“OFF”); (v) Black Diamond SRI Offshore Ltd., a Cayman Islands exempted company (“SRI”); (vi) Black Diamond Arbitrage Offshore Ltd., a Cayman Islands exempted company (“AOF” and together with DOF, ROF, RVC, OFF and SRI, the “Funds”); (vii) Carlson Capital, L.P., a Delaware limited partnership (“Carlson Capital”); (viii) Asgard Investment Corp. II, a Delaware corporation and the general partner of Carlson Capital (“Asgard II”); (ix) Asgard Investment Corp., a Delaware corporation and the sole stockholder of Asgard II (“Asgard I”); and (x) Clint D. Carlson, a citizen of the United States of America (“Mr. Carlson” and together with the Funds, Carlson Capital, Asgard II and Asgard I, the “Reporting Persons”). The name, citizenship, present principal occupation or employment and business address of each director and executive officer of Asgard I and Asgard II are set forth in Appendix A attached hereto.
   
 
(b) The principal business address of each of the Reporting Persons is 2100 McKinney Avenue, Suite 1800, Dallas, TX 75201.
   
 
(c) The principal business of the Funds is to invest in securities. The principal business of Carlson Capital is to serve as the investment manager to the Funds and to certain managed accounts (the “Accounts”). The principal business of Asgard II is serving as the general partner of Carlson Capital. The principal business of Asgard I is serving as the sole stockholder of Asgard II. The principal occupation of Mr. Carlson is serving as President of Asgard II, Asgard I and Carlson Capital.
   
 
(d) None of the Reporting Persons or persons listed on Appendix A has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
   
 
(e) None of the Reporting Persons or persons listed on Appendix A has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings 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) Mr. Carlson is a citizen of the United States.
   
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
   
 
Reporting Persons used approximately $14,666,719 (including brokerage commissions) in the aggregate to purchase the Common Shares reported in this Schedule 13D.
   
 
The source of the funds used to acquire the Common Shares reported herein is the working capital of the Funds and the Accounts and margin borrowings described in the following sentence. Such Common Shares are held by the Reporting Persons in commingled margin accounts, which may extend margin credit to the Reporting Persons from time to time, subject to applicable federal margin regulations, stock exchange rules and credit policies. In such instances, the positions held in the margin account are pledged as collateral security for the repayment of debit balances in the account. The margin accounts bear interest at a rate based upon the broker’s call rate from time to time in effect. Because other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein.
   
Item 4. PURPOSE OF TRANSACTION
   
  The Reporting Persons originally acquired the Common Stock reported herein for investment in the ordinary course of business because they believed that such shares of Common Stock, when purchased, were undervalued and represented an attractive investment opportunity.
   
 
In addition, the Reporting Persons and their representatives have, from time to time, engaged in discussions and correspondence with management and the Board regarding, among other things, the Issuer’s business, management and strategic alternatives and direction. The Reporting Persons intend to continue to discuss such matters with the Issuer's management and the Board as well as other stockholders of the Issuer and third parties and may take other steps seeking to bring about changes to increase shareholder value as well as pursue other plans or proposals that relate to or would result in any of the matters set forth in clauses (a)-(j) of Item 4 of Schedule 13D.
   
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 13 of  22 Pages
 
 
 
 Item 5. INTEREST IN SECURITIES OF THE ISSUER
   
  (a) and (b)
   
 
The Reporting Persons may be deemed to beneficially own in the aggregate 1,973,288 Common Shares. Based upon a total of 29,987,938 Common Shares outstanding as of January 24, 2015, as reported in the Issuer’s Annual Report on Form 10-K for the period ended December 27, 2014, filed with the Securities and Exchange Commission on February 24, 2015, the Reporting Persons’ shares represent approximately 6.63% of the outstanding Common Shares.
   
 
Carlson Capital, Asgard II, Asgard I and Mr. Carlson have the power to vote and direct the disposition of (i) the 1,314,215 Common Shares reported herein as owned by DOF, (ii) the 416,692 Common Shares reported herein as owned by ROF, (iii) the 76,594 Common Shares reported herein as owned by RVC, (iv) the 49,258 Common Shares reported herein as owned by OFF, (v) the 18,100 Common Shares reported herein as owned by SRI, (vi) the 11,501 Common Shares reported herein as owned by AOF and an additional 86,928 Common Shares held in the Accounts.
   
 
(c) Information concerning transactions in the Common Shares effected by the Reporting Persons during the past sixty days is set forth in Appendix B hereto and is incorporated herein by reference.
   
 
(d) Except as set forth herein, no person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividendg from, or the proceeds from the sale of, Common Shares.
   
   (e) Not applicable.
   
Item 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
   
   The Reporting Persons are parties to an agreement with respect to the joint filing of this Schedule 13D and any amendments thereto. A copy of such agreement is attached hereto as Exhibit 1 and is incorporated by reference herein.
   
 
Except as set forth herein, there are no contracts, understandings or relationships among the Reporting Persons or between the Reporting Persons and any other person with respect to the Common Shares.
   
Item 7. MATERIAL TO BE FILED AS EXHIBITS
   
 Exhibit Description
   
 1 Joint Filing Agreement, dated April 22, 2015.
   
  
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 14 of  22 Pages
 
 
 
 

SIGNATURES


After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
DATED: July 31, 2015

    DOUBLE BLACK DIAMOND OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND RELATIVE VALUE OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND RELATIVE VALUE CAYMAN, L.P.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
 
 
 
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 15 of 22 Pages
 
 
 
 
    BLACK DIAMOND SRI OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND ARBITRAGE OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 


 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 16 of 22 Pages
 
 
 
Appendix A
 
DIRECTORS AND EXECUTIVE OFFICERS OF ASGARD I AND ASGARD II
 
    The following sets forth the name, position and principal occupation of each director and executive officer of Asgard I and Asgard II, respectively. Except as otherwise indicated, the business address of each director and officer is 2100 McKinney Avenue, Suite 1800, Dallas, TX 75201. To the best of the Reporting Persons' knowledge, except as set forth in this Schedule 13D, none of the directors or executive officers of Asgard I or Asgard II owns any Common Shares.
Asgard I
      
       
Name
Position
Principal Occupation
Citizenship
       
Clint Carlson
Director/President
Investment Manager
United States
       
Nancy Carlson
Secretary/Treasurer
Executive
United States
       
Asgard II
      
       
Name
Position
Principal Occupation
Citizenship
       
Clint Carlson
Director/President
Investment Manager
United States
       
Nancy Carlson
Secretary/Treasurer
Executive
United States

 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 17 of  22 Pages
 
 
 
 

Appendix B
 
TRANSACTIONS IN THE ISSUER'S COMMON SHARES BY THE REPORTING PERSONS IN THE PAST
SIXTY DAYS
 
    The following tables set forth all transactions in the Common Shares effected by any of the Reporting Persons in the past sixty days, as applicable. All such transactions were effected in the open market through brokers and the price per share is net of commissions.
 
Black Diamond Arbitrage Offshore Ltd.
 
 
Type
Qty
Price
Net Amount
Trade Date
Buy
876.00
38.4913
33,744.66
5/6/2015
Buy
875.00
38.3275
33,571.56
5/6/2015
Buy
547.00
36.6224
20,037.93
7/30/2015
Buy
422.00
36.9606
15,598.86
7/30/2015
 
Double Black Diamond Offshore Ltd.


Type
Qty
Price
Net Amount
Trade Date
Buy
47,083.00
38.4913
1,813,698.37
5/6/2015
Buy
47,082.00
38.3275
1,806,418.64
5/6/2015
Buy
2,803.00
38.8782
108,985.40
5/7/2015
Buy
10,704.00
38.9916
417,473.13
5/7/2015
Buy
1,020.00
39.2164
40,010.93
5/7/2015
Buy
4,225.00
39.0879
165,167.02
5/7/2015
Buy
1,400.00
39.0879
54,729.90
5/7/2015
Buy
1,887.00
39.6501
74,826.34
5/8/2015
Buy
9,837.00
39.6831
390,657.77
5/8/2015
Buy
800.00
39.0966
31,281.97
5/13/2015
Buy
1,033.00
41.0697
42,430.30
5/21/2015
Buy
2,347.00
40.4087
94,853.44
5/27/2015
Buy
1,972.00
39.9601
78,811.17
5/29/2015
Buy
751.00
40.2647
30,243.32
6/3/2015
Buy
1,597.00
38.8913
62,117.17
6/16/2015
Buy
1,221.00
38.9734
47,592.47
6/19/2015
Buy
12,905.00
38.5
497,229.65
6/22/2015
Buy
13,989.00
38.8157
543,552.39
6/22/2015
Buy
1,200.00
39.0264
46,835.88
6/23/2015
Buy
1,221.00
37.84
46,206.91
6/29/2015
Buy
2,254.00
37.3509
84,196.82
6/30/2015
CoverShort
1,560.00
37.3849
58,327.73
7/2/2015
Buy
6,769.00
37.1411
251,431.80
7/7/2015
Buy
3,379.00
36.0933
121,993.05
7/30/2015
Buy
10,247.00
36.4857
374,278.85
7/30/2015
Buy
8,582.00
37.1387
318,754.36
7/30/2015
Buy
29,185.00
36.6224
1,069,116.59
7/30/2015
Buy
22,595.00
36.9606
835,203.84
7/30/2015

 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 18 of  22 Pages
 
 
 
 
 
MID

Type
Qty
Price
Net Amount
Trade Date
Buy
2,443.00
39.0879
95,503.68
5/7/2015
Buy
1,136.00
39.3821
44,743.66
5/8/2015
Buy
1,022.00
39.1886
40,056.76
5/11/2015
Buy
2,045.00
39.0004
79,762.98
6/23/2015
Buy
511.00
38.7485
19,802.27
6/25/2015
Buy
2,670.00
37.1332
99,154.99
7/7/2015

MII



Type
Qty
Price
Net Amount
Trade Date
Buy
1,857.00
39.0879
72,595.30
5/7/2015
Buy
864.00
39.3821
34,030.39
5/8/2015
Buy
778.00
39.1886
30,493.30
5/11/2015
Buy
1,555.00
39.0004
60,651.06
6/23/2015
Buy
389.00
38.7485
15,074.53
6/25/2015
Buy
2,030.00
37.1332
75,387.51
7/7/2015

 
Black Diamond Offshore Ltd.
 
Type
Qty
Price
Net Amount
Trade Date
Buy
1,687.00
38.4913
64,985.43
5/6/2015
Buy
1,688.00
38.3275
64,764.34
5/6/2015
Buy
107.00
38.8782
4,160.34
5/7/2015
Buy
404.00
38.9916
15,756.65
5/7/2015
Buy
39.00
39.2164
1,529.83
5/7/2015
Buy
160.00
39.0879
6,254.84
5/7/2015
Buy
71.00
39.6501
2,815.41
5/8/2015
Buy
373.00
39.6831
14,812.99
5/8/2015
Buy
39.00
41.0697
1,601.92
5/21/2015
Buy
89.00
40.4087
3,596.91
5/27/2015
Buy
75.00
39.9601
2,997.38
5/29/2015
Buy
29.00
40.2647
1,167.86
6/3/2015
Buy
60.00
38.8913
2,333.77
6/16/2015
Buy
46.00
38.9734
1,793.00
6/19/2015
Buy
489.00
38.5
18,841.17
6/22/2015
Buy
530.00
38.8157
20,593.52
6/22/2015
Buy
46.00
37.84
1,740.80
6/29/2015
Buy
85.00
37.3509
3,175.13
6/30/2015
Buy
256.00
37.1411
9,509.02
7/7/2015
Buy
129.00
36.0933
4,657.33
7/30/2015
Buy
388.00
36.4857
14,171.97
7/30/2015
Buy
324.00
37.1387
12,034.07
7/30/2015
Buy
1,046.00
36.6224
38,317.49
7/30/2015
Buy
810.00
36.9606
29,940.92
7/30/2015

 
 
 

CUSIP No.  92849E101
SCHEDULE 13D
Page 19 of 22 Pages
 
 
 

Black Diamond Relative Value Offshore Ltd.

Type
Qty
Price
Net Amount
Trade Date
Buy
2,128.00
38.8782
82,740.26
5/7/2015
Buy
8,125.00
38.9916
316,887.99
5/7/2015
Buy
773.00
39.2164
30,322.01
5/7/2015
Buy
6,800.00
39.0879
265,830.94
5/7/2015
Buy
1,431.00
39.6501
56,744.30
5/8/2015
Buy
7,468.00
39.6831
296,577.43
5/8/2015
Buy
1,900.00
39.3821
74,835.34
5/8/2015
Buy
1,800.00
39.1886
70,550.06
5/11/2015
Buy
900.00
41.0697
36,967.35
5/21/2015
Buy
900.00
40.4087
36,373.29
5/27/2015
Buy
800.00
39.9601
31,972.08
5/29/2015
Buy
1,000.00
39.1559
39,161.77
6/1/2015
Buy
800.00
39.2906
31,437.19
6/10/2015
Buy
9,544.00
38.5
367,730.32
6/22/2015
Buy
10,344.00
38.8157
401,923.36
6/22/2015
Buy
4,000.00
39.0045
156,032.00
6/23/2015
Buy
2,500.00
38.7264
96,824.75
6/25/2015
Buy
2,700.00
37.3411
100,830.42
6/30/2015
Buy
1,900.00
37.1525
70,596.40
7/7/2015
Buy
2,271.00
36.0933
81,990.59
7/30/2015
Buy
6,888.00
36.4857
251,589.02
7/30/2015
Buy
5,767.00
37.1387
214,199.07
7/30/2015

 
Black Diamond Relative Value Cayman, L.P.


Type
Qty
Price
Net Amount
Trade Date
Buy
386.00
38.8782
15,008.34
5/7/2015
Buy
1,475.00
38.9916
57,527.36
5/7/2015
Buy
141.00
39.2164
5,530.92
5/7/2015
Buy
1,200.00
39.0879
46,911.34
5/7/2015
Buy
259.00
39.6501
10,270.29
5/8/2015
Buy
1,356.00
39.6831
53,850.96
5/8/2015
Buy
300.00
39.3821
11,816.11
5/8/2015
Buy
300.00
39.1886
11,758.34
5/11/2015
Buy
300.00
40.4087
12,124.43
5/27/2015
Buy
300.00
39.0967
11,730.48
6/9/2015
Buy
1,716.00
38.5
66,117.48
6/22/2015
Buy
1,862.00
38.8157
72,349.31
6/22/2015
Buy
700.00
39.0365
27,328.00
6/23/2015
Buy
300.00
38.8447
11,654.46
6/25/2015
Buy
800.00
37.3537
29,885.76
6/30/2015
Buy
1,400.00
37.1626
52,032.54
7/7/2015
Buy
434.00
36.0933
15,668.83
7/30/2015
Buy
1,315.00
36.4858
48,031.43
7/30/2015
Buy
1,103.00
37.1387
40,967.85
7/30/2015

 
 
 

CUSIP No.  92849E101
SCHEDULE 13D
Page 20 of  22 Pages
 
 
 
 
Black Diamond SRI Offshore Ltd.
 


Type
Qty
Price
Net Amount
Trade Date
Buy
1,100.00
39.0879
43,002.06
5/7/2015
Buy
800.00
39.3821
31,509.62
5/8/2015
Buy
400.00
39.1886
15,677.79
5/11/2015
Buy
1,000.00
39.0251
39,028.60
6/23/2015
Buy
300.00
38.8219
11,647.62
6/25/2015
Buy
800.00
37.2255
29,783.20
7/7/2015
Buy
600.00
37.1933
22,318.08
7/7/2015

 
WTL
 
Type
Qty
Price
Net Amount
Trade Date
Buy
354.00
38.4913
13,636.54
5/6/2015
Buy
355.00
38.3275
13,620.46
5/6/2015
Buy
76.00
38.8782
2,955.01
5/7/2015
Buy
292.00
38.9916
11,388.47
5/7/2015
Buy
27.00
39.2164
1,059.11
5/7/2015
Buy
115.00
39.0879
4,495.67
5/7/2015
Buy
52.00
39.6501
2,061.98
5/8/2015
Buy
266.00
39.6831
10,563.68
5/8/2015
Buy
28.00
41.0697
1,150.09
5/21/2015
Buy
64.00
40.4087
2,586.55
5/27/2015
Buy
53.00
39.9601
2,118.14
5/29/2015
Buy
20.00
40.2647
805.41
6/3/2015
Buy
43.00
38.8913
1,672.53
6/16/2015
Buy
33.00
38.9734
1,286.28
6/19/2015
Buy
346.00
38.5
13,331.38
6/22/2015
Buy
375.00
38.8157
14,570.89
6/22/2015
Buy
33.00
37.84
1,248.84
6/29/2015
Buy
61.00
37.3509
2,278.61
6/30/2015
Buy
175.00
37.1411
6,500.30
7/7/2015
Buy
87.00
36.0933
3,140.99
7/30/2015
Buy
265.00
36.4857
9,679.31
7/30/2015
Buy
221.00
37.1387
8,208.42
7/30/2015
Buy
222.00
36.6224
8,132.39
7/30/2015
Buy
173.00
36.9606
6,394.79
7/30/2015

 
 
 
 
 
SCHEDULE 13D
Page 21 of  22 Pages
 
 
Exhibit 1
 
 
 
 JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)

    The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
 
DATE: July __, 2015

    DOUBLE BLACK DIAMOND OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND RELATIVE VALUE OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND RELATIVE VALUE CAYMAN, L.P.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
 
 
 
 
CUSIP No.  92849E101
SCHEDULE 13D
Page 22 of  22 Pages
 
 
 
 
    BLACK DIAMOND SRI OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President
 
 
    BLACK DIAMOND ARBITRAGE OFFSHORE LTD.
     
    By: Carlson Capital, L.P., its investment manager
     
    By: Asgard Investment Corp. II, its general partner
       
       
   
By:
 /s/ Clint D. Carlson
 
     
Name:       Clint D. Carlson  
     
Title:         President