PINX:WAVE Insider Activity 3 Filing - 8/1/2012

Effective Date 8/1/2012

FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Polygon Management Ltd.
2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2012
3. Issuer Name and Ticker or Trading Symbol
NextWave Wireless Inc. [WAVE]
(Last)
(First)
(Middle)
399 PARK AVENUE, 22ND FLOOR
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

NEW YORK, NY 10022
6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 2,500,000
I
See Footnote(1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Third Lien Subordinated Secured Convertible Note due 2013   (2) 02/28/2013 Common Stock 680,052(3) $77.35 I See Footnote(4)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Polygon Management Ltd.
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Polygon Recovery Fund GP
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Polygon Recovery Fund L.P.
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Polygon Recovery Manager LP
PO BOX 309, UGLAND HOUSE
GRAND CAYMAN, E9 KY1-1104
    X    
Polygon Management L.P.
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Polygon Equities Partners LLP
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Polygon Global Partners LP
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022
    X    
Reade E. Griffith
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY
    X   Non-Voting Board Observer
Patrick G. G. Dear
C/O POLYGON INVESTMENT PARTNERS LLP
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY
    X    

Signatures

POLYGON MANAGEMENT LTD. By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

POLYGON RECOVERY FUND GP By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

POLYGON RECOVERY FUND L.P. By: Polygon Recovery Fund GP, its general partner; By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

POLYGON RECOVERY MANAGER LP By: Polygon Management Ltd., its general partner By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

POLYGON MANAGEMENT L.P. By: Polygon Management Ltd., its general partner By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

POLYGON GLOBAL PARTNERS LLP By: /s/ Reade E. Griffith, Principal 08/10/2012
** Signature of Reporting Person Date

POLYGON GLOBAL PARTNERS LP By: Polygon Management Ltd., its general partner By: /s/ Reade E. Griffith, Director 08/10/2012
** Signature of Reporting Person Date

/s/ Reade E. Griffith 08/10/2012
** Signature of Reporting Person Date

/s/ Patrick G. G. Dear 08/10/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This Form 3 is filed on behalf of Polygon Management Ltd., Polygon Recovery Fund GP, Polygon Recovery Fund L.P., Polygon Recovery Manager LP, Polygon Management L.P., Polygon Global Partners LLP, Polygon Global Partners LP, Reade E. Griffith and Patrick G.G. Dear. The shares are held directly by Polygon Recovery Fund L.P.
(2) Pursuant to the terms of the Third Lien Subordinated Convertible Secured Note due 2013 (the "Note"), the holder thereof may exercise its right to convert all or any portion of the principal amount of the Note into shares of Common Stock of the Issuer at any time or from time to time.
(3) The number of shares represents the outstanding principal amount of the Note, divided by the conversion price per share of $77.35. This number together with the number of shares of Common Stock of the Issuer reported in Table I represents 12.4% of the outstanding Common Stock of the Issuer on the basis of 25,618,184 shares of common stock as calculated in accordance with Rule 13d-3(d)(1) of the Exchange Act (comprised of 24,938,132 shares of common stock outstanding on May 2, 2012, together with the 680,052 shares of common stock underlying the Note).
(4) The Third Lien Subordinated Convertible Secured Note due 2013 is held directly by Polygon Recovery Fund L.P.
 
Remarks:
Pursuant to rights granted under the Third Lien Subordinated Exchange Note Exchange Agreement, dated as of October 9, 2008, among NextWave Wireless Inc. (the "Issuer"), NextWave Wireless LLC, the guarantors named therein and the purchasers party thereto (the "Exchange Agreement"), a majority in interest of the Designating Holders (as defined in the Exchange Agreement) effective June 5, 2012 appointed Reade E. Griffith to succeed former Polygon employees as a non-voting board observer to attend and participate in the Issuer's board meetings, subject to limitations set forth in the Exchange Agreement, including the right of the Issuer to exclude the non-voting board observer from discussions not related to the Issuer's radio spectrum assets, which collateralize the Third Lien Subordinated Secured Convertible Notes Due 2013 (the "Third Lien Notes").  The Reporting Persons are the beneficial owners of approximately 7% of the outstanding Third Lien Notes and 26% of the outstanding Third Lien Notes held by the Designating Holders.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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PINX:WAVE Insider Activity 3 Filling

PINX:WAVE Stock - Get Insider Activity SEC Filing of PINX:WAVE stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

PINX:WAVE Insider Activity 3 Filing - 8/1/2012
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