# EDGAR Filing Document

**Accession Number:** 0001655183
**File Stem:** 0001104659-23-021594
**Filing Date:** 2023-2
**Character Count:** 13503
**Document Hash:** 9263b79133d6a4d9b5aefafbaead288b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-021594.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001104659-23-021594

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**GROUP MEMBERS**: JASON MUDRICK

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEE ENTERPRISES, Inc
- **CENTRAL INDEX KEY:** 0000058361
- **STANDARD INDUSTRIAL CLASSIFICATION:** NEWSPAPERS:  PUBLISHING OR PUBLISHING & PRINTING [2711]
- **IRS NUMBER:** 420823980
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0926

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-18297
- **FILM NUMBER:** 23629012

**BUSINESS ADDRESS:**
- **STREET 1:** 4600 E. 53RD STREET
- **CITY:** DAVENPORT
- **STATE:** IA
- **ZIP:** 52807
- **BUSINESS PHONE:** 5633832100

**MAIL ADDRESS:**
- **STREET 1:** 4600 E. 53RD STREET
- **CITY:** DAVENPORT
- **STATE:** IA
- **ZIP:** 52807

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEE ENTERPRISES, INC
- **DATE OF NAME CHANGE:** 20050610

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEE ENTERPRISES INC
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mudrick Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001655183
- **IRS NUMBER:** 270367034
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 527 MADISON AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (646) 747 9500

**MAIL ADDRESS:**
- **STREET 1:** 527 MADISON AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13G**

**(Amendment No. 2)**

**Under the Securities Exchange Act of 1934**

---

| |
|:---|
| **Lee Enterprises, Incorporated** |
| (Name of Issuer) |
| **Common Stock, $0.01 par value per share** |
| (Title of Class of Securities) |
| **523768109** |
| (CUSIP Number) |
| **December 31, 2022** |
| (Date of Event which Requires Filing of this Statement) |

---

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

◻ Rule 13d-1(b)

⌧ Rule 13d-1(c)

◻ Rule 13d-1(d)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CUSIP No. 523768109** | **CUSIP No. 523768109** | **CUSIP No. 523768109** | **13G** | |
| **1.** | NAMES OF REPORTING PERSONS<br> Mudrick Capital Management, L.P. | NAMES OF REPORTING PERSONS<br> Mudrick Capital Management, L.P. | NAMES OF REPORTING PERSONS<br> Mudrick Capital Management, L.P. | NAMES OF REPORTING PERSONS<br> Mudrick Capital Management, L.P. |
| **2.** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP\* | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP\* | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP\* | (a) ¨ |
|  |  |  |  | (b) x |
| **3.** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| **4.** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware | CITIZENSHIP OR PLACE OF ORGANIZATION<br> Delaware |
| NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **5.** | SOLE VOTING POWER | SOLE VOTING POWER |
| NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **6.** | SHARED VOTING POWER<br> 0 | SHARED VOTING POWER<br> 0 |
| NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **7.** | SOLE DISPOSITIVE POWER | SOLE DISPOSITIVE POWER |
| NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | NUMBER OF <br> SHARES<br> BENEFICIALLY<br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **8.** | SHARED DISPOSITIVE POWER<br> 0 | SHARED DISPOSITIVE POWER<br> 0 |
| **9.** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> 0 |
| **10.** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES\*<br>◻ | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES\*<br>◻ | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES\*<br>◻ | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES\*<br>◻ |
| **11.** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 0.0% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 0.0% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 0.0% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)<br> 0.0% |
| **12.** | TYPE OF REPORTING PERSON\*<br> IA | TYPE OF REPORTING PERSON\*<br> IA | TYPE OF REPORTING PERSON\*<br> IA | TYPE OF REPORTING PERSON\*<br> IA |

---

---

| | |
|:---|:---|
| **CUSIP No. 523768109** | **13G** |

---

---

| | | |
|:---|:---|:---|
| **1.** | NAMES OF REPORTING PERSONS<br> Jason Mudrick | NAMES OF REPORTING PERSONS<br> Jason Mudrick |
| **2.** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP\* | (a) ¨ |
| | | (b) ⌧ |
| **3.** | SEC USE ONLY | SEC USE ONLY |
| **4.** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> United States | CITIZENSHIP OR PLACE OF ORGANIZATION<br> United States |

---

---

| | | |
|:---|:---|:---|
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **5.** | SOLE VOTING POWER |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **6.** | SHARED VOTING POWER<br> 0 |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **7.** | SOLE DISPOSITIVE POWER |
| NUMBER OF <br> SHARES <br> BENEFICIALLY <br> OWNED BY <br> EACH REPORTING<br> PERSON WITH | **8.** | SHARED DISPOSITIVE POWER<br> 0 |

---

**9.** AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0

**10.** CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES<br>
 CERTAIN SHARES\* ◻

**11.** PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0%

**12.** TYPE OF REPORTING PERSON\*

**<u>Explanatory Note</u>:** This Amendment No. 2 to Schedule 13G is being filed solely for purposes of updating one of the signatories and to add an updated joint filer agreement filed herewith.

**Item 1(a). Name of Issuer:**

LEE ENTERPRISES, INCORPORATED ("Issuer")

**Item 1(b). Address of Issuer's Principal Executive Offices:**

201 N. Harrison Street, Suite 600

Davenport, IA 52801

**Item 2(a). Name of Person Filing:**

This Schedule 13G is jointly filed by Mudrick Capital Management, L.P. and Jason Mudrick (each a "Reporting Person" and collectively, the "Reporting Persons").

**Item 2(b). Address of Principal Business Office or, if None, Residence:**

The principal business address of Mudrick Capital Management, L.P. and Jason Mudrick is 527 Madison Avenue, 6<sup>th</sup> Floor, New York, NY 10022.

**Item 2(c). Citizenship:**

Please refer to Item 4 on each cover sheet for each Reporting Person.

**Item 2(d). Title of Class of Securities:**

Common Stock, $0.01 par value per share

**Item 2(e). CUSIP Number:**

523768109

**Item 3. If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ◻ Broker or dealer
 registered under Section 15 of the Act (15 U.S.C. 78o);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ◻ Bank as defined in Section
3(a)(6) of the Act (15 U.S.C. 78c);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) ◻ Insurance company as
defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) ◻ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) ◻ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) ◻ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) ◻ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) ◻ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) ◻ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) ◻ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

**Item 4. Ownership.**

Provide the following information regarding the aggregate number and percentage of the class of securities of issuer identified in Item 1.

---

| | |
|:---|:---|
| (a) | Amount beneficially owned: |
|  | Please refer to Item 9 on each cover sheet for each Reporting Person. |

---

(b) Percent of class:

Please refer to Item 11 on each cover sheet for each Reporting Person. The percentages herein are based on 5,977,315 shares of Common Stock of the Issuer outstanding as of July 31, 2022, as reported in the Issuer's Form 10-Q filed August 4, 2022.

---

| | |
|:---|:---|
| (c) | Number of shares as to which such person has: |
| (i) | Sole power to vote or to direct the vote: |
|  | Please refer to Item 5 on each cover sheet for each Reporting Person. |
| (ii) | Shared power to vote or to direct the vote: |
|  | Please refer to Item 6 on each cover sheet for each Reporting Person. |
| (iii) | Sole power to dispose or to direct the disposition of: |
|  | Please refer to Item 7 on each cover sheet for each Reporting Person. |
| (iv) | Shared power to dispose or to direct the disposition of: |
|  | Please refer to Item 8 on each cover sheet for each Reporting Person. |

---

**Item 5. Ownership of Five Percent or Less of a Class.**

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following. ☒

**Item 6. Ownership of More than Five Percent on Behalf of Another Person.**

None.

**Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.**

Not applicable.

**Item 8. Identification and Classification of Members of the Group.**

Not applicable.

**Item 9. Notice of Dissolution of Group.**

Not applicable.

**Item 10. Certifications.**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

**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.

---

| |
|:---|
| MUDRICK CAPITAL MANAGEMENT, L.P. |
| February 14, 2023 |
| (Date) |
| /s/ Jason Mudrick |
| (Signature) |
| Jason Mudrick, Sole Member |
| (Name/Title) |
| JASON MUDRICK |
| February 14, 2023 |
| (Date) |
| /s/ Jason Mudrick |
| (Signature) |

---

## Exhibit 99.1

**Exhibit 1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each of the undersigned hereby agrees that (i) a statement on Schedule 13G (including amendments thereto) with respect to Common Shares, par value $0.01 per share, of Lee Enterprises, Incorporated, a Delaware corporation, filed herewith shall be filed on behalf of each of the undersigned, and (ii) this Joint Filing Agreement shall be included as an exhibit to such joint filing, provided that, as provided by Section 13d-1(k)(ii) of the Exchange Act, no person shall be responsible for the completeness and accuracy of the information concerning the other person making the filing unless such person knows or has reason to believe such information is inaccurate.

This Joint Filing Agreement may be executed in any number of counterparts all of which together shall constitute one and the same instrument.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of this 14th day of February 2023.

---

| |
|:---|
| MUDRICK CAPITAL MANAGEMENT, L.P. |
| February 14, 2023 |
| (Date) |
| /s/ Jason Mudrick |
| (Signature) |
| Jason Mudrick, Sole Member |
| (Name/Title) |
| JASON MUDRICK |
| February 14, 2023 |
| (Date) |
| /s/ Jason Mudrick |
| (Signature) |

---