Vanadium Capital Management, LLC, an event-driven investment fund established in 2007, is the investment manager of Vanadium Capital, LP (the “Partnership”), which, regardless of market environment, seeks to achieve consistent and absolute returns by investing long and short in financial instruments whereby the underlying value is misperceived by the marketplace and there also exists an appropriate risk-adjusted return. The Partnership focuses on situations involving financial and operational distress and near-term catalysts including, but not limited to: financial distress, bankruptcy, corporate malfeasance, merger arbitrage, investor activism (whether initiated by the Partnership or any other investor), and/or other corporate events (spin-offs, leveraged recaps, etc.).  The Partnership believes that these situations often provide the opportunity to achieve significant risk-adjusted returns due to the complexity involved in analyzing the company’s legal, financial, operational, and situational risk.  Additionally, there often exist statutory rules and/or other external pressures (e.g., risk limits, asset category restraints, etc.) that force many holders to exit positions below fair market value. The Partnership aims to invest in situations that are not correlated with the broader market and, when necessary, to utilize hedging to maintain market neutrality.