MAGNACHIP SEMICONDUCTOR Corp — Director's Dealing 2011

Mar 10, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK: 0001325702
Period of Report: 2011-03-10

Reporting Person: Avenue Investments, L.P. (Director)
Reporting Person: Avenue CDP Global Opportunities Fund LP (Director)
Reporting Person: Avenue International Master, L.P. (Director, 10% Owner)
Reporting Person: AVENUE INTERNATIONAL, LTD. (10% Owner)
Reporting Person: Avenue International Master GenPar, Ltd. (10% Owner)
Reporting Person: Avenue Partners, LLC (10% Owner)
Reporting Person: LASRY MARC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	1458684	Direct
Common Stock, $0.01 par value	1482770	Direct
Common Stock, $0.01 par value	4375589	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants	$15.76	2014-11-09	Common Stock, $0.01 par value (23573)		Direct
Warrants	$15.76	2014-11-09	Common Stock, $0.01 par value (30315)		Direct
Warrants	$15.76	2014-11-09	Common Stock, $0.01 par value (70448)		Direct

Footnotes

F1: The persons reporting on this Form 3 (the "Reporting Persons") originally acquired common units and warrants exercisable to purchase common units in exchange for previously outstanding debt of subsidiaries of MagnaChip Semiconductor LLC held by the Reporting Persons and in connection with a rights offering of common units of MagnaChip Semiconductor LLC . Prior to the effectiveness of the registration statement on Form 8-A, MagnaChip Semiconductor LLC converted into MagnaChip Semiconductor Corporation (the "Issuer") and the Reporting Persons received shares of Common Stock, par value $0.01 (the "Common Stock"), and the warrants exercisable to purchase shares of Common Stock.

F2: The filing of this Form 3 shall not be construed as an admission that Avenue Global Opportunities GenPar, LLC ("Global GenPar"), Avenue International, Ltd. ("Avenue International"), Avenue International Master GenPar, Ltd. ("International GenPar"), Avenue Partners, LLC ("Avenue Partners"), Avenue Capital Management II, L.P. ("Avenue Capital Management"), Avenue Capital Management II GenPar, LLC ("Avenue Capital Management GenPar") or Marc Lasry (collectively, the "Controlling Persons") is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the Common Stock of the Issuer directly held by Avenue Investments, L.P. ("Avenue Investments"), Avenue-CDP Global Opportunities Fund, L.P. ("Avenue-CDP") and Avenue International Master, L.P. ("Avenue International Master"). Pursuant to Rule 16a-1, the Controlling Persons disclaim such beneficial ownership except to the extent of their pecuniary interest therein.

F3: Avenue Investments holds directly 1,458,684 shares of Common Stock of the Issuer. Avenue Partners serves as the general partner of Avenue Investments. Avenue Partners holds indirectly the 1,458,684 shares of Common Stock of the Issuer held directly by Avenue Investments. Avenue Partners has a direct performance-based allocation from Avenue Investments. Mr. Lasry owns an interest in Avenue Partners and receives a portion of the profits allocation related to Avenue Investments.

F4: Avenue-CDP holds directly 1,482,770 shares of Common Stock of the Issuer. Global GenPar serves as the general partner of Avenue-CDP. Global GenPar holds indirectly the 1,482,770 shares of Common Stock of the Issuer held directly by Avenue-CDP. Global GenPar has a direct performance-based allocation from Avenue-CDP. Mr. Lasry owns an interest in Global GenPar and receives a portion of the profits allocation related to Avenue-CDP.

F5: Avenue International Master holds directly 4,375,589 shares of Common Stock of the Issuer. Avenue International is the sole limited partner of Avenue International Master, International GenPar serves as the general partner of Avenue International Master and Avenue Partners is the sole shareholder of International GenPar. Each of Avenue International, International GenPar and Avenue Partners holds indirectly the 4,375,589 shares of Common Stock of the Issuer held directly by Avenue International Master. International GenPar has a direct performance-based allocation from Avenue International Master, and Avenue Partners, as the sole shareholder of International GenPar, has an indirect interest in such allocation. Mr. Lasry owns an interest in International GenPar and Avenue Partners and receives a portion of the profits allocation related to Avenue International Master.

F6: Avenue Investments holds directly warrants exercisable to purchase 23,573 shares of Common Stock of the Issuer. Avenue Partners serves as the general partner of Avenue Investments. Avenue Partners holds indirectly the warrants exercisable to purchase 23,573 shares of Common Stock of the Issuer held directly by Avenue Investments. Avenue Partners has a direct performance-based allocation from Avenue Investments. Mr. Lasry owns an interest in Avenue Partners and receives a portion of the profits allocation related to Avenue Investments.

F7: Avenue-CDP holds directly warrants exercisable to purchase 30,315 shares of Common Stock of the Issuer. Global GenPar serves as the general partner of Avenue-CDP. Global GenPar holds indirectly the warrants exercisable to purchase 30,315 shares of Common Stock of the Issuer held directly by Avenue-CDP. Global GenPar has a direct performance-based allocation from Avenue-CDP. Mr. Lasry owns an interest in Global GenPar and receives a portion of the profits allocation related to Avenue-CDP.

F8: Avenue International Master holds directly warrants exercisable to purchase 70,448 shares of Common Stock of the Issuer. Avenue International is the sole limited partner of Avenue International Master, International GenPar serves as the general partner of Avenue International Master and Avenue Partners is the sole shareholder of International GenPar. Each of Avenue International, International GenPar and Avenue Partners holds indirectly the warrants exercisable to purchase 70,448 shares of Common Stock of the Issuer held directly by Avenue International Master. International GenPar has a direct performance-based allocation from Avenue International Master, and Avenue Partners, as the sole shareholder of International GenPar, has an indirect interest in such allocation. Mr. Lasry owns an interest in International GenPar and Avenue Partners and receives a portion of the profits allocation related to Avenue International Master.