-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RTEAgVOXneV4Ibu+O8ybdKpf20CMUSlG++kf1bE3bM3CnDpeIVpd1f3MNXiWuTyf YkplRYBnde6N9wkIxJq+xw== 0001144204-05-017686.txt : 20050611 0001144204-05-017686.hdr.sgml : 20050611 20050531165510 ACCESSION NUMBER: 0001144204-05-017686 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050531 DATE AS OF CHANGE: 20050531 GROUP MEMBERS: TPG-AXON CAPITAL MANAGEMENT, LP GROUP MEMBERS: TPG-AXON GP, LLC GROUP MEMBERS: TPG-AXON PARTNERS (OFFSHORE), LTD. GROUP MEMBERS: TPG-AXON PARTNERS GP, LP GROUP MEMBERS: TPG-AXON PARTNERS, LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: POLYCOM INC CENTRAL INDEX KEY: 0001010552 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 943128324 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-47513 FILM NUMBER: 05867963 BUSINESS ADDRESS: STREET 1: 4750 WILLOW ROAD CITY: PLEASANTON STATE: CA ZIP: 94588-2708 BUSINESS PHONE: 9259246000 MAIL ADDRESS: STREET 1: 4750 WILLOW RD CITY: PLEASANTON STATE: CA ZIP: 94588 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TPG-Axon Capital Management, LP CENTRAL INDEX KEY: 0001328562 IRS NUMBER: 201967305 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 888 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: (212) 479-2000 MAIL ADDRESS: STREET 1: 888 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 v019278_sc13g.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- SCHEDULE 13G UNDER THE SECURITIES ACT OF 1934 (AMENDMENT NO. __) POLYCOM, INC. ---------------- (Name of Issuer) COMMON STOCK, PAR VALUE $0.0005 PER SHARE ----------------------------------------- (Title of Class of Securities) 73172K104 -------------- (CUSIP Number) May 18, 2005 ------------------------------------ (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) |X| Rule 13d-1(c) |_| Rule 13d-1(d) The information required on 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 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. (Continued on following pages) (Page 1 of 14 Pages) - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 2 of 14 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon GP, LLC ("TPG-Axon") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 5,121,653 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 5,121,653 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,121,653 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- * All percentage ownerships reported in this Schedule 13G are based on 98,011,991 shares of Common Stock issued and outstanding as of April 15, 2005, as reported by the Issuer (as defined below) in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2005 filed with the Securities and Exchange Commission on April 29, 2005. - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 3 of 14 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners GP, LP ("PartnersGP") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 5,121,653 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 5,121,653 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,121,653 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 4 of 14 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners, LP ("Partners") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 5,121,653 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 5,121,653 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,121,653 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 5 of 14 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Capital Management, LP ("Capital Management") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 5,121,653 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 5,121,653 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,121,653 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 6 of 14 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners (Offshore), Ltd. ("Offshore") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 5,121,653 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 5,121,653 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,121,653 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 7 of 14 Pages - ------------------- ------------------ ITEM 1. (a) Name of Issuer: Polycom, Inc. (b) Address of Issuer's Principal Executive Offices: 4750 Willow Road Pleasanton, California 94588 ITEM 2. (a) Name of Person Filing: TPG-Axon, PartnersGP, Partners, Capital Management and Offshore. (b) Address of Principal Office: (All, except Offshore) Offshore. 888 Seventh Avenue c/o Goldman Sachs (Cayman) Trust Limited 38th Floor PO Box 896, Harbour Centre New York, New York 10019 George Town, Grand Cayman Cayman Islands, BWI (c) Citizenship: Delaware (all except Offshore); Offshore: Cayman Islands (d) Title of Class of Securities: Common Stock, par value $0.0005 per share (e) CUSIP Number: 73172K104 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A: (a) |_| Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) |_| Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c) (d) |_| Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) |_| An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E). (f) |_| An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F). - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 8 of 14 Pages - ------------------- ------------------ (g) |_| A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G). (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (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). (j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). ITEM 4. OWNERSHIP (a) Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. TPG-Axon is the general partner of PartnersGP and Capital Management. PartnersGP is the general partner of Partners. Capital Management, as investment manager, has the power to direct the disposition and voting of securities held by Offshore and Partners. Dinakar Singh LLC, a Delaware limited liability company ("DSLLC"), is the controlling manager of TPG-Axon and in such capacity may be deemed to be the beneficial owner of the securities held by Partners and Offshore, but disclaims any such beneficial ownership. Dinakar Singh, an individual, is the managing member of DSLLC and in such capacity may be deemed to be the beneficial owner of the securities held by Partners and Offshore, but disclaims any such beneficial ownership. The officers of TPG-Axon are Dinakar Singh (Co-President), Eric Mandelblatt (Co-President), John Viola (Vice President and Treasurer), Carl O'Connell (Vice President), Dianne Hurley (Vice President), David Spuria (Secretary) and Mary Lee (Assistant Secretary) and in such capacity may be deemed to be the beneficial owner of the securities held by Partners and Offshore, but disclaim any such beneficial ownership. (b) Percent of class: 5.2%* (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 5,121,653 - ------------------- ------------------ CUSIP NO. 73172K104 13 G Page 9 of 14 Pages - ------------------- ------------------ (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 5,121,653 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 person has 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 See Item 4. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable ITEM 9. NOTICE OF DISSOLUTION OF THE GROUP Not applicable ITEM 10. CERTIFICATION 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. - ------------------- ------------------- CUSIP NO. 73172K104 13 G Page 10 of 14 Pages - ------------------- ------------------- 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. Dated: May 31, 2005 Dinakar Singh LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Managing Member TPG-Axon GP, LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Capital Management, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners GP, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President - ------------------- ------------------- CUSIP NO. 73172K104 13 G Page 11 of 14 Pages - ------------------- ------------------- TPG-Axon Partners, LP By: TPG-Axon Partners GP, LP, general partner By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners (Offshore), Ltd. By: /s/ Dinakar Singh ---------------------- Dinakar Singh Director - ------------------- ------------------- CUSIP NO. 73172K104 13 G Page 12 of 14 Pages - ------------------- ------------------- LIST OF EXHIBITS TO SCHEDULE 13G Page ---- 1. Agreement to Make Joint Filing ......................................... 13 - ------------------- ------------------- CUSIP NO. 73172K104 13 G Page 13 of 14 Pages - ------------------- ------------------- EXHIBIT 1 AGREEMENT TO MAKE JOINT FILING Each of the undersigned acknowledges and agrees that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: May 31, 2005 Dinakar Singh LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Managing Member TPG-Axon GP, LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Capital Management, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President - ------------------- ------------------- CUSIP NO. 73172K104 13 G Page 14 of 14 Pages - ------------------- ------------------- TPG-Axon Partners GP, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners, LP By: TPG-Axon Partners GP, LP, general partner By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners (Offshore), Ltd. By: /s/ Dinakar Singh ---------------------- Dinakar Singh Director -----END PRIVACY-ENHANCED MESSAGE-----