-----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, O0JRx/70LcpRvo2v/yChGboeOhqyC6k2BJIRTyuiOsNuXbz5tZttE1eTHpGjV0zX Kn9PgXgWj7rsyHnDPKAMuQ== 0000902664-09-000166.txt : 20090122 0000902664-09-000166.hdr.sgml : 20090122 20090122165313 ACCESSION NUMBER: 0000902664-09-000166 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090122 DATE AS OF CHANGE: 20090122 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TOP IMAGE SYSTEMS LTD CENTRAL INDEX KEY: 0001021991 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-50128 FILM NUMBER: 09539657 BUSINESS ADDRESS: STREET 1: 2 HABARZEL ST CITY: TEL AVIV 69710 ISRA STATE: L3 ZIP: 00000 BUSINESS PHONE: 01197236487722 MAIL ADDRESS: STREET 1: C/O PROSKAUER ROSE LLP STREET 2: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036-8299 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SMITHFIELD FIDUCIARY LLC CENTRAL INDEX KEY: 0001141111 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: THE CAYMAN CORPORATE CENTRE, 4TH FLOOR STREET 2: 27 HOSPITAL ROAD CITY: GRAND CAYMAN STATE: E9 ZIP: 00000 BUSINESS PHONE: 3459451400 MAIL ADDRESS: STREET 1: P.O. BOX 30554 STREET 2: SEVEN MILE BEACH CITY: GRAND CAYMAN STATE: E9 ZIP: 00000 SC 13G/A 1 p09-0102sc13ga.txt TOP IMAGE SYSTEMS LTD. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 3)* Top Image Systems Ltd. (Name of Issuer) Ordinary Shares, nominal value NIS 0.04 per share (Title of Class of Securities) M87896102 (CUSIP Number) December 31, 2008 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) - ---------------- *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for 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 (however, see the Notes). Page 1 of 9 Pages CUSIP No. M87896102 13G/A Page 2 of 9 Pages - ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Smithfield Fiduciary LLC - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 0 OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] - ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% - ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) OO - ------------------------------------------------------------------------------- CUSIP No. M87896102 13G/A Page 3 of 9 Pages - ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge International LLC - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 243,274 Ordinary Shares OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] - ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.73% - ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) OO - ------------------------------------------------------------------------------- CUSIP No. M87896102 13G/A Page 4 of 9 Pages - ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Highbridge Capital Management, LLC - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 243,274 Ordinary Shares OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] - ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.73% - ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) OO - Limited Liability Company - ------------------------------------------------------------------------------- CUSIP No. M87896102 13G/A Page 5 of 9 Pages - ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Glenn Dubin - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 243,274 Ordinary Shares OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] - ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.73% - ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) IN - ------------------------------------------------------------------------------- CUSIP No. M87896102 13G/A Page 6 of 9 Pages - ------------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS Henry Swieca - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) [X] (b) [ ] - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES ---------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 243,274 Ordinary Shares OWNED BY ---------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING ---------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 243,274 Ordinary Shares - ------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) [ ] - ------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.73% - ------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (see instructions) IN - ------------------------------------------------------------------------------- CUSIP No. M87896102 13G/A Page 7 of 9 Pages This Amendment No. 3 (this "Amendment") amends the statement on Schedule 13G filed on March 13, 2006, as amended by Amendment No. 1 filed on February 13, 2007 and as further amended by Amendment No. 2 filed on January 24, 2008(the "Original Schedule 13G" and the Original Schedule 13G as amended, the "Schedule 13G") with respect to the ordinary shares, nominal value NIS 0.04 per share (the "Ordinary Shares") of Top Image Systems Inc., an Israeli corporation (the "Company"). Capitalized terms used herein and not otherwise defined in this Amendment have the meanings set forth in the Schedule 13G. This Amendment amends and restates Items 4 and 5 in their entirety as set forth below. Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: As of the date of this filing, (i) Smithfield Fiduciary LLC no longer beneficially owns any Ordinary Shares (ii) Highbridge International LLC beneficially owns 243,274 Ordinary Shares and (iii) each of Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca may be deemed the beneficial owner of the 243,274 Ordinary Shares owned by Highbridge International LLC. Smithfield Fiduciary LLC is a wholly-owned subsidiary of Highbridge International LLC. Highbridge Capital Management, LLC is the trading manager of Smithfield Fiduciary LLC and Highbridge International LLC. Glenn Dubin is the Chief Executive Officer of Highbridge Capital Management, LLC. Henry Swieca is a the Chief Investment Officer of Highbridge Capital Management, LLC. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of Ordinary Shares owned by another Reporting Person. In addition, each of Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca disclaims beneficial ownership of Ordinary Shares owned by Highbridge International LLC. (b) Percent of class: Based upon the Company's Annual Report on Form 20-F/A for the fiscal year ended December 31, 2007, the Company had 8,909,138 Ordinary Shares outstanding as of December 31, 2007. Therefore, based on the Company's outstanding Ordinary Shares, (i) Smithfield Fiduciary LLC does not own any Ordinary Shares of the Company and (ii) each of Highbridge International LLC, Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca may be deemed to beneficially own 2.73% of the outstanding Ordinary Shares of the Company. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of Ordinary Shares owned by another Reporting Person. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote CUSIP No. M87896102 13G/A Page 8 of 9 Pages See Item 4(a) (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of See Item 4(a) 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: [X] CUSIP No. M87896102 13G/A Page 9 of 9 Pages SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated: January 22, 2009 SMITHFIELD FIDUCIARY LLC HIGHBRIDGE INTERNATIONAL LLC By: Highbridge Capital Management, LLC By: Highbridge Capital Management, LLC Its Trading Manager Its Trading Manager By: /s/ John Oliva By: /s/ John Oliva - ----------------------- ------------------------ Name: John Oliva Name: John Oliva Title: Managing Director Title: Managing Director HIGHBRIDGE CAPITAL MANAGEMENT, LLC /s/ Henry Swieca By: /s/ John Oliva ------------------------- - ---------------------- HENRY SWIECA Name: John Oliva Title: Managing Director /s/ Glenn Dubin - --------------------- GLENN DUBIN -----END PRIVACY-ENHANCED MESSAGE-----