-----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, NjCoWvTO4msq58S9YuxaSg+tHWAAUxdkOPC0w/stSKwsv7/FLtsUEwYdomSmYsaw iZ+mhntIfe5+sv+lB298yg== 0000905718-96-000313.txt : 19961209 0000905718-96-000313.hdr.sgml : 19961209 ACCESSION NUMBER: 0000905718-96-000313 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961206 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WHX CORP CENTRAL INDEX KEY: 0000106618 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 133768097 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-18593 FILM NUMBER: 96677136 BUSINESS ADDRESS: STREET 1: 110 EAST 59TH ST CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2123555200 MAIL ADDRESS: STREET 1: 1134 MARKET STREET CITY: WHEELING STATE: WV ZIP: 26003 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING PITTSBURGH CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING PITTSBURGH STEEL CORP DATE OF NAME CHANGE: 19910130 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING STEEL CORP DATE OF NAME CHANGE: 19690202 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ROTH MICHAEL CENTRAL INDEX KEY: 0001010207 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 10556 N PORT WASHINGTON RD CITY: MEQUON STATE: WI ZIP: 53092 BUSINESS PHONE: 4142411810 MAIL ADDRESS: STREET 1: 10556 N PORT WASHINGTON RD CITY: MEQUON STATE: WI ZIP: 53092 SC 13D 1 SCHEDULE 13D FOR WHX SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 SCHEDULE l3D Under the Securities Exchange Act of 1934 (Amendment No. __)* WHX CORPORATION - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 133768097 - -------------------------------------------------------------------------------- (CUSIP Number) with a copy to: Krista L. Ward George J. Mazin Stark Investments Lowenstein, Sandler, Kohl, 150 West Market Street Fisher & Boylan, P.A. Mequon, WI 53092 65 Livingston Avenue (414) 241-1810 Roseland, New Jersey 07068 (201) 992-8700 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 12, 1996 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule l3G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule l3d-1(a) for other parties to whom copies are to be sent. *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 disclosures provided in a prior cover page. 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 (however, see the Notes). - -------------------------------------------------------------------------------- CUSIP NO. 133768097 - -------------------------------------------------------------------------------- 1) Names of Reporting Persons (S.S. or I.R.S. Identification Nos. of Above Persons): Michael A. Roth and Brian J. Stark (filing as joint filers pursuant to Rule 13(d)1(f)(1)) - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions): (a) Not (b) Applicable - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions):WC - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e): Not Applicable - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization: Wisconsin - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power: 0 ------------------------------------------------------ Shares Beneficially 8) Shared Voting Power: 1,875,632* ------------------------------------------------------ Owned by Each Reporting 9) Sole Dispositive Power: 0 ------------------------------------------------------ Person With: 10) Shared Dispositive Power: 1,875,632* ------------------------------------------------------ - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,875,632* - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): Not Applicable - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11): 6.78* - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions): IN - -------------------------------------------------------------------------------- * Includes 1,506,136 Shares beneficially owned by Reliant Trading upon the conversion of 527,297 Shares of preferred stock and 369,496 Shares beneficially onwed by Shepherd Trading Limited upon the conversion of 132,203 Shares of preferred stock. See Item 2 and Item 5 for additional details. Item 1: Security and Issuer: This statement relates to the Common Stock of WHX Corporation ("Shares"). The issuer has principal executive offices located at 110 East 59th Street, New York, New York 10022. Item 2: Identity and Background 1. a) Name: Brian J. Stark b) Residence or Business Address: 1500 West Market Street Mequon, WI 53092 c) Occupation: Investment Fund Manager Staro Asset Management, L.L.C., Stark & Roth, Inc., Staro Partners 1500 West Market Street Mequon, WI 53092 d) Convictions: none e) Civil Proceedings: none f) Citizenship: United States 2. a) Name: Michael A. Roth b) Residence or Business Address: 1500 West Market Street Mequon, WI 53092 c) Occupation: Investment Fund Manager Staro Asset Management, L.L.C., Stark & Roth, Inc., Staro Partners 1500 West Market Street Mequon, WI 53092 d) Convictions: none e) Civil Proceedings: none f) Citizenship: United States 3. a) Name: Staro Partners b) State of Organization: Wisconsin c) Principal Business: Securities Trading d) Address of principal business: 1500 West Market Street Mequon, WI 53092 e) Address of Principal Office: same f) Convictions: none g) Civil proceedings: none 4. a) Name: Reliant Trading b) State of Organization: Wisconsin c) Principal Business: Securities Trading d) Address of principal business: 1500 West Market Street Mequon, WI 53092 e) Address of Principal Office: same f) Convictions: none g) Civil proceedings: none 5. a) Name: Shepherd Trading Limited b) State of Organization: British Virgin Islands c) Principal Business: Securities Trading Address of principal business: c/o International Fund Administration, Ltd. 48 Par-La Ville Road, Suite 464 Hamilton, HM 11 Bermuda d) Address of Principal Office: same e) Convictions: none f) Civil proceedings: none Item 3: Source and Amount of Funds or Other Consideration All funds used by Reliant Trading to purchase Shares acquired by Reliant Trading, upon the conversion of the Issuer's preferred stock, were obtained from the capital contributed by the limited partners of Stark Investments, L.P. and general margin financing to Reliant Trading from brokers. The amount of funds used in making the purchases was $22,573,367. The funds used by Shepherd Trading Limited to purchase the Shares acquired by Shepherd Trading Limited, upon the conversion of Issuer's preferred stock, were obtained from the capital contributed by the shareholders of Shepherd Fund Limited. The amount of funds used in making the purchase was $5,484,190. Item 4: Purpose of Transaction The acquisition of the Shares by Reliant Trading and by Shepherd Trading Limited are solely for investment purposes. Further acquisitions, sales or short sales of securities of the Issuer may be made for investment purposes, however, neither reporting person has present plans or intentions which relate to or would result in any of the transactions required to be described in Item 4 of Schedule 13D. Item 5: Interest in Securities of the Issuer Based upon the information contained in WHX Corporation's quarterly report on Form 10-Q for the quarterly period ending September 30, 1996, there were issued and outstanding 25,769,800 Shares. Messrs. Stark and Roth beneficially own 1,875,632 Shares or 5.39% of the Shares. 1,506,136 of such Shares are held by Reliant Trading. Messrs. Stark and Roth have shared power to vote or direct the vote and shared power to dispose or direct the disposition of the 1,506,136 Shares by virtue of their position as members of STARO ASSET MANAGEMENT, L.L.C., the managing partner of Reliant Trading. 369,496 Shares are held by Shepherd Trading Limited. Messrs. Stark and Roth have shared power to vote or direct the vote and shared power to dispose or direct the disposition of the 369,496 Shares by virtue of their position as investment manager of Shepherd Trading Limited. The following Table details the transactions by Reliant Trading and Shepherd Trading Limited and Staro Partners in securities of WHX Corporation during the past 60 days: Shepherd Trading Limited Date Quantity Price Transaction Type 9/12/96 9,700 42.50 Open Mkt. Purchase 9/12/96 47,123 41.75 Open Mkt. Purchase 9/12/96 165,300 10.37 Open Mkt. Sale 8/15/96 1,000 41.75 Open Mkt. Purchase 9/19/96 301 40.12 Open Mkt. Purchase 10/3/96 1,250 40.37 Open Mkt. Purchase 10/4/96 227 40.25 Open Mkt. Purchase 10/10/96 492 40.12 Open Mkt. Purchase 10/10/96 175 40.12 Open Mkt. Purchase 10/11/96 159 40.25 Open Mkt. Purchase 10/11/96 100 40.00 Open Mkt. Purchase 10/14/96 208 40.00 Open Mkt. Purchase 10/15/96 208 39.75 Open Mkt. Purchase 10/15/96 100 39.50 Open Mkt. Purchase 10/16/96 3,000 39.50 Open Mkt. Purchase 10/16/96 6,000 9.12 Open Mkt. Sale 10/16/96 116 39.50 Open Mkt. Purchase 10/21/96 200 39.25 Open Mkt. Purchase 10/21/96 212 38.25 Open Mkt. Purchase 10/22/96 212 39.00 Open Mkt. Purchase 10/22/96 154 38.50 Open Mkt. Purchase 10/23/96 192 38.62 Open Mkt. Purchase 10/24/96 211 38.62 Open Mkt. Purchase 10/24/96 211 38.75 Open Mkt. Purchase 10/25/96 265 38.62 Open Mkt. Purchase 10/28/96 600 38.62 Open Mkt. Purchase 10/30/96 1,247 38.37 Open Mkt. Purchase 10/30/96 400 38.37 Open Mkt. Purchase 10/30/96 1,439 40.00 Open Mkt. Sale 10/30/96 1,957 40.25 Open Mkt. Sale 11/5/96 211 38.25 Open Mkt. Purchase 11/5/96 480 38.37 Open Mkt. Purchase 11/6/96 200 38.25 Open Mkt. Purchase 11/6/96 960 8.50 Open Mkt. Sale 11/7/96 250 38.25 Open Mkt. Purchase 11/8/96 1,250 37.75 Open Mkt. Purchase 11/8/96 650 38.00 Open Mkt. Purchase 11/8/96 1,250 37.25 Open Mkt. Purchase 11/8/96 650 37.75 Open Mkt. Purchase 11/8/96 650 38.00 Open Mkt. Purchase 11/11/96 950 37.25 Open Mkt. Purchase 11/11/96 3,150 37.75 Open Mkt. Purchase 11/11/96 4,250 7.87 Open Mkt. Sale 11/11/96 1,250 7.87 Open Mkt. Sale 11/12/96 2,500 8.12 Open Mkt. Sale 11/12/96 250 37.25 Open Mkt. Purchase 11/13/96 1,002 8.25 Open Mkt. Sale 11/13/96 6,442 8.75 Open Mkt. Sale Reliant Trading Date Quantity Price Open Mkt. Purchase 10/3/96 1299 40.12 Open Mkt. Purchase 10/4/96 1250 40.37 Open Mkt. Purchase 10/10/96 973 40.25 Open Mkt. Purchase 10/10/96 2108 40.12 Open Mkt. Purchase 10/11/96 925 40.12 Open Mkt. Purchase 10/11/96 841 40.25 Open Mkt. Purchase 10/14/96 300 40.00 Open Mkt. Purchase 10/15/96 892 40.00 Open Mkt. Purchase 10/15/96 892 39.75 Open Mkt. Purchase 10/16/96 300 39.50 Open Mkt. Purchase 10/16/96 3000 39.50 Open Mkt. Purchase 10/16/96 6000 9.12 Open Mkt. Sale 10/18/96 300 39.50 Open Mkt. Purchase 10/21/96 584 39.50 Open Mkt. Purchase 10/21/96 800 39.25 Open Mkt. Purchase 10/21/96 100 39.50 Open Mkt. Purchase 10/22/96 888 38.75 Open Mkt. Purchase 10/22/96 888 39.00 Open Mkt. Purchase 10/23/96 646 38.50 Open Mkt. Purchase 10/23/96 808 38.62 Open Mkt. Purchase 10/24/96 889 38.62 Open Mkt. Purchase 10/24/96 889 38.75 Open Mkt. Purchase 10/25/96 1335 38.62 Open Mkt. Purchase 10/28/96 2500 38.62 Open Mkt. Purchase 10/29/96 400 38.62 Open Mkt. Purchase 10/30/96 5253 38.37 Open Mkt. Purchase 10/30/96 1700 38.50 Open Mkt. Purchase 10/30/96 6061 40.00 Open Mkt. Sale 10/30/96 8243 40.25 Open Mkt. Sale 11/5/96 889 38.25 Open Mkt. Purchase 11/5/96 2020 38.37 Open Mkt. Purchase 11/6/96 4040 8.50 Open Mkt. Sale 11/7/96 1050 38.25 Open Mkt. Purchase 11/8/96 1250 37.75 Open Mkt. Purchase 11/8/96 650 38.00 Open Mkt. Purchase 11/8/96 1250 37.25 Open Mkt. Purchase 11/8/96 650 37.75 Open Mkt. Purchase 11/8/96 650 38.00 Open Mkt. Purchase 11/11/96 950 37.25 Open Mkt. Purchase 11/11/96 3150 37.75 Open Mkt. Purchase 11/11/96 4250 7.87 Open Mkt. Sale 11/11/96 1250 7.87 Open Mkt. Sale 11/12/96 250 37.25 Open Mkt. Purchase 11/12/96 2500 8.12 Open Mkt. Sale 11/13/96 3998 8.25 Open Mkt. Sale 11/15/96 3578 8.75 Open Mkt. Sale No other entity controlled by the reporting persons has traded WHX Corporation securities within the past 60 days. Item 6: Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. See Item 2. Item 7: Material to be filed as exhibits. Exhibit 1: Agreement as to joint filing. EXHIBIT 1 AGREEMENT AS TO JOINT FILING Dated December 6, 1996 The undersigned hereby agree that the Schedule 13D with respect to WHX Corporation dated as of the date hereof is filed on behalf of each of the undersigned jointly pursuant to Rule 13d-1(f)(1). /s/Brian J. Stark ______________________________ Brian J. Stark /s/Michael A. Roth _______________________________ Michael A. Roth SIGNATURE After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. December 6, 1996 /s/Brian J. Stark _______________________________ Brian J. Stark /s/ Michael A. Roth _______________________________ Michael A. Roth ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C.1001). -----END PRIVACY-ENHANCED MESSAGE-----