-----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, J2yrDEvFSXskjl9+O6rHU3j3iIzaz9vxutwK7oQX3ERRilqxtQ6O/v1xya+S++qt 1W3E0RXkE4M5GNZcdAhPGA== 0001162675-08-000058.txt : 20081107 0001162675-08-000058.hdr.sgml : 20081107 20081107151653 ACCESSION NUMBER: 0001162675-08-000058 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081107 DATE AS OF CHANGE: 20081107 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ARTISTDIRECT INC CENTRAL INDEX KEY: 0001095079 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 954644384 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-60557 FILM NUMBER: 081170956 BUSINESS ADDRESS: STREET 1: 1601 CLOVERFIELD BOULEVARD STREET 2: SUITE 400 SOUTH CITY: SANTA MONICA STATE: CA ZIP: 90404 BUSINESS PHONE: 3109563300 MAIL ADDRESS: STREET 1: 1601 CLOVERFIELD BOULEVARD STREET 2: SUITE 400 SOUTH CITY: SANTA MONICA STATE: CA ZIP: 90404 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: COGHILL CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001162675 IRS NUMBER: 364191886 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1 N WACKER DR STREET 2: STE 4350 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3123242000 MAIL ADDRESS: STREET 1: 1 N WACKER DR STREET 2: STE 4350 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13D/A 1 artd081107.txt ARTD 13D/A 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 2) ARTISTdirect Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 04315D400 - -------------------------------------------------------------------------------- (CUSIP Number) Clint Coghill Coghill Capital Management 1 N Wacker Dr. Ste. #4350 Chicago, IL 60606 312-324-2000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 6, 2008 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [x] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 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. 04315D400 13D PAGE 2 OF 8 - ------------------- ----------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). CCM Master Qualified Fund, Ltd.* 98-0363044 Coghill Capital Management, LLC.+* 36-4313801 Clint D. Coghill+* - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a)[ ] (b)[x] - -------- ----------------------------------------------------------------------- 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) [ ] - -------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CCM Master Qualified Fund, Ltd.* - Cayman Islands Coghill Capital Management, LLC.+* - Delaware, USA Clint D. Coghill+* - USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 NUMBER OF ------ ------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 0 OWNED BY EACH ------ ------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON 0 WITH ------ ------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------- ----------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CCM Master Qualified Fund, Ltd.* - CO Coghill Capital Management, LLC.+* - IA Clint D. Coghill+* - IN - -------------------------------------------------------------------------------- - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 3 OF 8 - ------------------- ----------- Schedule 13D Item 1. Security and Issuer. ------------------- This statement relates to the Common Stock, of ARTISTdirect, Inc. (the "Issuer"). The address of the Issuer's principal offices is: 1601 Cloverfield Blvd Suite 400 South Santa Monica, CA 90404 United States Item 2. Identity and Background. ----------------------- (a) The name of the reporting persons are: CCM Master Qualified Fund, Ltd*, Coghill Capital Management, LLC+*, and Clint D. Coghill+*. (b) The address of principal business office is: 1 N. Wacker Dr. Ste. #4350 Chicago, IL 60606 (c) Coghill Capital Management LLC+*, is an SEC registered investment advisor. (d) During the five years prior to the date hereof, CCM Master Qualified Fund, Ltd*, Coghill Capital Management, LLC+*, and or Clint D. Coghill+* have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the five years prior to the date hereof, CCM Master Qualified Fund, Ltd*, Coghill Capital Management, LLC+*, and or Clint D. Coghill+* have not been a party to a civil proceeding ending in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding a violation with respect to such laws. (f) Coghill Capital Management, LLC is incorporated in Delaware, USA. Item 3. Source and Amount of Funds or Other Consideration. ------------------------------------------------- Working Capital of CCM Master Qualified Fund, Ltd.* - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 4 OF 8 - ------------------- ----------- Item 4. Purpose of Transaction. ---------------------- As disclosed in our Schedule 13D/A filed on September 29, 2008, the Issuer and Capital Management, LLC, on behalf of itself and certain funds and accounts managed by it (collectively, "Coghill"), had agreed in a Letter of Intent to work in good faith with each other to negotiate the possible sale of certain assets of the Issuer (the "Transaction") on an exclusive basis. The Letter of Intent also provided for the payment of a break-up fee of $140,000 by the Issuer to Coghill in specified circumstances involving the failure to consummate the Transaction. The parties were unable to conclude a Transaction and Coghill received the break-up fee as provided for in the Letter of Intent. Coghill subsequently disposed of its beneficial ownership in the Issuer. The Reporting Persons have no plans or proposals as of the date of this filing which, other than as expressly set forth above, relate to, or would result in, any of the actions enumerated in clauses (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer. ------------------------------------ (a) CCM Master Qualified Fund, Ltd*, Coghill Capital Management, LLC+*, and Clint D. Coghill+* have beneficial ownership of 0 shares (0%). - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 5 OF 8 - ------------------- ----------- (b) Number of Shares as to which CCM Master Qualified Fund, Ltd*, Coghill Capital Management, LLC+*, and Clint D. Coghill+* have: (i) sole power to vote or to direct the vote: 0 shares of Common Stock. (ii) shared power to vote or to direct the vote: 0 shares of Common Stock (0%). (iii) sole power to dispose or to direct the disposition: 0 shares of Common Stock. (iv) shared power to dispose or to direct the disposition: 0 shares of Common Stock (0%). - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 6 OF 8 - ------------------- ----------- (c) Transaction occurring during the past sixty days: The following securities were aggregated and sold in a single transaction for total consideration of $100: 395,468 shares of common stock, 433,333 warrants to purchase common stock at $2 per share anytime prior to 7/28/2010, 691,935 warrants to purchase common stock at $1.43 per share anytime prior to 7/28/2010, and $12,380,000 par value subordinated convertible debt - 4% interest rate - convertible to shares of common stock at $1.55 per share anytime prior to 7/28/2009. (d) N/A (e) N/A Item 6. Contracts, Arrangements, Undertakings or Relationships with Respect ------------------------------------------------------------------- to Securities of the Issuer. --------------------------- On March 17, 2008, the Reporting Persons entered into a Forbearance and Consent Agreement (the "Forbearance Agreement") with the Company in connection with the Senior Debt Financing, which was effective as of February 20, 2008. Pursuant to Forbearance Agreement, the Reporting Persons have agreed to forbear from exercising any of their rights and remedies under the Senior Financing transaction documents through December 31, 2008 in exchange for an adjustment in the interest rate associated with the Senior Notes from 11.25% to 15%, provided the loan is repaid prior to September 30, 2008 or 16%, if the loan remains outstanding subsequent to that date. Item 7. Material to be Filed as Exhibits. -------------------------------- N/A Explanation of Responses: * The reporting persons disclaim beneficial ownership of the securities except to the extent of their pecuniary interest therein. + Principal of the investment manager or investment manager to the investment management entity in whose account the reported securities are held - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 7 OF 8 - ------------------- ----------- 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. Date: November 7, 2008 /S/ Clint D. Coghill+* - ---------------------------- Clint D. Coghill+* /S/ Coghill Capital Management, LLC+* - ---------------------------- Coghill Capital Management, LLC+* /S/ CCM Qualified Master Fund, Ltd.* - ---------------------------- CCM Qualified Master Fund, Ltd.* - ------------------- ----------- CUSIP NO. 04315D400 13D PAGE 8 OF 8 - ------------------- ----------- -----END PRIVACY-ENHANCED MESSAGE-----