-----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, MlFxpooiXKT+fWnDzKfrS5zsVwkVhG3J2NjAKBVn/FiSnWX7tS4VTHSKy5H6V25S PsNdVQjNE4mD3Sronbjwdg== 0001116502-03-001034.txt : 20030606 0001116502-03-001034.hdr.sgml : 20030606 20030606162524 ACCESSION NUMBER: 0001116502-03-001034 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030606 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SACC PARTNERS LP CENTRAL INDEX KEY: 0001123770 IRS NUMBER: 954799552 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 11150 SANTA MONICA BLVD STREET 2: STE 750 CITY: LOS ANGELES STATE: CA ZIP: 90025 MAIL ADDRESS: STREET 1: 11150 SANTA MONICA BLVD STE 750 CITY: LOS ANGELES STATE: CA ZIP: 90025 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LANTRONIX INC CENTRAL INDEX KEY: 0001114925 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 330362767 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-60979 FILM NUMBER: 03736089 BUSINESS ADDRESS: STREET 1: 15353 BARNANCA PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 9494533990 MAIL ADDRESS: STREET 1: 15353 BARNANCA PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 SC 13D/A 1 saac-sc13d.txt AMENDED SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------------- OMB APPROVAL --------------------------------- OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response.............11 SCHEDULE 13D/A (Amendment No. 3) Under the Securities and Exchange Act of 1934 (Amendment No. _____)* Lantronix, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 516548 10 4 - -------------------------------------------------------------------------------- (CUSIP Number) Tom Kelleher 11150 Santa Monica Blvd. Suite 750 Los Angeles, CA 90025 (310) 966-1444 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 28, 2003 - -------------------------------------------------------------------------------- (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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [_]. 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 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. 516548 10 4 13D Page 2 of 4 Pages ________________________________________________________________________________ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) SACC Partners LP; Riley Investment Management LLC; B. Riley & Co., Inc.; Bryant R. Riley ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC, PF ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] N/A ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 4,494,320 SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY OWNED BY -0- _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 4,494,320 PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH -0- ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,494,320 ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.07% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* PN, IA, BD, IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 516548 10 4 13D Page 3 of 4 Pages ________________________________________________________________________________ Item 1. Security and Issuer. Common Stock of Lantronix, Inc. 15353 Barranca Parkway Irvine, California 92618 ________________________________________________________________________________ Item 2. Identity and Background. (a) SACC Partners LP (a Delaware limited partnership) Riley Investment Management LLC (Delaware ltd. liab. co.) B. Riley & Co., Inc. (Delaware corporation) Bryant R. Riley (individual residing in California) (b) 11150 Santa Monica Boulevard, Suite 750 Los Angeles, CA 90025 (c) Mr. Riley owns all of the outstanding shares of B. Riley & Co., Inc. ("BRC"), an NASD member broker-dealer. Mr. Riley also manages and owns all of the outstanding membership interests of Riley Investment Management LLC ("RIM"), a California registered investment adviser. RIM is the investment adviser to and general partner of SACC Partners LP ("SACC"). They are all located at the address specified in (b) above. (d) None (e) None (f) United States ________________________________________________________________________________ Item 3. Source and Amount of Funds or Other Consideration. SACC's purchases were made with SACC partnership funds, BRC's purchases were made with BRC corporate funds and Mr. Riley's purchases were made with his own personal funds. ________________________________________________________________________________ Item 4. Purpose of Transaction. SACC, BRC and Mr. Riley acquired the issuer's shares for investment purposes. ________________________________________________________________________________ Item 5. Interest in Securities of the Issuer. (a) SACC owns 3,486,700 shares of Lantronix's common stock. Because RIM has sole voting and investment power over SACC's security holdings and Mr. Riley in his role as the sole manager of RIM controls RIM's voting and investment decisions, each of SACC, RIM and Mr. Riley may be deemed to have beneficial ownership of the 3,486,700 shares held by SACC, representing approximately 6.27% of Lantronix's common stock. BRC owns 402,201 shares of Lantronix's common stock. Because Mr. Riley has sole voting and investment power over BRC's security holdings, both BRC and Mr. Riley may be deemed to have beneficial ownership of the 402,201 shares of Lantronix's common stock, representing approximately 0.72% of Lantronix's common stock. Mr. Riley personally owns 605,419 shares of Lantronix's common stock, representing approximately 1.09% of Lantronix's common stock. To summarize, Mr. Riley may be deemed to beneficially own a total of 4,494,320 shares of Lantronix common stock (8.07%) through his relationships with SACC, RIM and BRC, as well as his personal holdings. (b) With respect to all of the shares that he holds and that are held by each of SACC and BRC, Mr. Riley has sole power to vote and dispose or direct the disposition of the shares. (c) Please see Exhibit A for Mr. Riley's, SACC's and BRC's transactions in Lantronix's shares in the past sixty (60) calendar days. (d) None (e) Not applicable ________________________________________________________________________________ Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. The relationships between Mr. Riley, SACC, RIM and BRC are described above under Item 2(c) above. There is no written agreement among the reporting parties regarding Lantronix's shares. ________________________________________________________________________________ Item 7. Material to be Filed as Exhibits. There are no written agreements amongst the parties relating to the filing of this joint acquisition statement, nor are there any written agreements, contracts, arrangements, understandings, plans or proposals relating to (1) the borrowing of funds to finance the acquisition of shares, (2) the acquisition of issuer control, liquidation, sale of assets, merger, or change in business or corporate structure or any matter disclosed under Item 4, or (3) the transfer or voting of securities, finder's fees, joint ventures, options, puts, calls, guarantees of loans, guarantees against loss or of profit, or the giving or withholding of any proxy. ________________________________________________________________________________ CUSIP No. 516548 10 4 13D Page 4 of 4 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. Date: May 28, 2003 SACC PARTNERS LP By: Riley Investment Management LLC, its General Partner By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley, President RILEY INVESTMENT MANAGEMENT LLC By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley, President B. RILEY & CO., INC. By: Bryant R. Riley -------------------------------- Bryant R. Riley, President /s/ Bryant R. Riley -------------------------------- Bryant R. Riley Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). EXHIBIT A - ------------------------------------------------------------------------------- Reporting Party Date # of Shares Price/Share Type and Manner - ------------------------------------------------------------------------------- SACC 4/22/03 75,000 0.4667 Brokered ----------------------------------------------------------- ----------------------------------------------------------- B. Riley & Co. 3/28/03 200 0.75 Brokered ----------------------------------------------------------- 3/28/03 5300 0.72 Brokered ----------------------------------------------------------- 3/31/03 100 0.77 Brokered ----------------------------------------------------------- 3/31/03 200 0.77 Brokered ----------------------------------------------------------- 3/31/03 400 0.77 Brokered ----------------------------------------------------------- 3/31/03 4300 0.77 Brokered ----------------------------------------------------------- 3/31/03 4774 0.75 Brokered ----------------------------------------------------------- 3/31/03 5000 0.75 Brokered ----------------------------------------------------------- 3/31/03 10000 0.77 Brokered ----------------------------------------------------------- 4/2/03 100 0.75 Brokered ----------------------------------------------------------- 4/2/03 400 0.78 Brokered ----------------------------------------------------------- 4/2/03 500 0.78 Brokered ----------------------------------------------------------- 4/2/03 1100 0.78 Brokered ----------------------------------------------------------- 4/2/03 2000 0.77 Brokered ----------------------------------------------------------- 4/3/03 300 0.75 Brokered ----------------------------------------------------------- 4/3/03 1200 0.75 Brokered ----------------------------------------------------------- 4/4/03 5200 0.75 Brokered ----------------------------------------------------------- 4/7/03 400 0.71 Brokered ----------------------------------------------------------- 4/7/03 10000 0.75 Brokered ----------------------------------------------------------- 4/8/03 200 0.71 Brokered ----------------------------------------------------------- 4/8/03 4600 0.71 Brokered ----------------------------------------------------------- 4/9/03 8900 0.71 Brokered ----------------------------------------------------------- 4/14/03 2200 0.71 Brokered ----------------------------------------------------------- 4/15/03 100 0.62 Brokered ----------------------------------------------------------- 4/15/03 100 0.65 Brokered ----------------------------------------------------------- 4/15/03 100 0.68 Brokered ----------------------------------------------------------- 4/15/03 500 0.71 Brokered ----------------------------------------------------------- 4/15/03 3700 0.71 Brokered ----------------------------------------------------------- 4/17/03 -25500 0.66 Brokered ----------------------------------------------------------- 4/17/03 100 0.62 Brokered ----------------------------------------------------------- 4/17/03 100 0.65 Brokered ----------------------------------------------------------- 4/17/03 350 0.65 Brokered ----------------------------------------------------------- 4/17/03 25100 0.65 Brokered ----------------------------------------------------------- 4/22/03 -75000 0.4667 Brokered ----------------------------------------------------------- 4/22/03 25000 0.5 Brokered ----------------------------------------------------------- 4/22/03 50000 0.45 Brokered ----------------------------------------------------------- 4/23/03 -100000 0.51 Brokered ----------------------------------------------------------- 4/23/03 1100 0.5 Brokered ----------------------------------------------------------- 4/23/03 33300 0.5 Brokered ----------------------------------------------------------- 4/24/03 -10300 0.5764 Brokered ----------------------------------------------------------- 4/24/03 100 0.55 Brokered ----------------------------------------------------------- 4/24/03 200 0.55 Brokered ----------------------------------------------------------- 4/24/03 600 0.5 Brokered ----------------------------------------------------------- 4/24/03 700 0.54 Brokered ----------------------------------------------------------- 4/24/03 1300 0.55 Brokered ----------------------------------------------------------- 4/24/03 7400 0.55 Brokered ----------------------------------------------------------- 4/25/03 5200 0.55 Brokered ----------------------------------------------------------- 4/28/03 300 0.55 Brokered ----------------------------------------------------------- 4/28/03 1600 0.55 Brokered ----------------------------------------------------------- 4/28/03 8500 0.55 Brokered ----------------------------------------------------------- 4/28/03 10000 0.55 Brokered ----------------------------------------------------------- 4/30/03 2900 0.55 Brokered ----------------------------------------------------------- 5/1/03 100 0.52 Brokered ----------------------------------------------------------- 5/1/03 200 0.55 Brokered ----------------------------------------------------------- 5/1/03 300 0.55 Brokered ----------------------------------------------------------- 5/1/03 7100 0.55 Brokered ----------------------------------------------------------- 5/2/03 500 0.55 Brokered ----------------------------------------------------------- 5/2/03 16000 0.55 Brokered ----------------------------------------------------------- 5/6/03 -25000 0.52 Brokered ----------------------------------------------------------- 5/6/03 -14000 0.53 Brokered ----------------------------------------------------------- 5/6/03 -8100 0.53 Brokered ----------------------------------------------------------- 5/6/03 200 0.51 Brokered ----------------------------------------------------------- 5/6/03 4030 0.53 Brokered ----------------------------------------------------------- 5/6/03 22000 0.52 Brokered ----------------------------------------------------------- 5/6/03 25000 0.45 Brokered ----------------------------------------------------------- 5/7/03 -16600 0.53 Brokered ----------------------------------------------------------- 5/7/03 -7000 0.54 Brokered ----------------------------------------------------------- 5/7/03 -5000 0.54 Brokered ----------------------------------------------------------- 5/7/03 -2200 0.53 Brokered ----------------------------------------------------------- 5/7/03 -1000 0.53 Brokered ----------------------------------------------------------- 5/7/03 -300 0.53 Brokered ----------------------------------------------------------- 5/7/03 100 0.51 Brokered ----------------------------------------------------------- 5/7/03 32000 0.5237 Brokered ----------------------------------------------------------- 5/8/03 -13700 0.5196 Brokered ----------------------------------------------------------- 5/8/03 -4500 0.53 Brokered ----------------------------------------------------------- 5/8/03 -1000 0.53 Brokered ----------------------------------------------------------- 5/8/03 500 0.51 Brokered ----------------------------------------------------------- 5/8/03 18700 0.5229 Brokered ----------------------------------------------------------- 5/9/03 -6800 0.51 Brokered ----------------------------------------------------------- 5/9/03 6800 0.51 Brokered ----------------------------------------------------------- 5/12/03 -400 0.6 Brokered ----------------------------------------------------------- 5/13/03 -26500 0.6 Brokered ----------------------------------------------------------- 5/13/03 -16000 0.6 Brokered ----------------------------------------------------------- 5/13/03 -5500 0.6 Brokered ----------------------------------------------------------- 5/13/03 -5500 0.6 Brokered ----------------------------------------------------------- 5/13/03 -100 0.6 Brokered ----------------------------------------------------------- 5/13/03 5000 0.58 Brokered ----------------------------------------------------------- 5/13/03 8000 0.6 Brokered ----------------------------------------------------------- 5/14/03 -58100 0.6 Brokered ----------------------------------------------------------- 5/14/03 -20000 0.59 Brokered ----------------------------------------------------------- 5/14/03 -15000 0.6 Brokered ----------------------------------------------------------- 5/14/03 -13000 0.6 Brokered ----------------------------------------------------------- 5/14/03 -5400 0.6 Brokered ----------------------------------------------------------- 5/14/03 -2000 0.6 Brokered ----------------------------------------------------------- 5/14/03 -1200 0.6 Brokered ----------------------------------------------------------- 5/14/03 -1000 0.6 Brokered ----------------------------------------------------------- 5/14/03 -400 0.6 Brokered ----------------------------------------------------------- 5/14/03 58000 0.5883 Brokered ----------------------------------------------------------- 5/15/03 -30000 0.6 Brokered ----------------------------------------------------------- 5/15/03 -5000 0.6 Brokered ----------------------------------------------------------- 5/15/03 -5000 0.65 Brokered ----------------------------------------------------------- 5/15/03 -3600 0.6 Brokered ----------------------------------------------------------- 5/15/03 -2700 0.65 Brokered ----------------------------------------------------------- 5/15/03 -1000 0.6 Brokered ----------------------------------------------------------- 5/15/03 -100 0.65 Brokered ----------------------------------------------------------- 5/16/03 -9800 0.73 Brokered ----------------------------------------------------------- 5/16/03 -8250 0.73 Brokered ----------------------------------------------------------- 5/16/03 -3000 0.75 Brokered ----------------------------------------------------------- 5/16/03 -3000 0.75 Brokered ----------------------------------------------------------- 5/16/03 -3000 0.73 Brokered ----------------------------------------------------------- 5/16/03 -3000 0.73 Brokered ----------------------------------------------------------- 5/16/03 -2400 0.77 Brokered ----------------------------------------------------------- 5/16/03 -2000 0.77 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.84 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.84 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.84 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.79 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.84 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.79 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.79 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.77 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.77 Brokered ----------------------------------------------------------- 5/16/03 -1000 0.71 Brokered ----------------------------------------------------------- 5/16/03 -900 0.73 Brokered ----------------------------------------------------------- 5/16/03 -800 0.75 Brokered ----------------------------------------------------------- 5/16/03 -600 0.73 Brokered ----------------------------------------------------------- 5/16/03 -600 0.73 Brokered ----------------------------------------------------------- 5/16/03 -500 0.75 Brokered ----------------------------------------------------------- 5/16/03 -400 0.84 Brokered ----------------------------------------------------------- 5/16/03 -400 0.84 Brokered ----------------------------------------------------------- 5/16/03 -300 0.73 Brokered ----------------------------------------------------------- 5/16/03 -100 0.79 Brokered ----------------------------------------------------------- 5/16/03 -100 0.8 Brokered ----------------------------------------------------------- 5/16/03 -100 0.8 Brokered ----------------------------------------------------------- 5/16/03 -100 0.81 Brokered ----------------------------------------------------------- 5/16/03 -100 0.77 Brokered ----------------------------------------------------------- 5/16/03 25000 0.742 Brokered ----------------------------------------------------------- 5/20/03 -40000 0.6342 Brokered ----------------------------------------------------------- 5/20/03 -400 0.66 Brokered ----------------------------------------------------------- 5/20/03 -100 0.64 Brokered ----------------------------------------------------------- 5/20/03 1000 0.63 Brokered ----------------------------------------------------------- 5/20/03 4841 0.63 Brokered ----------------------------------------------------------- 5/20/03 17200 0.6405 Brokered ----------------------------------------------------------- 5/20/03 17500 0.63 Brokered ----------------------------------------------------------- 5/21/03 -100 0.65 Brokered ----------------------------------------------------------- 5/21/03 100 0.55 Brokered ----------------------------------------------------------- 5/21/03 5000 0.58 Brokered ----------------------------------------------------------- 5/22/03 -25000 0.65 Brokered ----------------------------------------------------------- 5/22/03 -1099 0.65 Brokered ----------------------------------------------------------- 5/23/03 -25000 0.66 Brokered ----------------------------------------------------------- 5/23/03 -1600 0.68 Brokered ----------------------------------------------------------- 5/27/03 -12600 0.67 Brokered ----------------------------------------------------------- 5/27/03 -3000 0.69 Brokered ----------------------------------------------------------- 5/27/03 -2500 0.69 Brokered ----------------------------------------------------------- 5/27/03 3100 0.69 Brokered ----------------------------------------------------------- 5/28/03 -17300 0.69 Brokered ------------------------------------------------------------ 5/28/03 -1100 0.69 Brokered ------------------------------------------------------------ 5/28/03 2500 0.66 Brokered ------------------------------------------------------------ 5/28/03 7700 0.69 Brokered ------------------------------------------------------------ 5/29/03 -1025 0.69 Brokered ------------------------------------------------------------ 5/29/03 100 0.63 Brokered ------------------------------------------------------------ 5/30/03 -59000 0.6469 Brokered ------------------------------------------------------------ 5/30/03 2900 0.65 Brokered ------------------------------------------------------------ 5/30/03 4900 0.65 Brokered ------------------------------------------------------------ 5/30/03 5000 0.65 Brokered ------------------------------------------------------------ 5/30/03 7200 0.65 Brokered ------------------------------------------------------------ 5/30/03 9000 0.63 Brokered ------------------------------------------------------------ 5/30/03 10000 0.65 Brokered ------------------------------------------------------------ 5/30/03 20000 0.65 Brokered ------------------------------------------------------------ 6/3/03 -20000 0.66 Brokered ------------------------------------------------------------ 6/3/03 20000 0.66 Brokered ------------------------------------------------------------ Bryant Riley 5/15/03 -100,000 0.59 Brokered ----------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----