-----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, LVdsETzPuUHvqNwze89q3yjvo/vtADvOXZP1+LTJsffeF88QBCU1cObXIEr4qmjS W9udmQOn5pGtKQRaopo3mQ== 0000905718-09-000136.txt : 20090217 0000905718-09-000136.hdr.sgml : 20090216 20090217132604 ACCESSION NUMBER: 0000905718-09-000136 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090217 DATE AS OF CHANGE: 20090217 GROUP MEMBERS: G. STACY SMITH GROUP MEMBERS: PATRICK P. WALKER GROUP MEMBERS: REID S. WALKER GROUP MEMBERS: WS CAPITAL MANAGEMENT, L.P. GROUP MEMBERS: WS VENTURES MANAGEMENT, L.P. GROUP MEMBERS: WSV MANAGEMENT, L.L.C. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Solar Power, Inc. CENTRAL INDEX KEY: 0001210618 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 204956638 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78703 FILM NUMBER: 09609262 BUSINESS ADDRESS: STREET 1: 1115 ORLANDO AVENUE CITY: ROSEVILLE STATE: CA ZIP: 95661 BUSINESS PHONE: 916 745-0900 MAIL ADDRESS: STREET 1: 1115 ORLANDO AVENUE CITY: ROSEVILLE STATE: CA ZIP: 95661 FORMER COMPANY: FORMER CONFORMED NAME: WELUND FUND INC DATE OF NAME CHANGE: 20021216 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WS CAPITAL LLC CENTRAL INDEX KEY: 0001123407 IRS NUMBER: 752681594 STATE OF INCORPORATION: TX FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 2147566055 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 SC 13G/A 1 solar13gam2dec08.txt SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Amendment No. 2)* Under the Securities Exchange Act of 1934 SOLAR POWER, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.0001 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 83490A100 - -------------------------------------------------------------------------------- (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 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. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: WS Capital, L.L.C. I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Texas - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 1,129,816* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 1,129,816* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,129,816* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 3.0%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: HC/OO - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: WS Capital Management, L.P. I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Texas - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 1,129,816* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 1,129,816* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,129,816* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 3.0%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: IA/PN - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: WSV Management, L.L.C. I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Texas - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 1,061,884* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 1,061,884* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,061,884* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 2.8%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: HC/OO - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: WS Ventures Management, L.P. I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: Texas - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 1,061,884* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 1,061,884* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,061,884* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 2.8%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: IA/PN - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: Reid S. Walker I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 2,191,700* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 2,191,700* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,191,700* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 5.8%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: IN - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: G. Stacy Smith I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 2,191,700* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 2,191,700* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 2,191,700* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 5.8%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: IN - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. CUSIP No. 83490A100 - -------------------------------------------------------------------------------- (1) Names of Reporting Persons: Patrick P. Walker I.R.S. Identification Nos. of Above Persons (entities only): - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- (3) SEC Use Only - -------------------------------------------------------------------------------- (4) Citizenship or Place of Organization: United States - -------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person (5) Sole Voting Power: 0* -------------------------------------- (6) Shared Voting Power: 1,061,884* -------------------------------------- (7) Sole Dispositive Power: 0* -------------------------------------- (8) Shared Dispositive Power: 1,061,884* -------------------------------------- - -------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,061,884* - -------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - -------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9): 2.8%* - -------------------------------------------------------------------------------- (12) Type of Reporting Person: IN - -------------------------------------------------------------------------------- * Based on information set forth in the Form 10-Q of Solar Power, Inc. (the "Company") for the quarterly period ended September 30, 2008, as filed with the Securities and Exchange Commission on November 10, 2008, there were 37,771,325 shares of the Company's common stock, par value $0.0001 per share (the "Shares"), issued and outstanding as of November 7, 2008. As of December 31, 2008 (the "Reporting Date"), Walker Smith Capital, L.P. ("WSC"), Walker Smith Capital (Q.P.), L.P. ("WSCQP"), Walker Smith International Fund, Ltd. ("WS International") and HHMI Investments, L.P. ("HHMI," and collectively with WSC, WSCQP and WS International, the "WS Funds") held in the aggregate (i) 1,129,816 Shares and (ii) warrants to purchase 75,003 Shares. WS Capital Management, L.P. ("WSC Management") is the general partner of WSC and WSCQP, the agent and attorney-in-fact for WS International and the investment manager for HHMI. WS Capital, L.L.C. ("WS Capital") is the general partner of WSC Management. Reid S. Walker and G. Stacy Smith are members of WS Capital. As a result, WSC Management, WS Capital, and Messrs. Reid S. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WS Funds. In addition, as of the Reporting Date, Walker Smith Opportunity Fund, L.P. ("WSO") and Walker Smith Opportunity Fund (Q.P.), L.P. ("WSOQP," and together with WSO, the "WSO Funds") held in the aggregate (i) 1,061,884 Shares and (ii) warrants to purchase 69,234 Shares. WS Ventures Management, L.P. ("WSVM") is the general partner of the WSO Funds. WSV Management, L.L.C. ("WSV") is the general partner of WSVM. Reid S. Walker, Patrick P. Walker and G. Stacy Smith are members of WSV. As a result, WSVM, WSV, and Messrs. Reid S. Walker, Patrick P. Walker and G. Stacy Smith possess shared power to vote and direct the disposition of the securities of the Company held by the WSO Funds. The warrants held by the WS Funds and the WSO Funds contain an issuance limitation prohibiting the warrant holder from exercising those securities to the extent that such exercise would result in beneficial ownership by the warrant holder and its affiliates of more than 4.99% of the Shares then issued and outstanding (including for such purpose the Shares issuable upon exercise of the warrants) (the "4.99% Issuance Limitation"). The 4.99% Issuance Limitation may be waived by the warrant holder, at the election of the warrant holder, upon not less than 61 days' prior notice to the Company. Thus, as of the Reporting Date, for the purposes of Reg. Section 240.13d-3, (i) WSC Management and WS Capital are deemed to beneficially own 1,129,816 Shares, or approximately 3.0% of the Shares deemed issued and outstanding as of the Reporting Date; (ii) Messrs. Reid S. Walker and G. Stacy Smith are deemed to beneficially own 2,191,700 Shares, or approximately 5.8% of the Shares deemed issued and outstanding as of the Reporting Date; and (iii) WSV, WSVM and Mr. Patrick P. Walker are deemed to beneficially own 1,061,884 Shares, or approximately 2.8% of the Shares deemed issued and outstanding as of the Reporting Date. Each of the reporting persons hereby expressly disclaims membership in a "group" under Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder with respect to the Shares reported herein, and this Schedule 13G Amendment No. 2 shall not be deemed to be an admission that any such reporting person is a member of such a group. Item 1(a). Name of Issuer: SOLAR POWER, INC. Item 1(b). Address of Issuer's Principal Executive Offices: 1115 Orlando Avenue Roseville, CA 95661-5247 Item 2(a). Name of Person Filing: WS Capital, L.L.C. WS Capital Management, L.P. WSV Management, L.L.C. WS Ventures Management, L.P. Reid S. Walker G. Stacy Smith Patrick P. Walker Item 2(b). Address of Principal Business Office or, if none, Residence: 300 Crescent Court, Suite 1111 Dallas, Texas 75201 Item 2(c). Citizenship: WS Capital, L.L.C.: Texas WS Capital Management, L.P.: Texas WSV Management, L.L.C.: Texas WS Ventures Management, L.P.: Texas Reid S. Walker: United States G. Stacy Smith: United States Patrick P. Walker: United States Item 2(d). Title of Class of Securities: Common Stock, par value $0.0001 per share Item 2(e). CUSIP Number: 83490A100 Item 3. Not Applicable. Item 4. Ownership: (a) Amount Beneficially Owned: WS Capital, L.L.C. 1,129,816* WS Capital Management, L.P. 1,129,816* WSV Management, L.L.C. 1,061,884* WS Ventures Management, L.P. 1,061,884* Reid S. Walker 2,191,700* G. Stacy Smith 2,191,700* Patrick P. Walker 1,061,884* (b) Percent of Class: WS Capital, L.L.C. 3.0%* WS Capital Management, L.P. 3.0%* WSV Management, L.L.C. 2.8%* WS Ventures Management, L.P. 2.8%* Reid S. Walker 5.8%* G. Stacy Smith 5.8%* Patrick P. Walker 2.8%* (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: WS Capital, L.L.C. 0* WS Capital Management, L.P. 0* WSV Management, L.L.C. 0* WS Ventures Management, L.P. 0* Reid S. Walker 0* G. Stacy Smith 0* Patrick P. Walker 0* (ii) shared power to vote or to direct the vote: WS Capital, L.L.C. 1,129,816* WS Capital Management, L.P. 1,129,816* WSV Management, L.L.C. 1,061,884* WS Ventures Management, L.P. 1,061,884* Reid S. Walker 2,191,700* G. Stacy Smith 2,191,700* Patrick P. Walker 1,061,884* (iii) sole power to dispose or to direct the disposition of: WS Capital, L.L.C. 0* WS Capital Management, L.P. 0* WSV Management, L.L.C. 0* WS Ventures Management, L.P. 0* Reid S. Walker 0* G. Stacy Smith 0* Patrick P. Walker 0* (iv) shared power to dispose or to direct the disposition of: WS Capital, L.L.C. 1,129,816* WS Capital Management, L.P. 1,129,816* WSV Management, L.L.C. 1,061,884* WS Ventures Management, L.P. 1,061,884* Reid S. Walker 2,191,700* G. Stacy Smith 2,191,700* Patrick P. Walker 1,061,884* * See footnote to cover pages. Item 5. Ownership of Five Percent or Less of a Class: Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person: Not applicable. Item 7. Identification and Classification of Subsidiary Which Acquired the Securities: Not applicable. Item 8. Identification and Classification of Members of the Group: Not applicable. Item 9. Notice of Dissolution of 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. 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. February 17, 2009 WS CAPITAL, L.L.C. By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WS CAPITAL MANAGEMENT, L.P. By: WS Capital, L.L.C., its general partner By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WSV MANAGEMENT, L.L.C. By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WS VENTURES MANAGEMENT, L.P. By: WSV Management, L.L.C., its general partner By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member /s/ Reid S. Walker ----------------------------------------- REID S. WALKER /s/ G. Stacy Smith ----------------------------------------- G. STACY SMITH /s/ Patrick P. Walker ----------------------------------------- PATRICK P. WALKER Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) EXHIBIT 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them a Statement on Schedule 13G (including amendments thereto) with regard to the common stock of SOLAR POWER, INC. and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. In evidence thereof, the undersigned, being duly authorized, hereby execute this Joint Filing Agreement as of February 17, 2009. WS CAPITAL, L.L.C. By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WS CAPITAL MANAGEMENT, L.P. By: WS Capital, L.L.C., its general partner By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WSV MANAGEMENT, L.L.C. By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member WS VENTURES MANAGEMENT, L.P. By: WSV Management, L.L.C., its general partner By: /s/ Reid S. Walker --------------------------------------------- Reid S. Walker, Member /s/ Reid S. Walker ----------------------------------------- REID S. WALKER /s/ G. Stacy Smith ----------------------------------------- G. STACY SMITH /s/ Patrick P. Walker ----------------------------------------- PATRICK P. WALKER -----END PRIVACY-ENHANCED MESSAGE-----