0000904454-11-000502.txt : 20110831 0000904454-11-000502.hdr.sgml : 20110831 20110831164808 ACCESSION NUMBER: 0000904454-11-000502 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110831 DATE AS OF CHANGE: 20110831 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Orange 21 Inc. CENTRAL INDEX KEY: 0000932372 STANDARD INDUSTRIAL CLASSIFICATION: OPHTHALMIC GOODS [3851] IRS NUMBER: 330580186 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80727 FILM NUMBER: 111068924 BUSINESS ADDRESS: STREET 1: 2070 LAS PALMAS DRIVE CITY: CARLSBAD STATE: CA ZIP: 92009 BUSINESS PHONE: (760) 804-8420 MAIL ADDRESS: STREET 1: 2070 LAS PALMAS DRIVE CITY: CARLSBAD STATE: CA ZIP: 92009 FORMER COMPANY: FORMER CONFORMED NAME: SPY OPTIC, INC DATE OF NAME CHANGE: 20040916 FORMER COMPANY: FORMER CONFORMED NAME: SPY OPTIC INC DATE OF NAME CHANGE: 19941103 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Costa Brava Partnership III LP CENTRAL INDEX KEY: 0001319959 IRS NUMBER: 043387028 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 420 BOYLSTON STREET CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 617-595-4400 MAIL ADDRESS: STREET 1: 420 BOYLSTON STREET CITY: BOSTON STATE: MA ZIP: 02116 SC 13D/A 1 s13da_083111-orange21.htm AMENDMENT 11 TO SCHED 13D FOR ORANGE 21 BY COSTA BRAVA PARTNERSHIP III Unassociated Document




SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
SCHEDULE 13D
(Amendment No. 11)*
Orange 21 Inc.
(Name of Issuer)
Common Stock, $0.0001 par value
(Title of Class of Securities)
685317109
(CUSIP Number)
 
 
Seth W. Hamot
Costa Brava Partnership III L.P.
222 Berkeley Street, 17th Floor
Boston, MA  02116
(617) 595-4400
Jeffrey R. Katz, Esq.
Ropes & Gray LLP
One International Place
Boston, MA  02110
(617) 951-7000
 
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
August 26, 2011
(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 which 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:  x

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-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. 685317109 Page 2 of 6 Pages


 
1.
 
NAME OF REPORTING PERSON:    Costa Brava Partnership III L.P.
 
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 04-3387028
 
 
2.
(a) o
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(b) o
 
3.
 
SEC USE ONLY
 
4.
 
SOURCE OF FUNDS
  WC
 
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS ISo
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
6.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
7.
 
SOLE VOTING POWER
7,264,321
 
8.
 
SHARED VOTING POWER
-0-
 
9.
 
SOLE DISPOSITIVE POWER
7,264,321
 
10.
 
SHARED DISPOSITIVE POWER
-0-
 
11.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,264,321 (1)
 
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDESo
CERTAIN SHARES
 
13.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
52.1%
 
14.
 
TYPE OF REPORTING PERSON*
PN

(1) Includes (i) 6,183,403 shares held directly by Costa Brava and (ii) 1,000,000 shares of Common Stock of the Issuer, issuable upon the exercise of conversion rights under a promissory note due December 2012 held by Costa Brava.  See Item 4 and Item 5 of this Schedule 13D.


 
 

 
CUSIP No. 685317109 Page 3 of 6 Pages



 
1.
 
NAME OF REPORTING PERSON:    Roark, Rearden & Hamot, LLC
 
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 10-0000708
 
 
2.
(a) o
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(b) o
 
3.
 
SEC USE ONLY
 
4.
 
SOURCE OF FUNDS
  WC
 
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS ISo
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
6.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
7.
 
SOLE VOTING POWER
7,264,321
 
8.
 
SHARED VOTING POWER
-0-
 
9.
 
SOLE DISPOSITIVE POWER
7,264,321
 
10.
 
SHARED DISPOSITIVE POWER
-0-
 
11.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,264,321
 
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDESo
CERTAIN SHARES
 
13.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
52.1%
 
14.
 
TYPE OF REPORTING PERSON
OO


 
 

 
CUSIP No. 685317109 Page 4 of 6 Pages



 
1.
 
NAME OF REPORTING PERSON:    Seth W. Hamot
 
 
 
2.
(a) o
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(b) o
 
3.
 
SEC USE ONLY
 
4.
 
SOURCE OF FUNDS
  WC
 
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS ISo
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
 
6.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
 
7.
 
SOLE VOTING POWER
7,264,321
 
8.
 
SHARED VOTING POWER
-0-
 
9.
 
SOLE DISPOSITIVE POWER
7,264,321
 
10.
 
SHARED DISPOSITIVE POWER
-0-
 
11.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,264,321 (2)
 
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDESo
CERTAIN SHARES
 
13.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
52.1%
 
14.
 
TYPE OF REPORTING PERSON
IN, HC

(2) Includes (i) 32,918 shares held directly by Mr. Hamot, (ii) 6,000 shares held in two trusts for the benefit of Mr. Hamot’s children and 12,000 shares held directly by Mr. Hamot's children and (iii) 30,000 shares issuable upon the exercise of stock options held by Mr. Hamot that are exercisable within sixty days from the date hereof .

 
 

 
CUSIP No. 685317109 Page 5 of 6 Pages

AMENDMENT NO. 11 TO SCHEDULE 13D

Reference is hereby made to the statement on Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on August 26, 2008, as amended by Amendment No. 1 thereto filed on November 24, 2008, Amendment No. 2 thereto filed on December 9, 2008, Amendment No. 3 thereto filed on December 12, 2008, Amendment No. 4 thereto 13D filed on January 23, 2009, Amendment No. 5 thereto filed on February 23, 2009, Amendment No. 6 thereto filed on December 9, 2009, Amendment No. 7 thereto filed on May 27, 2010, Amendment No. 8 thereto filed on June 22, 2010, Amendment No. 9 thereto filed on September 17, 2010 and Amendment No. 10 thereto filed on May 26, 2011 (as so amended, the “Schedule 13D”).  Terms defined in the Schedule 13D are used herein as so defined.

The following items of the Schedule 13D are hereby amended as follows:

 
Item 3.  Source and Amount of Funds or Other Consideration

The source of funds for Costa Brava’s prior purchase of the promissory note described in Item 4 and for the shares acquired in the open market purchases described in Item 5 was working capital set aside for the general purpose of investing.
 
 
Item 4.  Purpose of Transactions

In December 2010, the Issuer’s subsidiary, Orange 21 North America Inc., issued a $7.0 million promissory note (the “promissory note”) due December 31, 2012 to Costa Brava.  The terms of the promissory note include a conversion right whereby Costa Brava may convert up to $2,500,000 of the outstanding principal amount of the promissory note at any time into Common Shares at a conversion price of $2.25.
 
 
Item 5.  Interest in Securities of the Issuer.

(a)     The Reporting Persons are the beneficial owners of 7,264,321 shares of Common Stock, representing approximately 52.1% of the Common Stock outstanding.  This calculation is based on 12,901,414 shares of Common Stock outstanding as of August 8, 2011, as reported in the Issuer’s Quarterly Report on Form 10-Q for the period ended June 30, 2011, as filed with the Commission on August 15, 2011.
 
(c)     Since the Reporting Persons’ previous filing on 13D on May 26, 2011, Costa Brava has purchased shares of Common Stock of the Issuer as follows:
 
Date of Transaction
 Shares of Common  Stock Bought (Sold)
Price Per Share ($)
Type of Transaction
8/26/11
266,488
$1.60
Open Market
8/26/11
2,433
$1.60
Open Market
8/29/11
7,122
$1.72
Open Market
8/30/11
500
$1.80
Open Market

 
 

 
CUSIP No. 685317109 Page 6 of 6 Pages


Signature:


After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.


Dated:  August 31, 2011

 
COSTA BRAVA PARTNERSHIP III L.P.
 
 
By:
Roark, Rearden & Hamot, LLC, its General Partner
 
By:
/s/ Seth W. Hamot
   
Name:  Seth W. Hamot
Title:  President
 
ROARK, REARDEN & HAMOT, LLC
 
 
By:
/s/ Seth W. Hamot
   
Name:  Seth W. Hamot
Title:  President
 
SETH W. HAMOT
 
 
By:
/s/ Seth W. Hamot