0001013594-13-000091.txt : 20130211 0001013594-13-000091.hdr.sgml : 20130211 20130211171550 ACCESSION NUMBER: 0001013594-13-000091 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130211 DATE AS OF CHANGE: 20130211 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SYCAMORE NETWORKS INC CENTRAL INDEX KEY: 0001092367 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 043410558 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-58421 FILM NUMBER: 13593195 BUSINESS ADDRESS: STREET 1: 220 MILL ROAD CITY: CHELMSFORD STATE: MA ZIP: 01824 BUSINESS PHONE: 9782502900 MAIL ADDRESS: STREET 1: 220 MILL ROAD CITY: CHELMSFORD STATE: MA ZIP: 01824 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BURLINGAME ASSET MANAGEMENT, LLC CENTRAL INDEX KEY: 0001353743 IRS NUMBER: 300164384 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1 MARKET STREET, SPEAR STREET TOWER STREET 2: SUITE 3750 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 415-835-3850 MAIL ADDRESS: STREET 1: 1 MARKET STREET, SPEAR STREET TOWER STREET 2: SUITE 3750 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: Burlingame Asset Management, LLC DATE OF NAME CHANGE: 20060217 SC 13D 1 sycamore13d-020813.htm FEBRUARY 8, 2013 sycamore13d-020813.htm
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

(Amendment No. ___)*
 
Sycamore Networks, Inc.
(Name of Issuer)

Common Stock, par value $0.001
(Title of Class of Securities)

871206405
(CUSIP Number)

Eric S. Wagner, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
(212) 986-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

February 1, 2013
(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-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 § 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 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).


 
 

 

1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
 
Burlingame Equity Investors Master Fund, LP
   
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
(a)    [x]
 
(b)    [ ]
   
3.
SEC USE ONLY
   
4.
SOURCE OF FUNDS*
 
WC
   
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)    [ ]
   
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
   
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
   
7.
SOLE VOTING POWER
 
0
   
8.
SHARED VOTING POWER
 
1,632,863
   
9.
SOLE DISPOSITIVE POWER
 
0
   
10.
SHARED DISPOSITIVE POWER
 
1,632,863
   
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
 
1,632,863
   
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*    [ ]
   
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.7%
   
14.
TYPE OF REPORTING PERSON*
 
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 
 

 


1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
 
Burlingame Equity Investors II, LP
   
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
(a)    [x]
 
(b)    [ ]
   
3.
SEC USE ONLY
   
4.
SOURCE OF FUNDS*
 
WC
   
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
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
 
0
   
8.
SHARED VOTING POWER
 
176,947
   
9.
SOLE DISPOSITIVE POWER
 
0
   
10.
SHARED DISPOSITIVE POWER
 
176,947
   
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
 
176,947
   
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*    [ ]
   
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
0.6%
   
14.
TYPE OF REPORTING PERSON*
 
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 
 

 


1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
 
Burlingame Asset Management, LLC
   
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
(a)    [x]
 
(b)    [ ]
   
3.
SEC USE ONLY
   
4.
SOURCE OF FUNDS*
 
OO
   
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
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
 
0
   
8.
SHARED VOTING POWER
 
1,809,810
   
9.
SOLE DISPOSITIVE POWER
 
0
   
10.
SHARED DISPOSITIVE POWER
 
1,809,810
   
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
 
1,809,810
   
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*    [ ]
   
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.3%
   
14.
TYPE OF REPORTING PERSON*
 
OO

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 
 

 


1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
   
 
Blair E. Sanford
   
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
(a)    [x]
 
(b)    [ ]
   
3.
SEC USE ONLY
   
4.
SOURCE OF FUNDS*
 
OO
   
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
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
 
0
   
8.
SHARED VOTING POWER
 
1,809,810
   
9.
SOLE DISPOSITIVE POWER
 
0
   
10.
SHARED DISPOSITIVE POWER
 
1,809,810
   
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
 
1,809,810
   
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES*    [ ]
   
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.3%
   
14.
TYPE OF REPORTING PERSON*
 
IN, HC

*SEE INSTRUCTIONS BEFORE FILLING OUT!

 
 

 

ITEM 1.Security and Issuer.

This statement relates to the shares of Common Stock, $.001 par value ("Common Stock"), of Sycamore Networks, Inc. (the "Issuer").  The Issuer's principal executive office is located at 220 Mill Road, Chelmsford, Massachusetts 01824.

ITEM 2. Identity and Background.

(a)-(c) and (f)The names of the persons filing this statement on Schedule 13D (collectively, the "Reporting Persons") are:

·  
Burlingame Equity Investors Master Fund, LP, a Cayman Islands exempted limited partnership ("Master Fund");

·  
Burlingame Equity Investors II, LP, a Delaware limited partnership (“Onshore Fund II”);

·  
Burlingame Asset Management, LLC, a Delaware limited liability company (“BAM”); and

·  
Blair E. Sanford, a citizen of the United States (“Mr. Sanford”).  

BAM is the general partner of each of the Master Fund and Onshore Fund II.  Mr. Sanford is the managing member of BAM.  BAM and Mr. Sanford may each be deemed to have voting and dispositive power with respect to the shares of Common Stock held by the Master Fund and Onshore Fund II.

The business address of each of the Onshore Fund II, BAM and Mr. Sanford is One Market Street, Spear Street Tower, Suite 3750, San Francisco, California 94105.

The business address of the Master Fund is c/o Appleby Trust (Cayman) Ltd., Clifton House, 75 Fort Street, P.O. Box 1350 GT, George Town, Grand Cayman, Cayman Islands.

The principal business of each of the Master Fund and Onshore Fund II is that of a private investment fund engaged in the purchase and sale of securities for its own account.

The principal business of BAM is serving as the general partner of each of the Master Fund and Onshore Fund II.

Mr. Sanford’s principal occupation is serving as the managing member of BAM.

(d)During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
 
 
 

 

ITEM 3.Source and Amount of Funds or Other Consideration.

The source and amount of funds used by the Master Fund in making its purchases of the shares of Common Stock beneficially owned it by the Reporting Persons are set forth below:
 
SOURCE OF FUNDS                                                     AMOUNT OF FUNDS
Working Capital                                                               $ 3,659,806
 
The source and amount of funds used by the Onshore Fund II in making its purchases of the shares of Common Stock beneficially owned by it are set forth below:

SOURCE OF FUNDS                                                     AMOUNT OF FUNDS
Working Capital                                                               $ 396,607
 
ITEM 4.Purpose of Transaction.

All of the shares of Common Stock reported herein as being beneficially owned by the Reporting Persons were acquired for investment purposes.  

The Reporting Persons reserve the right to acquire, or cause to be acquired, additional securities of the Issuer, to dispose of, or cause to be disposed, such securities at any time or to formulate any purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons, market conditions or other factors.  The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may engage in discussions with management, the Board of Directors of the Issuer, other stockholders of the Issuer and other relevant parties concerning any such purposes, plans or proposals, which may include discussions regarding the liquidation plan of the Issuer, including the treatment of the Issuer’s net operating losses.  

ITEM 5.Interest in Securities of the Issuer.

(a)      The Reporting Persons beneficially own:

(i) The Master Fund individually beneficially owns 1,632,863 shares of Common Stock representing 5.7% of all of the outstanding shares of Common Stock.    

(ii) The Onshore Fund II individually beneficially owns 176,947 shares of Common Stock representing 0.6% of all of the outstanding shares of Common Stock.  

(iii) BAM may be deemed to be the beneficial owner of the 1,809,810 shares of Common Stock beneficially owned by the Master Fund and Onshore Fund II representing 6.3% of all the outstanding shares of Common Stock.  

(iv) Mr. Sanford may be deemed to be the beneficial owner of the 1,809,810 shares of Common Stock beneficially owned by BAM representing 6.3% of all the outstanding shares of Common Stock.

(v) Collectively, the Reporting Persons beneficially own 1,809,810 shares of Common Stock representing 6.3% of all of the outstanding shares of Common Stock.    

(b)     The Master Fund, BAM and Mr. Sanford have shared power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,632,863 shares of Common Stock individually beneficially owned by the Master Fund.  
 
 
 
 

 

 
                The Onshore Fund II, BAM and Mr. Sanford have shared power to vote or direct the vote of, and to dispose or direct the disposition of, the 176,947 shares of Common Stock individually beneficially owned by the Onshore Fund II.  

(c)Transactions effected by the Reporting Persons during the past sixty (60) days are set forth on Schedule 1 attached hereto.
 
                (d)Not applicable.

(e)Not applicable.
 
  ITEM 6.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Not applicable.


  ITEM 7.
Material to be Filed as Exhibits.

Exhibit A - Joint Filing Agreement

Schedule 1 – Transactions of the Reporting Persons Effected During the Past 60 Days


 
 

 

SIGNATURES

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

Dated:   February 11, 2013

BURLINGAME EQUITY INVESTORS MASTER FUND, LP
By: Burlingame Asset Management, LLC, as General Partner


By:  /s/ Blair E. Sanford
                            Blair E. Sanford, Managing Member



BURLINGAME EQUITY INVESTORS II, LP
By: Burlingame Asset Management, LLC, as General Partner


By:  /s/ Blair E. Sanford
                            Blair E. Sanford, Managing Member

 

BURLINGAME ASSET MANAGEMENT, LLC


By:  /s/ Blair E. Sanford
            Blair E. Sanford, Managing Member


 
/s/ Blair E. Sanford
     Blair E. Sanford
 
 

 

 
 

 

EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13D with respect to the Common Stock of Sycamore Networks, Inc. dated as of February 11, 2013 is, and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated:   February 11, 2013

BURLINGAME EQUITY INVESTORS MASTER FUND, LP
By: Burlingame Asset Management, LLC, as General Partner


By:  /s/ Blair E. Sanford
                            Blair E. Sanford, Managing Member



BURLINGAME EQUITY INVESTORS II, LP
By: Burlingame Asset Management, LLC, as General Partner


By:  /s/ Blair E. Sanford
                            Blair E. Sanford, Managing Member

 

BURLINGAME ASSET MANAGEMENT, LLC


By:  /s/ Blair E. Sanford
            Blair E. Sanford, Managing Member


 
/s/ Blair E. Sanford
     Blair E. Sanford
 
 

 
 
 

 

SCHEDULE 1

Transactions of the Reporting Persons Effected
During the Past 60 Days

The following transactions were effected by Burlingame Equity Investors Master Fund, LP during the past sixty (60) days:


Date
Security
Amount of Shares
Bought (Sold)
Approx. price ($) per
Share ($)
(excl. commissions)
 
1/24/2013
Common Stock
          65,821
2.2352
1/25/2013
Common Stock
        139,774
2.2784
1/28/2013
Common Stock
          85,525
2.2708
1/29/2013
Common Stock
          76,901
2.2483
1/30/2013
Common Stock
          49,687
2.2727
1/31/2013
Common Stock
          48,945
2.2617
2/1/2013
Common Stock
      1,113,150
2.2345
2/4/2013
Common Stock
          53,060
2.1892


All of the above transactions were effected on the open market.


The following transactions were effected by Burlingame Equity Investors II, LP during the past sixty (60) days:


Date
Security
Amount of Shares
Bought (Sold)
Approx. price ($) per
Share ($)
(excl. commissions)
 
1/24/2013
Common Stock
            7,170
2.2352
1/25/2013
Common Stock
          15,226
2.2784
1/28/2013
Common Stock
            9,316
2.2708
1/29/2013
Common Stock
            8,377
2.2483
1/30/2013
Common Stock
            5,413
2.2727
1/31/2013
Common Stock
            5,332
2.2617
2/1/2013
Common Stock
        120,363
2.2345
2/4/2013
Common Stock
            5,750
2.1892


All of the above transactions were effected on the open market.