0001193125-11-201001.txt : 20110728 0001193125-11-201001.hdr.sgml : 20110728 20110728170005 ACCESSION NUMBER: 0001193125-11-201001 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110728 DATE AS OF CHANGE: 20110728 GROUP MEMBERS: DOUGLAS A. HIRSH GROUP MEMBERS: SENECA CAPITAL ADVISORS, LLC GROUP MEMBERS: SENECA CAPITAL INTERNATIONAL GP, LLC GROUP MEMBERS: SENECA CAPITAL INTERNATIONAL MASTER FUND, L.P. GROUP MEMBERS: SENECA CAPITAL INVESTMENTS, L.P. GROUP MEMBERS: SENECA CAPITAL, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DYNEGY INC. CENTRAL INDEX KEY: 0001379895 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 205653152 STATE OF INCORPORATION: DE FISCAL YEAR END: 0101 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-83671 FILM NUMBER: 11994394 BUSINESS ADDRESS: STREET 1: 1000 LOUISIANA STREET, SUITE 5800 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: (713) 507-6400 MAIL ADDRESS: STREET 1: 1000 LOUISIANA STREET, SUITE 5800 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: Dynegy Inc.. DATE OF NAME CHANGE: 20070404 FORMER COMPANY: FORMER CONFORMED NAME: Dynegy Acquisition, Inc.. DATE OF NAME CHANGE: 20070403 FORMER COMPANY: FORMER CONFORMED NAME: Dynegy Acquisition, Inc. DATE OF NAME CHANGE: 20061102 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Seneca Capital Investments, LLC CENTRAL INDEX KEY: 0001337020 IRS NUMBER: 133928660 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 590 MADISON AVENUE STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-888-2999 MAIL ADDRESS: STREET 1: 590 MADISON AVENUE STREET 2: 28TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 dsc13da.htm SCHEDULE 13D, AMENDMENT NO. 14 Schedule 13D, Amendment No. 14

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 14)*

 

 

DYNEGY INC.

(Name of issuer)

 

 

Common Stock, par value $0.01 per share

(Title of class of securities)

26817G300

(CUSIP number)

Michael R. Anastasio, Jr.

c/o Seneca Capital Investments, LP

590 Madison Avenue, 28th Floor

New York, New York 10022

212-888-2999

(Name, address and telephone number of person authorized to receive notices and communications)

July 14, 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 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 (“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. 26817G300

 

  

Page 2 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital International Master Fund, L.P.

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    WC

  5.  

Check 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 shares

     8.   

Shared voting power

 

    6,512,100 shares (See Item 5)

     9.   

Sole dispositive power**

 

    0 shares

   10.   

Shared dispositive power

 

    6,512,100 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    6,512,100 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    5.3% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Partnership)

 


 

CUSIP No. 26817G300

 

  

Page 3 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital, L.P.

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    WC

  5.  

Check 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 shares

     8.   

Shared voting power

 

    4,714,400 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    4,714,400 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    4,714,400 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    3.9% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Partnership)

 


 

CUSIP No. 26817G300

 

  

Page 4 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital Investments, L.P.

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    AF

  5.  

Check 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 shares

     8.   

Shared voting power

 

    11,226,500 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    11,226,500 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    11,226,500 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    9.2% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Partnership)

 


 

CUSIP No. 26817G300

 

  

Page 5 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital Investments, LLC

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    AF

  5.  

Check 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 shares

     8.   

Shared voting power

 

    11,226,500 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    11,226,500 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    11,226,500 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    9.2% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Liability Company)

 


 

CUSIP No. 26817G300

 

  

Page 6 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital International GP, LLC

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    AF

  5.  

Check 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 shares

     8.   

Shared voting power

 

    6,512,100 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    6,512,100 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    6,512,100 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    5.3% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Liability Company)

 


 

CUSIP No. 26817G300

 

  

Page 7 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Seneca Capital Advisors, LLC

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    AF

  5.  

Check 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 shares

     8.   

Shared voting power

 

    4,714,400 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    4,714,400 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    4,714,400 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    3.9% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    OO (Limited Liability Company)

 


 

CUSIP No. 26817G300

 

  

Page 8 of 10

 

  1.   

Names of reporting persons.

I.R.S. Identification nos. of above persons (entities only).

 

Douglas A. Hirsch

  2.  

Check the appropriate box if a member of a group

(a)  ¨        (b)  ¨

 

  3.  

SEC use only

 

  4.  

Source of funds

 

    AF

  5.  

Check 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 shares

     8.   

Shared voting power

 

    11,226,500 shares (See Item 5)

     9.   

Sole dispositive power

 

    0 shares

   10.   

Shared dispositive power

 

    11,226,500 shares (See Item 5)

11.

 

Aggregate amount beneficially owned by each reporting person

 

    11,226,500 shares (See Item 5)

12.

 

Check if the aggregate amount in Row (11) excludes certain shares  ¨

 

13.

 

Percent of class represented by amount in Row (11)

 

    9.2% (See Item 5)

14.

 

Type of reporting person (see instructions)

 

    IN


CUSIP No. 26817G300   Page 9 of 10

Introduction

This Amendment No. 14 (“Amendment No. 14”) amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on October 7, 2010, as amended by Amendment No. 1 thereto filed with the SEC on October 21, 2010, by Amendment No. 2 thereto filed with the SEC on November 2, 2010, by Amendment No. 3 thereto filed with the SEC on November 8, 2010, by Amendment No. 4 thereto filed with the SEC on November 16, 2010, by Amendment No. 5 thereto filed with the SEC on November 22, 2010, by Amendment No. 6 thereto filed with the SEC on December 20, 2010, by Amendment No. 7 thereto filed with the SEC on January 4, 2011, by Amendment No. 8 thereto filed with the SEC on January 21, 2011, by Amendment No. 9 thereto filed with the SEC on January 26, 2011, by Amendment No. 10 thereto filed with the SEC on January 27, 2011, by Amendment No. 11 thereto filed with the SEC on February 10, 2011, by Amendment No. 12 thereto filed with the SEC on February 16, 2011 , and by Amendment No. 13 thereto filed with the SEC on March 30, 2011 (such Schedule 13D, as amended, the “Schedule 13D”) on behalf of (i) Seneca Capital International Master Fund, L.P., a Cayman Islands exempted limited partnership (“International Fund”), (ii) Seneca Capital, L.P., a Delaware limited partnership (“U.S. Fund”), (iii) Seneca Capital Investments, L.P., a Delaware limited partnership (“Seneca LP”), (iv) Seneca Capital Investments, LLC, a Delaware limited liability company (“Seneca LLC”), (v) Seneca Capital International GP, LLC, a Delaware limited liability company (“Seneca International GP”), (vi) Seneca Capital Advisors, LLC, a Delaware limited liability company (“Seneca Advisors”), and (vii) Douglas A. Hirsch (together with each of the foregoing, the “Reporting Persons” or “Seneca Capital”), with respect to shares of Common Stock, par value $0.01 per share (“Common Stock”), of Dynegy Inc., a Delaware corporation (the “Issuer”), beneficially owned by the Reporting Persons (the “Shares”). Capitalized terms used and not otherwise defined in this Amendment No. 14 shall have the meanings previously ascribed thereto in the Schedule 13D.

Amendment No. 14 is filed to amend Items 5 and 6 of the Schedule 13D as set forth below.

 

Item 5. Interests in Securities of the Issuer

Item 5 is hereby amended to add the following information:

The collective number of shares beneficially owned, and options held, by the Reporting Persons has not changed since the date of the last Schedule 13D filing. Any changes in the allocation of holdings of the Issuer among each Reporting Person is due solely to an ordinary course internal share rebalancing transaction on May 11, 2011 at a price of $5.865 per share (the market price at the time of the rebalance) and an ordinary course internal option rebalancing transaction at the time of the roll transaction described in Item 6 below, which rebalance occurred at a price of $6.14 per option (the market price at the time of the rebalance).

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issue

Item 6 is hereby amended to add the following information:

On July 14, 2011, International Fund and U.S. Fund extended the exercise date of the European-style call options held by them, which following an ordinary course internal option rebalance at the time of the roll transaction provide the right to purchase 2,009,900 and 1,381,100 shares of Common Stock, respectively, at an exercise price of $0.01 per share, by engaging in a simultaneous roll transaction in which the options expiring as of September 16, 2011 were relinquished in the same transaction as and simultaneously with their replacement with the same number of options with the same economic terms expiring as of June 16, 2012. Such options are not exercisable within sixty days of the filing date of this Amendment No. 14, and therefore the shares of Common Stock to which they relate are not currently deemed beneficially owned by the Reporting Persons.


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.

July 28, 2011

 

SENECA CAPITAL INTERNATIONAL
MASTER FUND, L.P.
By:   Seneca Capital International GP, LLC,
  Its General Partner
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
SENECA CAPITAL, L.P.
By:   Seneca Capital Advisors, LLC,
  Its General Partner
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
SENECA CAPITAL INVESTMENTS, L.P.
By:   Seneca Capital Investments, LLC,
  its General Partner
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
SENECA CAPITAL INVESTMENTS, LLC
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
SENECA CAPITAL INTERNATIONAL GP, LLC
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
SENECA CAPITAL ADVISORS, LLC
By:  

/s/ Douglas A. Hirsch

  Douglas A. Hirsch, Managing Member
DOUGLAS A. HIRSCH

/s/ Douglas A. Hirsch

Douglas A. Hirsch, individually