0001393825-12-000009.txt : 20120210
0001393825-12-000009.hdr.sgml : 20120210
20120210142812
ACCESSION NUMBER: 0001393825-12-000009
CONFORMED SUBMISSION TYPE: SC 13G/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20120210
DATE AS OF CHANGE: 20120210
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: IsoRay, Inc.
CENTRAL INDEX KEY: 0000728387
STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
IRS NUMBER: 411458152
STATE OF INCORPORATION: MN
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-80930
FILM NUMBER: 12591980
BUSINESS ADDRESS:
STREET 1: 350 HILLS STREET,
STREET 2: SUITE 106
CITY: RICHLAND
STATE: WA
ZIP: 99354
BUSINESS PHONE: (509) 375-1202
MAIL ADDRESS:
STREET 1: 350 HILLS STREET,
STREET 2: SUITE 106
CITY: RICHLAND
STATE: WA
ZIP: 99354
FORMER COMPANY:
FORMER CONFORMED NAME: CENTURY PARK PICTURES CORP
DATE OF NAME CHANGE: 19920703
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: Hudson Bay Capital Management LP
CENTRAL INDEX KEY: 0001393825
IRS NUMBER: 371511173
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G/A
BUSINESS ADDRESS:
STREET 1: 777 THIRD AVE., 30TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 212-571-1244
MAIL ADDRESS:
STREET 1: 777 THIRD AVE., 30TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: Hudson Bay Capital Management, L.P.
DATE OF NAME CHANGE: 20070320
SC 13G/A
1
isr_sc13ga.txt
ISORAY, INC. SC13GA
1
ISR_sc13ga.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
(Amendment No. 2)
Under the Securities Exchange Act of 1934
IsoRay, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
46489V104
(CUSIP Number)
December 31, 2011
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
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).
Page 1 of 7 Pages
CUSIP No. 46489V104 13G/A Page 2 of 7 Pages
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(1) NAMES OF REPORTING PERSONS
Hudson Bay Master Fund Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.06% (see Item 4)
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
CO
-----------------------------------------------------------------------------
CUSIP No. 46489V104 13G/A Page 3 of 7 Pages
-----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Hudson Bay Capital Management, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.06% (see Item 4)
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
PN
-----------------------------------------------------------------------------
CUSIP No. 46489V104 13G/A Page 4 of 7 Pages
-----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Sander Gerber
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Warrants (Series C) to purchase up to 2,812,500 shares of Common Stock,
which expire on 11/24/2015 (see Item 4)
Warrants to purchase up to 108,695 shares of Common Stock, which
expire on 10/13/2016 (see Item 4)
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.06% (see Item 4)
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
IN
-----------------------------------------------------------------------------
CUSIP No. 46489V104 13G/A Page 5 of 7 Pages
-----------------------------------------------------------------------------
This Amendment No. 2 (this "Amendment") amends the statement on Schedule
13G filed on December 2, 2010 (the "Original Schedule 13G"), as amended
by Amendment No. 1 filed on February 14, 2011 (the Original Schedule 13G
as amended, the "Schedule 13G") with respect to the shares of common stock,
$0.001 par value per share, (the "Common Stock") of IsoRay, Inc., a
Minnesota corporation (the "Company"). Capitalized terms used herein and
not otherwise defined in this Amendment have the meanings set forth in
the Schedule 13G. This Amendment amends and restates Item 4 in its entirety.
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
The information required by Items 4(a) - (c) is set forth in Rows 5-
11 of the cover page for each Reporting Person hereto and is incorporated
herein by reference for each such Reporting Person.
The percentage set forth in Row (11) of the cover page for each Reporting
Person is based on 29,316,306 shares of Common Stock outstanding as of
December 28, 2011, as disclosed in the Company's Definitive Proxy
Statement on Schedule 14A filed with the Securities and Exchange Commission
on January 10, 2012 and assumes the exercise of the reported warrants.
Pursuant to the terms of the reported warrants (the "Reported Warrants"),
the Reporting Persons cannot exercise any of the Reported Warrants until
such time as the Reporting Persons would not beneficially own, after any
such exercise, more than 9.99% of the outstanding shares of Common Stock
(the "Blocker"). In addition to the Reported Warrants, Hudson Bay Master
Fund Ltd. holds additional Series D warrants to purchase up to 2,812,500
shares of Common Stock which are only exercisable to the extent that the
Series C Warrants reported herein held by Hudson Bay Master Fund Ltd. are
not exercisable due to the NYSE Amex Equities blocker contained herein
(the "Additional Warrants"). Pursuant to the terms of the Additional
Warrants, the Reporting Persons cannot exercise any of the Additional
Warrants until such time as the Reporting Persons would not beneficially
own, after any such exercise, more than 9.99% of the outstanding shares
of Common Stock.
CUSIP No. 46489V104 13G/A Page 6 of 7 Pages
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The Investment Manager, which serves as the investment manager to
Hudson Bay Master Fund Ltd., may be deemed to be the beneficial owner of all
shares of Common Stock held by Hudson Bay Master Fund Ltd.. Mr. Gerber
serves as the managing member of Hudson Bay Capital GP LLC, which is the
general partner of the Investment Manager. Each of Hudson Bay Master Fund
Ltd. and Mr. Gerber disclaims beneficial ownership of these securities.
Hudson Bay Master Fund Ltd. is named as Reporting Person herein solely to
report the securities held in its name.
CUSIP No. 46489V104 13G/A Page 7 of 7 Pages
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SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information with respect to it
set forth in this statement is true, complete, and correct.
Dated: February 10, 2012
HUDSON BAY CAPITAL MANAGEMENT, L.P.
By: /s/ Sander Gerber
Name: Sander Gerber
Title: Authorized Signatory
HUDSON BAY MASTER FUND LTD
By: Hudson Bay Capital Management, L.P.
Investment Manager
By: /s/ Sander Gerber
Name: Sander Gerber
Title: Authorized Signatory
/s/ Sander Gerber
SANDER GERBER
DOC ID-18183551.2