0001188112-13-001691.txt : 20130524 0001188112-13-001691.hdr.sgml : 20130524 20130524161454 ACCESSION NUMBER: 0001188112-13-001691 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130524 DATE AS OF CHANGE: 20130524 GROUP MEMBERS: BEN ROSENZWEIG GROUP MEMBERS: PRIVET FUND LP GROUP MEMBERS: RYAN LEVENSON SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: StarTek, Inc. CENTRAL INDEX KEY: 0001031029 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 841370538 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-52745 FILM NUMBER: 13872259 BUSINESS ADDRESS: STREET 1: 8200 E. MAPLEWOOD AVE. STREET 2: SUITE 100 CITY: GREENWOOD VILLAGE STATE: CO ZIP: 80111 BUSINESS PHONE: 303-262-4500 MAIL ADDRESS: STREET 1: 8200 E. MAPLEWOOD AVE. STREET 2: SUITE 100 CITY: GREENWOOD VILLAGE STATE: CO ZIP: 80111 FORMER COMPANY: FORMER CONFORMED NAME: STARTEK, INC. DATE OF NAME CHANGE: 20130201 FORMER COMPANY: FORMER CONFORMED NAME: STARTEK INC DATE OF NAME CHANGE: 19970121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Privet Fund Management LLC CENTRAL INDEX KEY: 0001539953 IRS NUMBER: 208058106 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 3280 PEACHTREE ROAD NE STREET 2: SUITE 2670 CITY: ATLANTA STATE: GA ZIP: 30305 BUSINESS PHONE: 404-419-2670 MAIL ADDRESS: STREET 1: 3280 PEACHTREE ROAD NE STREET 2: SUITE 2670 CITY: ATLANTA STATE: GA ZIP: 30305 SC 13D/A 1 t76646_sc13da.htm SCHEDULE 13D (AMENDMENT NO. 3) t76646_sc13da.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
 
STARTEK, INC.
(Name of Issuer)
 
Common Stock, par value $.01 per share
 
(Title of Class of Securities)
 
85569C107
(CUSIP Number)
 
Privet Fund LP
Attn: Ryan Levenson
3280 Peachtree Rd.
Suite 2670
Atlanta, GA 30305

With a copy to:
 
Rick Miller
Bryan Cave LLP
1201 W. Peachtree St., 16th Floor
Atlanta, Georgia 30309
Tel: (404) 572-6600
 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
 
May 14, 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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box o.

Note: Six copies of this statement, including all exhibits, should be filed with the Commission.  See Rule 13d-1(a) 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).
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 2 of 8 Pages    
 
 
    
 
1
     NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Privet Fund LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
 
(a) o
(b) o
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)            o
 
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
1,021,992
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
1,021,992
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,021,992
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES þ
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7
14
TYPE OF REPORTING PERSON
PN
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 3 of 8 Pages    
 
 
    
 
1
     NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Privet Fund Management LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
 
(a) o
(b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS                                                                AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)            o
 
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
1,131,897
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
1,131,897
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,131,897
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES þ
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4
14
TYPE OF REPORTING PERSON
OO
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 4 of 8 Pages    
 
 
    
 
1
     NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Ryan Levenson
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
 
(a) o
(b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS     AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)            o
 
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
1,131,897
9
SOLE DISPOSITIVE POWER
0
10
SHARED DISPOSITIVE POWER
1,131,897
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,131,897
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES þ
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4
14
TYPE OF REPORTING PERSON
IN
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 5 of 8 Pages    
 
 
    
 
1
     NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Ben Rosenzweig
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP 
 
(a) o
(b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS                                                                PF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)            o
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION   United States
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
 EACH
REPORTING
 PERSON WITH:
7
SOLE VOTING POWER
15,628
8
SHARED VOTING POWER
0
9
SOLE DISPOSITIVE POWER
15,628
10
SHARED DISPOSITIVE POWER
0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,628
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES þ
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1
14
TYPE OF REPORTING PERSON
IN
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 6 of 8 Pages    
 
    
 
 
SCHEDULE 13D
 
Reference is hereby made to the statement on Schedule 13D filed with the Securities and Exchange Commission on May 9, 2011, as amended on March 9, 2012, and as amended on August 22, 2012 (the “Schedule 13D”), with respect to the Common Stock, par value $0.01 per share (the “Common Stock”) of StarTek, Inc., a Delaware corporation (the “Company” or “Issuer”). Capitalized terms not otherwise defined herein are used as defined in the Schedule 13D. The Reporting Persons hereby amend and supplement the Schedule 13D as follows.
 
Item 3.
Source and Amount of Funds or Other Consideration.
 
Item 3 is hereby amended and restated in its entirety to read as follows:
 
The aggregate purchase price of the 1,147,525 shares of Common Stock beneficially owned by the Reporting Persons is approximately $4,166,330, not including brokerage commissions, of which approximately $3,798,457 was funded with partnership funds of Privet Fund LP, $335,273 was funded with assets under separately managed accounts with Privet Fund Management LLC, and $32,600 was funded with personal assets of Mr. Rosenzweig.  Mr. Rosenzweig was granted 7,874 of his shares by the Company as director compensation.  The participants may have effected purchases of the Company’s Shares through margin accounts maintained with prime brokers, who may have extended margin credit as and when requested to open or carry positions in the margin accounts, subject to applicable federal margin regulations, stock exchange rules, and such broker’s credit policies.
 
Item 5.
Interest in Securities of the Issuer.
 
Item 5 is hereby amended and restated in its entirety to read as follows:
 
(a)   As of the close of business on May 23, 2013, the aggregate number and percentage of shares of Common Stock beneficially owned by the Reporting Persons collectively is 1,147,525 shares (the “Shares”), or approximately 7.5% of the outstanding Common Stock of the Company (calculated based on information included in the Form 10-Q filed by the Company for the quarterly period ended March 31, 2013, which reported that 15,334,738 shares of Common Stock were outstanding as of May 6, 2013).
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 7 of 8 Pages    
 
    
 
 
 
Signature
 
After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
Date:  May 24, 2013
 PRIVET FUND LP  
     
    By: Privet Fund Management LLC,   
      Its Managing Partner  
           
 
    
By:
 /s/ Ryan Levenson  
      Name: Ryan Levenson  
      Its: Sole Manager  
           
  PRIVET FUND MANAGEMENT LLC  
           
      By: /s/ Ryan Levenson  
      Name: Ryan Levenson  
      Its: Sole Manager  
           
  /s/ Ryan Levenson  
  Ryan Levenson  
     
  /s/ Ben Rosenzweig  
  Ben Rosenzweig  
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No.  85569C107
  
Page 8 of 8 Pages    
 
    
 
 
SCHEDULE 1


Shares Acquired or Sold by the Reporting Persons in the Last 60 Days

Unless otherwise indicated, all transactions were effected on the open market.
 
1.
Privet Fund LP

Trade Date
Nature of Transaction
(Purchase/Sale)
Number of Shares
Price Per Share 1
5/13/2013
Purchase
100,000
$4.85
5/14/2013
Purchase
90,538
$4.78
5/15/2013
Purchase
47,761
$4.55
5/21/2013
Purchase
7,526
$4.51
5/22/2013
Purchase
9,858
$4.60
 
                                        
1 Not including any brokerage fees.