-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Lbb+TRIW/pCw7vACxWi5qup8rhzy8jlrqut+gFBU2DqLTmDl/wmU41wmt8fXdurj QPfixUX8TQ1CSiz4sixKRA== 0000912057-02-005116.txt : 20020414 0000912057-02-005116.hdr.sgml : 20020414 ACCESSION NUMBER: 0000912057-02-005116 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20020212 GROUP MEMBERS: ABNER KURTIN GROUP MEMBERS: HARWICH CAPITAL PARTNERS, LLC GROUP MEMBERS: K CAPITAL OFFSHORE MASTER FUND (U.S. DOLLAR), L.P. GROUP MEMBERS: SPECIAL K CAPITAL OFFSHORE MASTER FUND (U.S. DOLLAR) GROUP MEMBERS: THOMAS KNOTT SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GYRODYNE CO OF AMERICA INC CENTRAL INDEX KEY: 0000044689 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 111688021 STATE OF INCORPORATION: NY FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33650 FILM NUMBER: 02535791 BUSINESS ADDRESS: STREET 1: 102 FLOWERFIELD ST CITY: ST JAMES STATE: NY ZIP: 11780 BUSINESS PHONE: 6315845400 MAIL ADDRESS: STREET 2: 17 FLOWERFIELD SUITE 15 CITY: ST JAMES STATE: NY ZIP: 11780 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: K CAPITAL PARTNERS LLC CENTRAL INDEX KEY: 0001088580 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 441 STUART STREET, 6TH FLOOR STREET 2: 6TH FLOOR CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 651764657700 MAIL ADDRESS: STREET 1: 441 STUART STREET, 6TH FLOOR STREET 2: 441 STUART STREET, 6TH FLOOR CITY: BOSTON STATE: MA ZIP: 02116 SC 13D/A 1 a2070358zsc13da.txt SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D/A-10 (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. 10) Gyrodyne Company of America, Inc. --------------------------------- (Name of issuer) Common Stock ------------------------------ (Title of class of securities) 403820103 -------------- (CUSIP number) Robert T. Needham, K Capital Partners, LLC 75 Park Plaza Boston, Massachusetts 02116 (617) 646-7700 ----------------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) February 11, 2002 ------------------------------------------------------- (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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) for other parties to whom copies are to be sent. (Page 1 of 11) - -------------------------------- *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. - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 2 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) K Capital Partners, 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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 209,350 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 209,350 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 209,350 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.72% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 3 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Special K Capital Offshore Master Fund (U.S. Dollar), 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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 27,781 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 27,781 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 27,781 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.484% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* PN - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 4 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) K Capital Offshore Master Fund (U.S. Dollar), 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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 181,569 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 181,569 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 181,569 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.236% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* PN - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 5 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Harwich Capital Partners, 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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 209,350 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 209,350 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 209,350 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.72% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 6 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Thomas Knott - ---------- -------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_| - ---------- -------------------------------------------------------------------- 3. SEC USE ONLY - ---------- -------------------------------------------------------------------- 4. SOURCE OF FUNDS* AF - ---------- -------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 209,350 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 209,350 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 209,350 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.72% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 7 OF 11 PAGES - ------------------- ------------------- - ---------- -------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Abner Kurtin - ---------- -------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_| - ---------- -------------------------------------------------------------------- 3. SEC USE ONLY - ---------- -------------------------------------------------------------------- 4. SOURCE OF FUNDS* AF - ---------- -------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - ---------- -------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen - ---------------------------- -------- ----------------------------------------- NUMBER OF SHARES 7. SOLE VOTING POWER 209,350 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------- 8. SHARED VOTING POWER 0 -------- ----------------------------------------- 9. SOLE DISPOSITIVE POWER 209,350 -------- ----------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - ---------------------------- -------- ----------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 209,350 - ---------- -------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - ---------- -------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 18.72% - ---------- -------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN - ---------- -------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 8 OF 11 PAGES - ------------------- ------------------- This Amendment No. 10 ("AMENDMENT NO. 10") amends and supplements the Report on Schedule 13D, filed on June 14, 1999, as amended by Amendment No. 1 filed on August 13, 1999, Amendment No. 2 filed on November 5, 1999, Amendment No. 3 filed on December 2, 1999, Amendment No. 4 filed on January 21, 2000, Amendment No. 5 filed on July 13, 2001, Amendment No. 6 filed on July 26, 2001, Amendment No. 7 filed on August 8, 2001, Amendment No. 8 filed on August 13, 2001 and Amendment No. 9 filed on January 15, 2002 (collectively, the "SCHEDULE 13D"). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Schedule 13D. This filing of Amendment No. 10 is not, and should not be deemed to be construed as, an admission that the Schedule 13D or that any amendment thereto is required to be filed or that any of the Reporting Persons are, for the purposes of Sections 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owners of any securities covered by this statement. ITEM 1. SECURITY AND ISSUER. This Report on Schedule 13D relates to shares of common stock, par value $1.00 per share (the "SHARES") of Gyrodyne Company of America, Inc. ("GYRODYNE"), whose principal executive offices are located at 102 Flowerfield Street, St. James, New York 11780. ITEM 4. PURPOSE OF TRANSACTIONS. The information set forth in Item 4 of the Schedule 13D is hereby amended and supplemented by the following: On February 11, 2002, the Reporting Persons delivered a letter to the Vice President, Secretary and General Counsel of Gyrodyne, a copy of which is attached hereto as Exhibit 99.1 and incorporated in its entirety by reference herein. Except as set forth above, the Reporting Persons have no present plans or intentions that would result in any of the matters required to be set forth in items (a) through (j) of Item 4 of Schedule 13D. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Except as otherwise set forth in Item 4 of this Amendment No. 10 to Schedule 13D or as previously disclosed, none of the Reporting Persons has any contract, arrangement, understanding or relationship (legal or otherwise) with any person with respect to any securities of Gyrodyne including, but not limited to, any contract, arrangement, understanding or relationship concerning the transfer or the voting of any securities of Gyrodyne, joint ventures, loan or option arrangements, puts or calls, guaranties of profits, division of profits or losses, or the giving or withholding of proxies. - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 9 OF 11 PAGES - ------------------- ------------------- ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. 99.1 Letter dated February 11, 2002 from K Capital Partners, LLC to the Vice President, Secretary and General Counsel of Gyrodyne Company of America, Inc. - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 10 OF 11 PAGES - ------------------- ------------------- SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. EXECUTED as a sealed instrument this 11th day of February, 2002. Special K Capital Offshore Master Fund (U.S. Dollar), L.P. By: /S/ ROBERT T. NEEDHAM ---------------------- K Capital Partners, LLC, General Partner By: Harwich Capital Partners, LLC, its Managing Member By: Robert T. Needham, its Chief Administrative Officer K Capital Offshore Master Fund (U.S. Dollar), L.P. By: /S/ ROBERT T. NEEDHAM ---------------------- K Capital Partners, LLC, General Partner By: Harwich Capital Partners, LLC, its Managing Member By: Robert T. Needham, its Chief Administrative Officer K Capital Partners, LLC By: /S/ ROBERT T. NEEDHAM ---------------------- Harwich Capital Partners, LLC, its Managing Member By: Robert T. Needham, its Chief Administrative Officer Harwich Capital Partners, LLC By: /S/ ROBERT T. NEEDHAM ---------------------- Robert T. Needham, its Chief Administrative Officer - ------------------- ------------------- CUSIP NO. 403820103 13D PAGE 11 OF 11 PAGES - ------------------- ------------------- Thomas Knott* By: /S/ ROBERT T. NEEDHAM ---------------------- Robert T. Needham Attorney in Fact Abner Kurtin* By: /S/ ROBERT T. NEEDHAM ---------------------- Robert T. Needham Attorney in Fact *Powers of attorney, dated as of September 4, 2001, by Thomas Knott and Abner Kurtin are currently on file with the Commission and are incorporated herein by reference. EX-99.1 3 a2070358zex-99_1.txt EXHIBIT 99.1 Exhibit 99.1 [K CAPITAL LETTERHEAD] February 11, 2002 Peter Pitsiokos, Esq. Executive Vice President, Secretary and General Counsel Gyrodyne Company of America, Inc. 102 Flowerfield Street St. James, NY 11780 RE: GYRODYNE COMPANY OF AMERICA, INC. Dear Mr. Pitsiokos: We are very disappointed by management's misrepresentation of our intentions. We reiterate that we are not willing to pay any more than $20.00 per share to acquire Gyrodyne Company of America, Inc. ("GYRODYNE") given that management impaired the value of the company in late December. This is our best and final price and is not subject to any financing contingencies but is subject to due diligence. We do not intend to keep this option open for much longer. If management is not willing to sell the company at this time, we stand ready to sell our shares at $20.00 or higher per share despite the allegations in your recent letter to shareholders. As the largest shareholder of the company, we are disappointed that the management of Gyrodyne seeks to do nothing but maintain the status quo. We find it disingenuous that management insists on a course of action that prevents us from either buying the company or selling our stake. Sincerely, /s/ Abner Kurtin Abner Kurtin -----END PRIVACY-ENHANCED MESSAGE-----