-----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, D8tM3ge40BGY2Tq7oa+eObUa+Crf+hudrK8k3sKlzZ/DEIm6IojZcT4es5JrwCJ+ GxViFCe3IOArLEDpitpHyw== 0000914121-97-000331.txt : 19971020 0000914121-97-000331.hdr.sgml : 19971020 ACCESSION NUMBER: 0000914121-97-000331 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19971017 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LSB INDUSTRIES INC CENTRAL INDEX KEY: 0000060714 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 731015226 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-17178 FILM NUMBER: 97697227 BUSINESS ADDRESS: STREET 1: 16 S PENNSYLVANIA CITY: OKLAHOMA CITY STATE: OK ZIP: 73107 BUSINESS PHONE: 4052354546 MAIL ADDRESS: STREET 1: P.O. BOX 754 CITY: OKLAHOMA STATE: OK ZIP: 73101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 2127600814 MAIL ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 SC 13D/A 1 SCHEDULE 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* LSB Industries, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.10 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 502160104 - -------------------------------------------------------------------------------- (CUSIP Number) Louis J. Bevilacqua, Esq. Cadwalader, Wickersham & Taft 100 Maiden Lane New York, New York 10038 (212) 504-6057 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 14, 1997 - -------------------------------------------------------------------------------- (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(b)(3) or (4), check the following box |_|. 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). - ----------------------------------- CUSIP No. 502160104 13D - ----------------------------------- - ------- ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3688497 - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) 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 - -------- ----------------------------------------------------------------------- 7 SOLE VOTING POWER 425,720 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY ------ --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 425,720 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 425,720 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.3% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN - ------- ------------------------------------------------------------------------ - ------- ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Wynnefield Partners Small Cap Value L.P. I S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3953291 - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) 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 - ------- ------------------------------------------------------------------------ 7 SOLE VOTING POWER 214,780 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY ------ --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 214,780 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 214,780 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.7% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN - ------- ------------------------------------------------------------------------ - ------- ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Channel Partnership II L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 22-3215653 - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) WC - ------- ------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------- ------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------- ------------------------------------------------------------------------ 7 SOLE VOTING POWER 24,000 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY ------ --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 24,000 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,000 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.2% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN - ------- ------------------------------------------------------------------------ - ------- ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Wynnefield Small Cap Value Offshore Fund Ltd S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) 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 - ------- ------------------------------------------------------------------------ 7 SOLE VOTING POWER 145,500 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY ------ --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 145,500 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 145,500 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.1% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) PN - ------- ------------------------------------------------------------------------ - ------- ------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Nelson Obus S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-#### - ------- ------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |X| (b) |_| - ------- ------------------------------------------------------------------------ 3 SEC USE ONLY - ------- ------------------------------------------------------------------------ 4 SOURCE OF FUNDS (See Instructions) PF - ------- ------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------- ------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------- ------------------------------------------------------------------------ 7 SOLE VOTING POWER 20,000 ------ --------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY ------ --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 20,000 PERSON WITH ------ --------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------- ------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,000 - ------- ------------------------------------------------------------------------ 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |_| - ------- ------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.2% - ------- ------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (See Instructions) IN - ------- ------------------------------------------------------------------------ This Amendment No. 1 to Schedule 13D amends Items 3, 5 and 7 of the Schedule 13D, dated September 4, 1997 (the "Original Schedule 13D"), filed by the Reporting Persons to reflect subsequent purchases of Common Stock by Wynnefield, Wynnefield I and Wynnefield Offshore. Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Original Schedule 13D. Item 3. Source and Amount of Funds or Other Consideration. Item 3 is amended by appending the following thereto: The source of the $426,623.20 used by Wynnefield to purchase its additional 89,375 shares of Common Stock was its working capital. The source of the $253,773.21 used by Wynnefield I to purchase its additional 53,125 shares of Common Stock was its working capital. The source of the $93,463.84 used by Wynnefield Offshore to purchase its additional 19,800 shares of Common Stock was its working capital. No funds were borrowed by any of PersonsWynnefield, Wynnefield I or Wynnefield Offshore in connection with its purchases of Common Stock. Item 5. Interest in Securities of the Issuer. Item 5(a) is amended by appending the following: As of the date of this Amendment No. 1: Wynnefield is the beneficial owner of 425,720 shares of Common Stock, or 3.3% of the outstanding Common Stock; Wynnefield I is the beneficial owner of 214,780 shares of Common Stock, or 1.7% of the outstanding Common Stock; Wynnefield Offshore is the beneficial owner of 1 45,500 shares of Common Stock, or 1.1% of the outstanding Common Stock; and the Reporting Persons are the beneficial owner of 830,000 shares of Common Stock, or 6.5% of the outstanding Common Stock. Item 5(b) is amended by appending the following: As of the date of this Amendment No. 1: Wynnefield has the sole power to vote, or to direct the vote of, 425,720 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 425,720 shares of Common Stock; Wynnefield I has the sole power to vote, or to direct the vote of, 214,780 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 214,780 shares of Common Stock; Wynnefield Offshore the sole power to vote, or to direct the vote of, 145,500 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 145,500 shares of Common Stock; and the Reporting Persons have the sole power to vote, or to direct the vote of, 830,000 shares of Common Stock and the sole power to dispose of, or to direct the disposition of, 830,000 shares of Common Stock. Item 5(c) is amended by appending the following: No. of Price per Reporting Person Date Shares Purchased Share - ---------------- ---- ---------------- --------- Wynnefield................ 09/04/97 32,175 $4.8402 09/25/97 5,200 4.6000 09/30/97 3,200 4.4481 10/06/97 12,800 4.5953 10/14/97 36,000 4.8310 Wynnefield I.............. 09/04/97 17,325 4.8402 09/25/97 2,800 4.6000 09/30/97 1,800 4.4481 10/06/97 7,200 4.5953 10/14/97 24,000 4.8310 Wynnefield Offshore........ 09/04/97 10,500 4.8402 09/26/97 2,500 4.5750 09/29/97 400 4.3750 09/30/97 400 4.4481 10/03/97 3,000 4.5500 10/07/97 3,000 4.6750 All of the foregoing purchases were made in the open market through broker-dealers. Item 7. Material to Be Filed as Exhibits. Exhibit 99.1 -- Joint Filing Agreement. Exhibit 99.2 -- Letter from the Reporting Persons to the Chairman of the Board and President of the Company, dated September 4, 1997.* Exhibit 99.3 -- Letter from the Reporting Persons to the Board of Directors of the Company, dated September 4, 1997.* Exhibit 99.4 -- Letter from the Reporting Persons to the Special Committee of the Board of Directors of the Company, dated October 17, 1997. * Previously filed. 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. Date: October 17, 1997 WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member CHANNEL PARTNERSHIP II L.P. By: /S/ NELSON OBUS ------------------------- Nelson Obus General Partner WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD By: WYNNEFIELD CAPITAL, INC., as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus President /S/ NELSON OBUS ------------------------- Nelson Obus EX-99.1 2 JOINT FILING AGREEMENT The Amendment No. 1 to Schedule 13D, relating to the common stock, par value $.10 per share, of LSB Industries, Inc., dated October 17, 1997, is filed on behalf of Wynnefield Partners Small Cap Value L.P., Wynnefield Partners Small Cap Value L.P. I, Channel Partnership II L.P., Wynnefield Small Cap Value Offshore Fund Ltd and Nelson Obus. Dated: October 17, 1997 WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member CHANNEL PARTNERSHIP II L.P. By: /S/ NELSON OBUS ------------------------- Nelson Obus General Partner WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD By: WYNNEFIELD CAPITAL, INC., as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus President /S/ NELSON OBUS ------------------------- Nelson Obus EX-99.4 3 LTR FRM REPORTING PERSONS TO SPECIAL COMMITTEE WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I CHANNEL PARTNERSHIP II L.P. WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD NELSON OBUS ONE PENN PLAZA SUITE 4720 NEW YORK, NEW YORK 10119 October 17, 1997 Mr. Bernard G. Ille Chairman Special Committee of the Board of Directors LSB Industries, Inc. 11044 Magnolia Park Oklahoma City, OK 73120 Dear Mr. Ille: I am in receipt of a September 29 letter from Mr. Gary W. Derrick of Derrick & Briggs in Oklahoma City detailing the creation of a Special Committee chaired by you to consider SLB Corporation's preferred stock proposal. I applaud the creation of such a committee to insure appropriate oversight of what appears to me to be a most controversial proposal. As mentioned in my letter to the Board of September 4, 1997, I am very serious about being given an opportunity to present an alternative proposal to the Special Committee. To this end, I request from the Special Committee information detailing LSB's need for a cash infusion at this time. With this in hand, I will prepare our proposal and expect an opportunity to meet with the Special Committee to discuss our proposal. If you choose not to cooperate with me along these suggested lines, I intend to move forward with an unsolicited proposal. I look forward to hearing from you at your earliest convenience. Sincerely, WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I By: WYNNEFIELD CAPITAL MANAGEMENT, LLC, as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus Managing Member CHANNEL PARTNERSHIP II L.P. By: /S/ NELSON OBUS ------------------------- Nelson Obus General Partner WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD By: WYNNEFIELD CAPITAL, INC., as general partner By: /S/ NELSON OBUS ------------------------- Nelson Obus President /S/ NELSON OBUS ------------------------- Nelson Obus -----END PRIVACY-ENHANCED MESSAGE-----