-----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, Udeet3n58msxPtrfc67q8SLpyMKpM07JPXCKStqGLWXGUcMqM8UzAkay7wHY6a4w HNVUG9qlnBCwetUVZY7xWg== 0000950134-05-019016.txt : 20051011 0000950134-05-019016.hdr.sgml : 20051010 20051011162818 ACCESSION NUMBER: 0000950134-05-019016 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20051011 DATE AS OF CHANGE: 20051011 GROUP MEMBERS: JOHN S CLARK II GROUP MEMBERS: ROBERT W BUTTS GROUP MEMBERS: SOUTHPOINT CAPITAL ADVISORS LLC GROUP MEMBERS: SOUTHPOINT GP LLC GROUP MEMBERS: SOUTHPOINT GP LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN TRAFFIC CO CENTRAL INDEX KEY: 0000077155 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 250716800 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-20957 FILM NUMBER: 051133007 BUSINESS ADDRESS: STREET 1: 1200 STATE FAIR BLVD CITY: SRYACUSE STATE: NY ZIP: 13221-4737 BUSINESS PHONE: 8145369900 MAIL ADDRESS: STREET 1: 1200 STATE FAIR BLVD CITY: SYRACUSE STATE: NY ZIP: 13221-4737 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Southpoint Capital Advisors LP CENTRAL INDEX KEY: 0001319998 IRS NUMBER: 200975910 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 237 PARK AVENUE STREET 2: SUITE 900 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 212.692.6350 MAIL ADDRESS: STREET 1: 237 PARK AVENUE STREET 2: SUITE 900 CITY: NEW YORK STATE: NY ZIP: 10017 SC 13G 1 d29319sc13g.htm SCHEUDLE 13G sc13g
 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No.     )*

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)

The Penn Traffic Company

(Name of Issuer)

Shares of Common Stock, par value $0.01 per share

(Title of Class of Securities)

707832200

(CUSIP Number)

September 9, 2005

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

        o Rule 13d-1 (b)

        þ Rule 13d-1 (c)

        o 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 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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

1 of 11

 

             
13G
CUSIP No. 707832200 Page 2 of 11
  1. Name of Reporting Person:
Southpoint Capital Advisors LP		 I.R.S. Identification Nos. of above persons (entities only):
20-0975910
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
Delaware
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

2 of 11

 

             
13G
CUSIP No. 707832200 Page 3 of 11
  1. Name of Reporting Person:
Southpoint GP, LP		 I.R.S. Identification Nos. of above persons (entities only):
20-1095514
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
Delaware
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
PN

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

3 of 11

 

             
13G
CUSIP No. 707832200 Page 4 of 11
  1. Name of Reporting Person:
Southpoint Capital Advisors LLC		 I.R.S. Identification Nos. of above persons (entities only):
20-0975900
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
Delaware
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
OO

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

4 of 11

 

             
13G
CUSIP No. 707832200 Page 5 of 11
  1. Name of Reporting Person:
Southpoint GP, LLC		 I.R.S. Identification Nos. of above persons (entities only):
20-1064783
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
Delaware
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
OO

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

5 of 11

 

             
13G
CUSIP No. 707832200 Page 6 of 11
  1. Name of Reporting Person:
Robert W. Butts		 I.R.S. Identification Nos. of above persons (entities only):
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
United States
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
IN

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

6 of 11

 

             
13G
CUSIP No. 707832200 Page 7 of 11
  1. Name of Reporting Person:
John S. Clark II		 I.R.S. Identification Nos. of above persons (entities only):
  2. Check the Appropriate Box if a Member of a Group:*
    (a) o  
    (b) o  
  3. SEC Use Only:
  4. Citizenship or Place of Organization:
United States
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
5. Sole Voting Power:
532,236**
6. Shared Voting Power:
0
7. Sole Dispositive Power:
532,236**
8.Shared Dispositive Power:
0
  9.Aggregate Amount Beneficially Owned by Each Reporting Person:
532,236**
  10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares:*
o
  11.Percent of Class Represented by Amount in Row (9):
6.89%**
  12.Type of Reporting Person:
IN

*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4.

7 of 11

 

SCHEDULE 13G
     This Schedule 13G (the “Schedule 13G”) is being filed on behalf of Southpoint Capital Advisors LLC, a Delaware limited liability company (“Southpoint CA LLC”), Southpoint GP, LLC, a Delaware limited liability company (“Southpoint GP LLC”), Southpoint Capital Advisors LP, a Delaware limited partnership (“Southpoint Advisors”), Southpoint GP, LP, a Delaware limited partnership (“Southpoint GP”), Robert W. Butts and John S. Clark II. Southpoint CA LLC is the general partner of Southpoint Advisors. Southpoint GP LLC is the general partner of Southpoint GP. Southpoint GP is the general partner of Southpoint Fund LP, a Delaware limited partnership (the “Fund”), Southpoint Qualified Fund LP, a Delaware limited partnership (the “Qualified Fund”), and Southpoint Offshore Operating Fund, LP, a Cayman Islands exempted limited partnership (the “Offshore Operating Fund”). Southpoint Offshore Fund, Ltd., a Cayman Island exempted company (the “Offshore Fund”), is also a general partner of the Offshore Operating Fund. This Schedule 13G relates to shares of Common Stock of The Penn Traffic Company, a Delaware corporation (the “Issuer”), purchased by the Fund, the Qualified Fund and the Offshore Operating Fund.
         
Item 1(a)   Name of Issuer.
 
        
    The Penn Traffic Company
 
        
Item 1(b)   Address of Issuer’s Principal Executive Offices.
 
        
    1200 State Fair Blvd,
    Syracuse, New York 13221-4737
 
        
Item 2(a)   Name of Person Filing.
 
        
 
   (1)   Southpoint Capital Advisors, LP
 
   (2)   Southpoint GP, LP
 
   (3)   Southpoint Capital Advisors, LLC
 
   (4)   Southpoint GP, LLC
 
   (5)   Robert W. Butts
 
   (6)   John S. Clark II
 
        
Item 2(b)   Address of Principal Business Office, or, if none, Residence.
 
        
 
   (1)   For all Filers:
 
       623 Fifth Avenue, Suite 2503
 
       New York, NY 10022
 
       (212) 692-6350

8 of 11

 

         
Item 2(c)   Citizenship or Place of Organization.
 
        
 
   (1)   Southpoint Capital Advisors LP is a Delaware limited partnership.
 
   (2)   Southpoint Capital GP, LP is a Delaware limited partnership.
 
   (3)   Southpoint Capital Advisors LLC is a Delaware limited liability company.
 
   (4)   Southpoint Capital GP, LLC is a Delaware limited liability company.
 
   (5)   Robert W. Butts is a U.S. citizen.
 
   (6)   John S. Clark II is a U.S. citizen.
 
        
Item 2(d)   Title of Class of Securities.
 
        
    Common Stock, par value $0.01 per share (the “Common Stock”).
 
        
Item 2(e)   CUSIP Number.
 
        
    707832200
 
        
Item 3   If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
 
        
    Not Applicable.
 
        
Item 4   Ownership.
 
        
 
   (a)   Southpoint CA LLC, Southpoint GP LLC, Southpoint GP, Southpoint
 
       Advisors, Robert W. Butts and John S. Clark II may be deemed the beneficial
 
       owners of 532,236 shares of Common Stock.
 
        
 
   (b)   As of October 11, 2005, Southpoint CA LLC, Southpoint GP LLC,
 
       Southpoint GP, Southpoint Advisors, Robert W. Butts and John S. Clark II may be
 
       deemed the beneficial owners of 6.89% of the outstanding shares of Common
 
       Stock. This percentage was determined by dividing 532,236 by 7,725,720, which
 
       is the number of shares of Common Stock outstanding according to counsel for
 
       The Penn Traffic Company as of September 26, 2005.
 
        
 
   (c)   Southpoint CA LLC, Southpoint GP LLC, Southpoint GP, Southpoint
 
       Advisors, Robert W. Butts and John S. Clark II have the sole power to vote and
 
       dispose of the 532,236 shares of Common Stock beneficially owned.
 
        
Item 5   Ownership of Five Percent or Less of a Class.
 
        
    Not Applicable.

9 of 11

 

         
Item 6   Ownership of More Than Five Percent on Behalf of Another Person.
 
        
    All securities reported in this schedule are owned by clients of the Investment Manager. To the knowledge of the Investment Manager, no one client owns more than 5% of the Common Stock.
 
        
Item 7   Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.
 
        
    Not Applicable.
 
        
Item 8   Identification and Classification of Members of the Group.
 
        
    Not Applicable.
 
        
Item 9   Notice of Dissolution of Group.
 
        
    Not Applicable.
 
        
Item 10   Certification.
 
        
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
        
Exhibits   Exhibit 1
 
        
    Joint Filing Agreement dated October 11, 2005, between Southpoint CA LLC, Southpoint GP LLC, Southpoint GP, Southpoint Advisors, Robert W. Butts and John S. Clark II.

10 of 11

 

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 11, 2005
                 
    SOUTHPOINT CAPITAL ADVISORS, LP    
 
                
    By:   Southpoint Capital Advisors LLC
its general partner		    
 
                
      By:        /s/ Robert W. Butts    
               
      Name:
Title: 		  Robert W. Butts
Manager		    
 
                
    SOUTHPOINT GP, LP    
 
                
    By:   Southpoint GP, LLC
its general partner		    
 
                
      By:        /s/ Robert W. Butts    
               
      Name:
Title: 		  Robert W. Butts
Manager		    
 
                
    SOUTHPOINT CAPITAL ADVISORS, LLC    
 
                
    By:        /s/ Robert W. Butts    
             
    Name:
Title:		   Robert W. Butts
Manager		    
 
                
    SOUTHPOINT GP, LLC    
 
                
    By:        /s/ Robert W. Butts    
             
    Name:
Title:		   Robert W. Butts
Manager		    
 
                
         /s/ Robert W. Butts    
         
         Robert W. Butts    
 
                
         /s/ John S. Clark II    
         
         John S. Clark II    

11 of 11

EX-99.1 2 d29319exv99w1.htm JOINT FILING AGREEMENT exv99w1
 

EXHIBIT 1
JOINT FILING AGREEMENT
     In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, par value $0.01 per share, of The Penn Traffic Company, and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.
     The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.
     This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.
[Signature Page Follows]

 

 

     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of October 11, 2005.
SOUTHPOINT CAPITAL ADVISORS, LP
                 
    SOUTHPOINT CAPITAL ADVISORS, LP    
 
                
    By:   Southpoint Capital Advisors LLC
its general partner		    
 
                
      By:        /s/ Robert W. Butts    
               
      Name:
Title: 		  Robert W. Butts
Manager		    
 
                
    SOUTHPOINT GP, LP    
 
                
    By:   Southpoint GP, LLC
its general partner		    
 
                
      By:        /s/ Robert W. Butts    
               
      Name:
Title: 		  Robert W. Butts
Manager		    
 
                
    SOUTHPOINT CAPITAL ADVISORS, LLC    
 
                
    By:        /s/ Robert W. Butts    
             
    Name:
Title:		   Robert W. Butts
Manager		    
 
                
    SOUTHPOINT GP, LLC    
 
                
    By:        /s/ Robert W. Butts    
             
    Name:
Title:		   Robert W. Butts
Manager		    
 
                
         /s/ Robert W. Butts    
         
         Robert W. Butts    
 
                
         /s/ John S. Clark II    
         
         John S. Clark II    

 

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