-----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, AICsv+EaYUzi8rHU/4AJTe3kiteJ+Sbzi1NySZw5+f5NHy1WbpDQkLQjvEkNTQh2 dA2BeobFzXVXkcIjC4aHpQ== 0001412234-08-000003.txt : 20080320 0001412234-08-000003.hdr.sgml : 20080320 20080319185822 ACCESSION NUMBER: 0001412234-08-000003 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080320 DATE AS OF CHANGE: 20080319 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PREMIER EXHIBITIONS, INC. CENTRAL INDEX KEY: 0000796764 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] IRS NUMBER: 201424922 FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-51499 FILM NUMBER: 08700419 BUSINESS ADDRESS: STREET 1: 3340 PEACHTREE ROAD NE STREET 2: SUITE 2250 CITY: ATLANTA STATE: GA ZIP: 30326 BUSINESS PHONE: 404-842-2600 MAIL ADDRESS: STREET 1: 3340 PEACHTREE ROAD NE STREET 2: SUITE 2250 CITY: ATLANTA STATE: GA ZIP: 30326 FORMER COMPANY: FORMER CONFORMED NAME: RMS TITANIC INC DATE OF NAME CHANGE: 20010404 FORMER COMPANY: FORMER CONFORMED NAME: FIRST RESPONSE MEDICAL INC /FL/ DATE OF NAME CHANGE: 20010404 FORMER COMPANY: FORMER CONFORMED NAME: CIP HOLDINGS INC DATE OF NAME CHANGE: 19930302 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Sellers Capital LLC CENTRAL INDEX KEY: 0001412234 IRS NUMBER: 203036090 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 161 N CLARK ST STREET 2: STE 4700 CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 312-523-2160 MAIL ADDRESS: STREET 1: 161 N CLARK ST STREET 2: STE 4700 CITY: CHICAGO STATE: IL ZIP: 60601 SC 13D 1 sc13dfiling.htm Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.            )*

 

 

 

Premier Exhibitions, Inc.

(Name of Issuer)

 

 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

 

 

74051E102

(CUSIP Number)

 

 

Michael Porter

Samuel S. Weiser

Sellers Capital LLC

161 N Clark St Ste 4700

Chicago, IL 60601

(312) 523-2163

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

March 12, 2008

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-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 §240.13d-7 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. 74051E102   13D   Page 2 of 10

 

  1  

Name of Reporting Persons.

 

            Sellers Capital Master Fund, Ltd.

    
  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

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7    Sole Voting Power

 

                0

 

  8    Shared Voting Power

 

                1,947,386

 

  9    Sole Dispositive Power

 

                0

 

10    Shared Dispositive Power

 

                1,947,386

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            1,947,386

    
12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

   ¨
13  

Percent of Class Represented by Amount in Row (11)

 

            6.46%

    
14  

Type of Reporting Person (See Instructions)

 

            IV

    

CUSIP No. 74051E102   13D   Page 3 of 10

 

  1  

Names of Reporting Persons.

 

            Praetorian Value Fund LLC

   
  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

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7    Sole Voting Power

 

                0

 

  8    Shared Voting Power

 

                119,000

 

  9    Sole Dispositive Power

 

                0

 

10    Shared Dispositive Power

 

                119,000

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            119,000

    
12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

   ¨
13  

Percent of Class Represented by Amount in Row (11)

 

            0.39%

    
14  

Type of Reporting Person (See Instructions)

 

            IV

    

CUSIP No. 74051E102   13D   Page 4 of 10

 

  1  

Name of Reporting Persons.

 

            Sellers Capital LLC

   
  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

 

            Illinois

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7    Sole Voting Power

 

                0

 

  8    Shared Voting Power

 

                22,236

 

  9    Sole Dispositive Power

 

                0

 

10    Shared Dispositive Power

 

                22,236

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            22,236

    
12  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

   ¨
13  

Percent of Class Represented by Amount in Row (11)

 

            0.07%

    
14  

Type of Reporting Person (See Instructions)

 

            IV

    

 

CUSIP No. 74051E102   13D   Page 7 of 10

 

Item 1. Security and Issuer.

This Statement on Schedule 13D (“Schedule 13D”) relates to the Common Stock, par value $0.0001 (the “Shares”), of Premier Exhibitions, Inc., a Georgia corporation (the “Issuer”).

The address of the Issuer’s principal executive offices is 3340 Peachtree Rd, Ste 2250, Atlanta, GA 30326.

 

Item 2. Identity and Background.

This Schedule 13D is being filed by Sellers Capital Master Fund, Ltd. (“SCMF”), Praetorian Value Fund, LLC (“PVF”), and Sellers Capital LLC ("SC"), on behalf of separate accounts it manages.

The principal business office of each of the reporting entities is 161 N Clark St, Ste 4700, Chicago, IL 60601.

The principal business of the reporting entities SCMF and PVF is to operate as privately held investment funds for high net worth individuals and institutions. The principal business of SC is to advise privately held investment funds, including SCMF and PVF, and to provide separate account management where SC has investment discretion over client assets held in the client's name.

During the last five years, none of the reporting entities described in this Item 2 has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, is or was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

SCMF is a limited partnership organized under the laws of the Cayman Islands. PVF is a limited liability company organized under the laws of Delaware. SC is a limited liability company organized under the laws of Illinois.

 

Item 3. Source and Amount of Funds or Other Consideration.

As of the date hereof, the Reporting Persons are deemed to beneficially own an aggregate of 2,088,622 Shares, as detailed in Item 5. The aggregate purchase price for such shares was $15,120,130.24 (inclusive of brokerage commissions and fees), which amount has come from working capital.

CUSIP No. 74051E102   13D   Page 8 of 10

 

Item 4. Purpose of Transaction.

The Reporting Persons acquired the Shares for investment purposes in the ordinary course of business and maintain the right to engage in discussions with management and the Board of Directors of the Issuer concerning the business and the future plans of the Issuer generally, and with regard to strategies and potential transactions to maximize shareholder value. The Reporting Persons intend to regularly review their investment in the Issuer. Based on such review, as well as other factors (including, among other things, their evaluation of the Issuer’s business, prospects and financial condition, the market price for the Issuer’s securities, other opportunities available to them and general market, industry and economic conditions), the Reporting Persons, and/or other persons affiliated with them, may, and reserve the right to, change their intentions, acquire additional securities of the Issuer, or sell some or all of their Shares, on the open market, in privately negotiated transactions or otherwise. The Reporting Persons may formulate plans or proposals for, and may from time to time explore, or make proposals relating to, transactions or actions which relate to or would result in any of the matters specified in clauses (a) through (j) of Item 4 of Schedule 13D.

 

Item 5. Interest in Securities of the Issuer.

(a) SCMF is the owner of 1,947,386 Shares, representing approximately 6.46% of the outstanding Shares. PVF is the owner of 119,000 Shares, representing approximately 0.39% of the outstanding Shares. SC, on behalf of separate accounts it manages, is the owner of 22,236 Shares, representing approximately 0.07% of the outstanding Shares. The percentages used herein are based on the 30,158,839 shares reported to be issued and outstanding as of November 30, 2007 by the Issuer in its Form 10-Q for the quarterly period ended November 30, 2007, filed with the Securities and Exchange Commission on January 8, 2008.

(b)

 

Reporting Persons

    Number of
Shares With
Sole Voting and
Dispositive
Power		    Number of
Shares With
Shared Voting
and
Dispositive
Power		    Aggregate
Number of
Shares
Beneficially
Owned		    Percentage
of Class
Beneficially
Owned		  

Sellers Capital Master Fund, Ltd.

    0    1,947,386    1,947,386    6.46 %

Praetorian Value Fund LLC

    0    119,000    119,000    0.39 %

Sellers Capital LLC

   0    22,236    22,236    0.07 %

CUSIP No. 74051E102   13D   Page 9 of 10

(c)

 

PARTY EFFECTING TRANSACTION

    DATE    BUY /
SELL		    QUANTITY    AVERAGE
PRICE ($)		    CURRENCY

Sellers Capital Master Fund, Ltd.

   1/22/2008    BUY    12,400    5.69    USD

Sellers Capital Master Fund, Ltd.

    1/23/2008    BUY    50,000    5.43    USD

Sellers Capital Master Fund, Ltd.

    1/24/2008    BUY    100,000    5.63    USD

Sellers Capital Master Fund, Ltd.

    1/25/2008    BUY    200,000    5.61    USD

Sellers Capital Master Fund, Ltd.

    1/28/2008    BUY    138,075    5.54    USD

Sellers Capital Master Fund, Ltd.

    1/29/2008    BUY    44,645    5.85    USD

Sellers Capital Master Fund, Ltd.

    2/05/2008    BUY    9,874    5.89    USD

Sellers Capital Master Fund, Ltd.

    3/10/2008    SELL    3,000    4.65    USD

Sellers Capital Master Fund, Ltd.

    3/12/2008    BUY    52,000    4.52    USD

Sellers Capital Master Fund, Ltd.

    3/13/2008    BUY    117,002    4.67    USD

Sellers Capital Master Fund, Ltd.

    3/14/2008    BUY    212,548    4.73    USD

Sellers Capital Master Fund, Ltd.

    3/17/2008    BUY    185,222    4.69    USD

Sellers Capital Master Fund, Ltd.

    3/18/2008    BUY    56,713    4.65    USD

Sellers Capital Master Fund, Ltd.

    3/19/2008    BUY    15,495    4.93    USD

Sellers Capital LLC

   1/28/2008    BUY    425    5.57    USD

Sellers Capital LLC

   1/29/2008    BUY    355    5.88    USD

Sellers Capital LLC

   3/10/2008    BUY    3,000    4.65    USD

Sellers Capital LLC

    3/13/2008    BUY    798    4.67    USD

Sellers Capital LLC

    3/14/2008    BUY    1,552    5.28    USD

Sellers Capital LLC

    3/17/2008    BUY    1,244    4.69    USD

Sellers Capital LLC

    3/18/2008    BUY    387    4.65    USD

Sellers Capital LLC

    3/19/2008    BUY    105    4.93    USD

Praetorian Value Fund LLC

    2/15/2008    BUY    9,164    5.09    USD

Praetorian Value Fund LLC

    2/15/2008    BUY    5,836    5.13    USD

Praetorian Value Fund LLC

    2/15/2008    BUY    15,000    5.26    USD

Praetorian Value Fund LLC

    2/15/2008    BUY    10,000    4.49    USD

Praetorian Value Fund LLC

    2/19/2008    BUY    60,000    5.08    USD

Praetorian Value Fund LLC

    2/25/2008    BUY    3,000    4.88    USD

Praetorian Value Fund LLC

    2/25/2008    BUY    500    4.74    USD

Praetorian Value Fund LLC

    2/27/2008    BUY    500    5.95    USD

Praetorian Value Fund LLC

    3/14/2008    BUY    15,000    4.73    USD

(d) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, Securities beneficially owned by the Reporting Persons.

(e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

None

 

Item 7. Material To Be Filed As Exhibits.

               None

CUSIP No. 74051E102   13D   Page 10 of 10

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.

Dated: March 18, 2008

 

Sellers Capital Master Fund, Ltd .
By:  

/s/ Samuel S. Weiser

Name:   Samuel S. Weiser
Title:   Chief Operating Officer, Sellers Capital LLC, Investment Manager
Praetorian Value Fund LLC
By:  

/s/ Samuel S. Weiser

Name:   Samuel S. Weiser
Title:   Chief Operating Officer, Sellers Capital LLC, Managing Member
Sellers Capital LLC
By:  

/s/ Samuel S. Weiser

Name   Samuel S. Weiser
Title:   Chief Operating Officer
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