-----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, QFqscy1JmHjbzPiMnk2/EAKkk6uwPFamk0LTlerMYBnezO/8JzxoPbspLKDERm28 mZtqlHnydYD2pPlhN9NgqQ== 0001019056-07-001062.txt : 20071106 0001019056-07-001062.hdr.sgml : 20071106 20071105214739 ACCESSION NUMBER: 0001019056-07-001062 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071106 DATE AS OF CHANGE: 20071105 GROUP MEMBERS: ASPEN ADVISORS LLC GROUP MEMBERS: ENTERASPEN LTD. GROUP MEMBERS: NIKOS HECHT GROUP MEMBERS: SOPRIS CAPITAL ADVISORS, LLC GROUP MEMBERS: SOPRIS CAPITAL, LLC GROUP MEMBERS: SOPRIS PARTNERS SERIES A, OF SOPRIS CAPITAL PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WOLVERINE TUBE INC CENTRAL INDEX KEY: 0000821407 STANDARD INDUSTRIAL CLASSIFICATION: ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350] IRS NUMBER: 630970812 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-43063 FILM NUMBER: 071215818 BUSINESS ADDRESS: STREET 1: 200 CLINTON AVENUE WEST STREET 2: SUITE 1000 CITY: HUNTSVILLE STATE: AL ZIP: 35801 BUSINESS PHONE: 2568900460 MAIL ADDRESS: STREET 1: 200 CLINTON AVENUE WEST STREET 2: SUITE 1000 CITY: HUNTSVILLE STATE: AL ZIP: 35801 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Sopris Capital Advisors LLC CENTRAL INDEX KEY: 0001386790 IRS NUMBER: 203177754 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 314 SOUTH GALENA STREET STREET 2: SUITE 300 CITY: ASPEN STATE: CO ZIP: 81611 BUSINESS PHONE: 212-698-8006 MAIL ADDRESS: STREET 1: 152 WEST 57TH STREET STREET 2: FLOOR 39 CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D 1 wolverine_13d.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (RULE 13d-101) UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ___)* INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) WOLVERINE TUBE, INC. -------------------- (Name of Issuer) Common Stock ------------ (Title of Class of Securities) 978093102 --------- (CUSIP Number) October 26, 2007 ----------------------------------------------------------------- (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), 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. *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. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ASPEN ADVISORS LLC 13-4118717 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORT- 1,529,240 ING PERSON ------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,529,240 ------------------------------------------- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,529,240 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.76% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO, IA - -------------------------------------------------------------------------------- 2 CUSIP NO. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SOPRIS CAPITAL ADVISORS, LLC 20-3177754 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORT- 7,428,319 ING PERSON ------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------- 8 SHARED DISPOSITIVE POWER 7,428,319 ------------------------------------------- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,428,319 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 18.28% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO, IA - -------------------------------------------------------------------------------- 3 CUSIP NO. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SOPRIS PARTNERS SERIES A, OF SOPRIS CAPITAL PARTNERS, L.P. 37-1520276 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORT- 5,334,683 ING PERSON ------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,334,683 ------------------------------------------- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,334,683 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.13% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- 4 CUSIP NO. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SOPRIS CAPITAL, LLC 20-3978493 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORT- 5,334,683 ING PERSON ------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,334,683 ------------------------------------------- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,334,683 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.13% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- 5 CUSIP NO. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ENTERASPEN LTD NOT APPLICABLE - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------- OWNED BY 6 SHARED VOTING POWER EACH REPORT- 3,622,876 ING PERSON ------------------------------------------- WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------- 8 SHARED DISPOSITIVE POWER 3,622,876 ------------------------------------------- - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,622,876 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.92% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO, OO - -------------------------------------------------------------------------------- 6 CUSIP NO. 978093102 13D - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON NIKOS HECHT - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES -0- BENEFICIALLY ------------------------------------------ OWNED BY 6 SHARED VOTING POWER EACH REPORT- 8,957,559 ING PERSON ------------------------------------------ WITH 7 SOLE DISPOSITIVE POWER -0- ------------------------------------------ 8 SHARED DISPOSITIVE POWER 8,957,559 ------------------------------------------ - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,957,559 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 22.05% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- 7 CUSIP NO. 978093102 13D Item 1. Security and Issuer This Statement on Schedule 13D is being filed with respect to the Common Stock (the "Common Stock") of Wolverine Tube, Inc., a Delaware corporation (the "Company"). The address of the Company's principal place of business is 200 Clinton Avenue West, Suite 1000 Huntsville, Alabama 35801. Item 2. Identity and Background (a-c) This Statement on Schedule 13D is being filed by Sopris Partners Series A, Sopris Capital Partners, LP ("Sopris Partners"), Sopris Capital, LLC ("Sopris Capital"), Aspen Advisors LLC ("Aspen Advisors"), Sopris Capital Advisors, LLC ("Sopris Advisors"), EnterAspen Ltd. ("EnterAspen") and Nikos Hecht (each a "Reporting Person" and collectively, the "Reporting Persons"). The principal business office of Aspen Advisors is 152 West 57th Street, New York, NY, 10019. The principal business office of each of Sopris Partners, Sopris Advisors, Sopris Capital and Mr. Hecht is 314 S. Galena Street, Suite 300, Aspen, CO 81611. The principal business office of EnterAspen is Scotiabank Building, 3rd Floor, 6 Cardinall Avenue, Cayman Islands. Sopris Partners is a Delaware limited partnership and a private investment partnership, investing principally in securities of distressed companies. Sopris Capital is a Delaware limited liability company, the business of which is acting as the general partner of Sopris Partners. Each of Aspen Advisors and Sopris Advisors is a Delaware limited liability company, the business of which is investment management for affiliated partnerships and funds, including Sopris Partners, and a limited number of institutional and other large private investors. Such private investors include EnterAspen, a Cayman Islands Exempted Company. Mr. Hecht is the managing member of Aspen Advisors and Sopris Advisors and is the sole member of the managing member of Sopris Capital, and is engaged, through Aspen Advisors and Sopris Advisors, in the business of organizing private investment partnerships and providing investment management to such partnerships and other institutional and private investors. As the managing member of Aspen Advisors and Sopris Advisors, the sole member of the managing member of Sopris Capital and the owner of a majority of the membership interests in each of Aspen Advisors, Sopris Advisors and Sopris Capital, Mr. Hecht may be deemed to be the controlling person of Aspen Advisors, Sopris Advisors and Sopris Capital and, through Sopris Capital, Sopris Partners. (d) Criminal Proceedings During the last five years, none of the Reporting Persons and, to the knowledge of the Reporting Persons, no executive officer or director of any of the Reporting Persons, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). 8 CUSIP NO. 978093102 13D (e) Civil Securities Law Proceedings During the last five years, none of the Reporting Persons and, to the knowledge of the Reporting Persons, no executive officer or director of any of the Reporting Persons, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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. (f) Citizenship Mr. Hecht is a citizen of the United States. EnterAspen is a Cayman Islands Exempted Company. Each of the other Reporting Persons is a Delaware private investment partnership or limited liability company, as applicable. Item 3. Source and Amount of Funds or Other Consideration The Reporting Persons used $8,815,686 of available working capital to finance the acquisition of the Company's Common Stock. Item 4. Purpose of Transaction The shares of Common Stock owned or deemed to be beneficially owned by the Reporting Persons were acquired for investment purposes. The Reporting Persons currently have no plan or proposal which relates to, or would result in, any of the actions enumerated in Item 4 of the instructions to Schedule 13D. Item 5. Interest in Securities of the Issuer (a, b) (i) Amount beneficially owned: Sopris Partners and Sopris Capital: 5,334,683 Aspen Advisors: 1,529,240 Sopris Advisors: 7,428,319 EnterAspen: 3,622,876 Mr. Hecht: 8,957,559 (ii) Percent of class: Sopris Partners and Sopris Capital: 13.13% Aspen Advisors: 3.76% Sopris Advisors: 18.28% EnterAspen: 8.92% Mr. Hecht: 22.05% 9 CUSIP NO. 978093102 13D (iii) Number of shares as to which the person has: (A) Sole power to vote or to direct the vote: Sopris Partners and Sopris Capital: -0- Aspen Advisors: -0- Sopris Advisors: -0- EnterAspen: -0- Mr. Hecht: -0- (B) Shared power to vote or to direct the vote: Sopris Partners and Sopris Capital: 5,334,683 Aspen Advisors: 1,529,240 Sopris Advisors: 7,428,319 EnterAspen: 3,622,876 Mr. Hecht: 8,957,559 (C) Sole power to dispose or to direct the disposition of: Sopris Partners and Sopris Capital: -0- Aspen Advisors: -0- Sopris Advisors: -0- EnterAspen: -0- Mr. Hecht: -0- (D) Shared power to dispose or to direct the disposition of: Sopris Partners and Sopris Capital: 5,334,683 Aspen Advisors: 1,529,240 Sopris Advisors: 7,428,319 EnterAspen: 3,622,876 Mr. Hecht: 8,957,559 Of the shares reported as beneficially owned in this Schedule 13D, 5,334,683 shares are owned directly by Sopris Partners and 1,529,240 shares are owned by private clients of Aspen Advisors and 2,093,636 shares are owned by private clients of Sopris Advisors. Of the shares reported as owned by private clients of Aspen Advisors and Sopris Advisors, 3,622,876 are owned by EnterAspen, 1,529,240 are owned through an account managed by Aspen Advisors and 2,093,636 are owned through an account managed by Sopris Advisors. Sopris Capital is the general partner of Sopris Partners and, as such, may be deemed to share beneficial ownership of the Common Stock owned directly by Sopris Partners. Each of Aspen Advisors and Sopris Advisors is an Attorney-in-Fact of EnterAspen. Mr. Hecht is the managing member of each of Aspen Advisors and of Sopris Advisors and 10 CUSIP NO. 978093102 13D the sole member of the managing member of Sopris Capital. As the managing member of Aspen Advisors and Sopris Advisors, the sole member of the managing member of Sopris Capital and the owner of a majority of the membership interests in each of Sopris Capital, Aspen Advisors and of Sopris Advisors, Mr. Hecht may be deemed to be the controlling person of Sopris Capital, Aspen Advisors and of Sopris Advisors, and through Sopris Capital, Sopris Partners. Each of Aspen Advisors and Sopris Advisors, as investment manager for their respective private clients, and with respect to Sopris Advisors, also as investment manager for Sopris Partners, has discretionary investment authority over the Common Stock held by their respective private clients and Sopris Partners, as applicable. Accordingly, Mr. Hecht may be deemed to be the beneficial owner of the Common Stock held by Sopris Partners and the private clients of Aspen Advisors and Sopris Advisors. Each of Sopris Partners and Sopris Capital disclaims any beneficial interest in the Common Stock owned by the accounts managed by Sopris Advisors and Aspen Advisors. (c) On September 12, 2007, the Reporting Persons received 740,000 subscription rights pursuant to a subscription rights offering which expired on October 29, 2007 (the "Rights Offering"). Pursuant to the terms of the Rights Offering, each Reporting Person received one subscription right for each share of Common Stock owned at the close of business on August 28, 2007. In addition, the Reporting Persons acquired an additional 1,120,008 subscription rights and 750,500 subscription rights in open market transactions on October 23, 2007 and October 26, 2007, respectively. Each subscription right entitled the Reporting Persons to purchase 3.07 shares of the Company's common stock at a price of $1.10 per share. Pursuant to the exercise of these subscription rights on October 5, 2007, October 26, 2007 and October 29, 2007, the Reporting Persons acquired an aggregate of 8,014,259 shares of Common Stock as set forth below: Sopris Partners and Sopris Capital: 4,779,683 Aspen Advisors: 1,356,940 Sopris Advisors: 6,657,319 EnterAspen: 3,234,576 Mr. Hecht: 8,014,259 (d) The various private accounts of which Aspen Advisors and Sopris Advisors serves as investment manager have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Common Stock of the Company. Such private accounts include EnterAspen, a Reporting Person, which owns 8.92% of the Common Stock of the Company. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings, or Relationships with respect to Securities of the Issuer Not applicable. 11 CUSIP NO. 978093102 13D Item 7. Material to be Filed as Exhibits Exhibit A Joint Filing Agreement, dated as of November 5, 2007, by and among the Reporting Persons. Exhibit B Form of Subscription Rights Certificate of Wolverine Tube, Inc. (which is incorporated herein by reference to Exhibit 4.4 of the Issuer's Registration Statement on Form S-1/A filed on August 31, 2007 (No. 333-142209)). 12 SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information in this statement is true, complete and correct. Dated: November 5, 2007 SOPRIS PARTNERS SERIES A, OF SOPRIS CAPITAL PARTNERS, L.P. By: SOPRIS CAPITAL, LLC Its general partner By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member SOPRIS CAPITAL, LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member ASPEN ADVISORS LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Managing Member SOPRIS CAPITAL ADVISORS, LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Managing Member ENTERASPEN LTD. By: ASPEN ADVISORS LLC Its Attorney-in-fact By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member /s/ Nikos Hecht ----------------------------------------- Nikos Hecht 13 EXHIBIT A JOINT FILING AGREEMENT The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that he or it knows or has reason to believe that such information is accurate. Dated this 5th day of November, 2007. SOPRIS PARTNERS SERIES A, OF SOPRIS CAPITAL PARTNERS, L.P. By: SOPRIS CAPITAL, LLC Its general partner By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member SOPRIS CAPITAL, LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member ASPEN ADVISORS LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Managing Member 14 SOPRIS CAPITAL ADVISORS, LLC By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Managing Member ENTERASPEN LTD. By: ASPEN ADVISORS LLC Its Attorney-in-fact By: /s/ Nikos Hecht ----------------------------------------- Name: Nikos Hecht Title: Sole Member of the Managing Member /s/ Nikos Hecht ----------------------------------------- Nikos Hecht 15 -----END PRIVACY-ENHANCED MESSAGE-----