0000902664-05-000118.txt : 20120629
0000902664-05-000118.hdr.sgml : 20120629
20050125172026
ACCESSION NUMBER: 0000902664-05-000118
CONFORMED SUBMISSION TYPE: SC 13G
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050125
DATE AS OF CHANGE: 20050125
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: WET SEAL INC
CENTRAL INDEX KEY: 0000863456
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621]
IRS NUMBER: 330415940
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0131
FILING VALUES:
FORM TYPE: SC 13G
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-41525
FILM NUMBER: 05547814
BUSINESS ADDRESS:
STREET 1: 26972 BURBANK
CITY: FOOTHILL RANCH
STATE: CA
ZIP: 92610
BUSINESS PHONE: 7145839029
MAIL ADDRESS:
STREET 1: 26972 BURBANK
CITY: FOOTHILL RANCH
STATE: CA
ZIP: 92610
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: SMITHFIELD FIDUCIARY LLC
CENTRAL INDEX KEY: 0001141111
STATE OF INCORPORATION: E9
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
BUSINESS ADDRESS:
STREET 1: THE ANCHORAGE CENTRE, 2ND FLOOR
STREET 2: HARBOUR DRIVE, GEORGE TOWN
CITY: GRAND CAYMAN
STATE: E9
ZIP: 00000
BUSINESS PHONE: 3459451400
MAIL ADDRESS:
STREET 1: P.O. BOX 30554
STREET 2: SEVEN MILE BEACH
CITY: GRAND CAYMAN
STATE: E9
ZIP: 00000
SC 13G
1
srz9801981v2.txt
THE WET SEAL, INC.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
The Wet Seal, Inc.
------------------------------------------------------
(Name of Issuer)
CLASS A COMMON STOCK
------------------------------------------------------
(Title of Class of Securities)
961840105
------------------------------------------------------
(CUSIP NUMBER)
January 14, 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:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] 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 ("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).
Page 1 of 13 Pages
CUSIP No. 961840105 13G Page 2 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Smithfield Fiduciary LLC
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock(See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 3 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge International LLC
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 4 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Corporation
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
BD
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 5 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Management, LLC 20-1901985
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 6 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Glenn Dubin
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 7 of 13 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Henry Swieca
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
warrants and convertible notes to acquire 3,846,905
shares of Class A Common Stock (See Item 4(a))
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.99% (See Item 4(b))
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 961840105 13G Page 8 of 13 Pages
Item 1.
(a) Name of Issuer
The Wet Seal, Inc., a Delaware corporation (the "Company").
(b) Address of Issuer's Principal Executive Offices:
26972 Burbank
Foothill Ranch, California 92610
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
Smithfield Fiduciary LLC
The Cayman Corporate Center, 4th Floor
27 Hospital Road
George Town, Grand Cayman
Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
Highbridge International LLC
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
George Town, Grand Cayman
Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
Highbridge Capital Corporation
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
George Town, Grand Cayman
Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: State of Delaware
Glenn Dubin
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
Henry Swieca
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
(d) Title of Class of Securities
Class A Common Stock, par value $0.10 per share ("Class A Common Stock")
CUSIP No. 961840105 13G Page 9 of 13 Pages
(e) CUSIP Number
961840105
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
Item 4. Ownership
(a) Amount Beneficially Owned
Subject to the Ownership Limitation (defined below), as of the date of
this filing, each Reporting Person may be deemed the beneficial owner of (i)
2,244,509 shares of Class A Common Stock currently issuable to Smithfield
Fiduciary LLC upon the exercise of certain warrants (the "Warrants") and (ii)
3,947,415 shares of Class A Common Stock currently issuable to Smithfield
Fiduciary LLC upon the conversion of certain secured convertible notes in the
aggregate principal amount of $5,921,123 (the "Notes").
The number of shares of Class A Common Stock into which the Warrants and
the Notes are exercisable or convertible, as applicable, is limited pursuant to
the terms of the Warrants and the Notes to that number of shares of Class A
Common Stock which would result in Smithfield Fiduciary LLC having aggregate
beneficial ownership of not more than 9.99% of the total issued and outstanding
shares of Class A Common Stock (the "Ownership Limitation"). Therefore, the
percent of class beneficially owned by the Reporting Persons is limited to
9.99%.
CUSIP No. 961840105 13G Page 10 of 13 Pages
In accordance with the Ownership Limitation, as of the date of this
filing, each Reporting Person may be deemed the beneficial owner of 3,846,905
shares of Class A Common Stock. (Based on the Company's Definitive Proxy
Statement filed on December 14, 2004, there were 34,660,657 shares of Class A
Common Stock outstanding as of December 9, 2004. In addition, 3,846,905 shares
of Class A Common Stock are currently issuable to Smithfield Fiduciary LLC
pursuant to the terms of the Warrants and the Notes without causing Smithfield
Fiduciary LLC's aggregate beneficial ownership to exceed the Ownership
Limitation.)
Highbridge Capital Management, LLC is the trading manager
of Highbridge International LLC and Highbridge Capital Corporation. Glenn Dubin
is a Managing Partner of Highbridge Capital Management, LLC. Henry Swieca is a
Managing Partner of Highbridge Capital Management, LLC. Smithfield Fiduciary LLC
is a wholly-owned subsidiary of Highbridge International LLC which is a
wholly-owned subsidiary of Highbridge Capital Corporation, a broker/dealer.
(b) Percent of Class
9.99% (see Item 4(a) above).
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote
3,846,905 shares of Class A Common Stock
(iii) Sole power to dispose or to direct the disposition of
-0-
(iv) Shared power to dispose or to direct the disposition of
3,846,905 shares of Class A Common Stock
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
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
See Exhibit I.
Item 9. Notice of Dissolution of Group
Not applicable
CUSIP No. 961840105 13G Page 11 of 13 Pages
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of its
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 I: Joint Filing Agreement, dated as of January 25, 2005, by and among
Smithfield Fiduciary LLC, Highbridge International LLC, Highbridge Capital
Corporation, Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca.
CUSIP No. 961840105 13G Page 12 of 13 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth in
this statement is true, complete, and correct.
Dated: January 25, 2005
SMITHFIELD FIDUCIARY LLC HIGHBRIDGE INTERNATIONAL LLC
By: /s/ Howard Feitelberg By: /s/ Howard Feitelberg
--------------------- ---------------------
Name: Howard Feitelberg Name: Howard Feitelberg
Title: Director Title: Director
HIGHBRIDGE CAPITAL CORPORATION HIGHBRIDGE CAPITAL MANAGEMENT, LLC
By: /s/ Howard Feitelberg By: /s/ Ronald S. Resnick
--------------------- ---------------------
Name: Howard Feitelberg Name: Ronald S. Resnick
Title: Controller Title: Managing Director
/s/ Glenn Dubin /s/ Henry Swieca
-------------------- ---------------------
GLENN DUBIN HENRY SWIECA
CUSIP No. 961840105 13G Page 13 of 13 Pages
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Class
A Common Stock, par value $0.10 per share, of The Wet Seal, Inc., a Delaware
corporation, is being filed, and all amendments thereto will be filed, on behalf
of each of the persons and entities named below in accordance with Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.
Dated: January 25, 2005
SMITHFIELD FIDUCIARY LLC HIGHBRIDGE INTERNATIONAL LLC
By: /s/ Howard Feitelberg By: /s/ Howard Feitelberg
--------------------- ---------------------
Name: Howard Feitelberg Name: Howard Feitelberg
Title: Director Title: Director
HIGHBRIDGE CAPITAL CORPORATION HIGHBRIDGE CAPITAL MANAGEMENT, LLC
By: /s/ Howard Feitelberg By: /s/ Ronald S. Resnick
--------------------- ---------------------
Name: Howard Feitelberg Name: Ronald S. Resnick
Title: Controller Title: Managing Director
/s/ Glenn Dubin /s/ Henry Swieca
-------------------- ---------------------
GLENN DUBIN HENRY SWIECA