-----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, VOIgAuuLZTYjT8WvlBsmpUb9J1+ibbl60apRAU9IDpylDBmKNYPuuYjULyxvpgnL 2V7q/fpszVerHVOK7SNT8g== /in/edgar/work/20000620/0000919574-00-000614/0000919574-00-000614.txt : 20000920 0000919574-00-000614.hdr.sgml : 20000920 ACCESSION NUMBER: 0000919574-00-000614 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000620 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LODGENET ENTERTAINMENT CORP CENTRAL INDEX KEY: 0000911002 STANDARD INDUSTRIAL CLASSIFICATION: [4841 ] IRS NUMBER: 460371161 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-42773 FILM NUMBER: 657923 BUSINESS ADDRESS: STREET 1: 3900 W. INNOVATION STREET CITY: SIOUX FALLS STATE: SD ZIP: 57107- BUSINESS PHONE: (605)-988-1000 MAIL ADDRESS: STREET 1: 808 WEST AVE N CITY: SIOUX FALLS STATE: SD ZIP: 57104 FORMER COMPANY: FORMER CONFORMED NAME: LNET INC DATE OF NAME CHANGE: 19930820 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: RED COAT CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001097404 STANDARD INDUSTRIAL CLASSIFICATION: [ ] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 600 THIRD AVENUE 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10016 SC 13D 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Amendment No.: * Name of Issuer: LodgeNet Entertainment Corporation Title of Class of Securities: Common Stock, $1 par value CUSIP Number: 540211109 (Name, Address and Telephone Number of Person Authorized To Receive Notices and Communications) Richard Cooperstein Red Coat Capital Management, L.L.C. 350 Park Avenue, 5th Floor New York, New York 10022 (Date of Event which Requires Filing of this Statement) January 31, 2000 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 [X] 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 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). CUSIP No.: 540211109 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Red Coat Capital Management, L.L.C. 2. Check the Appropriate Box if a Member of a Group a. b. 3. SEC Use Only 4. Source of Funds OO 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: 8. Shared Voting Power: 2,566,200 9. Sole Dispositive Power: 10. Shared Dispositive Power: 2,566,200 2 11. Aggregate Amount Beneficially Owned by Each Reporting Person 2,566,200 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row (11) 21.17% 14. Type of Reporting Person OO 3 CUSIP No.: 540211109 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Red Coat Capital Partners, L.P. 2. Check the Appropriate Box if a Member of a Group a. b. 3. SEC Use Only 4. Source of Funds 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: 8. Shared Voting Power: 1,737,964 9. Sole Dispositive Power: 10. Shared Dispositive Power: 1,737,964 4 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,737,964 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row (11) 14.34% 14. Type of Reporting Person PN 5 CUSIP No.: 540211109 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Kenneth L. Londoner 2. Check the Appropriate Box if a Member of a Group a. b. 3. SEC Use Only 4. Source of Funds OO 5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States Number of Shares Beneficially Owned by Each Reporting Person With: 7. Sole Voting Power: 8. Shared Voting Power: 2,566,200 9. Sole Dispositive Power: 10. Shared Dispositive Power: 2,566,200 6 11. Aggregate Amount Beneficially Owned by Each Reporting Person 2,566,200 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row (11) 21.17% 14. Type of Reporting Person IN 7 The purpose of this Schedule 13D is to report the ownership of Red Coat Capital Management, L.L.C. ("RCCM"), Red Coat Capital Partners, L.P. ("RCCP") and Kenneth L. Londoner (collectively, the "Reporting Persons") in the Common Stock (the "Common Stock") of LodgeNet Entertainment Corporation (the "Issuer") of 21.17%, 14.34% and 21.17%, respectively, of the outstanding Common Stock. Item 1. Security and Issuer The title of the class of equity securities to which this statement relates is: Common Stock. The name and address of the principal executive and business office of the Issuer is: LodgeNet Entertainment Corporation 3900 West Innovation Street Sioux Falls, South Dakota 57107 Item 2. Identity and Background This statement is being filed on behalf of RCCM, a Delaware limited liability corporation, RCCP, a Delaware limited partnership and Kenneth L. Londoner, together the "Reporting Persons." RCCM has investment discretion over certain private investment funds for which it serves as general partner or investment manager. RCCP, a Delaware limited partnership, is a private investment fund which is managed by RCCM. Mr. Londoner is the managing member of RCCM. The principal office of the Reporting Persons is at 350 Park Avenue, 5th Floor, New York, New York 10022. None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which resulted in 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 violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration The funds for the purchase of the Common Stock deemed to be beneficially owned by RCCM and Mr. Londoner came from the working capital of their investment management clients. The funds for the purchase of the Common Stock 8 owned by RCCP came from its own working capital. No funds were borrowed to purchase any of the Common Stock. Item 4. Purpose of Transactions The Common Stock deemed to be beneficially owned by the Reporting Persons is held for investment purposes. The Reporting Persons have not entered into any agreements or arrangements relating to the Common Stock. The Reporting Persons do not have any plan or proposal which relates to, or would result in, any of the actions enumerated in Item 4 of the instructions to the Schedule 13D. The Reporting Persons reserves the right to acquire additional Common Stock, dispose of all or some of the Common Stock from time to time, or continue to hold the Common Stock. Item 5. Interest in Securities of Issuer As of the date hereof, RCCM, RCCP and Mr. Londoner are deemed to beneficially own 2,566,200, 1,737,964 and 2,566,200 shares of the Common Stock. Based on information contained in the Issuer's Form 10-K dated March 29, 2000, as of March 22, 2000 there were 12,123,688 shares of Common Stock outstanding. Therefore, RCCM, RCCP and Mr. Londoner are deemed to beneficially own 21.17%, 14.34% and 21.17%, respectively of the outstanding shares of Common Stock. The Reporting Persons have the shared power to vote or direct the vote of all 2,566,200 shares of the Common Stock. The Reporting Persons have the power to dispose of or direct the disposition of all 2,566,200 shares of the Common Stock. All transactions in the Common Stock effected by the Reporting Persons during the sixty days prior to January 31, 2000 through the date of this filing were effected in open-market transactions and are set forth in Exhibit B hereto. The Reporting Persons may be deemed to be beneficially owners of the shares of Common Stock. Pursuant to Rule 13d-4 promulgated under the Securities Exchange Act of 1934, the Reporting Persons hereby declare that the filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons are the beneficial owners of the Common Stock. Item 6. Contracts, Arrangements, Understandings or 9 Relationships with Respect to Securities of the Issuer N/A Item 7. Material to be Filed as Exhibits 1. An agreement relating to the filing of a joint statement as required by Rule 13d-1(f) under the Securities Exchange Act of 1934 is filed herewith as Exhibit A. 2. A description of the transactions in the Common Stock that were effected by the Reporting Persons during the 60 days prior to January 31, 2000 through the date of this filing is filed herewith as Exhibit B. 10 Signature The undersigned, after reasonable inquiry and to the best of their knowledge and belief, certify that the information set forth in this statement is true, complete and correct. RED COAT CAPITAL MANAGEMENT, L.L.C. By: /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner Managing Member RED COAT CAPITAL PARTNERS, L.P. By: Red Coat Capital Management, L.L.C. General Partner By: /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner Managing Member /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner June 20, 2000 11 Exhibit A AGREEMENT The undersigned agree that this Schedule 13D dated June 20, 2000 relating to the Common Stock of LodgeNet Entertainment Corporation shall be filed on behalf of the undersigned. RED COAT CAPITAL MANAGEMENT, L.L.C. By: /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner Managing Member RED COAT CAPITAL PARTNERS, L.P. By: Red Coat Capital Management, L.L.C. General Partner By: /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner Managing Member /s/ Kenneth L. Londoner _____________________________ Kenneth L. Londoner 12 Exhibit B SCHEDULE OF TRANSACTIONS Price Per Share Date Shares Purchased or (Sold) (excluding commission) ____ __________________________ _____________________ Dec 03 1999 (500) 17.625 Dec 03 1999 (500) 17.625 Dec 03 1999 7,500 18.1658 Dec 06 1999 2,000 17.875 Dec 06 1999 (2,000) 17.5 Dec 06 1999 (4,000) 17.5 Dec 06 1999 (19,000) 17.5 Dec 07 1999 3,500 17.9554 Dec 07 1999 (1,000) 17.8056 Dec 07 1999 (2,000) 17.8056 Dec 07 1999 (2,500) 18.25 Dec 07 1999 (4,500) 17.8056 Dec 07 1999 (10,000) 17.8056 Dec 07 1999 (5,000) 17.8056 Dec 08 1999 10,000 17.4479 Dec 08 1999 5,000 17.4479 Dec 09 1999 1,000 18.5 Dec 09 1999 40,000 18.2853 Dec 09 1999 10,000 18.2853 Dec 10 1999 (1,000) 18.5 Dec 10 1999 (9,000) 18.5 Dec 13 1999 22,500 18.6806 Dec 14 1999 5,000 18.5625 Dec 15 1999 1,000 18.125 Dec 20 1999 7,000 18 Dec 20 1999 3,000 18 Dec 21 1999 2,500 18.255 Dec 22 1999 2,500 18.25 Dec 23 1999 17,000 18.3094 Dec 23 1999 3,000 18.3094 Dec 27 1999 5,000 18.4188 Dec 28 1999 5,000 19.125 Dec 28 1999 2,500 19.125 Dec 28 1999 5,000 19.125 Dec 29 1999 7,500 19.1875 Dec 29 1999 10,000 19.44 Dec 29 1999 (5,000) 20 Dec 30 1999 5,000 22.2 Dec 30 1999 25,000 22.1805 Dec 30 1999 (2,500) 22.325 Dec 30 1999 (5,000) 22.325 13 Dec 30 1999 (5,000) 22.325 Dec 30 1999 (5,000) 22.325 Dec 30 1999 (7,500) 22.325 Dec 30 1999 (25,000) 22.325 Dec 30 1999 2,500 22.2 Dec 30 1999 2,500 22.2 Dec 31 1999 11,000 24.5795 Dec 31 1999 (1,500) 23.975 Dec 31 1999 (5,000) 23.5 Dec 31 1999 (11,000) 23.975 Jan 05 2000 9,544 22.5946 Jan 05 2000 25,000 22.5946 Jan 05 2000 456 22.5946 Jan 07 2000 23,861 20.1875 Jan 07 2000 1,139 20.1875 Jan 10 2000 28,527 22.1354 Jan 10 2000 1,473 22.1354 Jan 12 2000 47,544 20.35 Jan 12 2000 2,456 20.35 Jan 13 2000 25,000 19.65 Jan 14 2000 6,656 19.9841 Jan 14 2000 600 19.9841 Jan 14 2000 20,000 19.9841 Jan 14 2000 344 19.9841 Jan 19 2000 60,000 22.1911 Jan 20 2000 7,500 24.0833 Jan 21 2000 11,411 24.4271 Jan 21 2000 10,000 24.6206 Jan 21 2000 589 24.4271 Jan 24 2000 14,263 24.0375 Jan 24 2000 10,000 24.0375 Jan 24 2000 10,000 24.4813 Jan 24 2000 737 24.0375 Jan 25 2000 5,000 24.1413 Jan 26 2000 40,000 25.1798 Jan 31 2000 25,000 23.4825 Feb 01 2000 (870) 20.7917 Feb 01 2000 (913) 22 Feb 01 2000 (1,931) 22 Feb 01 2000 (9,480) 20.4375 Feb 01 2000 (13,350) 20.7917 Feb 01 2000 (26) 22 Feb 01 2000 (130) 22 Feb 01 2000 (191) 20.7917 Feb 01 2000 (520) 20.4375 Feb 01 2000 (589) 20.7917 Feb 02 2000 469 20.5 Feb 02 2000 (4,740) 20.375 Feb 02 2000 (2,000) 20.375 Feb 02 2000 (3,000) 20.375 Feb 02 2000 31 20.5 14 Feb 02 2000 (260) 20.375 Feb 04 2000 1,407 20.99 Feb 04 2000 500 20.99 Feb 04 2000 500 20.99 Feb 04 2000 93 20.99 Feb 07 2000 6,566 21.375 Feb 07 2000 3,000 21.375 Feb 07 2000 434 21.375 Feb 08 2000 12,194 21.9766 Feb 08 2000 7,000 21.9766 Feb 08 2000 806 21.9766 Feb 09 2000 14,070 21.9688 Feb 09 2000 5,000 21.9688 Feb 09 2000 930 21.9688 Feb 10 2000 4,690 22.25 Feb 10 2000 310 22.25 Feb 14 2000 14,070 22.75 Feb 14 2000 930 22.75 Feb 15 2000 4,690 23 Feb 15 2000 5,000 22.895 Feb 15 2000 310 23 Feb 16 2000 4,690 23.55 Feb 16 2000 9,380 23 Feb 16 2000 310 23.55 Feb 16 2000 620 23 Feb 17 2000 5,816 23.9496 Feb 17 2000 384 23.9496 Feb 18 2000 4,690 24.0179 Feb 18 2000 2,000 24.0179 Feb 18 2000 310 24.0179 Feb 22 2000 4,690 24.8958 Feb 22 2000 10,000 24.8958 Feb 22 2000 310 24.8958 Feb 23 2000 (3,934) 24 Feb 23 2000 (4,690) 24 Feb 23 2000 (4,690) 24 Feb 23 2000 (4,690) 24 Feb 23 2000 (4,690) 24 Feb 23 2000 (4,690) 24 Feb 23 2000 (5,816) 24 Feb 23 2000 (8,635) 24 Feb 23 2000 (9,380) 24 Feb 23 2000 (14,070) 24 Feb 23 2000 (500) 24 Feb 23 2000 (500) 24 Feb 23 2000 (500) 24 Feb 23 2000 (600) 24 Feb 23 2000 (2,000) 24 Feb 23 2000 (2,500) 24 Feb 23 2000 (3,000) 24 Feb 23 2000 (25,000) 24.25 15 Feb 23 2000 (65) 24 Feb 23 2000 (66) 24 Feb 23 2000 (310) 24 Feb 23 2000 (310) 24 Feb 23 2000 (310) 24 Feb 23 2000 (310) 24 Feb 23 2000 (310) 24 Feb 23 2000 (384) 24 Feb 23 2000 (620) 24 Feb 23 2000 (930) 24 Feb 24 2000 9,380 25.0565 Feb 24 2000 (4,170) 24.1224 Feb 24 2000 (9,380) 24.1224 Feb 24 2000 620 25.0565 Feb 24 2000 (130) 24.1224 Feb 24 2000 (620) 24.1224 Feb 25 2000 18,760 24.8536 Feb 25 2000 22,000 24.8536 Feb 25 2000 1,240 24.8536 Feb 28 2000 9,380 25.1375 Feb 28 2000 (469) 24.5 Feb 28 2000 (569) 24.5 Feb 28 2000 (1,407) 24.5 Feb 28 2000 (6,566) 24.5 Feb 28 2000 (8,811) 25.5 Feb 28 2000 (8,875) 24.5 Feb 28 2000 (12,194) 24.5 Feb 28 2000 (14,070) 24.5 Feb 28 2000 (15,722) 24.5 Feb 28 2000 (18,760) 24.5 Feb 28 2000 (2,000) 24.5 Feb 28 2000 (5,000) 24.5 Feb 28 2000 (6,000) 24.5 Feb 28 2000 (12,000) 24.5 Feb 28 2000 620 25.1375 Feb 28 2000 (131) 24.5 Feb 28 2000 (489) 25.5 Feb 28 2000 (806) 24.5 Feb 28 2000 (913) 24.5 Feb 28 2000 (1,240) 24.5 Feb 28 2000 (1,278) 24.5 Feb 29 2000 6,566 26 Feb 29 2000 3,000 26 Feb 29 2000 434 26 Mar 01 2000 4,690 26.125 Mar 01 2000 (2,953) 26.25 Mar 01 2000 (4,690) 26.25 Mar 01 2000 (6,566) 26.25 Mar 01 2000 310 26.125 Mar 01 2000 (17) 26.25 Mar 01 2000 (30) 26.25 16 Mar 01 2000 (310) 26.25 Mar 01 2000 (434) 26.25 Mar 02 2000 2,345 24.625 Mar 02 2000 2,500 24.625 Mar 02 2000 155 24.625 Mar 03 2000 23,450 25.1375 Mar 03 2000 (9,472) 24.125 Mar 03 2000 1,550 25.1375 Mar 03 2000 (528) 24.125 Mar 09 2000 (4,735) 23 Mar 09 2000 (6,630) 23.25 Mar 09 2000 (2,000) 23.25 Mar 09 2000 (3,000) 23.25 Mar 09 2000 (265) 23 Mar 09 2000 (370) 23.25 Mar 10 2000 (2,345) 21.6667 Mar 10 2000 (2,613) 21.6667 Mar 10 2000 (14,931) 21.6667 Mar 10 2000 500 22.8125 Mar 10 2000 (2,000) 21.6667 Mar 10 2000 (7,000) 21.6667 Mar 10 2000 (31) 21.6667 Mar 10 2000 (41) 21.6667 Mar 10 2000 (93) 21.6667 Mar 10 2000 (155) 21.6667 Mar 10 2000 (387) 21.6667 Mar 10 2000 (404) 21.6667 Mar 13 2000 23,450 21.4912 Mar 13 2000 3,500 21.4912 Mar 13 2000 (2,000) 21.625 Mar 13 2000 1,550 21.4912 Mar 24 2000 1,240 19.9688 Mar 24 2000 18,760 19.9688 Mar 27 2000 20,000 21.125 Mar 27 2000 5,000 21.125 Mar 27 2000 9,380 20.5 Mar 27 2000 620 20.5 Mar 30 2000 9,380 20.25 Mar 30 2000 620 20.25 Mar 30 2000 10,000 20.25 Mar 30 2000 5,000 20.25 Mar 31 2000 7,000 20.2125 Mar 31 2000 5,500 20.2125 Apr 04 2000 14,070 19.9325 Apr 04 2000 930 19.9325 Apr 04 2000 3,000 19.9325 Apr 04 2000 9,500 19.9325 Apr 05 2000 10,000 19.4063 Apr 05 2000 10,000 19.4063 Apr 06 2000 18,760 20.2813 Apr 06 2000 1,240 20.2813 17 Apr 06 2000 10,000 20.2813 Apr 06 2000 5,000 20.2813 Apr 07 2000 6,570 22.9375 Apr 07 2000 430 22.9375 Apr 07 2000 3,000 22.9375 Apr 11 2000 5,650 22.5048 Apr 11 2000 350 22.5048 Apr 11 2000 3,000 22.5048 Apr 11 2000 4,000 22.5048 Apr 12 2000 9,415 24.5688 Apr 12 2000 585 24.5688 Apr 12 2000 5,000 24.5688 Apr 12 2000 5,000 24.5688 Apr 13 2000 1,880 23.225 Apr 13 2000 120 23.225 Apr 13 2000 2,500 23.225 Apr 13 2000 3,000 23.225 Apr 14 2000 5,649 23.8333 Apr 14 2000 351 23.8333 Apr 14 2000 3,500 23.8333 Apr 14 2000 5,500 23.8333 18 02108003.AA5 -----END PRIVACY-ENHANCED MESSAGE-----