-----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, HWdh+y+2mRF9yrNg1XFruzrbwf3b/+XP0db+TjI/4riaNsK38H38dAYze2twEcRm Zdl5wfNiliOs3Ix6rnFByg== 0000950123-05-011801.txt : 20051004 0000950123-05-011801.hdr.sgml : 20051004 20051003184625 ACCESSION NUMBER: 0000950123-05-011801 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20051004 DATE AS OF CHANGE: 20051003 GROUP MEMBERS: WL ROSS & CO. LLC GROUP MEMBERS: WLR RECOVERY ASSOCIATES II LLC GROUP MEMBERS: WLR RECOVERY ASSOCIATES III LLC GROUP MEMBERS: WLR RECOVERY FUND II, L.P. GROUP MEMBERS: WLR RECOVERY FUND III, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SAFETY COMPONENTS INTERNATIONAL INC CENTRAL INDEX KEY: 0000918964 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 330596831 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-45337 FILM NUMBER: 051119042 BUSINESS ADDRESS: STREET 1: 41 STEVENS STREET CITY: GREENVILLE STATE: SC ZIP: 29605 BUSINESS PHONE: 8642402709 MAIL ADDRESS: STREET 1: 41 STEVENS STREET CITY: GREENVILLE STATE: SC ZIP: 29605 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ROSS WILBUR L JR CENTRAL INDEX KEY: 0001026610 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: C/O SYMS CORP STREET 2: SYMS WAY CITY: SECAUCUS STATE: NJ ZIP: 07094 MAIL ADDRESS: STREET 1: ROTHOCHILD INC STREET 2: 1251 AVENUE OF AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 SC 13D 1 y13323sc13d.txt ORIGINAL FILING ON SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES ACT OF 1934 Safety Components International, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title and Class of Securities) 786474205 - -------------------------------------------------------------------------------- (CUSIP Number) WL Ross & Co. LLC 600 Lexington Avenue New York, New York 10022 Attention: David H. Storper Facsimile Number: (212) 317-4892 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 23, 2005 - -------------------------------------------------------------------------------- (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 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 for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 13 Pages)
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 2 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WL Ross & Co. LLC (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,162,394 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 4,162,394 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,162,394 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.3% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IA - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund II, L.P. and WLR Recovery Fund III, L.P. (together, the "Funds"). The general partner of WLR Recovery Fund II, L.P. is WLR Recovery Associates II LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co., LLC is the investment advisor, of WLR Recovery Associates II LLC. The general partner of WLR Recovery Fund III, L.P. is WLR Recovery Associates III LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates III LLC. Accordingly, WL Ross & Co. LLC, the Funds, WLR Recovery Associates II LLC, WLR Recovery Associates III LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Funds. (2) The Funds are deemed to beneficially own the shares pursuant to their right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6.
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 3 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WLR Recovery Fund II, L.P. (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 241,419 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 241,419 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 241,419 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.5% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund II, L.P. (the "Fund"). The general partner of the Fund is WLR Recovery Associates II LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates II LLC. Accordingly, WL Ross & Co. LLC, WLR Recovery Associates II LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Fund. (2) The Fund is deemed to beneficially own the shares pursuant to its right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6.
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 4 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WLR Recovery Fund III, L.P. (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,920,975 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 3,920,975 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,920,975 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 72.8% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund III, L.P. (the "Fund"). The general partner of the Fund is WLR Recovery Associates III LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates III LLC. Accordingly, WL Ross & Co. LLC, WLR Recovery Associates III LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Fund. (2) The Fund is deemed to beneficially own the shares pursuant to its right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and the Fund, as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6.
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 5 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WLR Recovery Associates II LLC (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 241,419 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 241,419 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 241,419 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.5% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund II, L.P. (the "Fund") The general partner of the Fund is WLR Recovery Associates II LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates II LLC. Accordingly, WL Ross & Co. LLC, WLR Recovery Associates II LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Fund. (2) The Fund is deemed to beneficially own the shares pursuant to its right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6.
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 6 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WLR Recovery Associates III LLC (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,920,975 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 3,920,975 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,920,975 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 72.8% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund III, L.P. (the "Fund"). The general partner of the Fund is WLR Recovery Associates III LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates III LLC. Accordingly, WL Ross & Co. LLC, WLR Recovery Associates III LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Fund. (2) The Fund is deemed to beneficially own the shares pursuant to its right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and the Fund, as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6.
- ------------------------------ --------------------------------------------- CUSIP NO. 786474205 SCHEDULE 13D PAGE 7 OF 13 PAGES - ------------------ ------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wilbur L. Ross, Jr. (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------ ------------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - ------------------ ------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------- -------- --------------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,162,394 (1) (2) -------- --------------------------------------------------------------------------------------- NUMBER OF SHARES 8 SHARED VOTING POWER BENEFICIALLY -0- OWNED BY -------- --------------------------------------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH 4,162,394 (1) (2) -------- --------------------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -0- - ------------------ ------------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,162,394 (1) - ------------------ ------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------ ------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.3% - ------------------ ------------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - ------------------ -------------------------------------------------------------------------------------------------------------
(1) The shares are beneficially owned directly by WLR Recovery Fund II, L.P. and WLR Recovery Fund III, L.P. (together, the "Funds"). The general partner of WLR Recovery Fund II, L.P. is WLR Recovery Associates II LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co., LLC is the investment advisor, of WLR Recovery Associates II LLC. The general partner of WLR Recovery Fund III, L.P. is WLR Recovery Associates III LLC. Wilbur L. Ross, Jr. is the managing member, and WL Ross & Co. LLC is the investment advisor, of WLR Recovery Associates III LLC. Accordingly, WL Ross & Co. LLC, WLR Recovery Associates II LLC, WLR Recovery Associates III LLC, and Wilbur L. Ross, Jr. can be deemed to share voting and dispositive power over the shares beneficially owned directly by the Funds. (2) The Funds are deemed to beneficially own the shares pursuant to their right to acquire the shares under the Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005. See Items 4 and 6. - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D PAGE 8 OF 13 PAGES - --------------------- ------------------------ ITEM 1. SECURITY AND ISSUER. This Schedule 13D relates to the common stock, par value $0.01 per share (the "Common Stock"), of Safety Components International, Inc., a Delaware corporation (the "Issuer"). The Issuer's principal executive offices are located at 41 Stevens Street, Greenville, SC 29605. ITEM 2. IDENTITY AND BACKGROUND. (a) Names of Persons Filing: 1. WL Ross & Co. LLC 2. WLR Recovery Fund II, L.P. 3. WLR Recovery Fund III, L.P. 4. WLR Recovery Associates II LLC 5. WLR Recovery Associates III LLC 6. Wilbur L. Ross, Jr. (Each person listed above is a "Reporting Person" and collectively "Reporting Persons") (b) Address of principal business office for each of the Reporting Persons is: 600 Lexington Avenue, 19th Floor New York, New York 10022 (c) The principal occupation of each of the Reporting Persons is that of investment advisor. (d) - (e) None of the Reporting Persons, has, during the last five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) 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 See Item 6 of each cover page. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. On September 26, 2005, Zapata Corporation, a Nevada corporation ("Zapata"), WLR Recovery Fund II, L.P., a Delaware limited partnership ("WLR II), and WLR Recovery Fund III, L.P., a Delaware limited partnership ("WLR III" and collectively with WLR II, referred to as the "Funds"), entered into an Escrow Agreement (the "Escrow Agreement") with Citibank, N.A., as escrow agent (the "Escrow Agent"). Under the Escrow Agreement, Zapata deposited its stock certificate representing 4,162,394 shares of Common Stock and the Funds deposited the purchase price in respect thereof, $51,197,446 in the aggregate, from funds on hand pending the closing. ITEM 4. PURPOSE OF TRANSACTION. On September 23, 2005, Zapata entered into a Stock Purchase Agreement with WLR III to sell to WLR III all of the 4,162,394 shares the Issuer's Common Stock held by Zapata. On September 26, 2005, Zapata and the Funds entered into Amendment No. 1 and Joinder Agreement which joined WLR II as a party to the Stock Purchase Agreement. The Amendment No. 1 provides that WLR II and WLR III shall purchase 241,419 and 3,920,975 shares, respectively. The purchase price is $12.30 per share or $51,197,446 in the aggregate, which will be paid in immediately available funds at the closing of the transaction. - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D PAGE 9 OF 13 PAGES - --------------------- ------------------------ ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) See Rows 7, 9, 11 and 13 of each cover page. The percentages in Row 13 of each cover page are based on 5,385,147 shares of Common Stock that were outstanding as of August 1, 2005, as reported in the Issuer's Form 10-Q for the quarterly period ending June 30, 2005. (b) Under the Stock Purchase Agreement and Escrow Agreement described in Item 4 and 6, Zapata has the sole power to vote the Issuer's shares pending the closing of the sale to the Funds. The Stock Purchase Agreement provides that after the closing of the transaction and the issuance in the name of the Funds of certificates representing the purchased Issuer shares, Zapata will cause its representatives to resign as directors of the Issuer. After the closing and until the issuance of the certificates, Zapata is obligated to vote the Funds' nominees to the Issuer's board of directors. (c) Except as described in this Schedule 13D, none of the Reporting Persons has effected any transactions in the Common Stock during the past 60 days. (d) Under the Stock Purchase Agreement and Escrow Agreement described in Items 4 and 6, all dividends distributions declared and paid prior to the closing of the transactions contemplated thereunder are to be deposited in escrow with the Escrow Agent. The Funds are entitled to receive all such dividends or distributions upon the closing of the transaction. If the transaction is not closed and the shares are returned to Zapata, Zapata shall be entitled to receive the dividends and distribution. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. On September 23, 2005, WLR III entered into a Stock Purchase Agreement described in Item 4 above and on September 26, 2005, the Funds entered into Amendment No. 1 and Joinder Agreement also described in Item 4 above. On September 26, 2005, the Funds entered into an Escrow Agreement referred to in Item 3 above. The descriptions of the Stock Purchase Agreement, as amended, and Escrow Agreement contained in Item 4 above are incorporated by reference in this Item 6. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit 1 Agreement between WL Ross & Co. LLC, WLR Recovery Fund II, L.P., WLR Recovery Fund III, L.P., WLR Recovery Associates II LLC, WLR Recovery Associates III LLC and Wilbur L. Ross, Jr., as to joint filing of Schedule 13D. Exhibit 2 Disclaimer of Beneficial Ownership by WL Ross & Co. LLC, WLR Recovery Associates II LLC, WLR Recovery Associates III LLC and Wilbur L. Ross, Jr. Exhibit 3 Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005 (filed as Exhibit No. 1 to Amendment No. 6 to Schedule 13D, filed by Zapata Corporation on October 3, 2005, and which is hereby incorporated by reference) Exhibit 4 Escrow Agreement dated September 26, 2005 among WLR Recovery Fund II, L.P., WLR Recovery Fund III, L.P., Zapata Corporation and Citibank N.A., as escrow agent (filed as Exhibit No. 2 to Amendment No. 6 to Schedule 13D, filed by Zapata Corporation on October 3, 2005, and which is hereby incorporated by reference) - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D PAGE 10 OF 13 PAGES - --------------------- ------------------------ SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: October 3, 2005 WL Ross & Co. LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund II, L.P. By: WLR Recovery Associates II LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund III, L.P. By: WLR Recovery Associates III LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates II LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates III LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr. - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D PAGE 11 OF 13 PAGES - --------------------- ------------------------ EXHIBIT INDEX TO SCHEDULE 13D ZAPATA CORPORATION Exhibit 1 Agreement between WL Ross & Co. LLC, WLR Recovery Fund II, L.P., WLR Recovery Fund III, L.P., WLR Recovery Associates II LLC, WLR Recovery Associates III LLC and Wilbur L. Ross, Jr., as to joint filing of Schedule 13D. Exhibit 2 Disclaimer of Beneficial Ownership by WL Ross & Co. LLC, WLR Recovery Associates II LLC, WLR Recovery Associates III LLC and Wilbur L. Ross, Jr. Exhibit 3 Stock Purchase Agreement dated September 23, 2005 between Zapata Corporation and WLR Recovery Fund III, L.P., as amended by Amendment No. 1 and Joinder dated September 26, 2005 (filed as Exhibit No. 1 to Amendment No. 6 to Schedule 13D, filed by Zapata Corporation on October 3, 2005, and which is hereby incorporated by reference) Exhibit 4 Escrow Agreement dated September 26, 2005 among WLR Recovery Fund II, L.P., WLR Recovery Fund III, L.P., Zapata Corporation and Citibank N.A., as escrow agent (filed as Exhibit No. 2 to Amendment No. 6 to Schedule 13D, filed by Zapata Corporation on October 3, 2005, and which is hereby incorporated by reference) EX-99.1 2 y13323exv99w1.txt JOINT FILING AGREEMENT - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D PAGE 12 OF 13 PAGES - --------------------- ------------------------ EXHIBIT 1 AGREEMENT AS TO JOINT FILING OF SCHEDULE 13D In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree that only one statement containing the information required by Schedule 13D and any further amendments thereto need to be filed with respect to the beneficial ownership by each of the undersigned of shares of common stock of Zapata Corporation, a Nevada corporation, and further agrees that this Joint Filing Agreement be included as an exhibit to the Schedule 13D provided that, as contemplated by Section 13d-1(k)(1)(ii), no person shall be responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. This Joint Filing Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. Dated: October 3, 2005 WL Ross & Co. LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund II, L.P. By: WLR Recovery Associates II LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund III, L.P. By: WLR Recovery Associates III LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates II LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates III LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member /s/ Wilbur L. Ross, Jr. ------------------------------------------ Wilbur L. Ross, Jr. EX-99.2 3 y13323exv99w2.txt DISCLAIMER OF BENEFICIAL OWNERSHIP - --------------------- ------------------------ CUSIP NO. 786474205 SCHEDULE 13D/A PAGE 13 OF 13 PAGES - --------------------- ------------------------ EXHIBIT 2 DISCLAIMER OF BENEFICIAL OWNERSHIP Each of the undersigned disclaims beneficial ownership of the securities referred to in the Schedule 13D to which this exhibit is attached, and the filing of this Schedule 13D shall not be construed as an admission that any of the undersigned is, for the purpose of Section 13D or 13G of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by Schedule 13D. Dated: October 3, 2005 WL Ross & Co. LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund II, L.P. By: WLR Recovery Associates II LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Fund III, L.P. By: WLR Recovery Associates III LLC, its General Partner By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates II LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member WLR Recovery Associates III LLC By: /s/ Wilbur L. Ross, Jr. ------------------------------------ Wilbur L. Ross, Jr., its Managing Member /s/ Wilbur L. Ross, Jr. ------------------------------------------ Wilbur L. Ross, Jr. -----END PRIVACY-ENHANCED MESSAGE-----