-----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, NocM4FgKOPcaaDqKyzDjHb7BHiYGbDc76StYxLZ+HwAt3BnuupVmWE6uGypYBbLP 7CPSzrTGqrv25UoHtT58CA== 0000950123-05-006823.txt : 20050611 0000950123-05-006823.hdr.sgml : 20050611 20050527102931 ACCESSION NUMBER: 0000950123-05-006823 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050527 DATE AS OF CHANGE: 20050527 GROUP MEMBERS: LAMPE CONWAY & CO LLC GROUP MEMBERS: LC CAPITAL ADVISORS LLC GROUP MEMBERS: LC CAPITAL INTERNATIONAL LLC GROUP MEMBERS: LC CAPITAL PARTNERS LP GROUP MEMBERS: RICHARD F CONWAY GROUP MEMBERS: STEVEN G LAMPE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PATHMARK STORES INC CENTRAL INDEX KEY: 0000095585 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 222879612 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59707 FILM NUMBER: 05861847 BUSINESS ADDRESS: STREET 1: 200 MILIK STREET CITY: CARTERET STATE: NJ ZIP: 07008 BUSINESS PHONE: 9084993000 MAIL ADDRESS: STREET 1: 200 MILIK STREET CITY: CARTERET STATE: NJ ZIP: 07008 FORMER COMPANY: FORMER CONFORMED NAME: SUPERMARKETS GENERAL CORP DATE OF NAME CHANGE: 19930809 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LC CAPITAL MASTER FUND LTD CENTRAL INDEX KEY: 0001222051 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O LAMPE CONWAY & CO LLC STREET 2: 730 FIFTH AVENUE STE 1002 CITY: NEW YORK STATE: NY ZIP: 10019-4105 BUSINESS PHONE: 2125818989 SC 13D/A 1 y09533sc13dza.txt AMENDMENT NO. 2 TO SCHEDULE 13D - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (RULE 13D-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(a)(1) (AMENDMENT NO. 2) PATHMARK STORES, INC. (Name of Issuer) COMMON STOCK, PAR VALUE $0.01 (Title of Class of Securities) 70322A101 (CUSIP Number) LAMPE, CONWAY & CO., LLC 680 FIFTH AVENUE SUITE 1202 NEW YORK, NEW YORK 10019 (212) 581-8989 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) MAY 25, 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. --------------------- (1) 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 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). - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 1 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) LC Capital Master Fund, Ltd. - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 WC - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 Cayman Islands - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,252,246 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,252,246 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,252,246 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.2% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 CO - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT! 1 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 2 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) LC Capital Partners, LP - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,252,246 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,252,246 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,252,246 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.2% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 PN, HC - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT! 2 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 3 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) LC Capital Advisors LLC - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,252,246 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,252,246 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,252,246 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.2% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 OO, HC - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT! 3 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 4 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Lampe, Conway & Co., LLC - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,330,331 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,330,331 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,330,331 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.4% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 OO, IV - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT! 4 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 5 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) LC Capital International LLC - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,252,246 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,252,246 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,252,246 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.2% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 OO, IA - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTION BEFORE FILLING OUT! 5 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 6 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Steven G. Lampe - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,330,331 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,330,331 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,330,331 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.4% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IN - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTION BEFORE FILING OUT! 6 of 7 Pages SCHEDULE 13D - ------------------------- ---------------------- CUSIP No. 70322A101 Page 7 of 7 Pages - ------------------------- ----------------------
- ---------------------------------------------------------------------------------------------------------- NAME OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Richard F. Conway - ---------------------------------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] 2 (b) [X] - ---------------------------------------------------------------------------------------------------------- SEC USE ONLY 3 - ---------------------------------------------------------------------------------------------------------- SOURCE OF FUNDS* 4 AF - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 5 PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------------------------------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States - ---------------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7 -0- ----------------------------------------------------------------- SHARED VOTING POWER 8 1,330,331 ----------------------------------------------------------------- SOLE DISPOSITIVE POWER 9 -0- ----------------------------------------------------------------- SHARED DISPOSITIVE POWER 10 1,330,331 - ---------------------------------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 11 PERSON 1,330,331 - ---------------------------------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 12 CERTAIN SHARES [ ]* - ---------------------------------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.4% - ---------------------------------------------------------------------------------------------------------- TYPE OF REPORTING PERSON 14 IN - ----------------------------------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT! 7 of 7 Pages CUSIP NO. 70322A101 LC Capital Master Fund, Ltd. (the "Master Fund"), LC Capital Partners, LP ("Partners"), LC Capital Advisors LLC ("Advisors"), Lampe, Conway & Co., LLC ("LC&C"), LC Capital International LLC ("International"), Steven G. Lampe ("Lampe") and Richard F. Conway ("Conway"), (each of the Master Fund, Partners, Advisors, LC&C, International, Lampe and Conway may be referred to herein as a "Reporting Person" and collectively may be referred to as "Reporting Persons") hereby amend the report on Schedule 13D regarding shares of common stock, par value $0.01, of Pathmark Stores, Inc., originally filed on October 29, 2004, as further amended on May 11, 2005 (collectively with this Amendment No. 2, the "Schedule 13D"). Unless otherwise indicated, capitalized terms used but not defined herein shall have the same meanings assigned to them in Schedule 13D. ITEM 2. IDENTITY AND BACKGROUND. Item 2 is hereby amended by revising the third paragraph thereof to change the number of Shares directly held by the Master Fund from "1,824,527" to "1,252,246", and by revising the fifth paragraph thereof to change the number of Shares directly held by the Managed Account from "108,085" to "78,085". ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Item 3 is hereby amended and restated as follows: As of the date hereof, the Master Fund, Partners, Advisors and International may be deemed to beneficially own 1,252,246 Shares; and LC&C, Lampe and Conway may be deemed to beneficially own 1,330,331 Shares. The funds used for the acquisition of the Shares came from the working capital of the Master Fund and the Managed Account. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes in the ordinary course of business. ITEM 4. PURPOSE OF TRANSACTION Item 4 is hereby amended and supplemented by adding the following: The Reporting Persons have attached as Exhibit 1 to this Schedule 13D the letter, dated May 26, 2005 (the "May 26(th) Letter"), from LC&C to the Chairman of the Board of the Issuer. The May 26(th) Letter sets forth the Reporting Persons' continued concern regarding the proposed transaction among the Issuer and certain Yucaipa entities and that the Reporting Persons intend to vote against the transaction at the special meeting of stockholders on June 9(th). The May 26(th) Letter also notes that Institutional Shareholder Services, the world's leading provider of proxy voting and corporate governance services, has concerns similar to the Reporting Persons' and has recommended that stockholders vote against the Yucaipa transaction. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 is hereby amended and restated as follows: (a, b) As of the date hereof, the Master Fund, Partners, Advisors and International may each be deemed to beneficially own 1,252,246 Shares, constituting 4.2% of the outstanding shares of the Issuer, based upon the 30,071,192 shares outstanding as of May 6, 2005, according to the Issuer's proxy statement filed on that date. The Master Fund, Partners, Advisors and International each have the sole power to vote or direct the vote of 0 Shares; have the shared power to vote or direct the vote of 1,252,246 Shares; have the sole power to dispose or direct the disposition of 0 Shares; and have the shared power to dispose or direct the disposition of 1,252,246 Shares. The Master Fund, Partners, Advisors and International each specifically disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein. As of the date hereof, LC&C, Lampe and Conway may each be deemed to beneficially own 1,330,331 Shares, constituting 4.4% of the outstanding shares of the Issuer, based upon the 30,071,192 shares outstanding as of May 6, 2005, according to the Issuer's proxy statement filed on that date. LC&C, Lampe and Conway each have the sole power to vote or direct the vote of 0 Shares; have the shared power to vote or direct the vote of 1,330,331 Shares; have the sole power to dispose or direct the disposition of 0 Shares; and have the shared power to dispose or direct the disposition of 1,330,331 Shares. LC&C, Lampe and Conway each specifically disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein. (c) The trading dates, number of Shares purchased and sold and price per share for all transactions in the Shares during the past 60 days by the Reporting Persons are set forth in Annex A and were all effected in broker transactions. (d) Not applicable. (e) On May 25, 2005, the Reporting Persons ceased to be the beneficial owners of more than five percent of the outstanding shares of the Issuer's common stock. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit 1: Letter from LC&C to Mr. James L. Moody, Jr. dated May 26, 2005. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. LC Capital Master Fund, Ltd.* By: /s/ Richard F. Conway ------------------------------------ Name: Richard F. Conway Title: Director LC Capital Partners, LP* By: LC Capital Advisors LLC, its General Partner By: /s/ Richard F. Conway ------------------------------------ Name: Richard F. Conway Title: Managing Member LC Capital Advisors LLC* By: /s/ Richard F. Conway ------------------------------------ Name: Richard F. Conway Title: Managing Member Lampe, Conway & Co., LLC* By: /s/ Richard F. Conway ------------------------------------ Name: Richard F. Conway Title: Managing Member LC Capital International LLC* By: /s/ Richard F. Conway ------------------------------------ Name: Richard F. Conway Title: Managing Member By: /s/ Steven G. Lampe* ------------------------------------ Name: Steven G. Lampe* By: /s/ Richard F. Conway* ------------------------------------ Name: Richard F. Conway* May 27, 2005 - --------------- * The Reporting Persons disclaim beneficial ownership in the shares reported herein except to the extent of their pecuniary interest therein. Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). ANNEX A TRANSACTIONS IN THE SHARES TRANSACTIONS BY LC CAPITAL MASTER FUND, LTD
NUMBER OF SHARES DATE OF TRANSACTION PURCHASED/(SOLD) PRICE OF SHARES ($) - ------------------- ---------------- ------------------- 5/23/05.............................................. (74,419) 9.08 5/24/05.............................................. (60,559) 9.27 5/24/05.............................................. 2,000 9.20 5/25/05.............................................. (325,000) 9.32 5/25/05.............................................. (161,901) 9.30 5/25/05.............................................. 2,898 9.34 5/26/05.............................................. (33,500) 9.40 5/26/05.............................................. (9,900) 9.24 5/26/05.............................................. 5,000 9.15
TRANSACTIONS BY INSTITUTIONAL BENCHMARKS MASTER FUND, LTD.
NUMBER OF SHARES DATE OF TRANSACTION PURCHASED/(SOLD) PRICE OF SHARES ($) - ------------------- ---------------- ------------------- 5/24/05.............................................. (5,000) 9.27 5/25/05.............................................. (25,000) 9.32
A-1 EX-99.1 2 y09533exv99w1.txt LETTER EXHIBIT 1 [LAMPE, CONWAY & CO. LLC LETTERHEAD] MAY 26, 2005 MR. JAMES L. MOODY, JR. CHAIRMAN OF THE BOARD PATHMARK STORES, INC. 200 MILIK STREET CARTERET, NEW JERSEY 07008 Dear Mr. Moody: Two weeks ago we wrote to you regarding the proxy statement (the "Proxy Statement") that was filed by Pathmark Stores, Inc. (the "Company") with the Securities and Exchange Commission on May 6, 2005 in connection with the transaction (the "Transaction") contemplated by the Securities Purchase Agreement, dated as of March 23, 2005, among various Yucaipa entities and the Company. We requested that the Company's board allow the bidders to discuss their proposals for acquiring the Company with us and other shareholders. We are disappointed that you refused that request and that the Company has failed to provide adequate disclosure regarding the auction process that led to the proposed Transaction and a rejection of higher alternative bids. Based on the Company's continued inadequate disclosure, our current intention is to vote against the Transaction at the June 9(th) special meeting. We are pleased to find support for our position from Institutional Shareholder Services ("ISS"), the world's leading provider of proxy voting and corporate governance services, which has recommended that shareholders vote against the Transaction. Specifically, ISS stated that: "Based on [its] review of the terms of the transaction and the factors described [in its analysis], in particular concerns regarding the bidding process, specifically with respect to a higher alternate bid and the lack of a good explanation for the board's decisions in the proxy statement, [ISS does] not believe that the company presented a compelling case that it extracted the maximum value for shareholders from the bidding process. [ISS does] not recommend in favor of this transaction." We would welcome, particularly in light of ISS's recommendation to vote against the Transaction, your reconsideration of our request that the bidders be released from any confidentiality obligations to the extent necessary to facilitate a discussion with us and other shareholders. Very truly yours, LAMPE, CONWAY & CO. LLC By: ------------------------------------ Name: Richard F. Conway Title: Managing Member -----END PRIVACY-ENHANCED MESSAGE-----