-----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, TDO9mAZ6JLCNqmitR1V6ut9zz784jBtmu09E/dLVMXxkELKyIt/Yu9TP7S+VyFDi Iz/tIf5VkAtU1JEv4/eSVA== 0001072613-07-001199.txt : 20070517 0001072613-07-001199.hdr.sgml : 20070517 20070517144644 ACCESSION NUMBER: 0001072613-07-001199 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070517 DATE AS OF CHANGE: 20070517 GROUP MEMBERS: STEPHEN ERRICO SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KAPSTONE PAPER & PACKAGING CORP CENTRAL INDEX KEY: 0001325281 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 202699372 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-80945 FILM NUMBER: 07860912 BUSINESS ADDRESS: STREET 1: C/O STONE-KAPLAN INVESTMENTS, LLC STREET 2: ONE NORTHFIELD PLAZA, SUITE 480 CITY: NORTHFIELD STATE: IL ZIP: 60093 BUSINESS PHONE: 847-441-0929 MAIL ADDRESS: STREET 1: C/O STONE-KAPLAN INVESTMENTS, LLC, STREET 2: ONE NORTHFIELD PLAZA, SUITE 480 CITY: NORTHFIELD STATE: IL ZIP: 60093 FORMER COMPANY: FORMER CONFORMED NAME: KapStone Paper & Packaging CORP DATE OF NAME CHANGE: 20070104 FORMER COMPANY: FORMER CONFORMED NAME: Stone Arcade Acquisition CORP DATE OF NAME CHANGE: 20050428 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LOCUST WOOD CAPITAL ADVISERS, LLC CENTRAL INDEX KEY: 0001349434 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1540 BROADWAY STREET 2: SUITE 1504 CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-354-0193 MAIL ADDRESS: STREET 1: 1540 BROADWAY STREET 2: SUITE 1504 CITY: NEW YORK STATE: NY ZIP: 10036 SC 13G 1 sc13g_15172.txt LOCUST WOOD CAPITAL ADVISERS, LLC SC 13G ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ____________ SCHEDULE 13G (RULE 13D-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13D-1(B), (C), AND (D) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2 Kapstone Paper and Packaging Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.001 par value per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 48562P 10 3 - -------------------------------------------------------------------------------- (CUSIP Number) May 11, 2007 - -------------------------------------------------------------------------------- (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) ================================================================================ =================== ================= CUSIP NO. 48562P103 13G PAGE 2 OF 8 PAGES =================== ================= ================================================================================ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Locust Wood Capital Advisers, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Locust Wood Capital Advisers, LLC is a Delaware limited liability company - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF 1,337,000* SHARES ----- ---------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 0 REPORTING ----- ---------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 1,337,000* ----- ---------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,337,000* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES 5.4% of aggregate voting power - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IA ================================================================================ - ----------------- * Includes 493,000 shares of common stock issuable upon exercise of warrants. =================== ================= CUSIP NO. 48562P103 13G PAGE 3 OF 8 PAGES =================== ================= ================================================================================ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Stephen Errico** - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER NUMBER OF 1,337,000* SHARES ----- ---------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 0 REPORTING ----- ---------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH 1,337,000* ----- ---------------------------------------------- 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,337,000* - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES 5.4% of aggregate voting power - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN ================================================================================ - ----------------- * Includes 493,000 shares of common stock issuable upon exercise of warrants. ** Mr. Errico is the managing member and sole beneficial owner of Locust Wood Advisers, LLC. =================== ================= CUSIP NO. 48562P103 13G PAGE 4 OF 8 PAGES =================== ================= ITEM 1(A). NAME OF ISSUER: Kapstone Paper and Packaging Corporation ------------------------------------------------------------------ ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: c/o Stone-Kaplan Investments, LLC One Northfield Plaza, Suite 480 Northfield, Illinois, 60093 ------------------------------------------------------------------ ITEM 1(C). NAME OF PERSON FILING: Locust Wood Advisers, LLC and Stephen Errico. Mr. Errico is the managing member and sole beneficial owner of Locust Wood Advisers, LLC. ------------------------------------------------------------------ ITEM 1(D). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 1540 Broadway, Suite 1504 New York, New York 10036 ------------------------------------------------------------------ ITEM 1(E). CITIZENSHIP: Locust Wood Capital Advisers, LLC is a Delaware limited liability company; Stephen Errico is a United States citizen. ------------------------------------------------------------------ ITEM 1(F). TITLE OF CLASS OF SECURITIES: Common Stock ------------------------------------------------------------------ ITEM 1(G). CUSIP NUMBER: 48562P 10 3 ------------------------------------------------------------------ =================== ================= CUSIP NO. 48562P103 13G PAGE 5 OF 8 PAGES =================== ================= ITEM 2. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A: Not applicable. ------------------------------------------------------------------ =================== ================= CUSIP NO. 48562P103 13G PAGE 6 OF 8 PAGES =================== ================= ITEM 3. OWNERSHIP. (a) Amount beneficially owned: 1,337,000* (b) Percent of class: 5.4% of aggregate voting power as of May 11, 2007 (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 1,337,000* (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,337,000* (iv) Shared power to dispose or to direct the disposition of: 0 - ----------------- * Includes 493,000 shares of common stock issuable upon exercise of warrants. =================== ================= CUSIP NO. 48562P103 13G PAGE 7 OF 8 PAGES =================== ================= ITEM 4. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. ITEM 5. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Locust Wood Capital Advisers, LLC represents two investment funds and five managed accounts that, to the extent they own the shares described in Item 4 above, would receive proceeds from the sale of the securities. ITEM 6. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. Not Applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not Applicable. ITEM 8. NOTICE OF DISSOLUTION OF GROUP. Not Applicable. ITEM 9. CERTIFICATION. By signing below I certify that, to the best of my 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. =================== ================= CUSIP NO. 48562P103 13G PAGE 8 OF 8 PAGES =================== ================= 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. May 17, 2007 ----------------------------------------- (Date) LOCUST WOOD ADVISERS, LLC By: /s/ Stephen Errico -------------------------------------- Name: Stephen Errico Title: Managing Member /s/ Stephen Errico ----------------------------------------- Stephen Errico -----END PRIVACY-ENHANCED MESSAGE-----