-----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, PzLnypz0Rn8MtB27cNTJMl4yqKsMZSL+thOUXF0fYU5tEZ4YBONLjjZUOwQ3Ztot Rsym0zLt3snZFJquijNcwA== 0000909450-04-000083.txt : 20041109 0000909450-04-000083.hdr.sgml : 20041109 20041109132710 ACCESSION NUMBER: 0000909450-04-000083 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20041109 DATE AS OF CHANGE: 20041109 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MODTECH HOLDINGS INC CENTRAL INDEX KEY: 0001075066 STANDARD INDUSTRIAL CLASSIFICATION: PREFABRICATED WOOD BLDGS & COMPONENTS [2452] IRS NUMBER: 330825386 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-58945 FILM NUMBER: 041128588 BUSINESS ADDRESS: STREET 1: 2830 BARRETT AVE STREET 2: PO BOX 1240 CITY: PERRIS STATE: CA ZIP: 92571 BUSINESS PHONE: 9099434014 MAIL ADDRESS: STREET 1: 4675 MACARTHUR CT., STREET 2: SUITE 710 CITY: NEWPORT STATE: CA ZIP: 92660 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0000909450 IRS NUMBER: 770210467 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 50 OSGOOD PLACE PENTHOUSE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4159811039 MAIL ADDRESS: STREET 1: 50 OSGOOD PLACE CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: GRUBER & MCBAINE CAPITAL MANAGEMENT/GRUBER JON D ET AL DATE OF NAME CHANGE: 19951108 SC 13D 1 modt13d102004.htm OMB APPROVAL

OMB APPROVAL

OMB Number: 3235-0145

Expires: December 31, 2005

Estimated average burden
hours per response. . . 15


SEC 1745 (02-02)

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. ___________)*

  

Modtech Holdings


(Name of Issuer)

Common Stock


(Title of Class of Securities)

60783C100


(CUSIP Number)


October 20, 2004

(Date of Event Which Requires Filing of this Statement)

Elizabeth D. Giorgis

Gruber and McBaine Capital Management

50 Osgood Place, Penthouse

San Francisco, CA 94133

(415) 782-2610


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 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 240.13d-1(e), 240.13d-1(f) or

240.13d-1(g), check the following box. [ ]

 

 

CUSIP No. 60783C100


 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Gruber and McBaine Capital Management, LLC.



2.

Check the Appropriate Box if a Member of a Group (See Instructions)



(a)

X



(b)

 



3.

SEC Use Only ............................................................................................................................................


4.

Source of Funds (See Instructions) ....................................................................WC


5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .................



6.

Citizenship or Place of Organization

California


Number of
Shares
Beneficially
Owned by
Each Reporting
Person With

 

 

7.

Sole Voting Power 0


8.

Shared Voting Power 2,420,017


9.

Sole Dispositive Power 0


10.

Shared Dispositive Power 2,420,017



11.

Aggregate Amount Beneficially Owned by Each Reporting Person 2,420,017



12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).................................



13.

Percent of Class Represented by Amount in Row (11) 17.47%



14.

Type of Reporting Person (See Instructions) IA & OO


 

 

CUSIP No. 60783C100


 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Jon D. Gruber



2.

Check the Appropriate Box if a Member of a Group (See Instructions)



(a)

X



(b)

 



3.

SEC Use Only ............................................................................................................................................


4.

Source of Funds (See Instructions) ....................................................................WC, PF


5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .................


6.

Citizenship or Place of Organization

California

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With

 

 

7.

Sole Voting Power 307,248


8.

Shared Voting Power 2,420,017


9.

Sole Dispositive Power 307,248


10.

Shared Dispositive Power 2,420,017



11.

Aggregate Amount Beneficially Owned by Each Reporting Person 2,727,265



12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).................................



13.

Percent of Class Represented by Amount in Row (11) 19.69%



14.

Type of Reporting Person (See Instructions) IN

CUSIP No. 60783C100


 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
J. Patterson McBaine



2.

Check the Appropriate Box if a Member of a Group (See Instructions)



(a)

X



(b)

 



3.

SEC Use Only ............................................................................................................................................


4.

Source of Funds (See Instructions) ....................................................................WC, PF


5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .................


6.

Citizenship or Place of Organization

California

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With

 

 

7.

Sole Voting Power 218,134


8.

Shared Voting Power 2,420,017


9.

Sole Dispositive Power 218,134


10.

Shared Dispositive Power 2,420,017



11.

Aggregate Amount Beneficially Owned by Each Reporting Person 2,638,151



12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).................................



13.

Percent of Class Represented by Amount in Row (11) 19.0%



14.

Type of Reporting Person (See Instructions) IN

CUSIP No. 60783C100

 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Eric B. Swergold



2.

Check the Appropriate Box if a Member of a Group (See Instructions)



(a)

X



(b)

 



3.

SEC Use Only ............................................................................................................................................


4.

Source of Funds (See Instructions) ....................................................................WC, PF


5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .................


6.

Citizenship or Place of Organization

California

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With

 

 

7.

Sole Voting Power 0


8.

Shared Voting Power 2,420,017


9.

Sole Dispositive Power 0


10.

Shared Dispositive Power 2,420,017



11.

Aggregate Amount Beneficially Owned by Each Reporting Person 2,420,017



12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).................................



13.

Percent of Class Represented by Amount in Row (11) 17.5%



14.

Type of Reporting Person (See Instructions) IN

CUSIP No. 60783C100


 

1.

Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Lagunitas Partners



2.

Check the Appropriate Box if a Member of a Group (See Instructions)



(a)

X



(b)

 



3.

SEC Use Only ............................................................................................................................................


4.

Source of Funds (See Instructions) ....................................................................WC


5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .................


6.

Citizenship or Place of Organization

California

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With

 

 

7.

Sole Voting Power 0


8.

Shared Voting Power 1,768,488


9.

Sole Dispositive Power 0


10.

Shared Dispositive Power 1,768,488



11.

Aggregate Amount Beneficially Owned by Each Reporting Person 1,768,488



12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).................................



13.

Percent of Class Represented by Amount in Row (11) 12.8%



14.

Type of Reporting Person (See Instructions) IA & OO

Item 1. SECURITY AND ISSUER

This statement relates to shares of Common Stock (the "Stock") of Modtech Holdings (MODT). The principal executive office of MODT is located at 2830 Barrett Avenue, Perris, CA 92571.

 

Item 2. IDENTITY AND BACKGROUND


a.

This form is filed by Gruber & McBaine Capital Management, LLC (GMCM), a limited liability company that is an investment adviser for client accounts and a general partner of investment limited partnerships; Jon D. Gruber (Gruber) and J. Patterson McBaine (McBaine), who are managers, members and portfolio mangers of GMCM; and Eric B Swergold (Swergold), who is a member and portfolio manager of GMCM. Lagunitas Partners, L.P., a California limited partnership (Lag).


b.

The business address of GMCM, Gruber, McBaine, Swergold, Lag is 50 Osgood Place, Penthouse, San Francisco, CA 94133


c.

GMCM is an investment adviser for client accounts and a general partner of investment partnerships, and by Gruber and McBaine as managers, members and portfolio managers of GMCM, and by Swergold as a member and portfolio manager of GMCM. Lag is an investment limited partnership. GMCM is the general partner of Lag.


d.

During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).


e.

During the last five years, none of such persons was 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.

All such persons are citizens of the United States of America.

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

The source and amount of funds used in purchasing the Stock were as follows:

Purchaser Source of Funds Amount

GMCM                                            Capital Under Management                               $425,886

Gruber Personal Funds $109,277

McBaine Personal Funds $ 88,588

Item 4. PURPOSE OF TRANSACTION

None of the Filers has any present plans or intentions to acquire or dispose of any securities of the Issuer other than on behalf of advisory clients of GMCM for the purpose of investment. Other than as described herein, none of the Filers has any present plans or proposals which relate to, or would result in, any of the transactions or events described in Item 4 of Schedule 13D.

GMCM may decide to purchase at any time or times on behalf of its advisory clients additional shares of Stock or other securities of the Issuer.  GMCM may at any time or times cause its advisory clients to dispose of any or all securities of the Issuer in any lawful manner. Advisory clients of GMCM reserve all of their rights as stockholders of the Issuer and may exercise those rights in any manner that they or GMCM consider to be in the interests of such clients.

Item 5. INTEREST IN SECURITIES OF THE ISSUER

The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: 10/20/2004

Aggregate Beneficially Owned

Voting Power
Dispositive Power

Name Number Percent

Sole Shared
Sole Shared

GMCM 2,420,017 17.47%

0                               2,420,017

0 2,420,017

Gruber 2,727,265 19.69%

307,248 2,420,017

307,248 2,420,017

McBaine 2,638,151 19.05%

218,134 1,923,588

218,134 1,923,588

Swergold 2,420,017 17.47%

0 2,420,017

0 2,420,017

Lag 1,768,488 12.77%

0 1,768,488

0 1,768,488

Name Purchase Date Number Price

Of Shares Per Share

GMCM P 10/20/2004 1500 7.29

GMCM P 10/20/2004 2500 7.39

GMCM P 10/20/2004 9500 7.39

Gruber P 10/20/2004 1250 7.29

Gruber P 10/20/2004 2500 7.39

Gruber P 10/20/2004 500 7.39

Gruber P 10/20/2004 500 7.39

Gruber P 10/20/2004 500 7.39

McBaine P 10/20/2004 1250 7.29

McBaine P 10/20/2004 1000 7.39

GMCM P 10/19/2004 1500 7.13

GMCM P 10/19/2004 5500 7.13

McBaine P 10/19/2004 1000 7.13

GMCM P 10/4/2004 1000 7.32

Gruber P 10/4/2004 1500 7.32

McBaine P 10/4/2004 2000 7.32

Gruber P 10/1/2004 500 7.34

McBaine P 10/1/2004 500 7.34

GMCM P 9/28/2004 1000 7.29

GMCM P 9/28/2004 4000 7.29

Gruber P 9/28/2004 500 7.29

McBaine P 9/28/2004 400 7.29

McBaine P 9/28/2004 400 7.29

McBaine P 9/28/2004 500 7.29

McBaine P 9/28/2004 200 7.29

GMCM P 9/16/2004 1500 7.53

GMCM P 9/16/2004 5500 7.53

Gruber P 9/16/2004 1000 7.53

Gruber P 9/16/2004 500 7.53

McBaine P 9/16/2004 1000 7.53

GMCM P 9/13/2004 1500 7.44

GMCM P 9/13/2004 6500 7.44

Gruber P 9/13/2004 2500 7.44

GMCM P 9/8/2004 6000 7.59

Gruber P 9/8/2004 2000 7.59

McBaine P 9/8/2004 2000 7.59

GMCM P 9/7/2004 500 7.59

GMCM P 9/7/2004 500 7.59

GMCM P 8/27/2004 500 7.19

GMCM P 8/27/2004 1400 7.19

McBaine P 8/27/2004 300 7.19

GMCM P 8/26/2004 1500 7.23

GMCM P 8/26/2004 5500 7.23

Gruber P 8/26/2004 1000 7.23

McBaine P 8/26/2004 1500 7.23

GMCM P 8/20/2004 400 7.33

 

 

Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

GMCM is the general partner of Lag pursuant to limited partnership agreements. These agreements provide to the general partner the authority, among other things, to invest the funds of Lag in the Stock, to vote and dispose of those securities and to file this statement on behalf of and Lag. Also pursuant to those limited partnership agreements, GMCM is entitled to fees based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to investment management agreements, GMCM is authorized, among other things, to invest funds of its various investment advisory clients, and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on thirty days notice, and provide for fees payable to GMCM based on assets under management and realized and unrealized gains, if certain conditions are met. Pursuant to authority granted to GMCM orally and under a Power of Attorney, GMCM is authorized, among oth er things, to invest funds of various relatives and affiliates of Gruber and McBaine. Such authority may be terminated at any time on notice and there are no fees payable to GMCM for those services.

Item 7. MATERIALS TO BE FILED AS EXHIBITS

A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (previously filed).

 

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.

Dated: November 5, 2004

Gruber & McBaine Capital Management, LLC

By: /s/ J. Patterson McBaine

Title: Manager

 

/s/ Jon D. Gruber

Jon D. Gruber

/s/ J. Patterson McBaine

J. Patterson McBaine

/s/ Eric B. Swergold

Eric B. Swergold

 

Attention:

Intentional misstatements or omissions of fact constitute Federal criminal violations
(See 18 U.S.C. 1001)

 

 

-----END PRIVACY-ENHANCED MESSAGE-----