sec document

-----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, TXLh4UItLSgoU4jVXF72mtBVzVrszomNcOx6cChYKJE4URKZMIgxgRKhAOr/RKnF dl1uMn6dxyASq73Jdte0kw== 0000921895-01-500510.txt : 20020411 0000921895-01-500510.hdr.sgml : 20020411 ACCESSION NUMBER: 0000921895-01-500510 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20011115 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STEEL PARTNERS II L P CENTRAL INDEX KEY: 0000915653 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 150 EAST 52ND STREET STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-813-1500 MAIL ADDRESS: STREET 1: 150 EAST 52ND STREET, 21ST FLOOR CITY: NY STATE: NY ZIP: 10022 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: STAMPS COM INC CENTRAL INDEX KEY: 0001082923 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CATALOG & MAIL-ORDER HOUSES [5961] IRS NUMBER: 770454966 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-58035 FILM NUMBER: 1792661 BUSINESS ADDRESS: STREET 1: 3420 OCEAN PARK BOULEVARD STREET 2: SUITE 1040 CITY: SANTA MONICA STATE: CA ZIP: 90405 BUSINESS PHONE: 3105817200 MAIL ADDRESS: STREET 1: 2900 31ST STREET SUITE 150 CITY: SANTA MONICA STATE: CA ZIP: 90405 SC 13D 1 form13dsci01874_11152001.htm sec document
                       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)

                                (Amendment No. )1

                                 STAMPS.COM INC.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                          COMMON STOCK, $.001 PAR VALUE
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   852857 10 1
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

                              STEVEN WOLOSKY, ESQ.
               OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
                                 505 Park Avenue
                            New York, New York 10022
                                 (212) 753-7200
- --------------------------------------------------------------------------------
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                November 5, 2001
- --------------------------------------------------------------------------------
             (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 10 Pages)

- --------
     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).




- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 2 of 10 Pages
- ------------------------------                     -----------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                                  STEEL PARTNERS II, L.P.
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) |_|
                                                                         (b) |_|
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         SOURCE OF FUNDS*
                     WC
- --------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 |_|
- --------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     DELAWARE
- --------------------------------------------------------------------------------
 NUMBER OF         7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    3,519,976
  OWNED BY
    EACH
 REPORTING
PERSON WITH    -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                                -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                                3,519,976
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                                -0-
- --------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     3,519,976
- --------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
               CERTAIN SHARES*                                               |_|
- --------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     6.9%
- --------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON*

                     PN
================================================================================

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!








- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 3 of 10 Pages
- ------------------------------                     -----------------------------


================================================================================
     1         NAME OF REPORTING PERSONS
               I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                                  WARREN G. LICHTENSTEIN
- --------------------------------------------------------------------------------
     2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) |_|
                                                                         (b) |_|
- --------------------------------------------------------------------------------
     3         SEC USE ONLY

- --------------------------------------------------------------------------------
     4         SOURCE OF FUNDS*
                     OO
- --------------------------------------------------------------------------------
     5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
               PURSUANT TO ITEM 2(d) OR 2(e)                                 |_|
- --------------------------------------------------------------------------------
     6         CITIZENSHIP OR PLACE OF ORGANIZATION

                     USA
- --------------------------------------------------------------------------------
 NUMBER OF         7      SOLE VOTING POWER
   SHARES
BENEFICIALLY                    3,519,976
  OWNED BY
    EACH
 REPORTING
PERSON WITH    -----------------------------------------------------------------
                   8      SHARED VOTING POWER

                                -0-
               -----------------------------------------------------------------
                   9      SOLE DISPOSITIVE POWER

                                3,519,976
               -----------------------------------------------------------------
                  10      SHARED DISPOSITIVE POWER

                                -0-
- --------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
               PERSON

                     3,519,976
- --------------------------------------------------------------------------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
               CERTAIN SHARES*                                               |_|
- --------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                     6.9%
- --------------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON*

                     IN
================================================================================

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!






- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 4 of 10 Pages
- ------------------------------                     -----------------------------




            The following  constitutes the Schedule 13D filed by the undersigned
(the "Schedule 13D").

Item 1.          Security and Issuer.
                 -------------------

                 This  statement  relates to shares (the "Shares") of the common
stock,  $.001 par value per share  ("Common  Stock"),  of  Stamps.com  Inc. (the
"Issuer").  The  principal  executive  offices of the Issuer are located at 3420
Ocean Park Boulevard, Suite 1040, Santa Monica, California 90405.

Item 2.          Identity and Background.
                 -----------------------

                 (a) This  Statement  is filed by Steel  Partners  II,  L.P.,  a
Delaware limited partnership ("Steel Partners II"), and Warren G. Lichtenstein.

                 Steel Partners,  L.L.C., a Delaware limited  liability  company
("Partners  LLC"),  is the  general  partner  of  Steel  Partners  II.  The sole
executive  officer and managing  member of Partners LLC is Warren  Lichtenstein,
who is Chairman of the Board, Chief Executive Officer and Secretary.

                 Each of the foregoing  are referred to as a "Reporting  Person"
and  collectively  as the  "Reporting  Persons".  By virtue of his position with
Steel  Partners  II, Mr.  Lichtenstein  has the power to vote and dispose of the
Issuer's Shares owned by Steel Partners II.  Accordingly,  the Reporting Persons
are hereby filing a joint Schedule 13D.

                 (b) The principal  business address of each Reporting Person is
150 East 52nd Street, 21st Floor, New York, New York 10022.

                 (c) The principal business of Steel Partners II is investing in
the  securities  of  small  cap  companies.  The  principal  occupation  of  Mr.
Lichtenstein is investing in the securities of small cap companies.

                 (d) No Reporting  Person has, during the last five years,  been
convicted in a criminal  proceeding  (excluding  traffic  violations  or similar
misdemeanors).

                 (e) No Reporting  Person has, during the last five years,  been
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.





- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 5 of 10 Pages
- ------------------------------                     -----------------------------



                 (f) Mr.  Lichtenstein  is a  citizen  of the  United  States of
America.

Item 3.          Source and Amount of Funds or Other Consideration.
                 -------------------------------------------------

                 The aggregate  purchase price of the 3,519,976 Shares of Common
Stock owned by Steel Partners II is $9,831,498. The Shares of Common Stock owned
by Steel Partners II were acquired with partnership funds.

Item 4.          Purpose of Transaction.
                 ----------------------

                 The  Reporting  Persons  purchased  the  Shares  based  on  the
Reporting  Persons'  belief  that  the  Shares  at  current  market  prices  are
undervalued and represent an attractive investment  opportunity.  Depending upon
overall  market  conditions,  other  investment  opportunities  available to the
Reporting Persons, and the availability of Shares of Common Stock at prices that
would make the purchase of additional  Shares  desirable,  the Reporting Persons
may  endeavor to increase  their  position  in the Issuer  through,  among other
things,  the purchase of Shares of Common Stock on the open market or in private
transactions  or  otherwise,  on such terms and at such  times as the  Reporting
Persons may deem advisable.

                 No  Reporting  Person has any present  plan or  proposal  which
would relate to or result in any of the matters set forth in subparagraphs (a) -
(j) of Item 4 of Schedule  13D except as set forth herein or such as would occur
upon  completion of any of the actions  discussed  above.  Each of the Reporting
Persons intends to review its investment in the Issuer on a continuing basis and
engage in discussions  with  management and the Board of Directors of the Issuer
concerning the business, operations,  litigation matters and future plans of the
Issuer. Depending on various factors including, without limitation, the Issuer's
financial  position  and  investment  strategy,  the price  levels of the Common
Stock,  conditions  in the  securities  market,  general  economic  and industry
conditions and the Issuer's litigation exposure with regard to its products, the
Reporting  Persons  may in the  future  take such  actions  with  respect to its
investment in the Issuer as it deems appropriate including,  without limitation,
communicating  with other  stockholders,  seeking Board  representation,  making
proposals to the Issuer  concerning  the  capitalization  and  operations of the
Issuer,  purchasing  additional Shares of Common Stock or selling some or all of
its  Shares or to change  its  intention  with  respect  to any and all  matters
referred to in Item 4.






- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 6 of 10 Pages
- ------------------------------                     -----------------------------



Item 5.         Interest in Securities of the Issuer.
                ------------------------------------

                 (a) The aggregate percentage of Shares of Common Stock reported
owned by each person named herein is based upon 50,650,386  Shares  outstanding,
which is the total number of Shares of Common Stock  outstanding  as reported in
the  Issuer's  Quarterly  Report  on Form  10-Q  for the  fiscal  quarter  ended
September 30, 2001.

                 As of the  close  of  business  on  November  14,  2001,  Steel
Partners II beneficially  owned 3,519,976  Shares of Common Stock,  constituting
approximately  6.9% of the Shares  outstanding.  Mr.  Lichtenstein  beneficially
owned  3,519,976  Shares,   constituting   approximately   6.9%  of  the  Shares
outstanding. Mr. Lichtenstein has sole voting and dispositive power with respect
to the 3,519,976 Shares owned by Steel Partners II by virtue of his authority to
vote and dispose of such Shares. All of such Shares were acquired in open-market
transactions, except for 150,000 Shares which were transferred to Steel Partners
II directly from the account of a foreign  investment  fund which was previously
managed on a discretionary basis by Steel Partners Services,  Ltd., an affiliate
of Steel Partners II, pursuant to an investment management agreement.

                 (b) By virtue of his  positions  with  Steel  Partners  II, Mr.
Lichtenstein  has the sole power to vote and  dispose of the Shares  reported in
this Schedule 13D.

                 (c)  Schedule A annexed  hereto lists all  transactions  in the
Issuer's Common Stock during the past sixty days by the Reporting Persons.

                 (d) No person other than the Reporting Persons is known to have
the right to receive,  or the power to direct the receipt of dividends  from, or
proceeds from the sale of, such Shares of the Common Stock.

                 (e) Not applicable.

Item 6.          Contracts, Arrangements, Understandings or Relationships
                 With Respect to Securities of the Issuer.
                 ----------------------------------------

                 Other  than  as  described  herein,  there  are  no  contracts,
arrangements  or  understandings  among the  Reporting  Persons,  or between the
Reporting  Persons and any other Person,  with respect to the  securities of the
Issuer.

Item 7.          Material to be Filed as Exhibits.
                 --------------------------------

                 1.    Joint Filing Agreement.






- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 7 of 10 Pages
- ------------------------------                     -----------------------------



                                   SIGNATURES


            After  reasonable  inquiry  and to the  best  of his  knowledge  and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.


Dated:  November 14, 2001                      STEEL PARTNERS II, L.P.

                                               By: Steel Partners, L.L.C.
                                                   General Partner


                                               By: /s/ Warren G. Lichtenstein
                                                   ----------------------------
                                                   Warren G. Lichtenstein
                                                   Chief Executive Officer


                                               /s/ Warren G. Lichtenstein
                                               ------------------------------
                                               WARREN G. LICHTENSTEIN






- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 8 of 10 Pages
- ------------------------------                     -----------------------------



                                   SCHEDULE A

               Transactions in the Shares During the Past 60 Days
               --------------------------------------------------

Shares of Common Stock                Price Per              Date of
       Purchased                      Share($)               Purchase
      -----------                    ----------             ----------

                             STEEL PARTNERS II, L.P.
                             -----------------------

         500,000                      3.02000               11/05/01
         206,500                      2.98170               11/06/01
          80,200                      2.98050               11/07/01
         172,515                      2.99000               11/08/01
          18,900                      2.98320               11/09/01
          11,590                      2.83750               11/12/01
           2,000                      2.73000               11/13/01
           8,295                      2.63000               11/14/01

                               WARREN LICHTENSTEIN
                               -------------------
                                      None





- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 9 of 10 Pages
- ------------------------------                     -----------------------------


                                  EXHIBIT INDEX



Exhibit                                                                  Page
- -------                                                                  ----
1.          Joint Filing Agreement                                        10







- ------------------------------                     -----------------------------
CUSIP No. 852857 10 1                 13D             Page 10 of 10 Pages
- ------------------------------                     -----------------------------


                             JOINT FILING AGREEMENT


            In  accordance  with  Rule  13d-1(k)(1)(iii)  under  the  Securities
Exchange  Act of 1934,  as amended,  the persons  named below agree to the joint
filing on behalf of each of them of a Statement on Schedule  13D dated  November
14, 2001  (including  amendments  thereto)  with  respect to the Common Stock of
Stamps.com Inc. This Joint Filing Agreement shall be filed as an Exhibit to such
Statement.

Dated:  November 14, 2001                    STEEL PARTNERS II, L.P.

                                             By:  Steel Partners, L.L.C.
                                                  General Partner


                                             By: /s/ Warren G. Lichtenstein
                                                 ---------------------------
                                                 Warren G. Lichtenstein
                                                 Chief Executive Officer


                                             /s/ Warren G. Lichtenstein
                                             ------------------------------
                                             WARREN G. LICHTENSTEIN
-----END PRIVACY-ENHANCED MESSAGE-----