-----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, S+rs0EBVDRzO51TyEgT8tJv8p6FtR/drp2rNW3cYraYZNyjBce4lPo1hgu0N4nDs DrbulpTmpwxjtsQF/FOM9w== 0000899140-06-001767.txt : 20061229 0000899140-06-001767.hdr.sgml : 20061229 20061229150227 ACCESSION NUMBER: 0000899140-06-001767 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20061229 DATE AS OF CHANGE: 20061229 GROUP MEMBERS: S.A.C. CAPITAL ASSOCIATES, LLC GROUP MEMBERS: S.A.C. CAPITAL MANAGEMENT, LLC GROUP MEMBERS: STEVEN A. COHEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WCI COMMUNITIES INC CENTRAL INDEX KEY: 0001137778 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 592857021 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-78427 FILM NUMBER: 061305561 BUSINESS ADDRESS: STREET 1: 24301 WALDEN CENTER DRIVE STREET 2: SUITE 300 CITY: BONITA SPRINGS STATE: FL ZIP: 34134 BUSINESS PHONE: 2394988605 MAIL ADDRESS: STREET 1: 24301 WALDEN CENTER DR CITY: BONITA SPRINGS STATE: FL ZIP: 34134 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SAC CAPITAL ADVISORS LLC CENTRAL INDEX KEY: 0001018103 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2036142000 MAIL ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 SC 13G 1 w3543816a.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.)* WCI Communities, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 92923C104 --------- (CUSIP Number) December 20, 2006 ----------------- (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) *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 the 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 ("Act") 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. 92923C104 13G Page 2 of 10 Pages - ------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Advisors, 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 Delaware - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ----- ---------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED 2,762,713* (see Item 4) BY ----- ---------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.5% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT - ------------------- ------------------ CUSIP No. 92923C104 13G Page 3 of 10 Pages - ------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Management, 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 Delaware - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ----- ---------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED 2,762,713* (see Item 4) BY ----- ---------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.5% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT - ------------------- ------------------ CUSIP No. 92923C104 13G Page 4 of 10 Pages - ------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Associates, 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 Anguilla, British West Indies - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ----- ---------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED 2,400,000 (see Item 4) BY ----- ---------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,400,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,400,000 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT - ------------------- ------------------ CUSIP No. 92923C104 13G Page 5 of 10 Pages - ------------------- ------------------ - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Steven A. Cohen - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ----- ---------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED 2,762,713* (see Item 4) BY ----- ---------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,762,713* (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.5% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Item 1(a) Name of Issuer: -------------- WCI Communities, Inc. Item 1(b) Address of Issuer's Principal Executive Offices: ----------------------------------------------- 24301 Walden Center Drive Bonita Springs, Florida 34134 Items 2(a) Name of Person Filing: --------------------- This statement is filed by: (i) S.A.C. Capital Advisors, LLC, ("SAC Capital Advisors") with respect to Issuer's Common Stock, par value $0.01 (the "Shares"), beneficially owned by S.A.C. Capital Associates, LLC ("SAC Capital Associates") and S.A.C. Arbitrage Fund, LLC ("SAC Arbitrage"); (ii) S.A.C. Capital Management, LLC, ("SAC Capital Management") with respect to Shares beneficially owned by SAC Capital Associates and SAC Arbitrage; (iii) SAC Capital Associates with respect to Shares beneficially owned by it; and (iv) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors, SAC Capital Management, SAC Capital Associates and SAC Arbitrage. SAC Capital Advisors, SAC Capital Management, SAC Capital Associates and Steven A. Cohen have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended. Item 2(b) Address of Principal Business Office: ------------------------------------ The address of the principal business office of (i) SAC Capital Advisors and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902 (ii) SAC Capital Management is 540 Madison Avenue, New York, New York 10022 and (iii) SAC Capital Associates is P.O. Box 58, Victoria House, The Valley, Anguilla, British West Indies. Item 2(c) Citizenship: ----------- SAC Capital Advisors and SAC Capital Management are Delaware limited liability companies. SAC Capital Associates is an Anguillan limited liability company. Mr. Cohen is a United States citizen. Page 6 of 10 Item 2(d) Title of Class of Securities: ---------------------------- Common Stock Item 2(e) CUSIP Number: ------------ 92923C104 Item 3 Not Applicable Item 4 Ownership: --------- The percentages used herein are calculated based upon the Shares issued and outstanding as of November 3, 2006 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission for the quarter ended September 30, 2006. As of the close of business on December 21, 2006: 1. S.A.C. Capital Advisors, LLC (a) Amount beneficially owned: 2,762,713* (b) Percent of class: 6.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,762,713* (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 2,762,713* 2. S.A.C. Capital Management, LLC (a) Amount beneficially owned: 2,762,713* (b) Percent of class: 6.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,762,713* (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 2,762,713* 3. S.A.C. Capital Associates, LLC (a) Amount beneficially owned: 2,400,000 (b) Percent of class: 5.7% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,400,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 2,400,000 4. Steven A. Cohen (a) Amount beneficially owned: 2,762,713* Page 7 of 10 (b) Percent of class: 6.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,762,713* (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 2,762,713* * The number of shares reported herein includes 362,713 Shares issuable upon conversion of $10 million aggregate principal amount of the Issuer's 4% Contingent Convertible Senior Subordinated Notes due 2023 held by SAC Arbitrage. SAC Capital Advisors, SAC Capital Management and Mr. Cohen do not directly own any Shares. Pursuant to investment agreements, each of SAC Capital Advisors and SAC Capital Management share all investment and voting power with respect to the securities held by SAC Capital Associates and SAC Arbitrage. Mr. Cohen controls each of SAC Capital Advisors and SAC Capital Management. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of SAC Capital Advisors, SAC Capital Management and Mr. Cohen may be deemed to own beneficially 2,762,713 Shares (representing approximately 6.5% of the Shares outstanding). Each of SAC Capital Advisors, SAC Capital Management and Mr. Cohen disclaim beneficial ownership of any of the securities covered by this statement. Item 5 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 6 Ownership of More than Five Percent on Behalf of Another -------------------------------------------------------- Person: ------ Not Applicable Item 7 Identification and Classification of the ---------------------------------------- Subsidiary Which Acquired the Security Being -------------------------------------------- Reported on By the Parent Holding Company: ----------------------------------------- Not Applicable Item 8 Identification and Classification of Members -------------------------------------------- of the Group: ------------ Page 8 of 10 Not Applicable Item 9 Notice of Dissolution of Group: ------------------------------ Not Applicable Item 10 Certification: ------------- By signing below the signatory certifies that, to the best of his 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. Page 9 of 10 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: December 29, 2006 S.A.C. CAPITAL ADVISORS, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL ASSOCIATES, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person Page 10 of 10 EX-99.1 2 w3543816b.txt JOINT FILING AGREEMENT Exhibit 99.1 JOINT FILING AGREEMENT The undersigned hereby agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: December 29, 2006 S.A.C. CAPITAL ADVISORS, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL ASSOCIATES, LLC By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ Peter Nussbaum ----------------------------------------- Name: Peter Nussbaum Title: Authorized Person -----END PRIVACY-ENHANCED MESSAGE-----