-----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, EftAy64HF7JxDXX3l4bIKKjqGPySppW6N3R3TZJk3zVC5CPMXPqNIlQEgiFAYcqC GRx/k/GCYv0ribudflcuaw== 0000950142-07-000341.txt : 20070202 0000950142-07-000341.hdr.sgml : 20070202 20070201201906 ACCESSION NUMBER: 0000950142-07-000341 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070202 DATE AS OF CHANGE: 20070201 GROUP MEMBERS: GLADWYNE CATALYST GENPAR, LLC GROUP MEMBERS: INVEMED CATALYST FUND, L.P. GROUP MEMBERS: INVEMED CATALYST GENPAR, LLC GROUP MEMBERS: INVEMED SECURITIES, INC. GROUP MEMBERS: KENNETH G. LANGONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMBASSADORS GROUP INC CENTRAL INDEX KEY: 0001162315 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 911957010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78137 FILM NUMBER: 07573568 BUSINESS ADDRESS: STREET 1: 110 SOUTH FERRALL STREET CITY: SPOKANE STATE: WA ZIP: 99202 BUSINESS PHONE: 5095346200 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INVEMED CATALYST FUND LP CENTRAL INDEX KEY: 0001085006 IRS NUMBER: 134051375 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 375 PARK AVE STREET 2: STE 2205 CITY: NEW YORK STATE: NY ZIP: 10152 BUSINESS PHONE: 2128430542 MAIL ADDRESS: STREET 1: 375 PARK AVE STREET 2: STE 2205 CITY: NEW YORK STATE: NY ZIP: 10152 SC 13D/A 1 sc13da1-ambass.txt AMENDMENT NO. 1 ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ SCHEDULE 13D (Rule 13d-102) Under the Securities Exchange Act of 1934 (Amendment No. 1)* ________________________ AMBASSADORS GROUP, INC. (Name of Issuer) COMMON STOCK, PAR VALUE $0.01 PER SHARE (Title of Class of Securities) 023177-10-8 (CUSIP Number) MS. SUZANNE M. PRESENT INVEMED CATALYST FUND, L.P. 375 PARK AVENUE SUITE 2205 NEW YORK, NY 10152 TEL. NO.: (212) 843-0542 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ________________________ FEBRUARY 1, 2007 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 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-1(a) for other parties to whom copies are to be sent. *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 ("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. 023177-10-8 Page 2 of 11 - ---------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Invemed Catalyst Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 1,199,999 shares of Common Stock, SHARES par value $0.01 BENEFICIALLY OWNED ------------------------------------------------ BY EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 1,199,999 shares of Common Stock, par value $0.01 ------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 3 of 11 - ---------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Invemed Catalyst GenPar, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 1,199,999 shares of Common Stock, SHARES par value $0.01 BENEFICIALLY OWNED ------------------------------------------------ BY EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 1,199,999 shares of Common Stock, par value $0.01 ------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 4 of 11 - ---------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gladwyne Catalyst GenPar, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF None SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING 1,199,999 shares of Common Stock, PERSON par value $0.01 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 5 of 11 - ---------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Invemed Securities, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF None SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING 1,199,999 shares of Common Stock, PERSON par value $0.01 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 6 of 11 - ---------------------------------- ----------------------------------- - -------------------------------------------------------------------------------- NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Kenneth G. Langone - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF None SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING 1,199,999 shares of Common Stock, PERSON par value $0.01 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,199,999 shares of Common Stock, par value $0.01 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 7 of 11 - ---------------------------------- ----------------------------------- ITEM 1. SECURITY AND ISSUER. This Amendment No. 1 to Schedule 13D ("Amendment No. 1") is filed by the undersigned to amend and supplement the Schedule 13D, dated July 30, 2003 (the "Statement"), with respect to the shares of common stock, par value $0.01 per share (the "Common Stock"), of Ambassadors Group, Inc., a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 110 S. Ferrall Street, Spokane, WA 99202. ITEM 2. IDENTITY AND BACKGROUND. Item 2 is hereby amended and restated in its entirety as follows: (a) Invemed Catalyst Fund, L.P., a Delaware limited partnership (the "Fund"), Invemed Catalyst GenPar, LLC, a Delaware limited liability company ("Catalyst GenPar"), Gladwyne Catalyst GenPar, LLC, a Delaware limited liability company ("Gladwyne GenPar"), Invemed Securities, Inc. ("Invemed"), a New York corporation, and Kenneth G. Langone ("Langone") are sometimes hereinafter collectively referred to as the "Reporting Persons." The Reporting Persons are making this joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, although neither the fact of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Persons that a group exists. (b)-(c) (i) The principal business of the Fund is investing in securities. The business address of the Fund is 375 Park Avenue, Suite 2205, New York, New York 10152. The general partner of the Fund is Catalyst GenPar. The principal business of Catalyst GenPar is being the general partner of the Fund. (ii) The business address of Catalyst GenPar is 375 Park Avenue, Suite 2205, New York, NY 10152. The managing members of Catalyst GenPar are Gladwyne GenPar and Invemed. (iii) The principal business of Gladwyne GenPar is being a managing member of Catalyst GenPar. The business address of Gladwyne GenPar is 645 Fifth Avenue #700, New York, NY 10022. The name, residence or business address, present principal occupation and citizenship of each member of Gladwyne GenPar are as follows:
- ------------------------------------------------------------------------------------------------------------- RESIDENCE OR NAME BUSINESS ADDRESS PRINCIPAL OCCUPATION CITIZENSHIP - ------------------------------------------------------------------------------------------------------------- Michael B. Solomon 645 Fifth Avenue #700 Managing Member of United States New York, NY 10022 Gladwyne GenPar - ------------------------------------------------------------------------------------------------------------- Suzanne M. Present 645 Fifth Avenue #700 Member of Gladwyne GenPar Australia New York, NY 10022 - -------------------------------------------------------------------------------------------------------------
- ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 8 of 11 - ---------------------------------- -----------------------------------
- ------------------------------------------------------------------------------------------------------------- RESIDENCE OR NAME BUSINESS ADDRESS PRINCIPAL OCCUPATION CITIZENSHIP - ------------------------------------------------------------------------------------------------------------- Kathryn Casoria 645 Fifth Avenue #700 Member of Gladwyne GenPar United States New York, NY 10022 - -------------------------------------------------------------------------------------------------------------
(iv) Invemed's principal business is that of a holding company. The business address of Invemed is 375 Park Avenue, Suite 2205, New York, NY 10152. Invemed is ultimately controlled by Kenneth G. Langone. The name, current business address, present principal occupation or employment and citizenship of each director and executive officer of Invemed Securities, Inc. are as follows:
- ------------------------------------------------------------------------------------------------------------- RESIDENCE OR NAME BUSINESS ADDRESS PRINCIPAL OCCUPATION CITIZENSHIP - ------------------------------------------------------------------------------------------------------------- Kenneth G. Langone 375 Park Avenue Chairman of the Board and United States Suite 2205 President, New York, NY 10152 Invemed Securities, Inc. - ------------------------------------------------------------------------------------------------------------- Thomas Teague Salem NationalLease President, Salem United States Corporation NationalLease Corporation P.O. Box 24788 Winston-Salem, NC 27114 - ------------------------------------------------------------------------------------------------------------- Steven D. Holzman 375 Park Avenue Chief Executive Officer, United States Suite 2205 Invemed Securities, Inc. New York, NY 10152 - ------------------------------------------------------------------------------------------------------------- G. Allen Mebane 828 Woodward Road United States Mocksville, NC 27028 - ------------------------------------------------------------------------------------------------------------- John Baran 375 Park Avenue Chief Financial Officer, United States Suite 2205 Invemed Securities, Inc. New York, NY 10152 - -------------------------------------------------------------------------------------------------------------
(v) Kenneth G. Langone's current principal occupation is that of Chief Executive Officer of Invemed, and his business address is 375 Park Avenue, Suite 2205, New York, NY 10152. (d)-(e) None of the Reporting Persons and none of the individuals listed in this Item 2 has, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) 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 prohibited or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 9 of 11 - ---------------------------------- ----------------------------------- ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Item 3 is hereby amended to include the following paragraph at the end: Pursuant to a Stock Purchase Agreement (the "Stock Purchase Agreement"), dated as of January 29, 2007, between the Issuer and Invemed Catalyst Fund, L.P. (the "Fund"), the Issuer repurchased 1,200,001 shares of Common Stock from the Fund for an aggregate purchase price in cash of $32,952,027.46, representing a purchase price of $27.46 per share. The repurchase was completed on February 1, 2007. ITEM 4. PURPOSE OF TRANSACTION. Item 4(a) is hereby amended to include the following paragraph at the end: (a) Pursuant to the Stock Purchase Agreement, the Issuer repurchased 1,200,001 shares of Common Stock from the Fund for an aggregate purchase price in cash of $32,952,027.46, representing a purchase price of $27.46 per share. The repurchase was completed on February 1, 2007. Item 4(d) is hereby amended to include the following paragraph at the end: (d) Pursuant to the Stock Purchase Agreement, a letter agreement (the "Letter Agreement"), dated as of July 29, 2003, between the Issuer and the Fund, which provided for, among other things, certain rights of the Fund to designate a member of the Issuer's board of directors, was terminated, and the Fund will no longer have the right to designate a member of the Issuer's board of directors. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5(a) is hereby amended to include the following paragraph at the end: (a) Pursuant to the Stock Purchase Agreement, the Issuer repurchased 1,200,001 shares of Common Stock from the Fund for an aggregate purchase price in cash of $32,952,027.46, representing a purchase price of $27.46 per share. The repurchase was completed on February 1, 2007. As of the date of this Amendment, the Fund beneficially owns 1,199,999 shares of Common Stock constituting 6.1% of the outstanding shares of Common Stock of the Issuer (the percentage of shares owned is calculated based upon 20,786,892 shares of Common Stock outstanding as of October 25, 2006, as disclosed in the Issuer's Form 10-Q for the quarter ended September 30, 2006 filed by the Issuer on November 9, 2006). Each of the persons listed in Item 2 of the Statement as amended by this Amendment may also be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the 1,199,999 shares of Common Stock constituting 6.1% of the outstanding shares of Common Stock of the Issuer. However, the persons listed on Item 2 of the Statement as amended by this Amendment (other than the Fund) disclaim beneficial ownership of such shares of Common Stock. - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 10 of 11 - ---------------------------------- ----------------------------------- Item 5(b) is hereby amended and restated in its entirety as follows: (b) The Fund has sole power to vote and dispose the 1,199,999 shares of Common Stock reported herein. Catalyst GenPar, as the general partner of the Fund, has the sole power to vote and dispose of the 1,199,999 shares of Common Stock owned by the Fund. Each of Gladwyne GenPar and Invemed, as managing members of Catalyst GenPar, may be deemed to have shared voting and dispositive power over the shares of Common Stock owned by the Fund. Kenneth G. Langone, as the majority shareholder and Chairman of the Board and President of Invemed, may be deemed to have shared voting and dispositive power over the shares of Common Stock owned by the Fund. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH RESPECT TO THE ISSUER. Item 6 is hereby amended to include the following paragraphs at the end: Pursuant to the Stock Purchase Agreement, the Issuer repurchased 1,200,001 shares of Common Stock from the Fund for an aggregate purchase price in cash of $32,952,027.46, representing a purchase price of $27.46 per share. The repurchase was completed on February 1, 2007. Pursuant to the Stock Purchase Agreement, the Letter Agreement, which provided for, among other things, certain rights of the Fund to designate a member of the Issuer's board of directors, was terminated, and the Fund will no longer have the right to designate a member of the Issuer's board of directors. The foregoing summary of the Stock Purchase Agreement is qualified in its entirety by reference to Exhibit 6 which is incorporated herein by reference. ITEM 7. MATERIALS TO BE FILED AS EXHIBITS. Exhibit 1:* Agreement relating to the filing of joint acquisition statements as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. Exhibit 2:* Stock Purchase Agreement, dated as of July 23, 2003, between the Fund and the Sellers. Exhibit 3:* Letter Agreement, dated as of July 29, 2003, between the Issuer and the Fund. Exhibit 4:* Registration Rights Agreement, dated as of July 29, 2003, between the Issuer and the Fund. Exhibit 5: Stock Purchase Agreement, dated as of January 29, 2007, between the Issuer and the Fund. * Previously filed. - ---------------------------------- ----------------------------------- CUSIP NO. 023177-10-8 Page 11 of 11 - ---------------------------------- ----------------------------------- 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 as of February 1, 2007 INVEMED CATALYST FUND, L.P. By: INVEMED CATALYST GENPAR, LLC, General Partner By: GLADWYNE CATALYST GENPAR, LLC, Managing Member By: /s/ Suzanne M. Present ------------------------------- Name: Suzanne M. Present Title: Member INVEMED CATALYST GENPAR, LLC By: GLADWYNE CATALYST GENPAR, LLC, Managing Member By: /s/ Suzanne M. Present ----------------------------------- Name: Suzanne M. Present Title: Member GLADWYNE CATALYST GENPAR, LLC By: /s/ Suzanne M. Present --------------------------------------- Name: Suzanne M. Present Title: Member INVEMED SECURITIES, INC. By: /s/ Kenneth G. Langone --------------------------------------- Name: Kenneth G. Langone Title: Chairman of the Board and President /s/ Kenneth G. Langone ------------------------------------------- Kenneth G. Langone EX-99 2 ex-5sc13da1_ambass.txt EXHIBIT 5.1 EXHIBIT 5 --------- STOCK PURCHASE AGREEMENT This STOCK PURCHASE AGREEMENT (this "AGREEMENT") is made and entered into as of January 29, 2007, by and between Ambassadors Group, Inc., a Delaware Corporation (the "PURCHASER"), and Invemed Catalyst Fund, L.P., a Delaware limited partnership (the "SELLER"), with reference to the following: WHEREAS, the Seller owns shares of common stock in the Purchaser, par value $0.01 per share; and WHEREAS, the Seller desires to sell to the Purchaser, and the Purchaser desires to purchase from the Seller, 1,200,001 of such shares ("SHARES"). NOW, THEREFORE, in consideration of the conditions and promises herein contained, and subject to the terms and conditions of this Agreement, the parties hereto agree as follows: 1. SALE, PURCHASE AND CLOSING. 1.1 At the Closing (defined herein) and subject to the terms and conditions of this Agreement, the Purchaser agrees to purchase from the Seller, and the Seller agrees to sell to the Purchaser, all right, title and interest in the Shares. 1.2 At the Closing, the Purchaser shall pay an aggregate purchase price of $32,952,027.46 (the "PURCHASE PRICE"), constituting $27.46 per Share. 1.3 The purchase and sale of the Shares (the "CLOSING") shall take place at 2:00 p.m. (local time) on February 1, 2007 ("CLOSING DATE"), at the offices of Loeb & Loeb LLP, 10100 Santa Monica Boulevard, Los Angeles, California 90067, or at such other place and time as the Seller and the Purchaser shall mutually agree. 2. REPRESENTATIONS AND WARRANTIES OF SELLERS. The Seller represents and warrants the following: 2.1 The Seller is the owner of record and holds good and valid title to the Shares, and the Shares are free of any and all liens, encumbrances, mortgages, deeds of trust, pledge, assignment, security interests or transfer restrictions other than those specified herein. 2.2 The Seller has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby including, without limitation, the authority to transfer the Shares to the Purchaser, and has taken all necessary action to authorize the execution, delivery and performance of this Agreement. 3. REPRESENTATIONS AND WARRANTIES OF PURCHASER. The Purchaser represents and warrants to each and all of the Sellers as follows: 3.1 The Purchaser has all requisite power and authority (corporate and otherwise) to execute, deliver and perform this Agreement and the transactions contemplated hereby, and the execution, delivery and performance by the Purchaser of this Agreement has been duly authorized by all requisite action by the Purchaser. 3.2 The Purchaser acknowledges and agrees that neither the Seller, nor any of its respective representatives, affiliates and/or agents, has made any representation or warranty to the Purchaser about the Purchaser or the Shares other than those representations and warranties set forth in this Agreement, and that the Purchaser has not relied upon any other representation or warranty, express or implied, in purchasing the Shares. 4. CONDITIONS PRECEDENT TO EACH PARTY'S OBLIGATIONS. 4.1 The obligation of the Seller to consummate the Closing shall be subject to the satisfaction (or waiver by the Sellers) of the following conditions on or prior to the Closing Date: (i) the representations and warranties of the Purchaser contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date with the same effect as though such representations and warranties had been made on, as of and with reference to the Closing Date (except to the extent such representations and warranties specifically relate to a prior date); and (ii) the Seller shall have received the Purchase Price. 4.2 The obligation of the Purchaser to consummate the Closing shall be subject to satisfaction (or waiver by the Purchaser) of the following conditions on or prior to the Closing Date: (i) the representations and warranties of the Seller contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date was the same effect as though such representations and warranties had been made on, as of and with reference to the Closing Date (except to the extent such representations and warranties specifically relate to a prior date); and (ii) the Purchaser shall have received from the Seller the certificate(s) representing the Shares. 5. MISCELLANEOUS. 5.1 No party hereto shall be obligated to pay any commission, brokerage fee or finder's fee based on any alleged agreement or understanding between any such party and a third person in respect of the transactions contemplated hereby. 5.2 No party may sell, license, transfer or assign (by operation of law or otherwise) any of such party's rights or interests in this Agreement or delegate such party's duties or obligations under this Agreement, in whole or in part, without the prior written consent of the other party. Subject to the foregoing, this Agreement shall bind and inure to the benefit of the parties hereto and their respective successors and assigns. 2 5.3 This Agreement, including any and all exhibits hereto, constitutes the entire agreement between the parties hereto. The provisions of this Agreement supersede all previous communications, negotiations, representations or agreements, either oral or written, with respect to any transaction relating to or arising from this Agreement or terms described herein. This Agreement may be modified or amended only by a written document executed by all parties. 5.4 This Agreement may be executed in any number of counterparts, and each such counterpart of this Agreement shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile counterpart signatures to this Agreement shall be acceptable and binding. 5.5 All representations and warranties made by any party in connection with any transaction contemplated by this Agreement shall survive the execution and delivery of this Agreement, the performance or consummation of any transaction described in this Agreement, and the termination of this Agreement. 5.6 That certain letter agreement, dated July 29, 2003, between the Purchaser and the Seller, which provided for, among other things, certain rights of the Seller to designate a member to Purchaser's Board of Directors, is hereby terminated, and neither party shall have any rights or obligations thereunder. [SIGNATURES ON THE FOLLOWING PAGE] 3 STOCK PURCHASE AGREEMENT SIGNATURE PAGE INVEMED CATALYST FUND, L.P. By: Invemed Catalyst GenPar, LLC its general partner By: Gladwyne Catalyst GenPar, LLC its managing member /s/ Suzanne Present --------------------------------- Name: Suzanne Present Title: Member AMBASSADORS GROUP, INC. /s/ Jeffrey D. Thomas --------------------------------- Jeffrey D. Thomas Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----