-----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, IWCzgwj0I8l7sMUKBRkzG5nXw1uEiG2tH44NCnXNDNJv490K6KgeMQlaHMQV0WKj L0nD7j7RLlhpNrJj98inOw== 0001399010-11-000017.txt : 20110215 0001399010-11-000017.hdr.sgml : 20110215 20110215150919 ACCESSION NUMBER: 0001399010-11-000017 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110215 DATE AS OF CHANGE: 20110215 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Bitstream Inc. CENTRAL INDEX KEY: 0000818813 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 042744890 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47395 FILM NUMBER: 11613920 BUSINESS ADDRESS: STREET 1: 500 NICKERSON ROAD CITY: MARLBOROUGH STATE: MA ZIP: 01752 BUSINESS PHONE: 6174976222 MAIL ADDRESS: STREET 1: 500 NICKERSON ROAD CITY: MARLBOROUGH STATE: MA ZIP: 01752 FORMER COMPANY: FORMER CONFORMED NAME: BITSTREAM INC DATE OF NAME CHANGE: 19960524 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Columbia Pacific Opportunity Fund, L.P. CENTRAL INDEX KEY: 0001399010 IRS NUMBER: 208451143 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1910 FAIRVIEW AVENUE EAST STREET 2: STE 500 CITY: Seattle STATE: WA ZIP: 98102-3698 BUSINESS PHONE: (206) 453-0291 MAIL ADDRESS: STREET 1: 1910 FAIRVIEW AVENUE EAST STREET 2: STE 500 CITY: Seattle STATE: WA ZIP: 98102-3698 FORMER COMPANY: FORMER CONFORMED NAME: Columbia Pacific Opportunity Fund LP DATE OF NAME CHANGE: 20070509 SC 13D/A 1 bitstream13d20110214.txt AMENDMENT NO. 6 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 6) Bitstream, Inc. (Name of Issuer) Class A Common Stock, par value $0.01 per share (Title of Class of Securities) 91736108 (CUSIP Number) Alexander B. Washburn c/o Columbia Pacific Advisors, LLC 1910 Fairview Avenue East, Suite 500 Seattle, Washington 98102 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 9, 2011 (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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [X] - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Columbia Pacific Opportunity Fund, L.P. (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person PN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Columbia Pacific Advisors, LLC (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person IA (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Alexander B. Washburn (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Daniel R. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Stanley L. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ 1. Names of Reporting Persons Brandon D. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [X] 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 United States of America 7. Sole Voting Power 1,854,827 shares of Common Stock (2) NUMBER OF SHARES 8. Shared Voting Power BENEFICIALLY 0 shares of Common Stock OWNED BY EACH REPORTING PERSON 9. Sole Dispositive Power WITH 1,854,827 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,854,827 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] 13. Percent of Class Represented by Amount in Row 9 18.20% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,854,827 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,190,637 shares of common stock outstanding as of November 10, 2010, as reported on the Company's Form 10-Q for the period ended September 30, 2010 filed on November 15, 2010. - ------------------------------------------------------------------------------ EXPLANATORY NOTE This Amendment No. 6 amends the Schedule 13D filed by Columbia Pacific Opportunity Fund, L.P., a Washington limited partnership (the "Fund"), Columbia Pacific Advisors LLC, a Washington limited liability company (the "Adviser"), Alexander B. Washburn, a U.S. citizen, Daniel R. Baty, a U.S. citizen, Stanley L. Baty, a U.S. citizen, and Brandon D. Baty, a U.S. citizen (each a "Reporting Person" and collectively the "Reporting Persons") with the Securities and Exchange Commission on April 20, 2010, as amended on July 15, 2010; August 18, 2010; September 23, 2010; October 29, 2010 and December 28, 2010 with respect to the Class A Common Stock, par value $0.01 per share (the "Common Stock") of Bitstream, Inc., a Delaware corporation (the "Company"). Mr. Washburn, Mr. D. Baty, Mr. S. Baty and Mr. B. Baty serve as the managing members of the Adviser, which is primarily responsible for all investment decisions regarding the Fund's investment portfolio. The shares of Class A Common Stock reported herein are held in the portfolio of the Fund. Neither the present filing nor anything contained herein shall be construed as an admission that the Reporting Persons constitute a "group" for any purpose and the Reporting Persons expressly disclaim membership in a group. Except as specifically set forth herein, the Schedule 13D remains unmodified. ITEM 5. Interest in Securities of the Issuer The responses set forth in Items 5(a) and 5(c) of the Schedule 13D are hereby replaced in their entirety by the following: (a) As of the date hereof, the Reporting Persons may be deemed to beneficially own an aggregate of 1,854,827 shares of Common Stock, which constitutes 18.20% of the total number shares of Common Stock outstanding as of November 10, 2010, as reported in the Company's Form 10-Q for the period ended September 30, 2010. (c) During the past 60 days, Columbia Pacific Opportunity Fund, L.P. has engaged in the following open-market transactions in the Common Stock: Shares Date Purchased Price 12/17/2010 5,279 7.2644 12/20/2010 11,100 7.2026 12/21/2010 3,667 7.172 12/22/2010 4,146 7.11 12/23/2010 980 7.1418 12/27/2010 4,900 7.1373 12/28/2010 5,331 7.1401 12/29/2010 1,152 7.1613 12/30/2010 1,826 7.1782 12/31/2010 1,500 7.2273 01/03/2011 1,900 7.2728 01/04/2011 4,500 7.2204 01/05/2011 1,600 7.1613 01/06/2011 444 7.2003 01/07/2011 139 7.16 01/10/2011 700 7.1386 01/11/2011 3,100 7.1552 01/12/2011 8,300 7.1713 01/13/2011 4,075 7.1751 01/14/2011 2,665 7.1369 01/18/2011 5,150 7.2602 01/19/2011 17,800 7.2256 01/20/2011 5,000 7.1964 01/21/2011 4,580 7.1807 01/24/2011 10,362 7.0274 01/25/2011 725 7.0724 01/26/2011 10,698 7.0581 01/27/2011 1,400 7.0921 01/28/2011 1,700 7.0206 01/31/2011 1,102 7.0098 02/01/2011 1,300 7.0408 02/02/2011 546 7.0086 02/03/2011 300 7.02 02/04/2011 500 7.014 02/07/2011 1,200 6.9925 02/08/2011 2,100 6.9929 02/09/2011 5,700 6.8931 02/10/2011 4,300 6.8421 02/11/2011 4,300 6.8235 02/14/2011 6,700 6.7746 - ------------------------------------------------------------------------------ SIGNATURES 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: February 15, 2011 COLUMBIA PACIFIC OPPORTUNITY FUND, L.P. (1) /s/ Alexander B. Washburn By: Alexander B. Washburn Title: Managing Member of Columbia Pacific Advisors, LLC, its general partner Dated: February 15, 2011 COLUMBIA PACIFIC ADVISORS, LLC (1) /s/ Alexander B. Washburn By: Alexander B. Washburn Title: Managing Member Dated: February 15, 2011 /s/ Alexander B. Washburn Alexander B. Washburn (1) Dated: February 15, 2011 /s/ Daniel R. Baty Daniel R. Baty (1) Dated: February 15, 2011 /s/ Stanley L. Baty Stanley L. Baty (1) Dated: February 15, 2011 /s/ Brandon D. Baty Brandon D. Baty (1) (1) This amendment is being filed jointly by Columbia Pacific Opportunity Fund, L.P., Columbia Pacific Advisors LLC, Alexander B. Washburn, Daniel R. Baty, Stanley L. Baty and Brandon D. Baty pursuant to the Joint Filing Agreement dated April 16, 2010 and included with the initial Schedule 13D filed on April 20, 2010 (the "Joint Filing Agreement"). The Joint Filing Agreement is incorporated herein by reference. -----END PRIVACY-ENHANCED MESSAGE-----