0001140361-12-025538.txt : 20120515 0001140361-12-025538.hdr.sgml : 20120515 20120515171537 ACCESSION NUMBER: 0001140361-12-025538 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120515 DATE AS OF CHANGE: 20120515 GROUP MEMBERS: LMA SPC FOR & BEHALF OF MAP 98 SEGREGATED PORTFOLIO GROUP MEMBERS: OCEANA MASTER FUND LTD. GROUP MEMBERS: PENTWATER EQUITY OPPORTUNITIES MASTER FUND LTD. GROUP MEMBERS: PWCM MASTER FUND LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Six Flags Entertainment Corp CENTRAL INDEX KEY: 0000701374 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 133995059 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33593 FILM NUMBER: 12845993 BUSINESS ADDRESS: STREET 1: 924 AVENUE J EAST CITY: GRAND PRAIRIE STATE: TX ZIP: 75050 BUSINESS PHONE: 972 595-5000 MAIL ADDRESS: STREET 1: 924 AVENUE J EAST CITY: GRAND PRAIRIE STATE: TX ZIP: 75050 FORMER COMPANY: FORMER CONFORMED NAME: SIX FLAGS, INC. DATE OF NAME CHANGE: 20070322 FORMER COMPANY: FORMER CONFORMED NAME: SIX FLAGS INC DATE OF NAME CHANGE: 20000714 FORMER COMPANY: FORMER CONFORMED NAME: TIERCO GROUP INC/DE/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Pentwater Capital Management LP CENTRAL INDEX KEY: 0001425851 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 227 WEST MONROE STREET 2: SUITE 4000 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-589-6400 MAIL ADDRESS: STREET 1: 227 WEST MONROE STREET 2: SUITE 4000 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13D/A 1 form13da.htm PENTWATER CAPITAL MANAGEMENT LP SC13 D A # 3 5-15-2012 (SIX FLAGS ENTERTAINMENT CORPORATION) form13da.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)
 
Six Flags Entertainment Corporation
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)

83001A201
(CUSIP Number)
 
Neal Nenadovic, CFO
Pentwater Capital Management, LP
227 W. Monroe Suite 4000
Chicago, Il 60606
(312)589-6405
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
May 15, 2012
(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.o
 
 
 
 

SCHEDULE 13D/A

CUSIP No.  83001A201
 
1
NAMES OF REPORTING PERSONS
 
Pentwater Capital Management, LP
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)       o
(b)       x
  
 
 
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS (See Instructions)
 
N/A
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware USA
   
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH:
7
SOLE VOTING POWER
2,943,000
 
8
 
SHARED VOTING POWER
 
 
9
 
SOLE DISPOSITIVE POWER
2,943,000
 
10
 
SHARED DISPOSITIVE POWER
 
   
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,943,000
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.44%
 
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
IA

 
2
 

CUSIP No.  83001A201
 
1
NAMES OF REPORTING PERSONS
 
PWCM Master Fund Ltd.
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)       o
(b)       x
  
 
 
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS (See Instructions)
 
N/A
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman  Islands
   
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH:
 
7
 
SOLE VOTING POWER
 
 
8
 
SHARED VOTING POWER
 
 
9
 
SOLE DISPOSITIVE POWER
 
 
10
 
SHARED DISPOSITIVE POWER
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
647,592
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
1.20%
 
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 
3
 
 
CUSIP No.  83001A201
 
1
NAMES OF REPORTING PERSONS
 
Pentwater Equity Opportunities Master Fund Ltd.
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)       o
(b)       x
  
 
 
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS (See Instructions)
N/A
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
   
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH:
 
7
 
SOLE VOTING POWER
 
 
8
 
SHARED VOTING POWER
 
 
9
 
SOLE DISPOSITIVE POWER
 
 
10
 
SHARED DISPOSITIVE POWER
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,224,053
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
2.26%
 
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 
4
 
 
CUSIP No.  83001A201
 
1
NAMES OF REPORTING PERSONS
 
Oceana Master Fund Ltd.
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)       o
(b)       x
  
 
 
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS (See Instructions)
N/A
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH:
 
7
 
SOLE VOTING POWER
 
 
8
 
SHARED VOTING POWER
 
 
9
 
SOLE DISPOSITIVE POWER
 
 
10
 
SHARED DISPOSITIVE POWER
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
710,978
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
1.31%
 
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 
5
 

CUSIP No.  83001A201
 
1
NAMES OF REPORTING PERSONS
 
LMA SPC for and behalf of MAP 98
Segregated Portfolio
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a)       o
(b)       x
  
 
 
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS (See Instructions)
N/A
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)o
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH:
 
7
 
SOLE VOTING POWER
 
 
8
 
SHARED VOTING POWER
 
 
9
 
SOLE DISPOSITIVE POWER
 
 
10
 
SHARED DISPOSITIVE POWER
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
360,377
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)o
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
0.67%
 
 
14
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 
6
 

The Schedule 13D filed on February 22, 2011 (the “Initial Schedule 13D”) on behalf of Pentwater Capital Management LP, a Delaware limited partnership (“Pentwater Capital”), Pentwater Growth Fund Ltd., an exempted company formed in the Cayman Islands (“Pentwater Growth”), Pentwater Equity Opportunities Master Fund, Ltd., an exempted company formed in the Cayman Islands (“Pentwater Equity”), Oceana Master Fund, Ltd. (“Oceana”) an exempted company formed in the Cayman Islands, and LMA SPC for and behalf of MAP 98 Segregated Portfolio, a segregated portfolio company (“MAP”), relating to the common stock (the “Common Stock”) of Six Flags Entertainment Corporation, a Delaware corporation (the “Issuer”), is hereby amended as set forth below by this Amendment No.3 to Schedule 13D.

PWCM Master Fund Ltd., an exempted company formed in the Cayman Islands (“PWCM”), has assumed the position previously held by Pentwater Growth.

ITEM 5. 
INTEREST IN SECURITIES OF THE ISSUER.

(a), (b) and (d)     Each Reporting Person’s beneficial ownership of Common Stock on the date of this Schedule 13D is reflected on that Reporting Person’s cover page.  By virtue of his position with Pentwater Capital, Mr. Halbower has the sole power to vote the shares of Common Stock owned by the Reporting Persons.  Subject to restrictions, Mr. Halbower has the sole power to dispose of the shares of Common Stock owned by the Reporting Persons.  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, the shares of Common Stock.  The percentage calculations on the cover pages are based upon 54,124,300 shares of Common Stock outstanding as reported by the Issuer in the Issuer’s Quarterly Report on Form 10-Q for the period ended March 31, 2012 filed on May 1, 2012.

(c)           The transactions in the class of securities reported on that were effected during the past 60 days on behalf of the Reporting Persons are set forth on Schedule A and incorporated herein by reference.  Other than those transactions, there were no other such transactions by the Reporting Companies that were effected during the past 60 days.

(e)           Not Applicable.

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

Except as otherwise expressly described herein and in Schedule A, no contracts, arrangements, understandings or similar relationships exist with respect to the securities of the Company among the Reporting Persons and any person or entity.

The Reporting Persons have entered into a number of derivative agreements, commonly known as Total Return Swaps, with Bank of America, which agreements provide that the profit to the Reporting Persons shall be based upon the decrease in value of the shares of Common Stock, and the loss to the Reporting Persons shall be based upon the increase in the value of the shares of Common Stock, during the period from inception of the applicable agreement to its termination.  The agreements provide that they settle in cash.  In addition to the shares of Common Stock that they beneficially own as shown in Item 5 above, the Reporting Persons currently have short economic exposure to an aggregate of 70,000 shares of Common Stock through such agreements.

The Reporting Persons also own Term Loans of the Issuer with a face amount of $6,000,000 in a swap facility with J.P Morgan Chase.

 
7
 

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:  May 15, 2012
 
 
PENTWATER CAPITAL MANAGEMENT LP
  
       
 
By:
/s/ Matthew Halbower  
    Name:         Matthew Halbower  
    Title:           Chief Executive Officer  

 
PWCM MASTER FUND LTD.
  
       
 
By:
s/ David Zirin  
    Name:         David Zirin  
    Title:           Director  
 
 
PENTWATER EQUITY OPPORTUNITIES MASTER FUND LTD.
       
 
By:
/s/ David Zirin  
    Name:         David Zirin  
    Title:           Director  
 
 
OCEANA MASTER FUND LTD.
       
 
By:
/s/ David Zirin  
    Name:         David Zirin  
    Title:           Director  
 
 
LMA SPC FOR AND ON BEHALF OF
MAP 98 SEGREGATED PORTFOLIO
       
 
By:
Pentwater Capital Management LP,
its investment manager
  
       
  By: 
Halbower Holdings, Inc., its general partner
  
 
    By: 
/s/ Matthew Halbower
    Name:   Matthew C. Halbower
    Title: Chief Executive Officer

 
8
 

SCHEDULE A
TRANSACTIONS IN SECURITIES OF
SIX FLAGS ENTERTAINMENT CORPORATION
WITHIN THE PAST 60 DAYS
 
Fund
TradeDate
Side
  
Quantity
    
Price
  
OCMF
3/15/2012
Sell
     5,272       46.88  
OCMF
3/16/2012
Sell
     965       47.15  
OCMF
3/19/2012
Sell
     1,772       46.85  
OCMF
3/22/2012
Sell
     1,794       46.25  
OCMF
3/23/2012
Sell
     2,243       46.93  
OCMF
3/26/2012
Sell
     897       47.55  
OCMF
3/27/2012
Sell
     2,979       47.25  
OCMF
3/28/2012
Sell
     2,645       47.04  
OCMF
3/29/2012
Sell
     673       46.81  
OCMF
3/30/2012
Sell
     4,035       47.14  
OCMF
4/2/2012
Sell
     382       46.61  
OCMF
4/3/2012
Sell
     372       46.70  
OCMF
4/4/2012
Sell
     897       45.68  
OCMF
4/5/2012
Sell
     897       45.86  
OCMF
4/9/2012
Sell
     336       45.90  
OCMF
4/11/2012
Sell
     22       45.44  
OCMF
4/12/2012
Sell
     4,484       45.17  
OCMF
4/16/2012
Sell
     897       45.21  
OCMF
4/18/2012
Sell
     897       45.85  
OCMF
4/19/2012
Sell
     1,932       46.00  
OCMF
4/20/2012
Sell
     2,242       46.18  
OCMF
4/23/2012
Sell
     544       45.59  
OCMF
4/24/2012
Sell
     1,119       45.59  
OCMF
4/25/2012
Sell
     21,777       47.23  
OCMF
4/26/2012
Sell
     417       47.55  
OCMF
4/27/2012
Sell
     1,121       47.94  
OCMF
5/1/2012
Sell
     4,484       48.16  
OCMF
5/2/2012
Sell
     2,018       48.55  
OCMF
5/3/2012
Sell
     402       48.70  
OCMF
5/4/2012
Sell
     448       47.52  
OCMF
5/10/2012
Sell
     2,130       47.55  
PEMF
3/15/2012
Sell
     9,998       46.88  
PEMF
3/16/2012
Sell
     1,829       47.15  
PEMF
3/19/2012
Sell
     3,361       46.85  
PEMF
3/22/2012
Sell
     3,404       46.25  
PEMF
3/23/2012
Sell
     4,255       46.93  
PEMF
3/26/2012
Sell
     1,702       47.55  
PEMF
3/27/2012
Sell
     4,816       47.25  
PEMF
3/28/2012
Sell
     5,021       47.04  
PEMF
3/29/2012
Sell
     1,276       46.81  
PEMF
3/30/2012
Sell
     7,658       47.14  
PEMF
4/2/2012
Sell
     726       46.61  
PEMF
4/3/2012
Sell
     707       46.70  
PEMF
4/4/2012
Sell
     1,702       45.68  
PEMF
4/5/2012
Sell
     1,702       45.86  
PEMF
4/9/2012
Sell
     638       45.90  
PEMF
4/11/2012
Sell
     43       45.44  
PEMF
4/12/2012
Sell
     8,508       45.17  
PEMF
4/16/2012
Sell
     1,702       45.21  
PEMF
4/18/2012
Sell
     1,702       45.85  
PEMF
4/19/2012
Sell
     3,666       46.00  
PEMF
4/20/2012
Sell
     4,255       46.18  
PEMF
4/23/2012
Sell
     1,032       45.59  
PEMF
4/24/2012
Sell
     2,124       45.59  
PEMF
4/25/2012
Sell
     41,330       47.23  
PEMF
4/26/2012
Sell
     792       47.55  
PEMF
4/27/2012
Sell
     2,128       47.94  
PEMF
5/1/2012
Sell
     8,509       48.16  
PEMF
5/2/2012
Sell
     3,829       48.55  
PEMF
5/3/2012
Sell
     763       48.70  
PEMF
5/4/2012
Sell
     851       47.52  
PEMF
5/10/2012
Sell
     4,042       47.55  
PWCM
3/15/2012
Sell
     5,286       46.88  
PWCM
3/16/2012
Sell
     967       47.15  
PWCM
3/19/2012
Sell
     1,777       46.85  
PWCM
3/22/2012
Sell
     1,800       46.25  
PWCM
3/23/2012
Sell
     2,249       46.93  
PWCM
3/26/2012
Sell
     900       47.55  
PWCM
3/27/2012
Sell
     2,131       47.25  
PWCM
3/28/2012
Sell
     2,656       47.04  
PWCM
3/29/2012
Sell
     675       46.81  
PWCM
3/30/2012
Sell
     4,052       47.14  
PWCM
4/2/2012
Sell
     384       46.61  
PWCM
4/3/2012
Sell
     374       46.70  
PWCM
4/4/2012
Sell
     900       45.68  
PWCM
4/5/2012
Sell
     900       45.86  
PWCM
4/9/2012
Sell
     338       45.90  
PWCM
4/11/2012
Sell
     22       45.44  
PWCM
4/12/2012
Sell
     4,503       45.17  
PWCM
4/16/2012
Sell
     900       45.21  
PWCM
4/18/2012
Sell
     900       45.85  
PWCM
4/19/2012
Sell
     1,939       46.00  
PWCM
4/20/2012
Sell
     2,251       46.18  
PWCM
4/23/2012
Sell
     546       45.59  
PWCM
4/24/2012
Sell
     1,123       45.59  
PWCM
4/25/2012
Sell
     21,865       47.23  
PWCM
4/26/2012
Sell
     419       47.55  
PWCM
4/27/2012
Sell
     1,125       47.94  
PWCM
5/1/2012
Sell
     4,502       48.16  
PWCM
5/2/2012
Sell
     2,026       48.55  
PWCM
5/3/2012
Sell
     404       48.70  
PWCM
5/4/2012
Sell
     450       47.52  
PWCM
5/10/2012
Sell
     2,138       47.55  
MAP
3/15/2012
Sell
     2,944       46.88  
MAP
3/16/2012
Sell
     539       47.15  
MAP
3/19/2012
Sell
     990       46.85  
MAP
3/22/2012
Sell
     1,002       46.25  
MAP
3/23/2012
Sell
     1,253       46.93  
MAP
3/26/2012
Sell
     501       47.55  
MAP
3/27/2012
Sell
     1,474       47.25  
MAP
3/28/2012
Sell
     1,478       47.04  
MAP
3/29/2012
Sell
     376       46.81  
MAP
3/30/2012
Sell
     2,255       47.14  
MAP
4/2/2012
Sell
     214       46.61  
MAP
4/3/2012
Sell
     208       46.70  
MAP
4/4/2012
Sell
     501       45.68  
MAP
4/5/2012
Sell
     501       45.86  
MAP
4/9/2012
Sell
     188       45.90  
MAP
4/11/2012
Sell
     13       45.44  
MAP
4/12/2012
Sell
     2,505       45.17  
MAP
4/16/2012
Sell
     501       45.21  
MAP
4/18/2012
Sell
     501       45.85  
MAP
4/19/2012
Sell
     1,079       46.00  
MAP
4/20/2012
Sell
     1,252       46.18  
MAP
4/23/2012
Sell
     304       45.59  
MAP
4/24/2012
Sell
     625       45.59  
MAP
4/25/2012
Sell
     12,167       47.23  
MAP
4/26/2012
Sell
     233       47.55  
MAP
4/27/2012
Sell
     626       47.94  
MAP
5/1/2012
Sell
     2,505       48.16  
MAP
5/2/2012
Sell
     1,127       48.55  
MAP
5/3/2012
Sell
     225       48.70  
MAP
5/4/2012
Sell
     251       47.52  
MAP
5/10/2012
Sell
     1,190       47.55  
OCMF 5/15/2012
Sell
      1,055       47.01  
PEMF 5/15/2012
Sell
      2,002       47.01  
PWCM 5/15/2012
Sell
      1,059       47.01  
MAP 5/15/2012
Sell
      590       47.01