0000921895-15-002360.txt : 20151105 0000921895-15-002360.hdr.sgml : 20151105 20151104200427 ACCESSION NUMBER: 0000921895-15-002360 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20151105 DATE AS OF CHANGE: 20151104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EZCHIP SEMICONDUCTOR LTD CENTRAL INDEX KEY: 0000892534 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59319 FILM NUMBER: 151198515 BUSINESS ADDRESS: STREET 1: 1 HATAMAR STREET STREET 2: PO BOX 527 CITY: YOKNEAM STATE: L3 ZIP: 20692 BUSINESS PHONE: (972)(4) 959-6666 MAIL ADDRESS: STREET 1: 1 HATAMAR STREET STREET 2: PO BOX 527 CITY: YOKNEAM STATE: L3 ZIP: 20692 FORMER COMPANY: FORMER CONFORMED NAME: EZchip Semiconductor Ltd DATE OF NAME CHANGE: 20080730 FORMER COMPANY: FORMER CONFORMED NAME: LANOPTICS LTD DATE OF NAME CHANGE: 20000718 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Raging Capital Management, LLC CENTRAL INDEX KEY: 0001444376 IRS NUMBER: 204306350 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: TEN PRINCETON AVENUE STREET 2: PO BOX 228 CITY: ROCKY HILL STATE: NJ ZIP: 08553-0228 BUSINESS PHONE: 6099100954 MAIL ADDRESS: STREET 1: TEN PRINCETON AVENUE STREET 2: PO BOX 228 CITY: ROCKY HILL STATE: NJ ZIP: 08553-0228 SC 13D/A 1 sc13da307738058_11042015.htm AMENDMENT NO. 3 TO SCHEDULE 13D sc13da307738058_11042015.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)

(Amendment No. 3)1

EZchip Semiconductor Ltd.
(Name of Issuer)

Ordinary Shares, par value NIS 0.02 per share
(Title of Class of Securities)

M4146Y108
(CUSIP Number)
 
STEVE WOLOSKY, ESQ.
OLSHAN FROME WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

November 3, 2015
(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 ¨.

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.


_______________
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 (“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. M4146Y108
 
1
NAME OF REPORTING PERSON
 
Raging Capital Master Fund, Ltd.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
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
 
CAYMAN ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
1,994,595
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
1,994,595
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,994,595
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.7%
14
TYPE OF REPORTING PERSON
 
CO

 
2
 
CUSIP NO. M4146Y108
 
1
NAME OF REPORTING PERSON
 
Raging Capital Management, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
1,994,595
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
1,994,595
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,994,595
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.7%
14
TYPE OF REPORTING PERSON
 
IA

 
3
 
CUSIP NO. M4146Y108
 
1
NAME OF REPORTING PERSON
 
William C. Martin
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
- 0 -
8
SHARED VOTING POWER
 
1,994,595
9
SOLE DISPOSITIVE POWER
 
- 0 -
10
SHARED DISPOSITIVE POWER
 
1,994,595
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,994,595
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.7%
14
TYPE OF REPORTING PERSON
 
IN

 
4
 
CUSIP NO. M4146Y108
 
1
NAME OF REPORTING PERSON
 
Paul K. McWilliams
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
PF
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
4,000
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
4,000
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,000
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
IN

 
5
 
CUSIP NO. M4146Y108
 
1
NAME OF REPORTING PERSON
 
Kenneth H. Traub
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) x
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
PF
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
10,000
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
10,000
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
10,000
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
IN

 
6
 
CUSIP NO. M4146Y108
 
The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 3”).  This Amendment No. 3 amends the Schedule 13D as specifically set forth herein.

Item 3.
Source and Amount of Funds or Other Consideration.
 
Item 3 is hereby amended and restated to read as follows:
 
The aggregate purchase price of the 1,994,595 Ordinary Shares owned directly by Raging Master is approximately $32,715,093, including brokerage commissions.  Such Ordinary Shares were acquired with the working capital of Raging Master.
 
Raging Master effects purchases of securities primarily through margin accounts maintained for it with prime brokers, which may extend margin credit to it as and when required to open or carry positions in the margin accounts, subject to applicable federal margin regulations, stock exchange rules and the prime brokers’ credit policies.  In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts.
 
The aggregate purchase price of the 4,000 Ordinary Shares owned directly by Paul K. McWilliams is approximately $77,147, including brokerage commissions.  Such Ordinary Shares were acquired with personal funds.
 
The aggregate purchase price of the 10,000 Ordinary Shares owned directly by Kenneth H. Traub is approximately $243,297, including brokerage commissions.  Such Ordinary Shares were acquired with personal funds.
 
Item 4.
Purpose of Transaction.
 
Item 4 is hereby amended to add the following:
 
On November 3, 2015, Raging Capital issued a press release announcing that Glass, Lewis & Co., a leading independent proxy advisory service, has recommended that shareholders of the Issuer vote against the merger agreement with Mellanox Technologies, Ltd. at the upcoming General Meeting. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
 
Item 5.
Interest in Securities of the Issuer.
 
Items 5(a) – (c) are hereby amended and restated to read as follows:
 
(a)           The aggregate percentage of Ordinary Shares reported owned by each person named herein is based upon 29,961,616 Ordinary Shares outstanding as of October 12, 2015, which is the total number of Ordinary Shares outstanding as reported in Exhibit 99.1 to the Issuer’s Form 6-K filed with the Securities and Exchange Commission on October 13, 2015.
 
As of the close of business on the date hereof, Raging Master directly owned 1,994,595 Ordinary Shares, constituting approximately 6.7% of the Ordinary Shares outstanding.  By virtue of their relationships with Raging Master discussed in further detail in Item 2, each of Raging Capital and William C. Martin may be deemed to beneficially own the Ordinary Shares directly owned by Raging Master.
 
 
7
 
CUSIP NO. M4146Y108
 
As of the close of business on the date hereof, Paul K. McWilliams directly owned 4,000 Ordinary Shares, constituting less than 1% of the Ordinary Shares outstanding.
 
As of the close of business on the date hereof, Kenneth H. Traub directly owned 10,000 Ordinary Shares, constituting less than 1% of the Ordinary Shares outstanding.
 
Each of the Reporting Persons, as a member of a “group” with the other Reporting Persons for purposes of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), may be deemed to beneficially own the securities of the Issuer owned by the other Reporting Persons.  The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any securities of the Issuer he or it does not directly own.  Each of the Reporting Persons specifically disclaims beneficial ownership of the securities of the Issuer reported herein that he or it does not directly own.
 
(b)           Raging Master may be deemed to share with Raging Capital and William C. Martin the power to vote and dispose of the Ordinary Shares directly owned by Raging Master.
 
Paul K. McWilliams has the sole power to vote and dispose of the Ordinary Shares directly owned by him.
 
Kenneth H. Traub has the sole power to vote and dispose of the Ordinary Shares directly owned by him.
 
(c)           Schedule B annexed hereto lists all transactions in the securities of the Issuer by the Reporting Persons since the filing of Amendment No. 1 to the Schedule 13D.  All of such transactions were effected in the open market.
 
Item 7.
Material to be Filed as Exhibits.
 
Item 7 is hereby amended to add the following exhibit:
 
                    Exhibit No.        Description
 
 
99.1
Press Release, dated November 3, 2015.

 
 
8
 
CUSIP NO. M4146Y108
 
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 4, 2015
Raging Capital Master Fund, Ltd.
   
 
By:
Raging Capital Management, LLC
Investment Manager
   
 
By:
/s/ Frederick C. Wasch
   
Name:
Frederick C. Wasch
   
Title:
Chief Financial Officer


 
Raging Capital Management, LLC
   
 
By:
/s/ Frederick C. Wasch
   
Name:
Frederick C. Wasch
   
Title:
Chief Financial Officer


 
/s/ Frederick C. Wasch
 
Frederick C. Wasch  as attorney-in-fact for William C. Martin

 
 
/s/ Paul K. McWilliams
 
Paul K. McWilliams


 
/s/ Kenneth H. Traub
 
Kenneth H. Traub

 
9
 
CUSIP NO. M4146Y108
 
SCHEDULE B

Transactions in the Securities of the Issuer Since the Filing of Amendment No. 1 to the Schedule 13D

Class of
Security
Securities
 Purchased
 
Price ($)
Date of
Purchase

RAGING CAPITAL MASTER FUND, LTD.
 
Ordinary Shares
50,000
24.3318
11/04/2015

 
KENNETH H. TRAUB
 
Ordinary Shares
10,000
24.2797
11/04/2015

 

 
 EX-99.1 2 ex991to13da307738058_110415.htm PRESS RELEASE, DATED NOVEMBER 3, 2015 ex991to13da307738058_110415.htm
Exhibit 99.1
 
Glass Lewis Recommends EZchip Shareholders Vote Against “Opportunistic and Inadequate” Merger With Mellanox

 
ROCKY HILL, N.J., November 3, 2015 /PRNewswire/ -- Raging Capital Management, LLC (“Raging Capital”), one of the largest shareholders of EZchip Semiconductor Ltd. (NASDAQ: EZCH) (“EZchip” or the “Company”) owning approximately 6.5% of the ordinary shares outstanding, today announced that Glass, Lewis & Co., LLC (“Glass Lewis”), a leading independent proxy advisory service, has recommended that shareholders of EZchip vote AGAINST the merger agreement with Mellanox Technologies, Ltd. (NASDAQ: MLNX) (“Mellanox”) at the Annual General Meeting of Shareholders scheduled for November 12, 2015.
 
William C. Martin, Chairman and Chief Investment Officer of Raging Capital, commented: “We are pleased that, after thorough and independent analysis, Glass Lewis shares our perspective that the proposed merger is more of a marriage of convenience than the result of a robust and rigorous sale process.”
 
In its analysis, Glass Lewis noted, “We see little assurance for shareholders that the current offer price represents full and fair value.”
 
Additionally, Glass Lewis observed the following:
 
Commenting on the Cisco news causing a temporary drop in EZchip’s share value leading up to negotiations with Mellanox: “…the market reaction to the Cisco news appears somewhat overblown.”
 
Commenting on the sale process: “Overall, we don’t believe the directors adequately designed or conducted a process with the goal of obtaining full, fair and maximum value for shareholders.”
 
Commenting on the $25.50 buyout value: “…we believe the currently proposed purchase price represents insufficient value for shareholders based on the Company’s reasonably expected future financial performance.”
 
Commenting on EZchip as a standalone business: “…we believe it’s reasonably possible that on a standalone basis the Company could achieve greater value for shareholders than that which is offered in the proposed transaction.”
 
Commenting on Raging Capital’s short-term put options: “…we believe Raging Capital’s interests in opposing the transaction, with the goal of realizing a higher EZchip share price on a standalone basis or via a higher offer from Mellanox or another potential buyer, remain largely aligned with other EZchip shareholders.”
 
In concluding its analysis recommending shareholders vote AGAINST the transaction, Glass Lewis stated, “Mellanox’s current offer fails to compensate shareholders for the continued upside potential of the standalone alternative.”
 
 
 
 
 
Finally, we share Glass Lewis’ sentiment that the merger is not in the best interest of EZchip shareholders because “the EZchip board ultimately failed to secure a fair buyout price for the Company.”
 
SEND A MESSAGE TO THE EZCHIP BOARD THAT YOU WILL NOT ACCEPT A LOW-BALL PRICE FOR YOUR SHARES BY VOTING “AGAINST” THE MERGER AND “FOR” THE ELECTION OF OUR DIRECTOR NOMINEES – PAUL MCWILLIAMS AND KEN TRAUB – ON THE GOLD PROXY CARD.
 
We encourage you to visit our website at www.EZCH-value.com for additional information and materials regarding our solicitation.
 
We urge you to sign, date and return the GOLD proxy card today.
 
Stockholders with questions about how to vote their shares may call Okapi Partners, Raging Capital’s proxy solicitor, toll free in the US (855) 208-8902 or in Israel 01801227249.
 

 
IMPORTANT
 
Tell your Board what you think!  Your vote is important.  No matter how many Ordinary Shares you own, please give Raging Capital your proxy AGAINST the Merger and FOR the election of its two highly-qualified nominees by taking three steps:
 
 
·
SIGNING the enclosed GOLD proxy card,
 
 
·
DATING the enclosed GOLD proxy card, and
 
 
·
MAILING the enclosed GOLD proxy card TODAY in the envelope provided (no postage is required if mailed in the United States).
 
If any of your Ordinary Shares are held in the name of a brokerage firm, bank, bank nominee or other institution, only it can vote such shares and only upon receipt of your specific instructions.  Depending upon your broker or custodian, you may be able to vote either by toll-free telephone or by the Internet.  Please refer to the enclosed proxy card for instructions on how to vote electronically.  You may also vote by signing, dating and returning the enclosed GOLD proxy card.
 
If you have any questions or require any additional information concerning Raging Capital’s solicitation, please contact Okapi Partners at the address set forth below.
 
 
 
1212 Madison Avenue, 24th Floor
New York, N.Y. 10036
(212) 297-0720
US: (855) 208-8902        Israel: 01801227249
E-mail: info@okapipartners.com
 
 

Media Contact:
 
Hedge Fund Solutions, LLC
Damien Park, 215-325-0514
 
Investor Contact:
 
Okapi Partners LLC
Bruce Goldfarb, 212-297-0722, Chuck Garske, 212-297-0724 or Lydia Mulyk, 212-297-0725
 
 GRAPHIC 3 okapi_logo.jpg begin 644 okapi_logo.jpg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