-----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, SnpjKJxYpZY6cRYvyH4fjl/aPU1gvJ3M3HgHPWUAIwCLAgJkA8Sa6HDaX8v5YKU2 PxRIHEDsOyu2FMTBBhDVxg== 0000891554-99-001044.txt : 19990520 0000891554-99-001044.hdr.sgml : 19990520 ACCESSION NUMBER: 0000891554-99-001044 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990519 GROUP MEMBERS: CHANNEL PARTNERSHIP II GROUP MEMBERS: NELSON OBUS GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE LP GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE, L.P. I SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LSB INDUSTRIES INC CENTRAL INDEX KEY: 0000060714 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 731015226 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-17178 FILM NUMBER: 99630219 BUSINESS ADDRESS: STREET 1: 16 S PENNSYLVANIA CITY: OKLAHOMA CITY STATE: OK ZIP: 73107 BUSINESS PHONE: 4052354546 MAIL ADDRESS: STREET 1: P.O. BOX 754 CITY: OKLAHOMA STATE: OK ZIP: 73101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 2127600814 MAIL ADDRESS: STREET 1: ONE PENN PLAZA STREET 2: SUITE 4720 CITY: NEW YORK STATE: NY ZIP: 10119 SC 13D/A 1 AMENDMENT NO. 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 SCHEDULE 13D Amendment No. 3 Under the Securities Exchange Act of 1934 LSB Industries, Inc. (Name of Issuer) Common Stock, Par Value $.10 Per Share (Title of Class of Securities) 502160104 (CUSIP Number) Nelson Obus, Wynnefield Partners Small Cap Value, L.P. One Penn Plaza, Suite 4720, New York, New York 10119, (212) 760-0814 and Jesse R. Meer, Esq. Berlack, Israels & Liberman LLP, 120 West 45th Street, New York, N.Y. 10036, (212) 704-0100 (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) May 6, 1999 (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-I(b)(3) or (4), check the following box |_|. Check the following box if a fee is being paid with the statement |_|. (A fee is not required only if the reporting person (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) (Page 1 of 8 Pages) Amendment No. 3 to SCHEDULE 13D - ------------------------- ------------------- CUSIP No. 502160104 Page 2 of 8 Pages - ------------------------- ------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L. P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |x| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) or (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 235,620 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 235,620 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 235,620 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 2 of 8 Pages) Amendment No. 3 to SCHEDULE 13D - ------------------------- ------------------- CUSIP No. 502160104 Page 3 of 8 Pages - ------------------------- ------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value, L.P. I S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3953291 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |x| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) or (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 204,680 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 204,680 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 204,680 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.7 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 3 of 8 Pages) Amendment No. 3 to SCHEDULE 13D - ------------------------- ------------------- CUSIP No. 502160104 Page 4 of 8 Pages - ------------------------- ------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Wynnefield Small Cap Value Offshore Fund, Ltd. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Not Applicable - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |x| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) or (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 83,900 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 83,900 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 83,900 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .7 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- (Page 4 of 8 Pages) Amendment No. 3 to SCHEDULE 13D - ------------------------- ------------------- CUSIP No. 502160104 Page 5 of 8 Pages - ------------------------- ------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Channel Partnership II S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 22-3215653 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |x| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) or (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 24,000 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 24,000 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 24,000 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .2 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (Page 5 of 8 Pages) Amendment No. 3 to SCHEDULE 13D - ------------------------- ------------------- CUSIP No. 502160104 Page 6 of 8 Pages - ------------------------- ------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: Nelson Obus S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only): - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |x| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) or (e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 20,000 OWNED BY ------------------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON None WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 20,000 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER None - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,000 shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) .17 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- (Page 6 of 8 Pages) AMENDMENT NO. 3 TO SCHEDULE 13D Item 1. Security and Issuer. This amended statement relates to shares of the common stock, par value $.001 per share, of LSB Industries, Inc. (the "Issuer"). The Issuer's principal executive offices are located at 16 South Pennsylvania Avenue, Oklahoma City, Oklahoma 73107. Item 2. Identity and Background. This amended statement is being filed by Wynnefield Partners Small Cap Value, L.P. ("Wynnefield") and Wynnefield Partners Small Cap Value, L.P. I ("Wynnefield-I"), limited partnerships formed under the laws of the State of Delaware (the "Partnerships"), Wynnefield Small Cap Value Offshore Fund, Ltd., a Cayman Islands corporation (the "Fund"), Channel Partnership II, a Delaware partnership ("Channel"), and Nelson Obus, collectively referred to herein as the "Wynnefield Entities". The principal business of the Wynnefield Entities is investments, and the address of their principal offices is One Penn Plaza, Suite 4720, New York, New York 10119. Nelson Obus, Joshua Landes and Robert Melnick are the managing members of Wynnefield Capital Management, LLC ("WCM"), the general partner of the Partnerships, and their principal business address is the same as the Partnerships'. The principal occupations of Messrs. Obus, Landes and Melnick are to manage the investments of the Wynnefield Entities. They are also officers of the Fund and partners of Channel. During the past five years, neither the Partnerships, the Fund, Channel, WCM, Mr. Obus, Mr. Landes nor Mr. Melnick (a) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which it or he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Messrs. Obus, Landes and Melnick are citizens of the United States. Item 3. Source and Amount of Funds or Other Consideration. The 568,200 shares of the Issuer's common stock that are now held by the Wynnefield Entities were purchased for cash, which was provided from the working capital of each of the Wynnefield Entities, except in the case of Mr. Obus the investment was made with personal funds. Item 4. Purpose of Transaction. All 568,200 shares of the Issuer's common stock that are now held by the Wynnefield Entities were purchased for investment. Item 5. Interest in Securities of the Issuer. As the result of the sale by the Wynnefield Entities on May 6, 1999 of a total of 85,000 shares of the Issuer's common stock, the Wynnefield Entities now own 568,200 shares of the Issuer's common stock, as follows: 235,620 shares are owned by Wynnefield, 204,680 shares are owned by Wynnefield-I, 83,900 shares are owned by the Fund, 24,000 shares are owned by Channel, and 20,000 shares are owned by Mr. Obus. Such shares represent 4.8% of the 11,825,586 shares of common stock of the Issuer reported as outstanding as of March 31, 1999. (Page 7 of 8 Pages) Accordingly, after this amended statement is filed, the Wynnefield Entities will no longer be required to report their purchases and sales of the Issuer's shares under Section 13 (d) of the Securities Exchange Act of 1934, as amended, unless subsequent purchases bring their collective holdings over the 5% threshold. Messrs. Obus, Landes and Melnick, the managing members of WCM (the general partner of the Partnerships), the officers of the Fund and the partners of Channel have the sole power to vote, or to direct the vote, or to direct the sale or other disposition of, the shares held by the Wynnefield Entities. In such capacities, Messrs. Obus, Landes and Melnick have the sole power to receive or to direct the receipt of the proceeds from the sale of the shares, or any dividends paid with respect to the shares held by the Wynnefield Entities, except in the case of Mr. Obus' shares, only he has the power to vote or dispose of them. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Neither the Wynnefield Entities, WCM, Mr. Obus, Mr. Landes nor Mr. Melnick has any contracts, arrangements, understandings or relationships (legal or otherwise) with respect to the shares of the Issuer. None of such shares is pledged or otherwise subject to a contingency, the occurrence of which would give another person voting or investment power over them. Item 7. Material to be Filed as Exhibits. None SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this amended statement is true, complete and correct. May 17, 1999 (Date) WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I By Wynnefield Capital Management, LLC By: /s/ Nelson Obus -------------------------- Managing Member WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. By: /s/ Nelson Obus -------------------------------- Authorized Officer CHANNEL PARTNERSHIP II By: /s/ Nelson Obus ------------------------------- General Partner /s/ Nelson Obus --------------------------------------------------- (Page 8 of 8 Pages) -----END PRIVACY-ENHANCED MESSAGE-----