-----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, OguGUM/djmZDTO6O/Bqcwuxn5y6cf99+meb1kBYEt9lP+dV4sgM3EBjvIPjcqCyp wGjJYNaHRW9+/NBtcMG0Yg== 0000914121-99-000827.txt : 19990913 0000914121-99-000827.hdr.sgml : 19990913 ACCESSION NUMBER: 0000914121-99-000827 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990910 GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE LP GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE L.P. I GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SYLVAN INC CENTRAL INDEX KEY: 0000861291 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 251603408 STATE OF INCORPORATION: NV FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-41138 FILM NUMBER: 99709465 BUSINESS ADDRESS: STREET 1: 333 MAIN STREET STREET 2: P.O. BOX 249 CITY: SAXONBURG STATE: PA ZIP: 16056-0249 BUSINESS PHONE: 724-352-75 MAIL ADDRESS: STREET 1: 333 MAIN STREET STREET 2: P.O. BOX 249 CITY: SAXONBURG STATE: PA ZIP: 16056-0249 FORMER COMPANY: FORMER CONFORMED NAME: SYLVAN FOODS HOLDINGS INC DATE OF NAME CHANGE: 19930328 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. 2 TO SC 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-1) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(a) (Amendment No. 2) SYLVAN INC. (Name of Issuer) Common Stock, Par Value $0.001 Per Share (Title of Class of Securities) 871371100 (CUSIP Number) Wynnefield Capital, Inc. One Penn Plaza - Suite 4720 New York, New York 10119 Attention: Mr. Nelson Obus (212) 760-0134 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy to: Louis J. Bevilacqua, Esq. Cadwalader, Wickersham & Taft 100 Maiden Lane New York, New York 10038 (212) 504-6057 September 7, 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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box: |_| 13D CUSIP No 871371100 Page 2 of 8 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS: 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 (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF 354,797 SHARES ---------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER OWNED BY ---------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER REPORTING 354,797 PERSON ---------------------------------------------------------- WITH 10. SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 354,797 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.76% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- 13D CUSIP No 871371100 Page 3 of 8 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS: 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 (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) [_] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF 472,203 SHARES ---------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER --- OWNED BY ---------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER REPORTING 472,203 PERSON ---------------------------------------------------------- WITH 10. SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 472,203 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.67% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- 13D CUSIP No 871371100 Page 4 of 8 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS: 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 (SEE ITEM 3) - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) [_] - -------------------------------------------------------------------------------- 6. Cayman Islands - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF 165,500 SHARES ---------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER ----- OWNED BY ---------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER REPORTING 165,500 PERSON ---------------------------------------------------------- WITH 10. SHARED DISPOSITIVE POWER ----- - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 165,500 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.69% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- Page 5 of 8 Pages This Amendment No. 2 relates to the Schedule 13D originally filed on behalf of Wynnefield Partners Small Cap Value, L.P. (the "Partnership"), Wynnefield Small Cap Value, L.P. I (the "Partnership-I") and Wynnefield Small Cap Value Offshore Fund, Ltd. (the "Fund"), with the Securities and Exchange Commission ("SEC") on May 7, 1999 (as amended on August 9, 1999, the "Schedule 13D"), with respect to the common stock (the "Shares") of Sylvan Inc. (the "Issuer"). The Partnership, the Partnership-I and the Fund are sometimes referred to collectively as the "Wynnefield Group." Except as modified hereby, there has been no change in the information previously reported in the Schedule 13D. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The Wynnefield Group entities purchased their Shares for the consideration shown in the following table: Total Consideration Name Number of Shares Paid ---- ---------------- ------------------- Partnership 354,797 $3,839,205 Partnership-I 472,203 $5,403,870 Fund 165,500 $1,899,413 Such Shares were paid for from the working capital of each entity in the Wynnefield Group, each of which maintains an investment fund, consisting of capital contributions from their respective partners and investors and capital appreciation derived therefrom for the principal purpose of buying and selling securities (including financial and money market instruments) and interests in domestic and foreign securities, including, without limitation, convertible securities, stock index features contracts, options, puts and calls on stock and warrants. ITEM 4. PURPOSE OF TRANSACTION. The entities comprising the Wynnefield Group intend to urge the Issuer's management and its Board of Directors to consider all strategic options for surfacing shareholders' value. Mr. Nelson Obus is also considering seeking election to the Issuer's Board of Directors. Except as set forth above, none of the entities in the Wynnefield Group has any present plans or intentions to effect transactions that would result in or relate to any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) As of the close of business on the date hereof, the entities comprising the Wynnefield Group beneficially owned a total of 992,500 Shares, the separate ownership of which is set forth in Item 3 of this Statement. The Shares owned by the Wynnefield Group represent approximately 16.12% of the outstanding Shares of the Issuer, based on the 6,156,136 Shares reported by the Issuer as outstanding on July 23, 1999. Pursuant to Rule 13d-4 of the General Rules and Regulations under the Securities and Exchange Act of 1934, as amended (the Page 6 of 8 Pages "Exchange Act"), Mr. Nelson Obus and Mr. Joshua Landes disclaim beneficial ownership of any Shares owned by the entities comprising the Wynnefield Group and disclaim membership in the Wynnefield Group with respect to the Shares for purposes of Sections 13(d) and 13(g) of the Exchange Act and for any other purpose under any other provision of the Exchange Act and the rules and regulations promulgated thereunder. (b) Mr. Obus and Mr. Landes, by virtue of their status as managing members of Wynnefield Capital Management, LLC, a New York limited liability company ("WCW"), the general partner of the Partnership and Partnership-I, and as officers of the Fund's investment manager, have the power to vote or to direct the vote and the power to dispose and to direct the disposition of the Shares owned by each of the entities comprising the Wynnefield Group and may be deemed to have indirect beneficial ownership of the Shares owned by each of the entities comprising the Wynnefield Group. Since the Wynnefield Group's most recent filing on Schedule 13D with respect to the Issuer, the entities comprising the Wynnefield Group purchased the following Shares of Issuer in the NASDAQ Stock Market: Entity Date No. of Shares Price Per Share ($) ------ ---- ------------- ------------------- Partnership 8/05/99 3,100 10.7500 Partnership 8/10/99 1,400 10.6250 Partnership 8/11/99 3,600 10.8750 Partnership 8/13/99 1,800 10.8750 Partnership 8/13/99 3,600 10.8750 Partnership 8/19/99 1,800 11.7500 Partnership 8/24/99 2,500 12.0625 Partnership 8/27/99 124,000 10.6285 Partnership 9/07/99 28,500 10.2253 Partnership I 8/05/99 4,000 10.7500 Partnership I 8/10/99 1,900 10.6250 Partnership I 8/11/99 4,700 10.8750 Partnership I 8/13/99 2,300 10.8750 Partnership I 8/13/99 4,700 10.8750 Partnership I 8/19/99 2,300 11.7500 Partnership I 8/24/99 3,300 12.0625 Partnership I 8/27/99 2,500 10.5000 Partnership I 8/27/99 164,000 10.6285 Partnership I 9/07/99 37,800 10.2197 Fund 8/05/99 1,400 10.7500 Fund 8/10/99 700 10.6250 Fund 8/11/99 1,700 10.8750 Fund 8/13/99 900 10.8750 Fund 8/13/99 1,700 10.8750 Fund 8/19/99 900 11.7500 Page 7 of 8 Pages Fund 8/24/99 1,200 12.0625 Fund 8/27/99 72,000 10.6284 Fund 9/07/99 13,700 10.1322 (d) Each of the entities comprising the Wynnefield Group as an owner of the Shares reported in this Statement has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares owned by such entity as reported in this Statement. (e) Not applicable. Page 8 of 8 Pages SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. Dated: September 10, 1999 WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I By: /s/ Nelson Obus ------------------------------------------ By: /s/ Nelson Obus -------------------------------------------- Nelson Obus Managing Member WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. By: /s/ Nelson Obus -------------------------------------------- Nelson Obus President -----END PRIVACY-ENHANCED MESSAGE-----