-----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, T2dOvIaxHa2jgQGJMV+vvXDMkf7hL0/B3PZlNZo+Zr6uTv4Qr+aDTMUFZKX1e5YB MsVCrQKAgO3Z7TWRRiUSGg== 0000902664-05-001673.txt : 20050810 0000902664-05-001673.hdr.sgml : 20050810 20050810150836 ACCESSION NUMBER: 0000902664-05-001673 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050810 DATE AS OF CHANGE: 20050810 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WET SEAL INC CENTRAL INDEX KEY: 0000863456 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621] IRS NUMBER: 330415940 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-41525 FILM NUMBER: 051013322 BUSINESS ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 BUSINESS PHONE: 7145839029 MAIL ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SAC CAPITAL ADVISORS LLC CENTRAL INDEX KEY: 0001018103 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2036142000 MAIL ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 SC 13G 1 sc13g.txt THE WET SEAL, INC. - ------------ ----------------------------------------------------------- SEC POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF 1746 (11-02) INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. - ------------ ----------------------------------------------------------- /-------------------------------/ UNITED STATES / OMB APPROVAL /-------------------------------/ SECURITIES AND EXCHANGE COMMISSION /OMB Number: 3235-0145 / /-------------------------------/ WASHINGTON, D.C. 20549 /Expires: December 31, 2005 / /-------------------------------/ /Estimated average burden hours / /per response . . . . . 11 / /-------------------------------/ SCHEDULE 13G Under the Securities Exchange Act of 1934 The Wet Seal, Inc. - ------------------------------------------------------------------------------- (Name of Company) Class A Common Stock, $0.10 par value - ------------------------------------------------------------------------------- (Title of Class of Securities) 961840105 - ------------------------------------------------------------------------------- (CUSIP Number of Class of Securities) Peter A. Nussbaum S.A.C. Capital Advisors, LLC 72 Cummings Point Road Stamford, CT 06902 (203) 890-2000 - ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 3, 2005 - ------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Schedule) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [ X ] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 the disclosures provided in a prior cover page. The information required in 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). Page 1 of 11 Pages SCHEDULE 13G - ------------------------------------------------ ------------------ CUSIP NO. 961840105 PAGE 2 OF 11 PAGES - ------------------------------------------------ ------------------ - ----------- ------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) S.A.C. Capital Advisors, LLC - ----------- ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) /X/ - ----------- ------------------------------------------------------------------- 3 SEC USE ONLY - ----------- ------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------- ------------------------------------------------------------------- 5 SOLE VOTING POWER 0 --------- ----------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE OWNED BY UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES EACH OR CONVERSION OF PREFERRED STOCK) REPORTING --------- ----------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 --------- ----------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- ------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.99% - ----------- ------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - ----------- ------------------------------------------------------------------- SCHEDULE 13G - ------------------------------------------------ ------------------ CUSIP NO. 961840105 PAGE 3 OF 11 PAGES - ------------------------------------------------ ------------------ - ----------- ------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) S.A.C. Capital Management, LLC - ----------- ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) /X/ - ----------- ------------------------------------------------------------------- 3 SEC USE ONLY - ----------- ------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------- ------------------------------------------------------------------- 5 SOLE VOTING POWER 0 --------- ----------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE OWNED BY UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES EACH OR CONVERSION OF PREFERRED STOCK) REPORTING --------- ----------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 --------- ----------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- ------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.99% - ----------- ------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - ----------- ------------------------------------------------------------------- SCHEDULE 13G - ------------------------------------------------ ------------------ CUSIP NO. 961840105 PAGE 4 OF 11 PAGES - ------------------------------------------------ ------------------ - ----------- ------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) S.A.C. Capital Associates, LLC - ----------- ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) /X/ - ----------- ------------------------------------------------------------------- 3 SEC USE ONLY - ----------- ------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Anguilla, British West Indies - ----------- ------------------------------------------------------------------- 5 SOLE VOTING POWER 0 --------- ----------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE OWNED BY UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES EACH OR CONVERSION OF PREFERRED STOCK) REPORTING --------- ----------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 --------- ----------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- ------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.99% - ----------- ------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - ----------- ------------------------------------------------------------------- SCHEDULE 13G - ------------------------------------------------ ------------------ CUSIP NO. 961840105 PAGE 5 OF 11 PAGES - ------------------------------------------------ ------------------ - ----------- ------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Steven A. Cohen - ----------- ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) /X/ - ----------- ------------------------------------------------------------------- 3 SEC USE ONLY - ----------- ------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------- ------------------------------------------------------------------- 5 SOLE VOTING POWER 0 --------- ----------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE OWNED BY UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES EACH OR CONVERSION OF PREFERRED STOCK) REPORTING --------- ----------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 --------- ----------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 5,081,264 (INCLUDING 1,621,100 SHARES ISSUABLE UPON EXERCISE OF WARRANTS, CONVERSION OF NOTES OR CONVERSION OF PREFERRED STOCK) - ----------- ------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- ------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.99% - ----------- ------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ----------- ------------------------------------------------------------------- CUSIP No. 961840105 13G Page 6 of 11 Pages This 13G is being filed by S.A.C. Capital Associates, LLC ("SAC CAPITAL ASSOCIATES"), S.A.C. Capital Advisors, LLC ("SAC CAPITAL ADVISORS"), S.A.C. Capital Management, LLC ("SAC CAPITAL MANAGEMENT") and Steven A. Cohen ("MR. COHEN" and, together with SAC Capital Associates, SAC Capital Advisors and SAC Capital Management, the "REPORTING PERSONS") relating to the Class A Common Stock, par value $0.10 per share, of The Wet Seal, Inc., a Delaware corporation (the "COMPANY"). Unless the context otherwise requires, references herein to the "Shares" are to such Class A Common Stock of the Company. The Reporting Persons have previously filed a statement on Schedule 13D on November 3, 2004 [File Number 005-41525], as amended on November 9, 2004, as amended on December 16, 2004, as amended on January 20, 2005, as amended on May 2, 2005, as amended on May 5, 2005, as amended on May 10, 2005 and as amended on August 9, 2005 (collectively, as amended, the "SCHEDULE 13D") to report its beneficial ownership of Common Stock of the Company that is the subject of this Schedule 13G, and is filing this schedule pursuant to ss.240.13d-1(h) as the Reporting Persons have become passive investors in the Company. Item 1(a) - NAME OF ISSUER: The Wet Seal, Inc. Item 1(b) - ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 26972 Burbank Foothill Ranch, California 92610 Items 2(a) - NAME OF PERSON FILING: This statement is filed by: (i) S.A.C. Capital Advisors with respect to Shares of the Issuer beneficially owned by S.A.C. Capital Associates; (ii) S.A.C. Capital Management with respect to Shares beneficially owned by SAC Capital Associates; (iii) SAC Capital Associates with respect to Shares beneficially owned by it; and (iv) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors, SAC Capital Management and SAC Capital Associates. Item 2(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE: The address of the principal business office of (i) SAC Capital Advisors and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC Capital Management is 540 Madison Avenue, New York, New York 10022, and (iii) SAC Capital Associates is P.O. Box 58, Victoria House, The Valley, Anguilla, British West Indies. Item 2(c) - CITIZENSHIP: SAC Capital Advisors and SAC Capital Management are Delaware limited liability companies. SAC Capital Associates is an Anguillan limited liability company. Mr. Cohen is a United States citizen. Item 2(d) - TITLE OF CLASS OF SECURITIES: CUSIP No. 961840105 13G Page 7 of 11 Pages Class A Common Stock, $0.10 par value Item 2(e) - CUSIP NUMBER: 961840105 Item 3 - NOT APPLICABLE Item 4 - OWNERSHIP: As of the close of business on August 7, 2005: 1. S.A.C. Capital Advisors, LLC (a) Amount beneficially owned: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (b) Percent of class: 9.99% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) 2. S.A.C. Capital Management, LLC (a) Amount beneficially owned: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (b) Percent of class: 9.99% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) CUSIP No. 961840105 13G Page 8 of 11 Pages 3. S.A.C. Capital Associates, LLC (a) Amount beneficially owned: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (b) Percent of class: 9.99% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) 4. Steven A. Cohen (a) Amount beneficially owned: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (b) Percent of class: 9.99% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 5,081,264 (including 1,621,100 shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) Prentice Capital Management, LP, a Delaware limited partnership ("Prentice Capital Management") manages various investments of SAC Capital Associates, including the SAC Capital Associates' investments in the Issuer. Prentice Capital Management has, except in limited circumstances, the power to vote or to direct the vote and to dispose or to direct the disposition of the Shares that SAC Capital Associates may be deemed to beneficially own as of the date hereof. As a result, the Reporting Persons may be deemed to constitute a "group" within the meaning of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, with Prentice Capital Management and its affiliates with respect to their investments in the Issuer. Each of the Reporting Persons disclaims beneficial ownership of any securities owned by Prentice Capital Management or its affiliates. CUSIP No. 961840105 13G Page 9 of 11 Pages SAC Capital Advisors, SAC Capital Management, and Mr. Cohen own directly no Shares. Pursuant to investment agreements, each of SAC Capital Advisors and SAC Capital Management share all investment and voting power with respect to the securities held by SAC Capital Associates. As stated above, Prentice Capital Management manages various investments of SAC Capital Associates, including the SAC Capital Associates' investments in the Issuer and has, except in limited circumstances, the power to vote or to direct the vote and to dispose or to direct the disposition of the Shares that SAC Capital Associates may be deemed to beneficially own as of the date hereof. Mr. Cohen controls both SAC Capital Advisors and SAC Capital Management. The 5,081,264 Shares (including 1,621,100 Shares issuable upon exercise of warrants, conversion of notes or conversion of preferred stock) reported on this Schedule 13G constitute approximately 9.99% of the Shares outstanding based upon the 44,630,141 Shares stated to be outstanding by the Company as of June 10, 2005, in the Issuer's Form 10-Q for the period ending on April 30, 2005, filed with the Securities and Exchange Commission on June 16, 2005 and the 4,612,245 Shares issued upon conversion of notes and preferred stock as reported by Prentice Capital Management and its affiliates in their Schedule 13D/A, dated August 9, 2005. As described in Item 4 of Amendment No. 6 to the Schedule 13D, SAC Capital Associates previously acquired Series C Preferred Stock, warrants and notes, which contain a blocker that prevent the exercise of such securities if after such exercise SAC Capital Associates would own more than 9.99% of the Common Stock of the Company (the "Blocker"). If the Blocker were not in place, as of the date hereof SAC Capital Associates may be deemed to own 31,154,813 shares of Common Stock (representing 6,040 shares of Series C Preferred Stock that are initially convertible into 2,013,333 shares of Common Stock and warrants and notes initially exercisable into 29,141,480 shares of Common Stock). Each of SAC Capital Advisors, SAC Capital Management and Mr. Cohen disclaim beneficial ownership of any of the securities covered by this statement. Item 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. [ ] Item 6 - OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON: Not Applicable Item 7 - IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Not Applicable Item 8 - IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP: Not Applicable CUSIP No. 961840105 13G Page 10 of 11 Pages Item 9 - NOTICE OF DISSOLUTION OF GROUP: Not Applicable Item 10 - CERTIFICATION: By signing below the signatory certifies that, to the best of his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 961840105 13G Page 11 of 11 Pages 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: August 10, 2005 S.A.C. CAPITAL ADVISORS, LLC By: /s/ PETER NUSSBAUM ------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ PETER NUSSBAUM ------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL ASSOCIATES, LLC By: /s/ PETER NUSSBAUM ------------------------------------- Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ PETER NUSSBAUM ------------------------------------- Name: Peter Nussbaum Title: Authorized Person -----END PRIVACY-ENHANCED MESSAGE-----