-----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, Fq/GmsRkhmYbiaOs+HVHIOH4VoqnF9zHCNO6NJAfv54MgNob7POF/35XKMxjixWL hEiF3kVIhsDaHPv52ujtHg== 0000902664-09-002324.txt : 20090604 0000902664-09-002324.hdr.sgml : 20090604 20090603211728 ACCESSION NUMBER: 0000902664-09-002324 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090604 DATE AS OF CHANGE: 20090603 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 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41525 FILM NUMBER: 09872738 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: Prentice Capital Management, LP CENTRAL INDEX KEY: 0001326150 IRS NUMBER: 731728931 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 900 THIRD AVENUE, 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: (212) 756-8040 MAIL ADDRESS: STREET 1: 900 THIRD AVENUE, 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 p09-1180sc13da.txt THE WET SEAL, INC.
- -------------------------------------------------------------------------------------------- SEC POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION 1746 (11-02) 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 -------------------------------- WASHINGTON, D.C. 20549 OMB Number: 3235-0145 -------------------------------- Expires: December 31, 2005 -------------------------------- Estimated average burden hours per response . . . . . 11 --------------------------------
SCHEDULE 13D (Amendment No. 6) Under the Securities Exchange Act of 1934 The Wet Seal, Inc. - -------------------------------------------------------------------------------- (Name of Company) Class A Common Stock, par value $0.10 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 961840105 - -------------------------------------------------------------------------------- (CUSIP Number of Class of Securities) Mathew Hoffman, Esq. Eleazer Klein Prentice Capital Management, LP Schulte Roth & Zabel LLP 623 Fifth Avenue, 32nd Floor 919 Third Avenue New York, NY 10022 New York, NY 10022 (212) 756-8040 (212) 756-2376 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 1, 2009 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Schedule) 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 ss.ss.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 ss.240.13d-7 for other parties to whom copies are to be sent. * 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). SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 2 OF 12 PAGES - -------------------------------- ----------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Prentice Capital Management, LP - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------- --------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF 0 SHARES --------- ------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 4,052,453 REPORTING --------- ----------------------------------------------- PERSON WITH 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,052,453 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 4,052,453 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 4.01% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - ----------- -------------------------------------------------------------------- SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 3 OF 12 PAGES - -------------------------------- ----------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Prentice Capital GP, LLC - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------- --------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF 0 SHARES --------- ------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 415,078 REPORTING --------- ------------------------------------------------ PERSON WITH 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 415,078 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 415,078 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 0.4% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 4 OF 12 PAGES - -------------------------------- ----------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Prentice Management GP, LLC - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------- --------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF 0 SHARES --------- ------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 4,052,453 REPORTING --------- ------------------------------------------------ PERSON WITH 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,052,453 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 4,052,453 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 4.01% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 5 OF 12 PAGES - -------------------------------- ----------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Michael Zimmerman - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS* - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF 66,000 SHARES --------- ------------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 4,052,453 REPORTING --------- ------------------------------------------------ PERSON WITH 9 SOLE DISPOSITIVE POWER 66,000 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,052,453 - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 4,118,453 - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 4.07% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 6 OF 12 PAGES - -------------------------------- ----------------------- Reference is made to the Statement on Schedule 13D filed on May 12, 2005, as amended on August 4, 2005, August 26, 2005, November 2, 2005, April 12, 2006, and December 29, 2006 (the "Schedule 13D"), on behalf of, among others, Prentice Capital Management, LP ("Prentice Capital Management"), Prentice Capital GP, LLC ("Prentice Capital GP"), Prentice Management GP, LLC ("Prentice Management GP") and Michael Zimmerman ("Mr. Zimmerman" and, together with Prentice Capital Management, Prentice Capital GP and Prentice Management GP, 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 the Class A Common Stock of the Company. Prentice Capital Management serves as investment manager to investment funds (including Prentice Capital Partners, LP, Prentice Capital Partners QP, LP, Prentice Capital Offshore, Ltd., Prentice Special Opportunities, LP, Prentice Special Opportunities Offshore, Ltd. and Prentice Special Opportunities Master, L.P.)(the "Prentice Funds") and manages investments for certain entities in Managed Accounts with respect to which it has, except in certain limited circumstances, voting and dispositive authority over the Shares reported in this Amendment. Mr. Zimmerman is the Managing Member of (i) Prentice Management GP, the general partner of Prentice Capital Management, (ii) Prentice Capital GP, the general partner of certain of the Prentice Funds and (iii) Prentice Capital GP II, LLC, the general partner of Prentice Capital GP II, LP, which is the general partner of certain of the Prentice Funds. As such, Mr. Zimmerman may be deemed to control Prentice Capital Management and the Prentice Funds and Managed Accounts and therefore may be deemed to be the beneficial owner of the Shares reported in this Amendment. The Reporting Persons are making this single, joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Act. Each Reporting Person disclaims beneficial ownership of all Shares, except to the extent of its pecuniary interest therein. All capitalized terms used but not defined herein shall have the definitions assigned to them in the Schedule 13D. This Amendment No. 6 to the Schedule 13D (the "Amendment") amends the Schedule 13D as follows. SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 7 OF 12 PAGES - -------------------------------- ----------------------- ITEM 4. PURPOSE OF TRANSACTION. Between June 1, 2009 and June 3, 2009, an aggregate of 2,605,270 Shares were sold by the Prentice Funds and Managed Accounts at prices ranging from $2.99 to $3.24. See Exhibit A attached hereto. ITEM 5. INTEREST IN SECURITIES OF THE COMPANY. (a) As of the date of this Amendment, (i) each of Prentice Capital Management and Prentice Management GP may be deemed to beneficially own, in the aggregate, 4,052,453 Shares (representing Shares issuable upon exercise of warrants), representing approximately 4.01% of the Company's outstanding Class A Common Stock (based upon the 97,045,637 Shares stated to be outstanding by the Company as of May 29, 2009, in the Company's Form 10-Q for the fiscal quarter ended May 2, 2009, filed with the Securities and Exchange Commission on June 2, 2009), (ii) Prentice Capital GP may be deemed to beneficially own, in the aggregate, 415,078 Shares (representing Shares issuable upon exercise of warrants), representing approximately 0.4% of the Company's outstanding Class A Common Stock (based upon the 97,045,637 Shares stated to be outstanding by the Company as of May 29, 2009, in the Company's Form 10-Q for the fiscal quarter ended May 2, 2009, filed with the Securities and Exchange Commission on June 2, 2009) and (iii) Mr. Zimmerman may be deemed to beneficially own, in the aggregate, 4,118,453 Shares (representing 66,000 Shares and 4,052,453 Shares issuable upon exercise of warrants), representing approximately 4.07% of the Company's outstanding Class A Common Stock (based upon the 97,045,637 Shares stated to be outstanding by the Company as of May 29, 2009 in the Company's Form SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 8 OF 12 PAGES - -------------------------------- ----------------------- 10-Q for the fiscal quarter ended May 2, 2009, filed with the Securities and Exchange Commission on June 2, 2009). (b) Prentice Capital Management has the power to vote or to direct the vote and to dispose or to direct the disposition of the Shares that the Prentice Funds and, except in limited circumstances, the Managed Accounts beneficially owns as of the date hereof. Each of Prentice Capital Management and Prentice Capital GP has the power to vote or to direct the vote and to dispose or to direct the disposition of the Shares that Prentice Capital Partners QP, LP, Prentice Capital Partners, LP and the Managed Accounts (other than SAC) beneficially owns as of the date hereof. Mr. Zimmerman has the power to voting or to direct the vote and to dispose or to direct the disposition of the 66,000 Shares held by him. In addition, Mr. Zimmerman may be deemed to share the power to vote or to direct the vote and to dispose or to direct the disposition of the Shares held by the Prentice Funds and Managed Accounts due to the fact that Mr. Zimmerman is the Managing Member of (i) Prentice Management GP, the general partner of Prentice Capital Management, (ii) Prentice Capital GP, the general partner of certain of the Prentice Funds and (iii) Prentice Capital GP II, LLC, the general partner of Prentice Capital GP II, LP, which is the general partner of certain of the Prentice Funds. (c) See Exhibit A attached hereto. The transactions set forth on Exhibit A, as described in Item 4, were effected by the Prentice Funds and Managed Accounts within 60 days preceding the filing of this Amendment. (d) The limited partners or shareholders of the Prentice Funds and Managed Accounts have the right to participate indirectly in the receipt of dividends from, or proceeds from the sale of, the Shares held by such Prentice Funds or Managed Accounts, as applicable, in accordance with their respective ownership interests in their respective Prentice Funds and Managed Accounts. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE COMPANY. Pursuant to Rule 13d-1(k) promulgated under the Exchange Act, the Reporting Persons have previously entered into an agreement with respect to the joint filing of the Schedule 13D and any amendment or amendments thereto (including this Amendment), which joint filing agreement is incorporated by reference herein. SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 9 OF 12 PAGES - -------------------------------- ----------------------- Except as otherwise set forth herein, the Reporting Persons do not have any contract, arrangement, understanding or relationship with any person with respect to securities of the Company. SCHEDULE 13D - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 10 OF 12 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: June 3, 2009 PRENTICE CAPITAL MANAGEMENT, LP By: /s/ Mathew Hoffman ----------------------------- Name: Mathew Hoffman Title: General Counsel PRENTICE CAPITAL GP, LLC By: /s/ Mathew Hoffman ----------------------------- Name: Mathew Hoffman Title: General Counsel PRENTICE MANAGEMENT GP, LLC By: /s/ Michael Zimmerman ----------------------------- Name: Michael Zimmerman Title: Managing Member - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 11 OF 12 PAGES - -------------------------------- ----------------------- MICHAEL ZIMMERMAN /s/ Michael Zimmerman - ----------------------------- Michael Zimmerman - -------------------------------- ----------------------- CUSIP NO. 961840105 PAGE 12 OF 12 PAGES - -------------------------------- ----------------------- EXHIBIT A LIST OF TRANSACTIONS
Name Date Number of Shares Price Per Share Sold Prentice Funds and Managed Accounts 06/01/09 359,212 $3.19 (1) Prentice Funds and Managed Accounts 06/02/09 300,000 $3.10 Prentice Funds and Managed Accounts 06/02/09 23,200 $3.10 Prentice Funds and Managed Accounts 06/02/09 495,441 $3.09 (2) Prentice Funds and Managed Accounts 06/03/09 33,816 $3.05 (3) Prentice Funds and Managed Accounts 06/03/09 1,393,601 $2.99
(1) This price represents a weighted average price. The range of prices for the reported transactions was $3.15 to $3.24. (2) This price represents a weighted average price. The range of prices for the reported transactions was $3.06 to $3.16. (3) This price represents a weighted average price. The range of prices for the reported transactions was $3.00 to $3.10. -----END PRIVACY-ENHANCED MESSAGE-----