-----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, Urvf7uftkiJN7KRLBwk0hBuwJcYIKXd3RMUnbxE4DSmfKF9Jyzhs3ptBHtm2ZphN fsepgatwDjUoJ2uIQnVjIA== 0001144204-09-018639.txt : 20090402 0001144204-09-018639.hdr.sgml : 20090402 20090402171628 ACCESSION NUMBER: 0001144204-09-018639 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090402 DATE AS OF CHANGE: 20090402 GROUP MEMBERS: GREGORY BYLINSKY GROUP MEMBERS: JEFFERSON GRAMM SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PEERLESS SYSTEMS CORP CENTRAL INDEX KEY: 0000897893 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 953732595 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-48579 FILM NUMBER: 09728724 BUSINESS ADDRESS: STREET 1: 2381 ROSECRANS AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3105360908 MAIL ADDRESS: STREET 1: 2381 ROSECRANS AVE CITY: EL SEGUNDO STATE: CA ZIP: 90245 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Bandera Partners LLC CENTRAL INDEX KEY: 0001399386 IRS NUMBER: 205269850 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 26 BROADWAY, SUITE 1607 CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 2122324582 MAIL ADDRESS: STREET 1: 26 BROADWAY, SUITE 1607 CITY: NEW YORK STATE: NY ZIP: 10004 SC 13G/A 1 v144838_sc13ga.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* Peerless Systems Corporation ---------------------------------------- (Name of Issuer) Common Stock --------------------------------------------------- (Title of Class of Securities) 705536100 ----------------- (CUSIP Number) March 30, 2009 ----------------------------------------------------- (Date of Event Which Requires Filing of this Statement) 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 12 Pages CUSIP No. 705536100 Schedule 13G - -------------------------------------------------------------------------------- 1) NAMES OF REPORTING PERSONS Bandera Partners LLC - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5) SOLE VOTING POWER 1,885,600 SHARES ----------------------------------------------------------- BENEFICIALLY 6) SHARED VOTING POWER 0 OWNED BY ----------------------------------------------------------- EACH 7) SOLE DISPOSITIVE POWER 1,885,600 REPORTING ----------------------------------------------------------- PERSON WITH 8) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED 1,885,600 BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.0% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO - -------------------------------------------------------------------------------- Page 2 of 12 Pages CUSIP No. 705536100 Schedule 13G - -------------------------------------------------------------------------------- 1) NAMES OF REPORTING PERSONS Gregory Bylinsky - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5) SOLE VOTING POWER 0 SHARES ----------------------------------------------------------- BENEFICIALLY 6) SHARED VOTING POWER 1,885,600 OWNED BY ----------------------------------------------------------- EACH 7) SOLE DISPOSITIVE POWER 0 REPORTING ----------------------------------------------------------- PERSON WITH 8) SHARED DISPOSITIVE POWER 1,885,600 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED 1,885,600 BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.0% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 3 of 12 Pages CUSIP No. 705536100 Schedule 13G - -------------------------------------------------------------------------------- 1) NAMES OF REPORTING PERSONS Jefferson Gramm - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5) SOLE VOTING POWER 0 SHARES ----------------------------------------------------------- BENEFICIALLY 6) SHARED VOTING POWER 1,885,600 OWNED BY ----------------------------------------------------------- EACH 7) SOLE DISPOSITIVE POWER 0 REPORTING ----------------------------------------------------------- PERSON WITH 8) SHARED DISPOSITIVE POWER 1,885,600 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED 1,885,600 BY EACH REPORTING PERSON - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.0% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 4 of 12 Pages - -------------------------------------------------------------------------------- Item 1(a). Name of Issuer: Peerless Systems Corporation - -------------------------------------------------------------------------------- Item 1(b). Address of Issuer's Principal Executive Offices: 2381 Rosecrans Avenue El Segundo, California 90245 - -------------------------------------------------------------------------------- Item 2(a). Name of Person Filing: This Schedule is being filed jointly by the following reporting persons (hereinafter sometimes collectively referred to as the "Reporting Persons") pursuant to an Agreement of Joint Filing attached as Exhibit A to the Schedule 13G filed with the Securities and Exchange Commission on October 27, 2008: (i) Bandera Partners LLC, a Delaware limited liability company ("Bandera Partners"); (ii) Gregory Bylinsky; and (iii) Jefferson Gramm. Bandera Partners, Mr. Bylinsky and Mr. Gramm are filing this Schedule with respect to 1,885,600 shares of Common Stock (the "Master Fund's Shares") directly owned by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership ("Bandera Master Fund"). Bandera Partners is the investment manager of Bandera Master Fund and may be deemed to have beneficial ownership over the Master Fund's Shares by virtue of the sole and exclusive authority granted to Bandera Partners by Bandera Master Fund to vote and dispose of the Master Fund's Shares. Mr. Bylinsky and Mr. Gramm are Managing Partners, Managing Directors and Portfolio Managers of Bandera Partners. - -------------------------------------------------------------------------------- Page 5 of 12 Pages - -------------------------------------------------------------------------------- Item 2(b). Address of Principal Business Office or, if None, Residence: The principal business office address of each of Bandera Partners, Mr. Bylinsky and Mr. Gramm is: 26 Broadway, Suite 1607 New York, New York 10004 - -------------------------------------------------------------------------------- Item 2(c). Citizenship: The place of organization or citizenship of each of the Reporting Persons is as follows: Name of Reporting Person Place of Organization/Citizenship - ------------------------ --------------------------------- Bandera Partners LLC Delaware Gregory Bylinsky United States Jefferson Gramm United States - -------------------------------------------------------------------------------- Item 2(d). Title of Class of Securities: Common Stock - -------------------------------------------------------------------------------- Item 2(e). CUSIP Number: 705536100 - -------------------------------------------------------------------------------- Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: Not Applicable. - -------------------------------------------------------------------------------- Page 6 of 12 Pages - -------------------------------------------------------------------------------- Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
(i) Bandera Partners LLC -------------------- (a) Amount beneficially owned: 1,885,600 (b) Percent of class: 11.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 1,885,600 (ii) Shared power to vote or to direct the vote 0 (iii) Sole power to dispose or to direct the disposition of 1,885,600 (iv) Shared power to dispose or to direct the disposition of 0 (ii) Gregory Bylinsky ---------------- (a) Amount beneficially owned: 1,885,600 (b) Percent of class: 11.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote 1,885,600 (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of 1,885,600 (iii) Jefferson Gramm --------------- (a) Amount beneficially owned: 1,885,600 (b) Percent of class: 11.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 0 (ii) Shared power to vote or to direct the vote 1,885,600 (iii) Sole power to dispose or to direct the disposition of 0 (iv) Shared power to dispose or to direct the disposition of 1,885,600
Page 7 of 12 Pages The number of shares beneficially owned and the percentage of outstanding shares represented thereby for each Reporting Person has been computed in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. The percentages of ownership described above are based on 17,084,353 shares of Common Stock issued and outstanding as of December 4, 2008, as reported in the issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 12, 2008. - -------------------------------------------------------------------------------- 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. The right to receive dividends from, or the proceeds from the sale of, the Master Fund's Shares reported in this Schedule as beneficially owned by Bandera Partners, Mr. Bylinsky and Mr. Gramm is held by Bandera Master Fund, a fund for which Bandera Partners serves as investment manager. The general partner and limited partners of Bandera Master Fund have the right to participate in the receipt of dividends from, and proceeds from the sale of, the Master Fund's Shares in accordance with their ownership interests in Bandera Master Fund. Bandera Partners, Mr. Bylinsky and Mr. Gramm disclaim beneficial ownership of the Master Fund's Shares reported in this statement pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended. - -------------------------------------------------------------------------------- Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not Applicable. - -------------------------------------------------------------------------------- Page 8 of 12 Pages - -------------------------------------------------------------------------------- Item 8. Identification and Classification of Members of the Group. Not Applicable. - -------------------------------------------------------------------------------- Item 9. Notice of Dissolution of Group. Not Applicable. - -------------------------------------------------------------------------------- Page 9 of 12 Pages - -------------------------------------------------------------------------------- Item 10. Certification. By signing below I certify that, to the best of my 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. - -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to it is true, complete and correct. Dated: April 2, 2009 BANDERA PARTNERS LLC By: /s/ Gregory Bylinsky ---------------------------------------- Gregory Bylinsky Managing Director Page 10 of 12 Pages - -------------------------------------------------------------------------------- Item 10. Certification. By signing below I certify that, to the best of my 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. - -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to him is true, complete and correct. Dated: April 2, 2009 /s/ Gregory Bylinsky -------------------------- Gregory Bylinsky Page 11 of 12 Pages - -------------------------------------------------------------------------------- Item 10. Certification. By signing below I certify that, to the best of my 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. - -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of the knowledge and belief of the undersigned Reporting Person, the undersigned Reporting Person certifies that the information set forth in this statement with respect to him is true, complete and correct. Dated: April 2, 2009 /s/ Jefferson Gramm -------------------------- Jefferson Gramm Page 12 of 12 Pages -----END PRIVACY-ENHANCED MESSAGE-----