-----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, S5+LrFUrwVkNYFZ3yWokVX7s6CDV0XynZjwP4Py3bVLgl8kAPTtyFQI7XtcDZrYI sPoC3exy3ZmPd3DrEa6oXA== 0000950134-07-011856.txt : 20070517 0000950134-07-011856.hdr.sgml : 20070517 20070517153539 ACCESSION NUMBER: 0000950134-07-011856 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20070517 DATE AS OF CHANGE: 20070517 GROUP MEMBERS: GREG RACZ GROUP MEMBERS: OCTAVIAN ADVISORS LP GROUP MEMBERS: OCTAVIAN ASSET MANAGEMENT LLC GROUP MEMBERS: OCTAVIAN GLOBAL PARTNERS LLC GROUP MEMBERS: OCTAVIAN MANAGEMENT LLC GROUP MEMBERS: RICHARD HUROWITZ SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MIDWEST AIR GROUP INC CENTRAL INDEX KEY: 0000948845 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 391828757 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44827 FILM NUMBER: 07861218 BUSINESS ADDRESS: STREET 1: 6744 S HOWELL AVE CITY: OAK CREEK STATE: WI ZIP: 53154 BUSINESS PHONE: 4147474000 FORMER COMPANY: FORMER CONFORMED NAME: MIDWEST EXPRESS HOLDINGS INC DATE OF NAME CHANGE: 19950802 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: OCTAVIAN MASTER FUND, LP CENTRAL INDEX KEY: 0001384683 IRS NUMBER: 980513051 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O OCTAVIAN GLOBAL PARTNERS, LLC STREET 2: 650 MADISON AVENUE, 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-224-9520 MAIL ADDRESS: STREET 1: C/O OCTAVIAN GLOBAL PARTNERS, LLC STREET 2: 650 MADISON AVENUE, 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 d46882sc13dza.htm AMENDMENT TO SCHEDULE 13D sc13dza
 

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(Rule 13d-101)

Under the Securities Exchange Act of 1934
(Amendment No. 2 )*

MIDWEST AIR GROUP, INC.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
597911106
(CUSIP Number)
Octavian Management, LLC
650 Madison Avenue, 26th Floor
New York, New York 10022
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 17, 2007
(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §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).

 
 


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Octavian Master Fund, L.P.
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Cayman Islands
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,520,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,520,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,520,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.2%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Octavian Global Partners, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Octavian Management, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Octavian Advisors, LP
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Octavian Asset Management, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Greg Racz
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  United States
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

                     
CUSIP No.
 
597911106 
 

 

           
1   NAMES OF REPORTING PERSONS:

   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Richard Hurowitz
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o 
  (b)   þ 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  WC
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Untied States
       
  7   SOLE VOTING POWER:
     
NUMBER OF   1,640,000
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,640,000
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,640,000
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.7%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN
*SEE INSTRUCTIONS BEFORE FILLING OUT


 

SCHEDULE 13D/A
     This Amendment No. 2 (“Amendment”) to Schedule 13D (the “Schedule 13D”), relating to shares of Common Stock, par value $0.01 per share (the “Shares”), of Midwest Air Group, Inc. (the “Issuer “), is being filed with the Securities and Exchange Commission on behalf of (i) Octavian Master Fund, L.P., a Cayman Islands limited partnership (“Octavian Master”); (ii) Octavian Global Partners, LLC, a Delaware limited liability company (“Octavian Partners”) and general partner of Octavian Master and Octavian Special Master Fund, L.P. (“Octavian Special Master”); (iii) Octavian Management, LLC, a Delaware limited liability company and managing member of Octavian Partners (“Octavian Management”); (iv) Octavian Advisors, LP, a Delaware limited partnership and investment manager of Octavian Master and Octavian Special Master (“Octavian Advisors”); (v) Octavian Asset Management, LLC, a Delaware limited liability company and general partner of Octavian Advisors (“Octavian Asset Management”); (vi) Mr. Greg Racz, a managing member of Octavian Management and Octavian Asset Management (“Mr. Racz”); and (vii) Mr. Richard Hurowitz, a managing member of Octavian Management and Octavian Asset Management (“Mr. Hurowitz” and together with those persons listed in (i)-(vi) above, the “Reporting Persons”).
     This Amendment is being filed to amend and restate Items 3, 4, 5 and 7 as follows:
Item 3. Source and Amount of Funds
          As of the date hereof, the Reporting Persons have invested in Shares of the Issuer in the amount of: $22,252,138.31. Currently, all Shares of the Issuer as of the date hereof are held by Octavian Master and Octavian Special Master. The above amount includes any commissions incurred in making the investments. The source of these funds was the working capital of the Reporting Persons.
Item 4. Purpose of the Transaction
          On the date hereof, the Reporting Persons will issue a press release relating to a proposal from AirTran Airways, Inc. to combine AirTran Airways, Inc. with the Issuer. A copy of the May 17, 2007 press release is attached hereto as Exhibit 3.
          The Reporting Persons purchased the Shares based on the belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Although Reporting Person has no specific plan or proposal to acquire additional Shares or dispose of the Shares, consistent with its investment purpose, Reporting Person at any time and from time to time may acquire additional Shares or dispose of any or all of its Shares depending upon an ongoing evaluation of the investment in the Shares, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Person and/or other investment considerations The purpose of the acquisition of the Shares is for investment, and the acquisitions of the Shares were made in the ordinary course of business and were not made for the purpose of acquiring control of the Issuer.
          Also, consistent with the investment purpose, the Reporting Persons may engage in communications with one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer and/or one or more representatives of the Issuer regarding the Issuer, including but not limited to AirTran’s proposal to the Issuer, as described above.

 


 

          Except to the extent the foregoing may be deemed a plan or proposal, Reporting Person has no plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Person may, at any time and from time to time, review or reconsider its position and/or change its purpose and/or formulate plans or proposals with respect thereto.
Item 5. Interest in Securities of the Issuer
          (a) As of the date hereof, the Reporting Persons, other than Octavian Master, beneficially own 1,640,000 Shares of the Issuer and Octavian Master beneficially owns 1,520,000 Shares of the Issuer, which represents 6.7% and 6.2%, respectively, of the Issuer’s outstanding Shares, which such percentages were calculated by dividing (i)  1,640,000 and 1,520,000, respectively, by (ii) 24,589,217 Shares outstanding as of May 11, 2007, based upon the Issuer’s most recent Schedule 14D-9 filed with the Securities and Exchange Commission on May 16, 2007.
          (b) The Reporting Persons, other than Octavian Master, have the power to vote and dispose of the 1,640,000 Shares held by Octavian Master and Octavian Special Master; and Octavian Master has the power to vote and dispose of the 1,520,000 Shares it holds.
          The filing of this statement on Schedule 13D shall not be construed as an admission that any of the Reporting Persons is for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any of the 1,640,000 Shares held by Octavian Master or Octavian Special Master. Pursuant to Rule 13d-4, each of the Reporting Persons disclaim all such beneficial ownership.
          (c) The transactions in the Issuer’s securities by the Reporting Persons during the sixty days prior to the obligation to file this Schedule 13D are listed as Exhibit 2 attached hereto and made a part hereof.
          (d) Not Applicable.
          (e) Not Applicable.
Item 7. Material to be Filed as Exhibits
Exhibit 1   Joint Filing Agreement by and among the Reporting Persons.
Exhibit 2   Transactions in the Issuer’s securities by the Reporting Persons in the sixty days prior to the obligation to file this Schedule 13D.
Exhibit 3   A copy of the May 17, 2007 press release by the Reporting Persons.

 


 

Signature
     After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: May 17, 2007
       
    OCTAVIAN MASTER FUND, L.P.
 
       
 
  By:   Octavian Global Partners, LLC
    General Partner
 
       
    By:   Octavian Management, LLC
    Managing Member
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:    Greg Racz
    Title:    President & Chief Operating Officer
 
       
    OCTAVIAN GLOBAL PARTNERS, LLC
 
       
 
  By:     Octavian Management, LLC
    Managing Member
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer
 
       
    OCTAVIAN MANAGEMENT LLC
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer
 
       
    OCTAVIAN ADVISORS, LP
 
       
    By: Octavian Asset Management, LLC,
    General Partner
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer

 


 

         
    OCTAVIAN ASSET MANAGEMENT LLC
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer
 
       
    /s/ Greg Racz
     
    Greg Racz
 
       
    /s/ Richard Hurowitz
     
    Richard Hurowitz

 

EX-99.1 2 d46882exv99w1.htm JOINT FILING AGREEMENT exv99w1
 

EXHIBIT 1
JOINT FILING AGREEMENT
     In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Shares of Midwest Air Group, Inc., and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.
     The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13D and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.
     This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.
     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of May 17, 2007
         
    OCTAVIAN MASTER FUND, L.P.
 
       
    By:   Octavian Global Partners, LLC
    General Partner
 
       
    By:   Octavian Management, LLC
    Managing Member
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:    Greg Racz
    Title:    President & Chief Operating Officer
 
       
    OCTAVIAN GLOBAL PARTNERS, LLC
 
       
    By:    Octavian Management, LLC
    Managing Member
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer

 


 

         
    OCTAVIAN MANAGEMENT LLC
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:    Greg Racz
    Title:   President & Chief Operating Officer
 
       
    OCTAVIAN ADVISORS, LP
 
       
    By:   Octavian Asset Management, LLC,
    General Partner
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:    President & Chief Operating Officer
 
       
    OCTAVIAN ASSET MANAGEMENT LLC
 
       
 
  By:   /s/ Greg Racz
 
       
    Name:   Greg Racz
    Title:   President & Chief Operating Officer
 
       
    /s/ Greg Racz
     
    Greg Racz
 
       
    /s/ Richard Hurowitz
     
    Richard Hurowitz

 

EX-99.2 3 d46882exv99w2.htm TRANSACTIONS IN THE ISSUER'S SECURITIES exv99w2
 

EXHIBIT 2
                     
        Number of Shares    
Account   Transaction Date   Purchased/(Sold)   Price Per Share
 
Octavian Master
  4/30/07     6,300     $ 13.6641  
 
                   
Octavian Master
  5/4/07     13,700     $ 14.0174  
 
                   
Octavian Special Master
  5/10/07     100,000     $ 14.5560  
 
                   
Octavian Master
  5/11/07     20,000     $ 14.8517  
 
                   
Octavian Special Master
  5/14/07     20,000     $ 14.9373  
 
                   
Octavian Master
  5/16/07     20,000     $ 15.0190  

EX-99.3 4 d46882exv99w3.htm COPY OF PRESS RELEASE exv99w3
 

EXHIBIT 3
(OCTAVIAN LOGO)
Octavian to Midwest: The Time Has Come
New York, May 17, 2007 — Octavian Advisors today issued the following statement in response to the overwhelming number of Midwest Air Group’s shareholders (AMEX: MEH)—a group representing 56.6% of the total shares outstanding—who indicated that the company should merge with AirTran Holdings (NYSE: AAI).
“The acceptance of AirTran’s offer by the majority of shareholders is a clear indication of the desire of Midwest’s owners for the board of directors to immediately engage in productive and good faith negotiations to effectuate a transaction,” Richard Hurowitz, CEO of Octavian, said. “The number of shares already tendered into the exchange offer is remarkable given that Midwest has not yet even turned over its shareholder list to AirTran.
We do not believe going through a proxy contest at the annual meeting—a contest that Midwest appears likely to lose—is the best way to combine these two great airlines. We believe all shareholders would be quite concerned if the board does not at this point listen to its constituency and abide by its fiduciary duty to open a real dialogue with AirTran. This obligation is even further reinforced by the tremendous benefits a combination offers to the company’s employees, customers, and the communities of Milwaukee and Kansas City. The time has come for this transaction.”
Octavian is filing this statement with the Securities and Exchange Commission today as an amendment to its 13-D. Octavian Advisors currently owns approximately 6.6% of the shares outstanding of Midwest Airlines.
About Octavian
Octavian Advisors, LP is a global alternative investment firm. Founded in 2006, Octavian has successfully invested in over thirty countries on six continents. The firm is active in several alternative investment strategies including distressed debt, special situations opportunities, non-traditional assets, and private transactions, and is a provider of merchant capital worldwide. Octavian currently manages assets in excess of $500 million for leading endowments, foundations, pension funds, family offices and funds of funds. Headquartered in New York, Octavian has operations in Dallas and an affiliate office in Auckland, New Zealand.
Media Contact
Steve Bruce/Mary Beth Grover/Monica Everett
The Abernathy MacGregor Group
212-371-5999

 

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