SC 13D/A 1 d55483asc13dza.htm AMENDMENT TO SCHEDULE 13D sc13dza
 

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 5 )*

TLC Vision Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
872549100
(CUSIP Number)
Michael Colvin
Highland Capital Management, L.P.
Two Galleria Tower
13455 Noel Road, Suite 800
Dallas, Texas 75240
(972) 628-4100
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 28, 2008
(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. þ

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 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.
  
872549100 
   Page  
2 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

Highland Capital Management, L.P.
75-2716725
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
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   8,958,336
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   250,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   8,958,336
       
WITH 10   SHARED DISPOSITIVE POWER
     
    250,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  9,208,336
     
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)
   
  18.3%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN, IA

 

                     
CUSIP No.
  
872549100 
   Page  
3 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

Strand Advisors, Inc.
95-4440863
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
 
     
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   8,958,336
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   250,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   8,958,336
       
WITH 10   SHARED DISPOSITIVE POWER
     
    250,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  9,208,336
     
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)
   
  18.3%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CP, HC

 

                     
CUSIP No.
  
872549100 
   Page  
4 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

James Dondero
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
 
     
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   8,958,336
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   250,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   8,958,336
       
WITH 10   SHARED DISPOSITIVE POWER
     
    250,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  9,208,336
     
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)
   
  18.3%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN, HC

 

                     
CUSIP No.
  
872549100 
   Page  
5 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

Highland Distressed Opportunities Fund, Inc.(1)
20-5423854
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
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   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    0
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  0
     
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)
   
  0%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO
(1)   The Reporting Persons may be deemed to be the beneficial owners of the shares of the Issuer’s Common Stock beneficially owned by the other Reporting Persons. However, with respect to the matters described herein, no other Reporting Person may bind, obligate or take any action, directly or indirectly, on behalf of Highland Distressed Opportunities Fund, Inc. The Reporting Person expressly disclaims membership in a group with respect to the issuer or securities of the issuer for the purpose of Section 13(d) or 13(g) of the Act.

 

                     
CUSIP No.
  
872549100 
   Page  
6 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

Highland Multi-Strategy Onshore Master SubFund, L.L.C.
20-5237152
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
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   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   250,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    250,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  250,000
     
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)
   
  0.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

 

                     
CUSIP No.
  
872549100 
   Page  
7 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS

Highland Multi-Strategy Master Fund, L.P.
20-5237085
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
 
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Bermuda
       
  7   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   250,000
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH 10   SHARED DISPOSITIVE POWER
     
    250,000
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  250,000
     
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)
   
  0.5%
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN/HC

 

                     
CUSIP No.
  
872549100 
   Page  
8 
   of   
10 
This Amendment No. 5 to Schedule 13D is jointly filed by and on behalf of each reporting person to amend and/or supplement the Schedule 13D relating to shares of Common Stock of the Issuer filed by such reporting person with the Securities and Exchange Commission on September 14, 2007, and amended on October 9, 2007, November 20, 2007, December 10, 2007, and January 18, 2008 (as amended, the “Schedule 13D”). Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Schedule 13D. Except as otherwise provided herein, all Items of the Schedule 13D remain unchanged.
Item 3. Source and Amount of Funds or Other Consideration.
     Item 3 is amended and restated in its entirety as follows:
     The Reporting Persons have acquired an aggregate of 9,202,086 shares of Common Stock (the “Shares”), which are reported herein, in open market transactions for an aggregate purchase price of approximately $39,774,247 with a combination of funds from accounts managed by Highland Capital.
Item 5. Interest in Securities of the Issuer.
     Sections (a), (b), (d) and (e) of Item 5 remain unchanged.
     Section (c) of Item 5 is amended and restated in its entirety as follows:
     (c) The following table describes transactions in the Common Stock that were effected during the past sixty days or since the most recent filing of Schedule 13D, whichever is less, by the persons named in response to paragraph (a) of this Item 5:
                             
Transaction       Number of   Number of   Price Per   Description of
Date   Reporting Person   Shares Acquired   Shares Disposed   Share ($)   Transaction
3/7/2008
  Distressed Opportunities         50,000       1.8222     Open Market
3/10/2008
  Distressed Opportunities         14,200       1.7542     Open Market
3/11/2008
  Distressed Opportunities         27,100       1.7164     Open Market
3/12/2008
  Distressed Opportunities         34,500       1.2649     Open Market
3/13/2008
  Distressed Opportunities         15,000       1.2648     Open Market
3/14/2008
  Distressed Opportunities         50,000       1.1783     Open Market
3/17/2008
  Distressed Opportunities         50,000       1.1588     Open Market
3/18/2008
  Distressed Opportunities         38,200       1.1407     Open Market
3/19/2008
  Distressed Opportunities         1,000       1.13     Open Market
3/20/2008
  Distressed Opportunities         50,000       1.1151     Open Market
3/25/2008
  Distressed Opportunities         50,000       0.9907     Open Market
3/26/2008
  Distressed Opportunities         32,600       1.0735     Open Market
3/27/2008
  Distressed Opportunities         25,000       1.1     Open Market
3/28/2008
  Distressed Opportunities         50,000       1.1982     Open Market
3/31/2008
  Distressed Opportunities         149,300       1.139     Open Market

 

 

                     
CUSIP No.
  
872549100 
   Page  
9 
   of   
10 
SIGNATURES
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: April 1, 2008
Highland Multi-Strategy Onshore Master SubFund, L.L.C.
By: Highland Multi-Strategy Master Fund, L.P., its managing member
By: Highland Multi-Strategy Fund GP, L.P., its general partner
By: Highland Multi-Strategy Fund GP, L.L.C., its general partner
By: Highland Capital Management, L.P., its sole member
By: Strand Advisors, Inc., its general partner
         
     
  By:   /s/ James D. Dondero    
    James D. Dondero, President   
       
 
Highland Multi-Strategy Master Fund, L.P.
By: Highland Multi-Strategy Fund GP, L.P., its general partner
By: Highland Multi-Strategy Fund GP, L.L.C., its general partner
By: Highland Capital Management, L.P., its sole member
By: Strand Advisors, Inc., its general partner
         
     
  By:   /s/ James D. Dondero    
    James D. Dondero, President   
       
 
Highland Distressed Opportunities Fund, Inc.
         
     
  By:   /s/ James D. Dondero    
    James D. Dondero, President   
       
 
Highland Capital Management, L.P.
By: Strand Advisors, Inc., its general partner
         
     
  By:   /s/ James D. Dondero    
    James D. Dondero, President   
       
 
         
  Strand Advisors, Inc.
 		  
  By:   /s/ James D. Dondero    
    James D. Dondero, President   
       
 
         
  James D. Dondero
 		  
  /s/ James D. Dondero