SC 13G 1 file001.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 ------------------------------------------ (Amendment No. )* BAYOU STEEL CORPORATION ------------------------------------------ (Name of Issuer) COMMON STOCK, $.01 PAR VALUE ------------------------------------------ (Title of Class of Securities) 073051 20 3 ------------------------------------------ (CUSIP Number) FEBRUARY 18, 2004 ------------------------------------------ (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 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. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. CHARLES E. DAVIDSON I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization U.S.A. ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 100,000 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 100,000 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 100,000 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 5.0% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IN -----------------------------------------------------------------------------------------------------------------------
Page 2 of 13 Pages CUSIP No. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. JOSEPH M. JACOBS I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization U.S.A. ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 100,000 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 100,000 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 100,000 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 5.0% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IN -----------------------------------------------------------------------------------------------------------------------
Page 3 of 13 Pages CUSIP No. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. WEXFORD CAPITAL LLC I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization CONNECTICUT ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 100,000 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 100,000 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 100,000 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 5.0% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO -----------------------------------------------------------------------------------------------------------------------
Page 4 of 13 Pages CUSIP No. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. ARTIS INVESTORS LLC I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DELAWARE ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 41,667 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 41,667 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 41,667 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 2.1% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO -----------------------------------------------------------------------------------------------------------------------
Page 5 of 13 Pages CUSIP No. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. DEBELLO INVESTORS LLC I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DELAWARE ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 16,667 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 16,667 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 16,667 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 less than 1.0% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO -----------------------------------------------------------------------------------------------------------------------
Page 6 of 13 Pages CUSIP No. 073051 20 3
----------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. WEXFORD SPECTRUM INVESTORS LLC I.R.S. Identification Nos. of Above Persons (entities only) ----------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [ ] (See Instructions) (b) [ ] ----------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only ----------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DELAWARE ----------------------------------------------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 0 Beneficially ----------------------------------------------------------------------------------- Owned by Each 6. Shared Voting Power 41,667 Reporting ----------------------------------------------------------------------------------- Person With 7. Sole Dispositive Power 0 ----------------------------------------------------------------------------------- 8. Shared Dispositive Power 41,667 ----------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 41,667 ----------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] ----------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row 9 2.1% ----------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO -----------------------------------------------------------------------------------------------------------------------
Page 7 of 13 Pages Item 1. (a) Name of Issuer: Bayou Steel Corporation (b) Address of Issuer's Principal Executive Offices: River Road P.O. Box 5000 LaPlace, LA 70069 Item 2. (a) Name of Persons Filing Charles E. Davidson Joseph M. Jacobs Wexford Capital LLC Artis Investors LLC Debello Investors LLC Wexford Spectrum Investors LLC (b) Address of Principal Business Office c/o Wexford Capital LLC 411 West Putnam Avenue Greenwich, CT 06830 (c) Citizenship Charles E. Davidson - United States Joseph M. Jacobs - United States Wexford Capital LLC - Connecticut Artis Investors LLC - Delaware Debello Investors LLC - Delaware Wexford Spectrum Investors LLC - Delaware (d) Title of Class of Securities Common Stock, par value $0.01 per share (e) Cusip Number 073051 20 3 Page 8 of 13 Pages Item 3. If this Statement is filed pursuant to ss. 240.13D-1(B) OR ss. 240.13D-2(B) or (C), check whether the person filing is a: (a) /_/ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) /_/ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) /_/ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) /_/ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) /_/ An investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E); (f) /_/ An employee benefit plan or endowment fund in accordance with ss. 240.13d-1(b)(1)(ii)(F); (g) /_/ A parent holding company or control person in accordance with ss. 240.13d-1(b)(ii)(G); (h) /_/ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) /_/ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) /_/ Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J). If this statement is filed pursuant to ss. 240.13d-1(c), check this box. [X] Item 4. Ownership (a) Amount Beneficially Owned: (See note to Item 4(a)). Charles E. Davidson - 100,000 Joseph M. Jacobs - 100,000 Wexford Capital LLC - 100,000 Artis Investors LLC - 41,667 Debello Investors LLC - 16,667 Wexford Spectrum Investors LLC - 41,667 Note to Item 4(a): The 100,000 shares of Common Stock beneficially owned by each of Mr. Davidson, Mr. Jacobs and Wexford Capital LLC include the shares owned by the limited liability companies set forth above (the "Wexford Entities"), each of which is controlled by Wexford Capital LLC, of which each of Mr. Davidson and Mr. Jacobs is a controlling member. (b) Percent of Class: Page 9 of 13 Pages Charles E. Davidson - 5.0% Joseph M. Jacobs - 5.0% Wexford Capital LLC - 5.0% Artis Investors LLC - 2.1% Debello Investors LLC - less than 1.0% Wexford Specturm Investors LLC - 2.1% (c) Number of shares as to which such person has: i) sole power to vote or to direct the vote Charles E. Davidson - 0 Joseph M. Jacobs - 0 Wexford Capital LLC - 0 Artis Investors LLC - 0 Debello Investors LLC - 0 Wexford Spectrum Investors LLC - 0 ii) shared power to vote or to direct the vote Charles E. Davidson - 100,000 Joseph M. Jacobs - 100,000 Wexford Capital LLC - 100,000 Artis Investors LLC - 41,667 Debello Investors LLC - 16,667 Wexford Spectrum Investors LLC - 41,667 iii) sole power to dispose or to direct the disposition of: Charles E. Davidson - 0 Joseph M. Jacobs - 0 Wexford Capital LLC - 0 Artis Investors LLC - 0 Debello Investors LLC - 0 Wexford Spectrum Investors LLC - 0 iv) shared power to dispose or to direct the disposition of: Charles E. Davidson - 100,000 Joseph M. Jacobs - 100,000 Wexford Capital LLC - 100,000 Artis Investors LLC - 41,667 Debello Investors LLC - 16,667 Wexford Spectrum Investors LLC - 41,667 Page 10 of 13 Pages Item 5. Ownership of Five Percent of Less of a Class Not applicable. 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 The 100,000 shares of Common Stock of Bayou Steel Corporation in respect of which this Schedule 13G is being filed are held directly by the following entities controlled indirectly by Wexford Capital LLC in the amounts set forth hereinabove: Artis Investors LLC, a Delaware limited liability company; Debello Investors LLC, a Delaware limited liability company; Wexford Spectrum Investors LLC, a Delaware limited liability company Item 8. Identification and Classification of Members of the Group Not applicable. Item 9. Notice of Dissolution of Group Not applicable. Item 10. Certification By signing below, each of the undersigned certifies 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 my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. Dated: March 2, 2004 /S/ CHARLES E. DAVIDSON ----------------------- CHARLES E. DAVIDSON /S/ JOSEPH M. JACOBS ----------------------- JOSEPH M. JACOBS Page 11 of 13 Pages WEXFORD CAPITAL LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Principal ARTIS INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President DEBELLO INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President WEXFORD SPECTRUM INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President Page 12 of 13 Pages JOINT FILING AGREEMENT In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agrees to the joint filing with each other of the attached statement on Schedule 13G and to all amendments to such statement and that such statement and all amendments to such statement is made on behalf of each of them IN WITNESS WHEREOF, each of the undersigned hereby executes this agreement on March 2, 2004: /S/ CHARLES E. DAVIDSON ----------------------- CHARLES E. DAVIDSON /S/ JOSEPH M. JACOBS JOSEPH M. JACOBS WEXFORD CAPITAL LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Principal ARTIS INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President DEBELLO INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President WEXFORD SPECTRUM INVESTORS LLC By: /S/ ARTHUR H. AMRON ------------------- Name: Arthur H. Amron Title: Vice President Page 13 of 13 Pages