SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Luxor Capital Group, LP

(Last)

(First)

(Middle)

767 FIFTH AVENUE

19TH FLOOR

(Street)

NEW YORK

10153

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GLOBE SPECIALTY METALS INC [ GSM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/06/2009		S		293,423	D	$7	2,349,651	D⁽¹⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		S		7,437	D	$7	70,617	D⁽²⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		S		421,813	D	$7	2,467,279	D⁽³⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		S		49,864	D	$7	472,844	D⁽⁴⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		S		27,463	D	$7	163,060	I	See⁽⁵⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		X⁽⁸⁾		35,032⁽⁸⁾	A	⁽⁸⁾	2,384,683	D⁽¹⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		X⁽⁸⁾		559,661⁽⁸⁾	A	⁽⁸⁾	3,026,940	D⁽³⁾⁽⁶⁾⁽⁷⁾
Common Stock	08/06/2009		X⁽⁸⁾		26,541⁽⁸⁾	A	⁽⁸⁾	189,601	I	See⁽⁵⁾⁽⁶⁾⁽⁷⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Unit Purchase Option	⁽⁸⁾	08/06/2009	⁽⁸⁾	X⁽⁸⁾			29,062	⁽⁸⁾	⁽⁸⁾	Common Stock & Warrants⁽⁸⁾	⁽⁸⁾	⁽⁸⁾	43,592	D⁽¹⁾⁽⁶⁾⁽⁷⁾⁽⁸⁾
Unit Purchase Option	⁽⁸⁾	08/06/2009	⁽⁸⁾	X⁽⁸⁾			464,288	⁽⁸⁾	⁽⁸⁾	Common Stock & Warrants⁽⁸⁾	⁽⁸⁾	⁽⁸⁾	696,433	D⁽³⁾⁽⁶⁾⁽⁷⁾⁽⁸⁾
Unit Purchase Option	⁽⁸⁾	08/06/2009	⁽⁸⁾	X⁽⁸⁾			22,018	⁽⁸⁾	⁽⁸⁾	Common Stock & Warrants⁽⁸⁾	⁽⁸⁾	⁽⁸⁾	33,027	I	See⁽⁵⁾⁽⁶⁾⁽⁷⁾⁽⁸⁾

1. Name and Address of Reporting Person^*

Luxor Capital Group, LP

(Last)

(First)

(Middle)

767 FIFTH AVENUE

19TH FLOOR

(Street)

NEW YORK

10153

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LUXOR CAPITAL PARTNERS OFFSHORE LTD

(Last)

(First)

(Middle)

C/O M&C CORPORATE SVCS LTD

PO BOX 309 GT UGLAND HOUSE

(Street)

GEORGE TOWN

00000

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Luxor Capital Partners, LP

(Last)

(First)

(Middle)

767 FIFTH AVENUE, 19TH FLOOR

(Street)

NEW YORK

10153

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LUXOR SPECTRUM LLC

(Last)

(First)

(Middle)

767 FIFTH AVENUE

19TH FLOOR

(Street)

NEW YORK

10153

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LUXOR SPECTRUM OFFSHORE LTD

(Last)

(First)

(Middle)

C/O MAPLES CORPORATE SERVICES LTD

P.O. BOX 309 GT

(Street)

GEORGE TOWN

KY1-1104

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Reflects the securities of the issuer owned directly by Luxor Capital Partners, LP (the "Onshore Fund").

2. Reflects the securities of the issuer owned directly by Luxor Spectrum, LLC (the "Spectrum Onshore Fund").

3. Reflects the securities of the issuer owned directly by Luxor Capital Partners Offshore, Ltd. (the "Offshore Fund").

4. Reflects the securities of the issuer owned directly by Luxor Spectrum Offshore, Ltd. (the "Spectrum Offshore Fund").

5. Reflects the securities of the issuer held in accounts managed separately ("Separately Managed Accounts") by Luxor Capital Group, LP ("Luxor Capital Group").

6. Luxor Capital Group acts as the investment manager of the Onshore Fund, the Spectrum Onshore Fund, the Offshore Fund and the Spectrum Offshore Fund (collectively, the "Luxor Funds") and the Separately Managed Accounts. Luxor Management, LLC ("Luxor Management") is the general partner of Luxor Capital Group. Mr. Leone is the managing member of Luxor Management. LCG Holdings, LLC ("LCG Holdings") is the general partner of the Onshore Fund and the managing member of the Spectrum Onshore Fund. Mr. Leone is the managing member of LCG Holdings.

7. Luxor Capital Group, Luxor Management and Mr. Leone may each be deemed to indirectly beneficially own the shares of common stock held by the Luxor Funds and the Separately Managed Accounts. LCG Holdings may be deemed to indirectly beneficially own the shares of common stock held by the Onshore Fund and the Spectrum Onshore Fund. For purposes of this Form 4, Luxor Capital Group, Luxor Management, LCG Holdings and Mr. Leone each disclaims ownership of the shares of common stock owned by the Luxor Funds and the Separately Managed Accounts, except to the extent of their pecuniary interest therein.

8. The Onshore Fund, the Offshore Fund and the Separately Managed Accounts own unit purchase options. Each unit purchase option represents the right to purchase at $7.50, one share of common stock and two warrants to purchase common stock. Each warrant underlying a unit purchase option represents the right to purchase one share of common stock at a price of $5.00. The unit purchase options will expire on October 3, 2010, and the warrants underlying the unit purchase options will expire on October 3, 2009. The unit purchase options may be exercised on a cashless basis, resulting in the holder receiving shares of common stock in lieu of warrants. The Onshore Fund, the Offshore Fund and the Separately Managed Accounts exercised the unit purchase options reported herein on a cashless basis and received shares of common stock in lieu of warrants.

	Norris Nissim, General Counsel of Luxor Management, LLC, General Partner of Luxor Capital Group, LP	08/10/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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