-----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, FVgxb1ERgc2+YJwV8CRHJ0Ux6xzZwGaZSxV9YXVma0DLH39l3lFi0zXBoFfiJdXQ x8sjSUe9ESyGzkZCJxzwhw== 0001399010-10-000023.txt : 20100716 0001399010-10-000023.hdr.sgml : 20100716 20100715173707 ACCESSION NUMBER: 0001399010-10-000023 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100716 DATE AS OF CHANGE: 20100715 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BITSTREAM INC CENTRAL INDEX KEY: 0000818813 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 042744890 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47395 FILM NUMBER: 10954917 BUSINESS ADDRESS: STREET 1: 215 FIRST ST CITY: CAMBRIDGE STATE: MA ZIP: 02142 BUSINESS PHONE: 6174976222 MAIL ADDRESS: STREET 1: 215 FIRST ST CITY: CAMBRIDGE STATE: MA ZIP: 02142 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Columbia Pacific Opportunity Fund, L.P. CENTRAL INDEX KEY: 0001399010 IRS NUMBER: 208451143 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1910 FAIRVIEW AVENUE EAST STREET 2: STE 500 CITY: Seattle STATE: WA ZIP: 98102-3698 BUSINESS PHONE: (206) 453-0291 MAIL ADDRESS: STREET 1: 1910 FAIRVIEW AVENUE EAST STREET 2: STE 500 CITY: Seattle STATE: WA ZIP: 98102-3698 FORMER COMPANY: FORMER CONFORMED NAME: Columbia Pacific Opportunity Fund LP DATE OF NAME CHANGE: 20070509 SC 13D/A 1 bitstream13d20100715.txt BITSTREAM, INC. AMENDMENT NO. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1) Bitstream, Inc. (Name of Issuer) Class A Common Stock, par value $0.01 per share (Title of Class of Securities) 91736108 (CUSIP Number) Alexander B. Washburn c/o Columbia Pacific Advisors, LLC 1910 Fairview Avenue East, Suite 500 Seattle, Washington 98102 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 2, 2010 (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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. 1 1. Names of Reporting Persons Columbia Pacific Opportunity Fund, L.P. (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 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) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person PN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. 1. Names of Reporting Persons Columbia Pacific Advisors, LLC (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person IA (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. 1. Names of Reporting Persons Alexander B. Washburn (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. 1. Names of Reporting Persons Daniel R. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. 1. Names of Reporting Persons Stanley L. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. 1. Names of Reporting Persons Brandon D. Baty (1) 2. Check the Appropriate Box if a Member of a Group (a) 0 (b) 1 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 Sole Voting Power 1,273,186 shares of Common Stock (2) 8. Shared Voting Power 0 shares of Common Stock 9. Sole Dispositive Power 1,273,186 shares of Common Stock (2) 10. Shared Dispositive Power 0 shares of Common Stock 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,273,186 shares of Common Stock 12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 0 13. Percent of Class Represented by Amount in Row 9 12.7% (3) 14. Type of Reporting Person IN (1) The filing of this joint Schedule 13D shall not be construed as an admission that any of the reporting persons are, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by the statement. (2) Columbia Pacific Advisors, LLC has the sole power to vote or direct the vote of, and to dispose or direct the disposition of, the 1,273,186 shares of Common Stock to which this Schedule 13D relates. (3) Based on 10,010,307 shares of common stock outstanding as of May 7, 2010, as reported on the Bitstream Form 10-Q for the period ended March 31, 2010 filed on May 17, 2010. EXPLANATORY NOTE This Amendment No. 1 amends the Schedule 13D filed by Columbia Pacific Opportunity Fund, L.P., a Washington limited partnership (the Fund), Columbia Pacific Advisors LLC, a Washington limited liability company (the Adviser), Alexander B. Washburn, a U.S. citizen, Daniel R. Baty, a U.S. citizen, Stanley L. Baty, a U.S. citizen, and Brandon D. Baty, a U.S. citizen (each a Reporting Person and collectively the Reporting Persons) with the Securities and Exchange Commission on April 20, 2010 with respect to the Class A Common Stock, par value $0.01 per share (the Common Stock) of Bitstream, Inc., a Delaware corporation (the Company). Neither the present Filing nor anything contained herein shall be construed as an admission that the Reporting Persons constitute a group for any purpose and the Reporting Persons expressly disclaim membership in a group. Except as specifically set forth herein, the Schedule 13D remains unmodified. ITEM 5. Interest in Securities of the Issuer The responses set forth in Items 5(a) and 5(c) of the Schedule 13D are hereby replaced in their entirety by the following: (a) As of the date hereof, the Reporting Persons may be deemed to beneficially own an aggregate of 1,273,186 shares of Common Stock, which constitutes 12.7% of the total number shares of Common Stock outstanding as of May 7, 2010, as reported in the Bitstream Form 10-Q for the period ended March 31, 2010. (b) During the past 60 days, Columbia Pacific Opportunity Fund, L.P. has engaged in the following open-market transactions in the Common Stock: Transaction Date Shares Purchased Price per share 05/17/2010 800 $7.6125 05/18/2010 10 $7.50 05/19/2010 3,700 $7.4757 05/20/2010 7,920 $7.2213 05/21/2010 3,100 $7.2387 05/24/2010 5,200 $7.1152 05/25/2010 700 $7.0157 05/27/2010 2,450 $7.0057 05/28/2010 200 $7.10 06/01/2010 1,750 $7.0034 06/02/2010 500 $6.98 06/03/2010 1,050 $7.1743 06/04/2010 1,414 $6.9803 06/07/2010 2,000 $6.9363 06/08/2010 5,113 $6.7959 06/09/2010 1,700 $6.84 06/10/2010 500 $6.846 06/11/2010 298 $6.85 06/15/2010 1,203 $7.0022 06/16/2010 544 $6.9349 06/17/2010 3,200 $6.8728 06/18/2010 2,011 $6.8189 06/21/2010 1,013 $6.9901 06/22/2010 2,100 $6.9752 06/23/2010 1,094 $6.8169 06/24/2010 1,600 $6.8213 06/25/2010 2,000 $6.8115 06/28/2010 1,929 $6.857 06/29/2010 8,300 $6.721 06/30/2010 1,206 $6.7172 07/01/2010 4,147 $6.6021 07/02/2010 4,420 $6.5026 07/06/2010 1,800 $6.6242 07/07/2010 3,000 $6.6807 07/08/2010 500 $6.702 07/09/2010 100 $6.74 07/13/2010 500 $6.908 07/14/2010 200 $6.90 07/15/2010 2,900 $6.8319 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. Dated: July 15, 2010 COLUMBIA PACIFIC OPPORTUNITY FUND, L.P. (1) /s/ Alexander B. Washburn By: Alexander B. Washburn Title: Managing Member of Columbia Pacific Advisors, LLC, its general partner Dated: July 15, 2010 COLUMBIA PACIFIC ADVISORS, LLC (1) /s/ Alexander B. Washburn By: Alexander B. Washburn Title: Managing Member Dated: July 15, 2010 /s/ Alexander B. Washburn Alexander B. Washburn (1) Dated: July 15, 2010 /s/ Daniel R. Baty Daniel R. Baty (1) Dated: July 15, 2010 /s/ Stanley L. Baty Stanley L. Baty (1) Dated: July 15, 2010 /s/ Brandon D. Baty Brandon D. Baty (1) (1) This amendment is being filed jointly by Columbia Pacific Opportunity Fund, L.P., Columbia Pacific Advisors LLC, Alexander B. Washburn, Daniel R. Baty, Stanley L. Baty and Brandon D. Baty pursuant to the Joint Filing Agreement dated April 16, 2010 and included with the initial Schedule 13D filed on April 20, 2010 (the Joint Filing Agreement). The Joint Filing Agreement is incorporated herein by reference. - 2 - SE-13121 v1 -----END PRIVACY-ENHANCED MESSAGE-----