-----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, FvI7n6N8YmtlejTMNQ6tRaECxBkzl803N5ZzmBmrt2dlbDB+SPI1razd5kaSDuHt T4vec8yOyD6HIcMG+XGpsQ== 0000922423-04-001464.txt : 20040907 0000922423-04-001464.hdr.sgml : 20040906 20040907155225 ACCESSION NUMBER: 0000922423-04-001464 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040907 DATE AS OF CHANGE: 20040907 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WET SEAL INC CENTRAL INDEX KEY: 0000863456 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621] IRS NUMBER: 330415940 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-41525 FILM NUMBER: 041018756 BUSINESS ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 BUSINESS PHONE: 7145839029 MAIL ADDRESS: STREET 1: 26972 BURBANK CITY: FOOTHILL RANCH STATE: CA ZIP: 92610 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SCOGGIN CAPITAL MANAGEMENT LP ET AL CENTRAL INDEX KEY: 0000843633 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 790 MADISON AVE STREET 2: STE 708 CITY: NEW YORK STATE: NY ZIP: 10021 BUSINESS PHONE: 212-355-5600 MAIL ADDRESS: STREET 1: 790 MADISON AVENUE STREET 2: SUITE 708 CITY: NEW YORK STATE: NY ZIP: 10021 SC 13G 1 kl09018_sc13g.txt SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------- Under the Securities Exchange Act of 1934 SCHEDULE 13G INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934 The Wet Seal, Inc. ------------------ (Name of Issuer) Class A Common Stock, $0.10 par value ------------------------------------- (Title of Class of Securities) 961840105 --------- (CUSIP Number) August 27, 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) Page 1 of 15 Pages SCHEDULE 13G CUSIP No. 961840105 Page 2 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Scoggin Capital Management, L.P. II - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 1,000,000 OF ---------------------------------------------------- SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 1,000,000 ---------------------------------------------------- 8) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.2% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- CUSIP No. 961840105 Page 3 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Scoggin International Fund, Ltd. - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Commonwealth of the Bahamas - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 1,000,000 OF ------------------------------------------------- SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 0 EACH ------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 1,000,000 ------------------------------------------------- 8) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,000,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.2% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- CUSIP No. 961840105 Page 4 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Scoggin Worldwide Fund, Ltd. - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 300,000 OF ------------------------------------------------ SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 0 EACH ------------------------------------------------ REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 300,000 ------------------------------------------------ 8) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.9% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- CUSIP No. 961840105 Page 5 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Scoggin, LLC - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 1,300,000 OF ------------------------------------------------- SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 300,000 EACH ------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 1,300,000 ------------------------------------------------- 8) SHARED DISPOSITIVE POWER 300,000 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,600,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.1 % - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- CUSIP No. 961840105 Page 6 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Craig Effron - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 0 OF ------------------------------------------------- SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 2,600,000 EACH ------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 0 ------------------------------------------------- 8) SHARED DISPOSITIVE POWER 2,600,000 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,600,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.2% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- CUSIP No. 961840105 Page 7 of 15 Pages - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Curtis Schenker - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 5) SOLE VOTING POWER NUMBER 0 OF ------------------------------------------------- SHARES 6) SHARED VOTING POWER BENEFICIALLY OWNED BY 2,600,000 EACH ------------------------------------------------- REPORTING 7) SOLE DISPOSITIVE POWER PERSON WITH 0 ------------------------------------------------- 8) SHARED DISPOSITIVE POWER 2,600,000 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,600,000 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.2% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- Schedule 13G ------------ Item 1(a). Name of Issuer: The Wet Seal, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 26972 Burbank Foothill Ranch, California 92610 Item 2(a). Name of Persons Filing: (i) Scoggin Capital Management, L.P. II (ii) Scoggin International Fund, Ltd. (iii) Scoggin Worldwide Fund, Ltd. (iv) Scoggin, LLC (v) Craig Effron (vi) Curtis Schenker (collectively, the "Reporting Persons" and each a "Reporting Person") Item 2(b). Address of Principal Business Office or, if None, Residence: Each of the Reporting Persons, other than Scoggin International Fund, Ltd. and Scoggin Worldwide Fund, Ltd., has a business address at 660 Madison Avenue, New York, NY 10021. Scoggin International Fund, Ltd. has a business address at c/o Vincent King, Swiss Financial Services; 107 Shirley Street; P.O. Box EE17758; Nassau, Bahamas. Scoggin Worldwide Fund, Ltd. has a business address at c/o Q&H Corporate Services, Ltd.; 3rd Floor, Harbour Centre; P.O. Box 1348; George Town, Grand Cayman, Cayman Islands. Item 2(c). Citizenship or Place of Organization: (i) Scoggin Capital Management, L.P. II Delaware (ii) Scoggin International Fund, Ltd. Commonwealth of the Bahamas (iii) Scoggin Worldwide Fund, Ltd. Cayman Islands (iv) Scoggin, LLC New York (v) Craig Effron USA (vi) Curtis Schenker USA Item 2(d). Title of Class of Securities: Class A Common Stock, $0.10 par value per share Item 2(e). CUSIP Number: 961840105 Item 3. If this statement is filed pursuant to ss.ss. 240.13d-1(b), or 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) |_| Investment Adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E) (f) |_| Employee benefit plan or endowment fund in accordance with ss. 240.13d-1(b)(1)(ii)(F) (g) |_| Parent Holding Company or control person in accordance with ss.240.13d-1(b)(ii)(G) (h) |_| Savings Association as defined in ss.3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813) (i) |_| Church plan that is excluded from the definition of an investment company under ss.3(c)(15) of the Investment Company Act of 1940 (15 U.S.C. 80a-3) (j) |_| Group, in accordance with ss.240.13d-1(b)(ii)(J) Item 4. Ownership. (i) Scoggin Capital Management, L.P. II(1) (a) Amount beneficially owned: 1,000,000 (b) Percent of class: 3.2%(2) - ------------------------ 1 The general partner of Scoggin Capital Management, L.P. II is S&E Partners, L.P., a limited partnership organized under the laws of Delaware. Scoggin, Inc., a corporation organized under the laws of Delaware, is the sole general partner of S&E Partners, L.P. Craig Effron and Curtis Schenker are the stockholders of Scoggin, Inc. 2 Percentages are based on 31,657,824 outstanding shares of Class A Common Stock, which includes 25,631,324 shares of Class A Common Stock outstanding as of June 7, 2004 (as set forth on the Issuer's Form 10-Q, filed on June 10, 2004 with the Securities and Exchange Commission) and 6,026,500 shares of Class A Common Stock issued by the Issuer in a private placement on June 29, 2004 (as set (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 1,000,000 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,000,000 (iv) Shared power to dispose or to direct the disposition of: 0 (ii) Scoggin International Fund, Ltd.(3) (a) Amount beneficially owned: 1,000,000 (b) Percent of class: 3.2% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 1,000,000 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,000,000 (iv) Shared power to dispose or to direct the disposition of: 0 (iii) Scoggin Worldwide Fund, Ltd.(4) (a) Amount beneficially owned: 300,000 (b) Percent of class: 0.9% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 300,000 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 300,000 (iv) Shared power to dispose or to direct the disposition of: 0 - --------------------- forth in Amendment No. 1 to the Issuer's Registration Statement on Form S-3/A, Reg No. 333-117768, filed on August 24, 2004 with the Securities and Exchange Commission). 3 The investment advisor of Scoggin International Fund, Ltd. is Scoggin, LLC. Craig Effron and Curtis Schenker are the managing members of Scoggin, LLC. 4 The investment advisor of Scoggin Worldwide Fund, Ltd. is Scoggin, LLC. Craig Effron and Curtis Schenker are the managing members of Scoggin, LLC. (iv) Scoggin, LLC(5) (a) Amount beneficially owned: 1,600,000 (b) Percent of class: 5.1 % (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 1,300,000 (ii) Shared power to vote or to direct the vote: 300,000 (iii) Sole power to dispose or to direct the disposition of: 1,300,000 (iv) Shared power to dispose or to direct the disposition of: 300,000 (v) Craig Effron (a) Amount beneficially owned: 2,600,000 (b) Percent of class: 8.2% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 2,600,000 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 2,600,000 (vi) Curtis Schenker (a) Amount beneficially owned: 2,600,000 (b) Percent of class: 8.2% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 2,600,000 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 2,600,000 - ----------------------- 5 Scoggin, LLC is the investment advisor of Scoggin International Fund, Ltd., Scoggin Worldwide Fund, Ltd. and the investment manager for certain discretionary managed accounts. Craig Effron and Curtis Schenker are the managing members of Scoggin, LLC. Item 5. Ownership of Five Percent or Less of a Class. Not applicable Item 6. Ownership of More than Five Percent on Behalf of Another Person. A person other than such Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities with respect to the 300,000 shares held in certain discretionary managed accounts to which Scoggin, LLC is the investment manager. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not applicable 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 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 knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Scoggin Capital Management, L.P. II By: S&E Partners, L.P., its General Partner By: Scoggin, Inc., its General Partner By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker, its Chief Executive Officer Dated as of September 7, 2004 Scoggin International Fund, Ltd. By: Scoggin, LLC, its Investment Advisor By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 Scoggin Worldwide Fund, Ltd. By: Scoggin, LLC, its Investment Advisor By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 Scoggin, LLC By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 By: /s/ Craig Effron ------------------------------------- Craig Effron Dated as of September 7, 2004 By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker Dated as of September 7, 2004 Exhibit A Agreement of Joint Filing Pursuant to 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby confirm the agreement by and among them to join in the filing on behalf of each of them of a Statement on Schedule 13G and any and all amendments thereto, and that this Agreement be included as an Exhibit to such filing. This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement. IN WITNESS WHEREOF, the undersigned have executed this Agreement. Scoggin Capital Management, L.P. II By: S&E Partners, L.P., its General Partner By: Scoggin, Inc., its General Partner By: /s/ Curtis Schenker -------------------------------------- Curtis Schenker, its Chief Executive Officer Dated as of September 7, 2004 Scoggin International Fund, Ltd. By: Scoggin, LLC, its Investment Advisor By: /s/ Curtis Schenker -------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 Scoggin Worldwide Fund, Ltd. By: Scoggin, LLC, its Investment Advisor By: /s/ Curtis Schenker -------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 Scoggin, LLC By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker, its Managing Member Dated as of September 7, 2004 By: /s/ Craig Effron ------------------------------------- Craig Effron Dated as of September 7, 2004 By: /s/ Curtis Schenker ------------------------------------- Curtis Schenker Dated as of September 7, 2004 -----END PRIVACY-ENHANCED MESSAGE-----