0000902664-05-000914.txt : 20120625
0000902664-05-000914.hdr.sgml : 20120625
20050411171047
ACCESSION NUMBER: 0000902664-05-000914
CONFORMED SUBMISSION TYPE: SC 13G
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050411
DATE AS OF CHANGE: 20050411
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: DESIGN WITHIN REACH INC
CENTRAL INDEX KEY: 0001116755
STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-FURNITURE & HOME FURNISHINGS [5020]
IRS NUMBER: 943314374
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-79980
FILM NUMBER: 05744577
BUSINESS ADDRESS:
STREET 1: 283 4TH STREET
CITY: OAKLAND
STATE: CA
ZIP: 94607
MAIL ADDRESS:
STREET 1: 225 BUSH STREET
STREET 2: 20TH FLOOR
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94104
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: GRANITE CAPITAL L P
CENTRAL INDEX KEY: 0000863633
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
BUSINESS ADDRESS:
STREET 1: 126 WEST 56TH STREET
STREET 2: 25TH FL
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 2124073400
MAIL ADDRESS:
STREET 1: 126 WEST 56TH STREET 25TH FLOOR
CITY: NEWYORK
STATE: NY
ZIP: 10022
SC 13G
1
p05-0430designwithinreach.txt
DESIGN WITHIN REACH, INC.
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G*
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b) (Amendment No. )*
Design Within Reach, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
250557105
(CUSIP Number)
April 4, 2005
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 20 Pages)
----------------
*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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes 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. 250557105 13G Page 2 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Granite Capital, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
327,700
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
327,700
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
327,700
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.4%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 3 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Granite Capital II, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
22,500
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
22,500
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
22,500
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.2%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 4 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Granite Capital Opportunity Fund L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
62,039
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
62,039
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
62,039
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.5%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 5 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
GRANITE CAPITAL OPPORTUNITY FUND II, L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
95,791
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
95,791
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
95,791
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.7%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 6 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
GRANUM VALUE FUND
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
122,323
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
122,323
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
122,323
-----------------------------------------------------------------------------
(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 **
IV
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 7 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
GRANITE CAPITAL, L.L.C.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
514,030
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
514,030
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
514,030
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.8%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IA,OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 8 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
GRANUM CAPITAL MANAGEMENT, L.L.C.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
122,323
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
122,323
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
122,323
-----------------------------------------------------------------------------
(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 **
IA,OO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 9 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
GRANITE CAPITAL MANAGEMENT L.P.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
122,844
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
122,844
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
122,844
-----------------------------------------------------------------------------
(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 **
PN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 10 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Laurence Zuriff
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
280,674
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
280,674
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
280,674
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.1%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 11 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lewis M. Eisenberg
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
759,197
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
759,197
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
759,197
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.6%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 12 of 20 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Walter F. Harrison, III
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
759,197
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
759,197
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
759,197
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.6%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 250557105 13G Page 13 of 20 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Design Within Reach, Inc. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive offices are located at 225 Bush Street,
20th Floor, San Francisco, California 94104
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Granite Capital, L.P., a Delaware limited partnership ("Granite"),
with respect to the shares of Common Stock (defined in Item 2(d)
below) directly owned by it;
(ii) Granite Capital II, L.P., a Delaware limited partnership ("Granite
II"), with respect to the shares of Common Stock directly owned by
it;
(iii) Granite Capital Opportunity Fund, L.P., a Delaware limited
Partnership ("Granite Opportunity") with respect to the shares of
Common Stock directly owned by it;
(iv) Granite Capital Opportunity Fund II, L.P., a Delaware limited
partnership ("Granite Opportunity II"), with respect to the shares
of Common Stock directly owned by it;
(v) Granum Value Fund, a publicly registered mutual fund organized as
a trust under the laws of the state of Delaware ("Granum Value"),
with respect to the shares of Common Stock directly owned by it;
(vi) Granite Capital, L.L.C., a Delaware limited liability company
("Granite L.L.C."), which serves as the general partner of
Granite, Granite II, Granite Opportunity, and Granite Opportunity
II and as investment manager to Granite Capital Overseas Hedged
Equity Fund Limited, a Cayman Islands exempted company ("Granite
Hedged Equity"), with respect to the shares of Common Stock
directly owned by each of Granite, Granite II, Granite
Opportunity, Granite Opportunity II and Granite Hedged Equity;
CUSIP No. 250557105 13G Page 14 of 20 Pages
(vii) Granum Capital Management, L.L.C., a Delaware limited liability
company ("Granum Management") which serves as investment adviser
to Granum Value, with respect to the shares of Common Stock
directly owned by Granum Value;
(viii)Granite Capital Management L.P., a Delaware limited partnership
("Granite Capital Management") which serves as investment manager
to Granite Capital Opportunity MAC 60 Ltd ("Granite MAC"), and
Granite Capital Opportunity Fund Limited, a Cayman Islands exempted
company ("Granite Opportunity Offshore"), with respect to shares of
Common Stock directly owned by each of Granite MAC and Granite
Opportunity Offshore;
(ix) Laurence Zuriff, a United States citizen ("Mr. Zuriff"), who serves
as portfolio manager of each of Granite Opportunity, Granite
Opportunity II, Granite Opportunity Offshore and Granite MAC with
respect to the shares of Common Stock directly owned by each of
Granite Opportunity, Granite Opportunity II, Granite MAC and
Granite Opportunity Offshore;
(x) Lewis M. Eisenberg, a United States citizen ("Mr. Eisenberg"), who
serves as a managing member of Granite L.L.C., as a managing member
of Granum Management and controls Granite Capital Management with
respect to the shares of Common Stock directly owned by each of
Granite, Granite II, Granite Opportunity, Granite Opportunity II,
Granite Opportunity Offshore, Granite Hedged Equity, Granum Value
and Granite MAC; and
(xi) Walter F. Harrison, III, a United States citizen ("Mr. Harrison"),
who serves as a managing member of Granite L.L.C., as a managing
member of Granum Management and controls Granite Capital Management
with respect to the shares of Common Stock directly owned by each
of Granite, Granite II, Granite Opportunity, Granite Opportunity
II, Granite Opportunity Offshore, Granite Hedged Equity, Granum
Value and Granite MAC.
The foregoing persons are hereinafter collectively referred to as the
"Reporting Persons." Any disclosures herein with respect to persons other than
the Reporting Persons are made on information and belief after making inquiry to
the appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the business office of each of the Reporting Persons is 126
East 56th Street, 25th Floor, New York, New York 10022.
Item 2(c). Citizenship:
Messrs. Eisenberg, Harrison and Zuriff are citizens of the United States.
Each of the other Reporting Persons is organized under the laws of the state of
Delaware.
CUSIP No. 250557105 13G Page 15 of 20 Pages
Item 2(d). Title of Class of Securities:
Common Stock, $0.001 par value (the "Common Stock").
Item 2(e). CUSIP Number: 250557105
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule 13d-1
(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Not applicable.
Item 4. Ownership.
The percentages used in this Item 4 are calculated based upon 13,581,128
shares of Common Stock issued and outstanding as of March 9, 2005 as reported in
the Company's Form S-1/A on March 9, 2005.
A. Granite Capital, L.P.
(a) Amount beneficially owned: 327,700
(b) Percent of class: 2.4%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 327,700
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 327,700
CUSIP No. 250557105 13G Page 16 of 20 Pages
B. Granite Capital II, L.P.
(a) Amount beneficially owned: 22,500
(b) Percent of class: 0.2%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 22,500
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 22,500
C. Granite Capital Opportunity Fund, L.P.
(a) Amount beneficially owned: 62,039
(b) Percent of class: 0.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 62,039
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 62,039
D. Granite Capital Opportunity Fund II, L.P.
(a) Amount beneficially owned: 95,791
(b) Percent of class: 0.7%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 95,791
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 95,791
E. Granum Value Fund
(a) Amount beneficially owned: 122,323
(b) Percent of class: 0.9%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 122,323
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 122,323
F. Granite Capital, L.L.C.
(a) Amount beneficially owned: 514,030
(b) Percent of class: 3.8%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 514,030
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 514,030
G. Granum Capital Management, L.L.C.
(a) Amount beneficially owned: 122,323
(b) Percent of class: 0.9%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 122,323
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 122,323
H. Granite Capital Management L.P.
(a) Amount beneficially owned: 122,844
(b) Percent of class: 0.9%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 122,844
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 122,844
CUSIP No. 250557105 13G Page 17 of 20 Pages
I. Laurence Zuriff
(a) Amount beneficially owned: 280,674
(b) Percent of class: 2.1%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 280,674
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 280,674
J. Lewis M. Eisenberg
(a) Amount beneficially owned: 759,197
(b) Percent of class: 5.6%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 759,197
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 759,197
K. Walter F. Harrison, III
(a) Amount beneficially owned: 759,197
(b) Percent of class: 5.6%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 759,197
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 759,197
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.
Granite L.L.C., the general partner of Granite, Granite II, Granite
Opportunity and Granite Opportunity II, and the investment manager to Granite
Hedged Equity, has the power to direct the investment activities of Granite,
Granite II, Granite Opportunity, Granite Opportunity II and Granite Hedged
Equity, including decisions with respect to the receipt of dividends and the
disposition of the proceeds from the sale of shares of Common Stock. Messrs.
Eisenberg and Harrison are the managing members of Granite L.L.C., and in that
capacity direct its operations.
Mr. Zuriff, portfolio manager of Granite Opportunity, Granite Opportunity
II, Granite Opportunity Offshore and Granite MAC, has the power to direct the
investment activities of Granite Opportunity, Granite Opportunity II, Granite
Opportunity Offshore and Granite MAC, including decisions with respect to the
receipt of dividends and the disposition of the proceeds from the sale of shares
of Common Stock.
Granum Management, the investment adviser to Granum Value, has the power to
direct the affairs of Granum Value, including decisions with respect to the
receipt of dividends and the disposition of the proceeds from the sale of shares
of Common Stock. Messrs. Eisenberg and Harrison are the managing members of
Granum Management, and in that capacity direct its operations.
CUSIP No. 250557105 13G Page 18 of 20 Pages
Granite Capital Management, the investment adviser to Granite Opportunity
Offshore and Granite MAC, has the power to direct the investment activities of
each of Granite Opportunity Offshore and Granite MAC, including decisions with
respect to the receipt of dividends and the disposition of the proceeds from the
sale of shares of Common Stock. Messrs. Eisenberg and Harrison control Granite
Capital Management, and in that capacity direct its operations.
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.
Please see Item 2.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
SIGNATURES
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify 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.
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: April 11, 2005
GRANITE CAPITAL, L.P.
By: Granite Capital, L.L.C.,
General Partner
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANITE CAPITAL II, L.P.
By: Granite Capital, L.L.C.,
General Partner
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
CUSIP No. 250557105 13G Page 19 of 20 Pages
GRANITE CAPITAL OPPORTUNITY FUND, L.P.
By: Granite Capital, L.L.C.,
General Partner
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANITE CAPITAL OPPORTUNITY FUND II, L.P.
By: Granite Capital, L.L.C.,
General Partner
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANUM VALUE FUND
By: Granum Capital Management, L.L.C.,
Investment Adviser
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANITE CAPITAL, L.L.C.
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANUM CAPITAL MANAGEMENT, L.L.C.
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
GRANITE CAPITAL MANAGEMENT L.P.
BY: Granite Capital International Group,
L.L.C.,
General Partner
By: /s/ Lewis M. Eisenberg
------------------------
Lewis M. Eisenberg
Member
LAURENCE ZURIFF
/s/ Laurence Zuriff
CUSIP No. 250557105 13G Page 20 of 20 Pages
LEWIS M. EISENBERG
/s/ Lewis M. Eisenberg
-----------------------------
WALTER F. HARRISON, III
/s/ Walter F. Harrison, III
-----------------------------