0001209191-11-035680.txt : 20110621 0001209191-11-035680.hdr.sgml : 20110621 20110621134347 ACCESSION NUMBER: 0001209191-11-035680 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110617 FILED AS OF DATE: 20110621 DATE AS OF CHANGE: 20110621 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Becker Steven R CENTRAL INDEX KEY: 0001349005 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922985 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Drapkin Matthew A CENTRAL INDEX KEY: 0001458693 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922984 MAIL ADDRESS: STREET 1: 10801 NESBITT AVENUE SOUTH CITY: BLOOMINGTON STATE: MN ZIP: 55437 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: NAVARRE CORP /MN/ CENTRAL INDEX KEY: 0000911650 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045] IRS NUMBER: 411704319 STATE OF INCORPORATION: MN FISCAL YEAR END: 0331 BUSINESS ADDRESS: STREET 1: 7400 49TH AVE N CITY: NEW HOPE STATE: MN ZIP: 55428 BUSINESS PHONE: 7635358333 MAIL ADDRESS: STREET 1: 7400 49TH AVE NORTH CITY: NEW HOPE STATE: MN ZIP: 55428 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Becker Drapkin Management, L.P. CENTRAL INDEX KEY: 0001346543 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922990 BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: (214) 756-6037 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 FORMER NAME: FORMER CONFORMED NAME: SRB Management, L.P. DATE OF NAME CHANGE: 20051209 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BC Advisors LLC CENTRAL INDEX KEY: 0001349003 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922986 BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-756-6073 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BECKER DRAPKIN PARTNERS, L.P. CENTRAL INDEX KEY: 0001451721 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922988 BUSINESS ADDRESS: STREET 1: C/O BECKER DRAPKIN MANAGEMENT, L.P. STREET 2: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: (214) 756-6016 MAIL ADDRESS: STREET 1: C/O BECKER DRAPKIN MANAGEMENT, L.P. STREET 2: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 FORMER NAME: FORMER CONFORMED NAME: SRB GREENWAY OPPORTUNITY FUND LP DATE OF NAME CHANGE: 20081209 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BECKER DRAPKIN PARTNERS (QP), L.P. CENTRAL INDEX KEY: 0001451722 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922989 BUSINESS ADDRESS: STREET 1: C/O BECKER DRAPKIN MANAGEMENT, L.P. STREET 2: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: (214) 756-6016 MAIL ADDRESS: STREET 1: C/O BECKER DRAPKIN MANAGEMENT, L.P. STREET 2: 300 CRESCENT COURT, SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 FORMER NAME: FORMER CONFORMED NAME: SRB GREENWAY OPPORTUNITY FUND (QP) LP DATE OF NAME CHANGE: 20081209 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BD Partners II, L.P. CENTRAL INDEX KEY: 0001498645 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-22982 FILM NUMBER: 11922987 BUSINESS ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: (214) 756-6016 MAIL ADDRESS: STREET 1: 300 CRESCENT COURT STREET 2: SUITE 1111 CITY: DALLAS STATE: TX ZIP: 75201 4 1 c18990_4x2.xml MAIN DOCUMENT DESCRIPTION X0303 4 2011-06-17 0000911650 NAVARRE CORP /MN/ NAVR 0001346543 Becker Drapkin Management, L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001451722 BECKER DRAPKIN PARTNERS (QP), L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001451721 BECKER DRAPKIN PARTNERS, L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001498645 BD Partners II, L.P. 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001349003 BC Advisors LLC 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001349005 Becker Steven R 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group 0001458693 Drapkin Matthew A 300 CRESCENT COURT SUITE 1111 DALLAS TX 75201 0 0 0 1 Member of a 13(d) 10% Group Common Stock 2011-06-17 4 P 0 53000 1.77 A 915389 I See Footnotes Common Stock 2011-06-17 4 P 0 138926 1.79 A 1054315 I See Footnotes Common Stock 2011-06-17 4 P 0 53000 1.77 A 159579 I See Footnotes Common Stock 2011-06-17 4 P 0 20374 1.79 A 179953 I See Footnotes Common Stock 2011-06-17 4 P 0 44000 1.77 A 654383 I See Footnotes Common Stock 2042350 I See Footnotes This statement is jointly filed by and on behalf of each of Becker Drapkin Management, L.P. ("BD Management"), Becker Drapkin Partners (QP), L.P. ("QP Fund"), Becker Drapkin Partners, L.P. ("LP Fund"), BD Partners II, L.P. ("BD Partners II"), BC Advisors, LLC ("BC Advisors"), Steven R. Becker and Matthew A. Drapkin. QP Fund, LP Fund, BD Partners II and a managed account (the "Managed Account") are the direct beneficial owners of the securities covered by this statement. (continued from Footnote 1) BD Management is the general partner of each of QP Fund, LP Fund and BD Partners II and provides investment advisory services for the Managed Account. BD Management may be deemed to beneficially own securities owned by QP Fund, LP Fund, BD Partners II and the Managed Account. BC Advisors is the general partner of BD Management and may be deemed to beneficially own securities owned by BD Management. Mr. Becker and Mr. Drapkin are the co-managing members of BC Advisors and may be deemed to beneficially own securities owned by BC Advisors. Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Act") or otherwise, the beneficial owner of any securities covered by this statement. Each reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities. Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, a member of a group with respect to the issuer or securities of the issuer. Represents shares directly beneficially owned by QP Fund. Represents shares directly beneficially owned by LP Fund. Represents shares directly beneficially owned by BD Partners II. Represents shares beneficially owned by BD Management, as investment manager for the Managed Account, and in which BD Management may have a pecuniary interest as a result of performance related fees. Exhibit Index Exhibit 24.1 - Joint Filing Agreement and Power of Attorney (furnished herewith) Exhibit 99.1 - Joint Filer Information (furnished herewith) BECKER DRAPKIN MANAGEMENT, L.P., By: BC Advisors, LLC, Its: General Partner, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 BECKER DRAPKIN PARTNERS (QP), L.P., By: Becker Drapkin Management, L.P., Its: General Partner, By: BC Advisors, LLC, Its: General Partner, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 BECKER DRAPKIN PARTNERS, L.P., By: Becker Drapkin Management, L.P., Its: General Partner, By: BC Advisors, LLC, Its: General Partner, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 BD PARTNERS II, L.P., By: Becker Drapkin Management, L.P., Its: General Partner, By: BC Advisors, LLC, Its: General Partner, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 BC ADVISORS, LLC, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 Steven R. Becker, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 Matthew A. Drapkin, By: /s/ Ashley Sekimoto, Title: Attorney-in-Fact 2011-06-20 EX-99.1 2 c18990_99x1.htm ADDITIONAL EXHIBITS Exhibit 99.1
EXHIBIT 99.1
JOINT FILER INFORMATION
Other Reporting Person(s)
1. BECKER DRAPKIN PARTNERS (QP), L.P.
     
Item   Information
Name:
  BECKER DRAPKIN PARTNERS (QP), L.P.
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
         
Signature:
  By:   Becker Drapkin Management, L.P.
 
  Its:   General Partner
 
        
 
  By:   BC Advisors, LLC
 
  Its:   General Partner
 
        
 
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

2. BECKER DRAPKIN PARTNERS, L.P.
     
Item   Information
Name:
  BECKER DRAPKIN PARTNERS, L.P.
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
         
Signature:
  By:   Becker Drapkin Management, L.P.
 
  Its:   General Partner
 
        
 
  By:   BC Advisors, LLC
 
  Its:   General Partner
 
        
 
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

3. BD PARTNERS II, L.P.
     
Item   Information
Name:
  BD PARTNERS II, L.P.
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
         
Signature:
  By:   Becker Drapkin Management, L.P.
 
  Its:   General Partner
 
        
 
  By:   BC Advisors, LLC
 
  Its:   General Partner
 
        
 
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

4. BC ADVISORS, LLC
     
Item   Information
Name:
  BC ADVISORS, LLC
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
         
Signature:
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

5. STEVEN R. BECKER
     
Item   Information
Name:
  STEVEN R. BECKER
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
 
    
         
Signature:
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

6. MATTHEW A. DRAPKIN
     
Item   Information
Name:
  MATTHEW A. DRAPKIN
 
    
Address:
  300 Crescent Court, Suite 1111, Dallas, Texas 75201
 
    
Designated Filer:
  Becker Drapkin Management, L.P.
 
    
Date of Event Requiring Statement (Month/Day/Year):
  June 17, 2011
 
    
Issuer Name and Ticker or Trading Symbol:
  Navarre Corporation [NAVR]
 
    
Relationship of Reporting Person(s) to Issuer:
  Member of a 13(d) 10% Group
 
    
If Amendment, Date Original
Filed (Month/Day/Year):
  Not Applicable
 
    
Individual or Joint/Group Filing:
  Form filed by More than One Reporting Person
         
Signature:
  By:   /s/ Ashley Sekimoto
 
       
 
  Name:   Ashley Sekimoto
 
  Title:   Attorney-in-Fact
 
  Date:   June 20, 2011

 

 

EX-24 3 c18990_24.htm POWER OF ATTORNEY Power of Attorney
EXHIBIT 24.1
JOINT FILING AGREEMENT AND POWER OF ATTORNEY
Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder, each party hereto hereby agrees to the joint filing, on behalf of each of them, of any filing required by such party under Section 13 or Section 16 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with the Securities and Exchange Commission (and, if such security is registered on a national securities exchange, also with the exchange), and further agrees to the filing, furnishing, and/or incorporation by reference of this agreement as an exhibit thereto. This agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party.
Know all men by these presents, that each of Becker Drapkin Management, L.P., Becker Drapkin Partners (QP), L.P., Becker Drapkin Partners, L.P., BD Partners II, L.P., BC Advisors, LLC, Steven R. Becker and Matthew A. Drapkin hereby constitute and appoint Ashley Sekimoto, as the true and lawful attorney-in-fact and agent of such party with full power and authority and full power of substitution and resubstitution, for, in the name of, and on behalf of such party, place and stead, in any and all capacities, (i) to execute any and all filings required by such party under Section 13 or Section 16 of the Exchange Act (or any similar rule with respect to foreign exchanges) or any rule or regulation thereunder (including any amendment, supplement and/or exhibit thereto), for, in the name of, and on behalf of such party, (ii) to do and perform any and all acts for, in the name of, and on behalf of such party which said attorney-in-fact determines may be necessary or appropriate to complete and execute any and all such filings, amendments, supplements and/or exhibits and any and all other document(s) in connection therewith, (iii) to file such filings, amendments, supplements, exhibits and/or documents with any governmental office or agency, whether U.S., foreign, state or local government (including, without limitation, the U.S. Securities and Exchange Commission and state securities administrators or commissions), or any stock exchange or stock quotation system, as may be required under applicable laws or rules and regulations of any stock exchange or stock quotation system, and (iv) to perform any and all other acts that said attorney-in-fact or agent determines may be necessary or appropriate in connection with the foregoing that may be in the best interest of or legally required by such party, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as such party might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent shall do or cause to be done by virtue hereof. Each of Becker Drapkin Management, L.P., Becker Drapkin Partners (QP), L.P., Becker Drapkin Partners, L.P., BD Partners II, L.P., BC Advisors, LLC, Steven R. Becker and Matthew A. Drapkin hereby acknowledge that the foregoing attorney-in-fact and agent in serving in such capacity at the request of such party, is not assuming any of the responsibilities of such party to comply with Section 16 or Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
Remainder of Page Intentionally Left Blank. Signature Page(s) to Follow.
 
IN WITNESS WHEREOF, each party hereto, being duly authorized, has caused this agreement to be executed and effective as of the date first written above.
   
Date: June 20, 2011
             
    BECKER DRAPKIN MANAGEMENT, L.P.    
 
            
 
  By:   BC Advisors, LLC    
 
  Its:   General Partner    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
  Title:   Co-Managing Member    
 
            
    BECKER DRAPKIN PARTNERS (QP), L.P.    
 
            
 
  By:   Becker Drapkin Management, L.P.    
 
  Its:   General Partner    
 
            
 
  By:   BC Advisors, LLC    
 
  Its:   General Partner    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
  Title:   Co-Managing Member    
 
            
    BECKER DRAPKIN PARTNERS, L.P.    
 
            
 
  By:   Becker Drapkin Management, L.P.    
 
  Its:   General Partner    
 
            
 
  By:   BC Advisors, LLC    
 
  Its:   General Partner    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
  Title:   Co-Managing Member    
 
            
 
            
    BD PARTNERS II, L.P.    
 
            
 
  By:   Becker Drapkin Management, L.P.    
 
  Its:   General Partner    
 
            
 
  By:   BC Advisors, LLC    
 
  Its:   General Partner    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
  Title:   Co-Managing Member    
 
            
    BC ADVISORS, LLC    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
  Title:   Co-Managing Member    
 
            
    STEVEN R. BECKER    
 
            
 
  By:   /s/ Steven R. Becker    
 
           
 
  Name:   Steven R. Becker    
 
            
    MATTHEW A. DRAPKIN    
 
            
 
  By:   /s/ Matthew A. Drapkin    
 
           
 
  Name:   Matthew A. Drapkin