SC 13D/A 1 dsc13da.htm AMENDMENT NO. 2 TO SCHEDULE 13D Amendment No. 2 to Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)*

 

 

 

Calpine Corporation

(Name of Issuer)

 

 

Common Shares, par value $0.001 per share

(Title of Class of Securities)

 

 

131347304

(CUSIP Number)

 

 

James J. Moloney

Gibson, Dunn & Crutcher LLP

3161 Michelson Drive

Irvine, CA 92612

(949) 451-4343

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

 

September 24, 2008

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

*   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 disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose 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.  131347304    13D/A    Page 2 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LUMINUS MANAGEMENT, LLC

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

    

 

CUSIP No.  131347304    13D/A    Page 3 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

FARRINGTON MANAGEMENT, LLC

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

    

 

CUSIP No.  131347304    13D/A    Page 4 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LSP CAL HOLDINGS I, LLC

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

    

 

CUSIP No.  131347304    13D/A    Page 5 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LSP CAL HOLDINGS II, LLC

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

    

 

CUSIP No.  131347304    13D/A    Page 6 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LS POWER PARTNERS, L.P.

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

    

 

CUSIP No.  131347304    13D/A    Page 7 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LS POWER PARTNERS II, L.P.

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

    

 

CUSIP No.  131347304    13D/A    Page 8 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LUMINUS ASSET PARTNERS, L.P.

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

    

 

CUSIP No.  131347304    13D/A    Page 9 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

LUMINUS ENERGY PARTNERS MASTER FUND, LTD.

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

OO

    

 

CUSIP No.  131347304    13D/A    Page 10 of 14 Pages

 

  1  

NAME OF REPORTING PERSONS.

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).

 

FARRINGTON CAPITAL, LP

    
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨

(b)  þ

    
  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

 

DELAWARE

    

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

  

  7     SOLE VOTING POWER

 

        0

 

  8     SHARED VOTING POWER

 

        65,652,566

 

  9     SOLE DISPOSITIVE POWER

 

        0

 

10     SHARED DISPOSITIVE POWER

 

        65,652,566

11  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

65,652,566

    
12  

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

¨

    
13  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

15.52%

    
14  

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

PN

    

 

CUSIP No.  131347304    13D/A    Page 11 of 14 Pages

This Amendment No. 2 (this “Amendment”) amends and supplements the Schedule 13D filed on February 11, 2008 (the “Original Filing”) by the Reporting Persons relating to the Common Stock, par value $0.001 per share (the “Shares”) of Calpine Corporation, a Delaware corporation (the “Issuer”). Information reported in the Original Filing remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment or Amendment No. 1. Capitalized terms used but not defined in this Amendment have the respective meanings set forth in the Original Filing.

 

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 of the Original Filing is hereby amended by adding the following at the end thereof:

As of September 24, 2008 the Reporting Persons may be deemed to beneficially own an aggregate of 65,652,566 Shares, as detailed in Item 5. The aggregate purchase price for such shares was $1,115,391,662.38 (exclusive of brokerage commissions and fees), which amount has come from working capital and/or from borrowings pursuant to margin accounts maintained in the ordinary course of business.

 

Item 4. Purpose of Transaction.

Item 4 of the Original Filing is hereby amended by adding the following at the end thereof:

On September 24, 2008, certain of the Reporting Persons filed an application under Section 203 of the Federal Power Act with the Federal Energy Regulatory Commission seeking approval to acquire up to 40% of the issued and outstanding Shares.

 

Item 5. Interest in Securities of the Issuer.

Items 5(a), (b) and (c) of the Original Filing are hereby amended by adding the following at the end thereof:

(a) As of September 24, 2008, LSP Cal II is the record owner of 14,669,132 Shares, representing approximately 3.47% of the outstanding Shares. Luminus Energy Fund is the record owner of 7,610,011 Shares, representing approximately 1.8% of the outstanding Shares.

 

(b)

 

Reporting Persons

    Number of Shares
With Sole
Voting and
Dispositive Power		    Number of
Shares With
Shared Voting and
Dispositive Power		    Aggregate
Number of
Shares
Beneficially
Owned		    Percentage of
Class
Beneficially
Owned		  

Farrington Capital, LP

    0    65,652,566    65,652,566    15.52 %

LSP Cal Holdings I, LLC

    0    65,652,566    65,652,566    15.52 %

LSP Cal Holdings II, LLC

    0    65,652,566    65,652,566    15.52 %

Luminus Management, LLC

    0    65,652,566    65,652,566    15.52 %

Luminus Asset Partners, L.P.

    0    65,652,566    65,652,566    15.52 %

Luminus Energy Partners Master Fund, Ltd.

    0    65,652,566    65,652,566    15.52 %

LS Power Partners, L.P.

    0    65,652,566    65,652,566    15.52 %

LS Power Partners II, L.P.

    0    65,652,566    65,652,566    15.52 %

CUSIP No.  131347304    13D/A    Page 12 of 14 Pages

 

(c)

 

PARTY EFFECTING TRANSACTION

    DATE    BUY /
SELL		    QUANTITY    AVERAGE
PRICE ($)1		    CURRENCY

LSP Cal II

    9/9/2008    BUY    142,202    15.73    USD

LSP Cal II

    9/9/2008    BUY    97,000    16.00    USD

LSP Cal II

    9/9/2008    BUY    67,900    15.02    USD

LSP Cal II

    9/9/2008    BUY    29,100    15.04    USD

LSP Cal II

    9/10/2008    BUY    121,250    15.18    USD

LSP Cal II

    9/10/2008    BUY    22,407    15.00    USD

LSP Cal II

    9/15/2008    BUY    225,000    14.69    USD

LSP Cal II

    9/16/2008    BUY    290,790    13.90    USD

LSP Cal II

    9/17/2008    BUY    189,000    12.89    USD

Luminus Energy Fund

    9/9/2008    BUY    4,398    15.73    USD

Luminus Energy Fund

    9/9/2008    BUY    3,000    16.00    USD

Luminus Energy Fund

    9/9/2008    BUY    2,100    15.02    USD

Luminus Energy Fund

    9/9/2008    BUY    900    15.04    USD

Luminus Energy Fund

    9/10/2008    BUY    3,750    15.18    USD

Luminus Energy Fund

    9/10/2008    BUY    693    15.00    USD

Luminus Energy Fund

    9/15/2008    BUY    25,000    14.69    USD

Luminus Energy Fund

    9/16/2008    BUY    32,310    13.90    USD

Luminus Energy Fund

    9/17/2008    BUY    21,000    12.89    USD

 

1

Exclusive of brokerage fees and commissions.

CUSIP No.  131347304    13D/A    Page 13 of 14 Pages

SIGNATURES

After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: September 24, 2008

 

Farrington Capital, LP
By:   Farrington Management, LLC
Its:   General Partner
By:   /s/ Mikhail Segal
  Name:   Mikhail Segal
  Title:   Vice President
LSP Cal Holdings I, LLC
By:   /s/ James Bartlett
  Name:   James Bartlett
  Title:   President
LSP Cal Holdings II, LLC
By:   /s/ James Bartlett
  Name:   James Bartlett
  Title:   President
Farrington Management, LLC
By:   /s/ Mikhail Segal
  Name:   Mikhail Segal
  Title:   Vice President

CUSIP No.  131347304    13D/A    Page 14 of 14 Pages

 

LS Power Partners, L.P.
By:   /s/ James Bartlett
  Name:   James Bartlett
  Title:   President
LS Power Partners II, L.P.
By:   /s/ James Bartlett
  Name:   James Bartlett
  Title:   President
Luminus Management, LLC
By:   /s/ Paul Segal
  Name:   Paul Segal
  Title:   President
Luminus Asset Partners, L.P.
By:   Luminus Management, LLC
Its:   Investment Manager
By:   /s/ Paul Segal
  Name:   Paul Segal
  Title:   President
Luminus Energy Partners Master Fund, Ltd.
By:   Luminus Management, LLC
Its:   Investment Manager
By:   /s/ Paul Segal
  Name:   Paul Segal
  Title:   President