0000919574-15-007463.txt : 20151022 0000919574-15-007463.hdr.sgml : 20151022 20151021182433 ACCESSION NUMBER: 0000919574-15-007463 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20151022 DATE AS OF CHANGE: 20151021 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UNIVERSAL STAINLESS & ALLOY PRODUCTS INC CENTRAL INDEX KEY: 0000931584 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 251724540 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49841 FILM NUMBER: 151168835 BUSINESS ADDRESS: STREET 1: 600 MAYER ST CITY: BRIDGEVILLE STATE: PA ZIP: 15017 BUSINESS PHONE: 4122577600 MAIL ADDRESS: STREET 1: 600 MAYER ST CITY: BRIDGEVILLE STATE: PA ZIP: 15017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Pennant Capital Management, LLC CENTRAL INDEX KEY: 0001168664 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 DEFOREST AVENUE STREET 2: SUITE 200 CITY: SUMMIT STATE: NJ ZIP: 07901 BUSINESS PHONE: 9737011100 MAIL ADDRESS: STREET 1: 1 DEFOREST AVENUE STREET 2: SUITE 200 CITY: SUMMIT STATE: NJ ZIP: 07901 FORMER COMPANY: FORMER CONFORMED NAME: PENNANT CAPITAL MANAGEMENT, LLC DATE OF NAME CHANGE: 20120411 FORMER COMPANY: FORMER CONFORMED NAME: PENNANT CAPITAL MANAGEMENT LLC DATE OF NAME CHANGE: 20050511 FORMER COMPANY: FORMER CONFORMED NAME: PENNANT CAPITAL MANAGEMENT INC DATE OF NAME CHANGE: 20020307 SC 13G/A 1 d6867280_13g-a.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 9)*


Universal Stainless & Alloy Products, Inc.
(Name of Issuer)


Common Stock, par value $0.001 per share
(Title of Class of Securities)


913837100
(CUSIP Number)


October 21, 2015
(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)

__________
*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 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
913837100
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Alan Fournier
c/o Pennant Capital Management, LLC
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
United States
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
703,219
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
703,219
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
703,219
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
  
   
[_]
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
9.9%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
IN
  

CUSIP No
913837100
    
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Pennant Capital Management, LLC
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
703,219
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
703,219
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
703,219
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
  
   
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
9.9%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
OO, IA
  
 
CUSIP No  913837100   
     
1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Pennant Master Fund, L.P.
  
     
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
   
(a)  [_]
   
(b)  [X]
     
3.
SEC USE ONLY
  
     
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Cayman Islands
  
     
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     
5.
SOLE VOTING POWER
  
     
 
0
  
     
6.
SHARED VOTING POWER
  
     
 
436,212
  
     
7.
SOLE DISPOSITIVE POWER
  
     
 
0
  
     
8.
SHARED DISPOSITIVE POWER
  
     
 
436,212
  
     
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
 
436,212
  
     
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
  
   
[_]
     
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  
     
 
6.1%
  
     
12.
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN
  




CUSIP No
913837100
    

Item 1.
(a).
Name of Issuer:
  
       
   
Universal Stainless & Alloy Products, Inc.
  

 
(b).
Address of Issuer's Principal Executive Offices:
  
       
   
600 Mayer Street
Bridgeville, PA 15017
  

Item 2.
(a).
Name of Person Filing:
  
       
   
Alan Fournier, c/o Pennant Capital Management, LLC
Pennant Capital Management, LLC
Pennant Master Fund, L.P.
  

 
(b).
Address of Principal Business Office, or if None, Residence:
  
       
   
Alan Fournier
c/o Pennant Capital Management, LLC
One DeForest Avenue, Suite 200
Summit, New Jersey 07901
 
Pennant Capital Management, LLC
One DeForest Avenue, Suite 200
Summit, New Jersey 07901
 
Pennant Master Fund, L.P.
c/o Pennant Capital Management, LLC
One DeForest Avenue, Suite 200
Summit, New Jersey 07901
  

 
(c).
Citizenship:
  
       
   
Alan Fournier – United States citizen
Pennant Capital Management, LLC – Delaware limited liability company
Pennant Master Fund, L.P. – Cayman Islands exempted limited partnership
  

 
(d).
Title of Class of Securities:
  
       
   
Common Stock, par value $0.001 per share
  

 
(e).
CUSIP Number:
  
       
   
913837100
  

Item 3.
  
If This Statement is filed pursuant to 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 Exchange Act (15 U.S.C. 78c).

 
(b)
[_]
Bank as defined in Section 3(a)(6) of the Exchange Act (15 U.S.C. 78c).

 
(c)
[_]
Insurance company as defined in Section 3(a)(19) of the Exchange 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)
[_]
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

 
(f)
[_]
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

 
(g)
[_]
A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

 
(h)
[_]
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813);

 
(i)
[_]
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

   
(j)
[_]
Group, in accordance with s.240.13d-1(b)(1)(ii)(J).
   
Item 4.
Ownership.
  

 
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 
(a)
Amount beneficially owned:
     
   
703,219 shares deemed beneficially owned by Alan Fournier
703,219 shares deemed beneficially owned by Pennant Capital Management, LLC
436,212 shares deemed beneficially owned by Pennant Master Fund, L.P.

 
(b)
Percent of class:
     
   
9.9% deemed beneficially owned by Alan Fournier
9.9% deemed beneficially owned by Pennant Capital Management, LLC
6.1% deemed beneficially owned by Pennant Master Fund, L.P.

 
(c)
Number of shares as to which Alan Fournier has:
     
   
(i)
Sole power to vote or to direct the vote
0
,
         
   
(ii)
Shared power to vote or to direct the vote
703,219
,
         
   
(iii)
Sole power to dispose or to direct the disposition of
0
,
         
   
(iv)
Shared power to dispose or to direct the disposition of
703,219
.
         

 
Number of shares as to which Pennant Capital Management, LLC has:
   
   
(i)
Sole power to vote or to direct the vote
0
,
  
           
   
(ii)
Shared power to vote or to direct the vote
703,219
,
  
           
   
(iii)
Sole power to dispose or to direct the disposition of
0
,
  
           
   
(iv)
Shared power to dispose or to direct the disposition of
703,219
.
  
       

 
Number of shares as to which Pennant Master Fund, L.P. has:
  
     
   
(i)
Sole power to vote or to direct the vote
0
,
         
   
(ii)
Shared power to vote or to direct the vote
436,212
,
         
   
(iii)
Sole power to dispose or to direct the disposition of
0
,
         
   
(iv)
Shared power to dispose or to direct the disposition of
436,212
.
     

Item 5.
Ownership of Five Percent or Less of a Class.

 
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [_].
 
 
N/A
 
Item 6.
Ownership of More Than Five Percent on Behalf of Another Person.

 
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified.  A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
 
 
All securities reported in this Schedule 13G are owned by advisory clients of Pennant Capital Management, LLC.  Of such advisory clients, only Pennant Master Fund, L.P. directly owns more than 5% of the outstanding shares.
   
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

 
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary.  If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
 
 
N/A
   
 
Item 8.
Identification and Classification of Members of the Group.

 
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group.  If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
 
 
N/A
   
Item 9.
Notice of Dissolution of Group.

 
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity.  See Item 5.
 
 
N/A
   
Item 10.
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.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 
October 21, 2015
 
(Date)
   
   
 
PENNANT CAPITAL MANAGEMENT, LLC*
 
 
/s/ Alan Fournier
 
By: Alan Fournier
 
Title: Managing Member
   
   
 
ALAN FOURNIER*
   
 
/s/ Alan Fournier
   
   
 
PENNANT MASTER FUND, L.P.
 
By: Pennant General Partner, LLC
 
 
/s/ Alan Fournier
 
By: Alan Fournier
Title: Managing Member
   
   


* The Reporting Persons disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein.


Exhibit A
AGREEMENT
The undersigned agree that this Amendment to Schedule 13G dated October 21, 2015 relating to the Common Stock, par value $0.001 per share of Universal Stainless & Alloy Products, Inc. shall be filed on behalf of the undersigned.
   
 
PENNANT CAPITAL MANAGEMENT, LLC
 
 
/s/ Alan Fournier
 
By: Alan Fournier
 
Title: Managing Member
   
   
 
ALAN FOURNIER
   
 
/s/ Alan Fournier
   
   
 
PENNANT MASTER FUND, L.P.
 
By: Pennant General Partner, LLC
 
 
/s/ Alan Fournier
 
By: Alan Fournier
Title: Managing Member